SL’s Micro Electric International and South Korea’s Lodule International to manufacture smart phones in Sri Lanka
Dhammika Samarawickrama, Chairman of Micro Electric International and Hypro Holdings (Pvt) Limited of Sri Lanka and Byungehul Kim, Chairman and CEO of Lodule International Ltd. of South Korea entered into an MoU, last week, in order to assemble and manufacture mobile phones in Sri Lanka. Both these companies are well equipped and have the state of the art technology to assemble and manufacture smart 4G mobile phones not only to the domestic market but also to export to the region of South Asia, South East Asia and African region, amongst others.
The Lodule International Ltd., South Korea, CEO, Byungehul Kim, speaking to the media stated that their company in Korea has been manufacturing and supplying all smart phone accessories, LCT panels to most of the leading mobile and Television manufactures in the world. “When we were contacted by Micro Electric International Sri Lanka, we decided to move into the manufacturing segment in Sri Lanka, given the economic and commercial opportunities and vistas in the country.” According to the MoU, Lodule will send the machinery and accessories needed to assemble the mobile phone to Sri Lanka and will also base a number of Korean engineers to supervise and direct the operations, who in turn will pass the technology to Hypro Holdings in Sri Lanka. “Since Micro Electric International is already manufacturing electric accessories locally, some mobile accessories such as the mobile cover and few other items can be manufactured locally”, added Samarawickrama, the Chairman of Micro Electric International Limited.
The Lodule International Ltd., South Korea, CEO, also said that this is only the beginning of their operations and in the future, hopes towards introducing the 5G smart phones and also towards the assembly of LCD TV panels in Sri Lanka. The Hypro Holdings (Pvt) Ltd Chairman, Dhammika Samarawickrama, stated that some of the molds and other equipment have already been imported and they are confident and optimistic that the first made in Sri Lanka mobile phone, Hypro, could be marketed by December 2021 for under Rs. 30,000.
The former Ambassador of Sri Lanka to South Korea and Director General Economic Affairs, Foreign Ministry Prof. A. Saj U. Mendis said that the launch of the Hypro Made in Sri Lanka mobile phone would contribute towards changing the economic landscape of Sri Lanka, thus elevating the nation to a high-tech nation. Prof. Mendis who promoted this project from the inception, recalled that when Samsung was launched in South Korea many leading global mobile operators laughed at them. “However, Samsung unseeded several mobile manufacturers and became one of the most sought after mobile manufactures in the world competing and vying, directly, with Apple Inc., which is today the largest corporate in the world.’’
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.
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.
Direct flights between Istanbul and Katunayake to commence from August
A special discussion between Turkish Ambassador – Demet Sekercioglu and Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva took place last week at the ministry office. The aim of the discussion was to seek authorization to commence direct flights from the Turkish Capital Istanbul to Katunayake, Sri Lanka. The Chief of Turkish Airlines’ South Asia Office Fathi Bozkurt was also present during the discussion.
Currently, Turkish Airlines connects with Sri Lanka through a route that includes a stopover in the Maldives, resulting in an additional travel time of one and a half hours. The delay caused by this routing is not favored by travelers, as emphasized by the Ambassador.
The Chief of Turkish Airlines requested for time and space to be allocated in order to initiate direct flights between Istanbul and Katunaike, thus providing convenience for Turkish tourists and travelers who prefer visit Sri Lanka.
The Minister announced that the request would be forwarded to the Director General of the Civil Aviation Authority of Sri Lanka and the Airport and Aviation Services (Sri Lanka) (Private) Limited. The aim is to establish direct flights between Istanbul and Katunayake starting from August this year.
Turkish Airlines, a renowned airline with a fleet of over 100 aircraft, offers flights connecting Europe’s Vancouver and New York. The Chief of Turkish Airlines said that the new service would not only benefit European travelers but also encourage them to travel to Sri Lanka.
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