News

NU's last meeting with a Sunday Times journalist

Soon after the business magnate celebrated his 94th birthday on February 25, Wickremaratne called over at Jayawardene's office on the 3rd floor of Mercs Bank to take pictures of the veteran businessman. .

Wickremaratne described the Mercs Bank life president at 94 as "very alert and being able to perfectly understand everything that I said. 

"As I walked into the office he asked me whether I was from the Sunday Times and whether I was an old boy of St Aloysius, Galle? I said yes," Wickremaratne recalled. Jayawardene's office had been informed that the Sunday Times photographer was an old boy of Jayawardene's school.

Jayawardene asked Wickremaratne whether he was in college during Fr Croos' time. "I said you are a far senior to me and during my time it was Rev Father S.J. Chiriati," the Sunday Times photographer recalled.

Wickremaratne asked the former Central Banker to pose for pictures and smile into the camera. A picture of a smiling Jaywardene seated at his desk appeared in the March 3 edition of the newspaper - the last one to appear in the Sri Lankan press.

Delays in using Indian credit line

By Diana Mathews

Deputy High Commissioner of India, Mohan Kumar, has assured the industrialists that the issue would be taken up with the Indian Government. 

Speaking at a seminar on Maximising Utilisation of the Facilities available under the Indian credit line held recently, he said that only $18 million had been used out of the $45 million allocated for the year. The Indian credit line would help strengthen corporate and commercial relations between India and Sri Lanka, he added.

The government of India has offered a credit facility of $100 million to the government of Sri Lanka for the import of capital goods, consumer durables, and specific food items of Indian origin within a period of three years from 2001, said Sarath De Silva, General Manager of the Bank of Ceylon through the funds can be accessed.

The current interest rate is 15.80 percent a year and this would be subject to revision on March 1 and September 1 each year, he added.

Maldivian trade team here

A seminar will be held on April 3 which will be followed by business meetings with Sri Lankan exporters and investor partners, the EDB said in a statement. 

The members of the mission will hold individual meetings with their Sri Lankan counterparts with the assistance of the Export Development Board. The mission is expected to strengthen trade and investment ties between the two countries. 

Sri Lanka's exports to the Maldives have increased over the years from Rs. 428 million in 1993 to Rs. 3.7 billion in 2001. 

Considering the proximity of the market and the possibilities of exporting, particularly perishable items such as fruits and vegetables, the Maldives is considered a high priority market by the EDB. 

Sri Lanka enjoys a market share of about 13 percent in the Maldives. Among the main exports to the Maldives are woven fabrics, garments, food and beverages.

Janashakthi eyes South Asian market

A company statement said the office will be managed by a Sri Lankan. 

"Insurance is still a relatively new concept in the Maldives and Janashakthi hopes to made the best out of this situation. 

Initial research shows that there are tremendous opportunities available on the islands," it said.

Janashakthi said on the opening day of business, one of the largest resort operators signed an agreement with the Sri Lankan firm. 

The company is planning on a wider presence in South Asia and the male office is the first step in this direction.

Opening an office in another South Asian country is among the company's plans this year. 

Lush beauty products at Odel shelves

These handmade soaps, made of fragrant fruit and flower essential oils combinations for specific therapeutic and rejuvenating uses, were first sold to the "Body Shop", making them a favourite of clients because they are 100 percent vegetarian and are not tested on animals, an ODEL statement said. 

Lush is also an international mail order company. 

The Lush range consists not only of soaps, lotions, bath bombs, massage bars, shower gels, moisturisers, and cleansers but also beauty products such as fresh, daily made face packs, body scrubs, face masks, and foot scrubs.

Worldview seminar

The programme will be presented by Worldview Institute CEO Nalin Jayasuriya and Training Link CEO Kushan Dharmawardene. Jayasuriya has worked with Smithkline Beecham overseas before and conducted training workshops in many countries while Dharmawardene has over 20 years of work experience in Sri Lanka, Papua New Guinea, England and Australia. He is also a visiting lecturer at two Sri Lankan universities

The two-day workshop is expected to cover leadership and motivation, creativity and innovation, developing positive attitudes, managing time for personal effectiveness, decisions and problem solving, team work and feedback.

Corporate executives for government service 

"Such private sector managers seconded to the government can be effective as a catalyst to facilitate the growth of the economy driven by the private sector," Chandra Jayaratne, chairman of the chamber, has said in a letter to company chief executive officers. 

The envisaged economic reforms will require effective change management in many government institutions and departments with the need for fresh ideas, work ethics, result-oriented action, management by objective and renewed vigour, he said.

Jayaratne appealed to chamber members to consider releasing "high quality, experienced, competent managers" to support the Government to serve on sectoral planning committees, and place them on a full-time secondment basis at government ministries, departments and agencies.

"We have received a request for nominations to fill membership positions in

sectoral planning committees of the Ministry of Policy Development and

Implementation functioning under Prime Minister Ranil Wickremesinghe," he said. 

"In addition, we have received requests for release of competent high level

managerial resources to work full time for 18 to 24 months in the Ministry of Industries, Ministry of Economic Reform, Science and Technology and Ministry of Commerce and Consumer Affairs," he added.

The remuneration and benefits due to such management executives released

would need to be borne by the private sector employer during the secondment period, Jayaratne said.

Such cost will be more than rewarded by the growth of the economy and the improvement in the public service on the one hand and on the other by the experience, insight into economic policies and familiarization with planning that can be gained and the network of contacts that can be established by the secondees, he said.

The real challenge of the private sector is to convince the government that it should not engage in any commercial activities either in the area of the production of goods or providing services except where social equity demands or the private sector is incapable or unwilling to engage in such commercial activities, Jayaratne said.

Cisco to open networking academies

By Akhry Ameer

They will help provide network education and skills, the company said in a statement. 

The firm has partnered with the United Nations Asia Pacific Development Information Programme that will work with the existing network academy, the Sri Lanka Institute of Information Technology.

Cisco has committed to invest $200 million over the next two years on growth and expansion in the India and the South Asian region.

Cisco's new Colombo office will become the first regional office outside India in South Asian. 

The local office is expected to provide service support to its existing Systems Integrators and 25 resellers while carrying out business development.

Manoj Chugh, President, India and SAARC region said, "We have seen a growth in the Internet subscriber base by over 50 percent in the last two years. This means that network adoption is happening at grassroots level. There is also a strong demand from enterprises".

Some of the existing customers of Cisco in Sri Lanka are the Sri Lanka Telecom, Suntel, Lanka Bell and MTN Networks among the service providers, and Sampath Bank, Seylan Bank, Sri Lankan Airlines and Colombo Stock Exchange among the enterprises.