Business
Medical equipment and other vital assistance from the Republic of Korea to Sri Lanka

President Moon Yong-Jo of IIDA, Dr. Mendis and other senior most officials of the IIDA, with samples of the sanitary products, at the briefing session of the ceremony
With the intervention and coordination of the Embassy of Sri Lanka in Seoul, the Sri Lankan community and well-wishers in the Republic of Korea (RoK) and the KEB Hana Bank, one of the largest money center banks, have gifted new 32 Intensive Care Unit (ICU) beds to Sri Lanka at the height of the COVID pandemic.
These state-of-the-art ICU beds, which were handed over to Ambassador Dr. A. Saj U. Mendis and Head of Chancery Ms. Nilanthi Pelawaththage, would be air lifted to Sri Lanka, courtesy of SriLankan Airlines, this week to reach Colombo at the earliest. These ICU beds are valued at over USD 12,000 (SLRs. 2.4 million). It may further be noted that the E9-PAY Company Ltd. in the Republic of Korea facilitated the sourcing of the aforementioned ICU beds in close coordination with the Embassy of Sri Lanka. Further, the Embassy has raised funds, primarily from the Sri Lankan community and migrants in the RoK, in excess of SLRs. 2 million, which would be used to purchase 50 Oxygen Cylinders with the capacity of 10.2L. These would be air lifted to Colombo at the earliest.
The Embassy successfully negotiated and interceded with International Interchange Development Association, known as IIDA, headed by Mr. Moon Yong-Jo in order to receive a gift of Cancer Detection and Prevention Machine and a large quantum of sanitary products such as shampoos, tooth brushes, toothpaste and soaps, amongst others, to the peoples of Sri Lanka. This initiative was effectuated by the Commercial Division of the Embassy along with Ambassador Dr. Mendis. The listed price of the Cancer Machine is USD 365,000 and total cost of sanitary products is USD 318,000 thus making the total gift amounting to USD 683,000 or SLRs. 135 million respectively. Since this consignment is very large, it would be shipped to Sri Lanka as soon as IIDA and the Embassy source a competitively priced freight forwarding agent.
This Agreement was signed by Dr. Mendis and the Commercial Division of the Embassy with the President of the IIDA to receive the Cancer Detection and Prevention Machine and other sanitary products to be shipped to Sri Lanka. “The Cancer Detection and Prevention Machine, which is one of the most state-of-the-art machines used in the world, would be of immense usage and utility to patients suffering from cancer and cancer related sicknesses in Sri Lanka”, added Dr. Mendis during the gifting ceremony. Ambassador Dr. Mendis further stated “according to the WHO and Center for Disease Control (CDC) in the US, cancer is one of the primary causes of untimely deaths of peoples in developed and developing countries including in Sri Lanka. On any given day, approximately 30,000 people in the world die due to cancer, which is far higher than any other cause of death except of heart diseases”.
Some of the deadliest and most difficult cancers to be medically treated are prostate, pancreatic, breast and lung cancer, amongst others, and in Sri Lanka, Dr. Mendis added that a substantial number of people die each year due to cancer. President Mr. Moon of IIDA had visited Sri Lanka in the past and the International Non-Governmental Organization (INGO) conducts altruistic and philanthropic functionaries in a number of developing countries around the world. The President of IIDA stated that in due course once the COVID pandemic is over, the IIDA would dispatch a couple of experts and technicians to Sri Lanka to familiarize the operational aspect of the aforementioned Cancer Detection and Prevention Machine.
The Embassy on close coordination with Sri Lanka Air Force, intervened and negotiated with the International Fire Safety Association of the RoK, a reputed INGO, which has gifted a Water Tank Vehicle and two Fire Pump Trucks to the Sri Lanka Air Force. The Agreement on the gift of fire engines was signed by the Chairperson of International Fire Safety Association and Dr. Mendis and the fire engines, which were scarcely used and are in very good condition. These highly advanced fire engines would be shipped to Sri Lanka in the immediate future. During the recent past, the aforementioned Association has gifted fire engines and ambulances to a number of countries and the Chair assured to the Embassy and to Dr. Mendis that in the future, the Association would gift more fire engines and ambulances to Sri Lanka.
Business
Oil prices rise as Saudi Arabia pledges output cuts – Opec+

Oil-producing countries have agreed to continued cuts in production in a bid to shore up flagging prices.
Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July and Opec+ said targets would drop by a further 1.4 million bpd from 2024.
Opec+ accounts for around 40% of the world’s crude oil and its decisions can have a major impact on oil prices.
In Asia trade on Monday, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel.
The seven hour-long meeting on Sunday of the oil-rich nations, led by Russia, came against a backdrop of falling energy prices.
Total production cuts, which Opec+ has undertaken since October 2022, reached 3.66 million bpd, according to Russian Deputy Prime Minister Alexander Novak.
Opec+, a formulation which refers to the Organization of Petroleum Exporting Countries and its allies, had already agreed to cut production by two million bpd, about 2% of global demand.
(BBC)
Business
Manpower services agency wins accolades for its contribution to foreign employment sector

Its MD says. ‘go abroad only if you can work hard’
Siraj Manpower Services, one of Sri Lanka’s leading foreign employment agencies, was honoured with the Three-Star Award at the ‘Golden Awards’ 2023, organised by the Sri Lanka Bureau of Foreign Employment (SLBFE). This award ceremony was organised to honour foreign employment agencies that have made a significant contribution to the development of the foreign employment sector, which is a major source of foreign exchange for Sri Lanka. Siraj Cafoor, Managing Director of Siraj Manpower Services, was presented with the award at the award ceremony which was held at the BMICH in Colombo under the patronage of Minister of Foreign Employment and Labour Manusha Nanayakkara.
Having been established in 2002, Siraj Manpower Services (www.sirajmanpower.lk) has earned a reputation in the field of foreign employment by winning the trust of customers for more than 20 years. It has been offering job opportunities in the Middle East countries such as Kuwait, Qatar, Dubai and Saudi Arabia, and Malaysia as housekeepers, drivers, sanitation workers, labourers and also jobs related to the apparel industry. All these workers are entitled to approved salary scales certified by the SLBFE.
“We always stand for the safety of workers who go abroad through our organisation. We work to solve the problems that arise in relation to the contracts that the workers have entered into. I must mention something special to those who go abroad for employment. That is, you should keep in mind that you go abroad only to work. Go abroad only if you can work hard. You have to remember that you are going abroad to earn some more money and achieve the advancement of your family.” said Siraj Cafoor.
Business
Ports Minister invites Singaporean investors to develop Colombo North Port

The Minister of Ports, Navigation and Aviation Nimal Siripala de Silva was on an observation tour on 3rd of June to witness the operations and development of Singapore’s main port. During the tour, he had a special discussion with the head of PSA International Private Company which carries out the operations and development of the Singapore port.
Won Chee Fung, CEO of the company’s Middle East and South Asia arm said if there are investment opportunities for development and operations in the ports of Sri Lanka, they would like to apply for them.
The Minister told him that since the government has planned to start the development of the North Colombo Port, a suitable investment plan and proposal could be made for it. He also requested the heads of PSA International Private Company to provide a suitable proposal for the development of Trincomalee Port.
PSA International is one of the few largest companies operating in ports in the world, and 37,000 million containers are handled per year in Singapore’s main port alone.Officials including Assistant Vice President of PSA Company Lim Wei Chang, Chairman of JCT Oil Bank Company, Lakmal Ratnayake and representatives of the Sri Lankan Embassy in Singapore also participated in this discussion.
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