The AIA/DFCC Bancassurance Awards Ceremony was held recently at the Oak Room at Cinnamon Grand, Colombo. The event recognized the top performers from AIA Insurance’s and DFCC Bank’s Bancassurance business while celebrating the strong, long-standing partnership between these two giants in the banking and insurance spaces. Individuals driven by commitment and dedication to develop Bancassurance who excelled across 2019, 2020 and 2021, from AIA Bancassurance and DFCC Bank’s business channels, were honoured at the event.
Tea industry targets USD 1.2 bn export turnover in 2023
Sri Lanka will earn around USD 1.2 billion from tea exports for 2023 exporting around 260 million Kg, said Chairman of the Sri Lanka Tea Board, (SLTB) Niraj de Mel, last week.
SLTB is forecasting a modest growth for 2023 in comparison to the current year estimating an increased production of 290 million Kgs with export revenues expected to increase to USD 1.4 billion. Due to the depreciation of the rupee against the dollar, during the first half of the year and a shortage of tea, sales caught up and auction prices increased sharply from March 2022. Despite fuel shortages and logistic issues, the Regional Plantation Companies and smallholders have been able to continue the harvesting of green leaf throughout the year. When compared to 2020 and 2021 volumes, the Green Leaf price to smallholders has increased exponentially from July 2022 onwards.
“The tea smallholder who used to get around Rs. 90 per kg three years ago is now getting around Rs. 250 per kg and some estates have paid nearly Rs. 1,000 per kg. He said that though the glyphosate fertiliser ban is lifted planters should not use it heavily as a ‘global ban of glyphosate’ is imminent for the tea industry. Some countries like Taiwan already reject tea grown with the use of glyphosate.” He recalled that tea production reached an all time high with a record of 340 million Kgs in 2013. “After short increases during the period 2017 to 2019, tea production recorded a decrease in 2020, mainly due to the fallout from the pandemic and now we are taking several steps to increase production.”
The Tea board is offering a host of financial grants and loans to the tea growers, factories as well as for exporters. “These include subsidies for replanting, fertiliser for growers, special grants and loans for factories to upgrade their machinery and soft loans for exporters for packaging. These facilities exceed Rs. 4 billion per year.”
Tea Commissioner E. Edirisinghe said that they would also provide Rs. I million for tea factory expansion which comes as a grant. “In addition, we pay 3% of the capital when factories install solar,” he said.
Harin urges for ‘breathing space’ to revive tourism
Minister of Tourism and Lands Harin Fernando said on Saturday that persistent political agitations make his job of promoting Sri Lanka as a safe and convenient tourist destination extremely difficult.
“Now the country has restarted to function although not at a comfortable level to everyone. People undergo many economic difficulties due to high cost of living. These issues need to be addressed and resolved one by one. Creating troubles constantly in a highly political way won’t help the country to come out of the crisis. It will only prolong the crisis.
As Minister of Tourism, I have a hard time promoting tourism in Sri Lanka because it is no easy task to convince potential overseas visitors that the situation is back to normal. So, I appeal to these parties to allow at least six months for the country resuscitate whose breathing had stopped for some time,” he said.
UTECH Technologies recognised at Sahasak Nimavum Innovation Awards
UTECH Technologies (Pvt) Limited, Sri Lanka’s leading Industry 4.0 transformation solutions provider won the most prestigious innovation award, the DASIS award at the Sahasak Nimavum National Innovation Awards held recently. The DASIS Award is judged across all competing categories and only awarded to the innovation that shows novelty in technology and has been commercialized successfully. This award is judged by a learned panel of national and international judges including academia and industry experts. UTECH also won overall gold for best commercialized ICT innovation. UTECH has won many national and international awards, including the overall gold for “IoT technology of the year” at the Asia Pacific ICT Awards (APICTA) in 2021.
UTECH’s Managing Director, Riyad Ismail said, “Having many Sri Lankan industrial conglomerates as our clients, we have started exporting our hardware and software solutions to world markets.”
Trains on northern railway line will end at Mahawa for five months from 15th January 2023
SLPP dissidents ask govt. to bring back USD 35 bn ‘parked’ overseas
Security stickers on bottles of liquor: The corrupt make a killing – Buddhika
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
U.S. Congress to probe assets fleecing by US citizens of Sri Lankan origin
Opinion5 days ago
Rohan Abeywickrema – A pioneer in transport professionalism
News3 days ago
GCE O/L results to be released today
Editorial7 days ago
Mahathir and Mahinda
Features7 days ago
Successful reconciliation requires people’s trust and confidence
Opinion7 days ago
I have Cholesterol, Doctor!
Features7 days ago
Brain drain and future of medical education
Opinion5 days ago
Rise against state repression: A call to the people
News4 days ago
Public protests: Alles claims UN pleased with police response