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+ Exchange Rates The Central Bank's Spot Rates for transactions with Commercial Banks announced on the morning of November 6, 1998 were as follows:
Buying Selling 100 US Dollars Rs. 6598.30 Rs. 6731.60 The approximate middle exchange rates of following currencies calculated on the basis of cross rates quoted by Gulf International Bank, Bahrain as it appeared in Reuters Financial Information System on November 6, 1998 were as follows:
Saudi Arabia Riyal Rs. 17.77 Bahrain Dinar Rs. 176.80 Kuwait Dinar Rs. 219.19 Qatar Riyal Rs. 18.32 UAE Dirham Rs. 18.15 Oman Riyal Rs. 173.13 Average rates at which the following currencies were quoted by Commercial Banks in Colombo for Telegraphic Transfers at mid-day on November 6, 1998 were as follows:
Buying Selling 100 US Dollars Rs. 6669.00 Rs.6739.20 100 Sterling Pounds Rs. 11114.89 Rs. 11239.38 100 Deutsche Marks Rs. 4017.64 Rs.4679.79 100 French Francs Rs. 1197.54 Rs.1219.07 100 Japanese Yen Rs 56.54 Rs. 57.47 Average Weighted Prime Lending Rate (AWRP) and Lowest Prime Rate (LPR)
The Average Weighted Prime Lending Rate (AWPR) during the week ended October 16th, 1998 was 14.7 per cent for all banks. The Lowest Prime Rate among banks during this week was 13.5 per cent.Average Weighted Deposit Rate of Commercial Banks (AWDR)
The Average Weighted Deposit Rate (AWDR) of Commercial Banks for the month ended October 31st, 1998 was 9.2 percent.
* Unit Trust Prices
Comtrust Equity Fund
Manager's Selling Price Rs. 4.76 (per unit) Managers Buying Price Rs. 4.47 (per unit)
National Equity Fund
Manager's Selling Price Rs. 7.05 (per unit) (per unit) Managers Buying Price Rs. 6.63 (per unit) (per unit)
Namal Growth Fund
Manager's Selling Price Rs. 7.63 (per unit) Managers Buying Price Rs. 7.15 (per unit) Namal Income Fund
Manager's Selling Price Rs. 10.44 (per unit) Managers Buying Price Rs. 10.33* (per unit) Pyramid Unit Trust
Manager's Selling Price Rs. 5.30 (per unit) Managers Buying Price Rs. 4.95 (per unit)
* After deducting exit fees
'Lankapak '98' exhibition Nov. 12-15
by Shirajiv Sirimane
The 'Lankapak '98' Packing Exhibition conducted by Sri Lanka Institute of Packaging with the assistance of National Packaging Centre will be held from November 12 to 15 at the Sri Lanka Exhibition and Convention centre, commencing at 10 a.m. each day. Admission will be free.Wasantha Wijemanne, President Institute of Packaging at a Press briefing in this regard said that the packing industry has grown in recent years. 'There are over 2,200 factories in Sri Lanka and it provides employment to nearly 40,000', he said.
Twenty-nine exhibitors including a Singaporean firm will have stalls. 'Since Sri Lanka packaging market is limited many other foreign countries have requested their agents in Sri Lanka to put up stalls', he said. He also disclosed that the number of stalls has been reduced this year. He attributed this to many companies involved in printing pulling out due to the Russian tea prices having a negative impact in the Lankan tea industry.
'Since the first packaging exhibition held in 1981 at the BMICH, the packaging industry in Sri Lanka has made vast strides and is today a well established manufacturing sector catering to the packaging needs of both the domestic and the export industry. The exhibitions held once in two years, have served as the show window of the industry with a large number of manufacturers of packaging material displaying their machinery and products', said Dharmatillake Ratnayake Chairman of the Exhibition.
'This years' exhibition is being held at a time when the global scenario relating to the packaging industry is changing. The emphasis is now being laid on the degree of compliance of packaging materials with already existing and forthcoming legislation and regulations rather than the technical developments of packaging. Ecological considerations are also playing an important role with signs of most aspects of packaging being regulated in the interest of protecting the consumer's health and the need for fair trade practices', he added.
The National Packaging Centre (NPC) was established in 1983 as a joint venture between the Sri Lanka Export Development Board and the Sri Lanka Institute of Packaging mainly to promote and improve the standard of packaging in Sri Lanka.
Ground-breaking ceremony of Barnes Place Residencies
'If you look around you, you will see a 112-perch block of land bare to the bone, but if you take the trouble to stretch your imagination a little further, like we did, you will truly share in our vision. You will then see a five-storey luxury apartment complex called Barnesplace Residencies. As I stand here I can proudly say that Ceylinco Homes International is responsible for introducing a brand new concept in housing to the Sri Lankan family. We are keen to make a positive and lasting impression by providing you with improved lifestyles and safe neighbourhoods', said Mr. Lalith Kotelawala speaking at the Ground-breaking ceremony of Barnesplace Residencies held recently at Barnesplace in Colombo.
Barnesplace Residencies, a 5-storey 50 unit luxury apartment complex consisting 2 and 3 bed room luxury apartments is an approved project of the Board of Investment. The complex will be built on a 112-perch block of land in the heart of the residential capital Ñ Barnes Place.
The project is an undertaking of Ceylinco Homes International (Lotus Tower) Limited, a member of renowned Ceylinco Consolidated and is estimated to take 24-30 months for completion, ready for occupation in the next millennium.
Ceylinco Homes International is also providing a comprehensive financial arrangement for those interested in purchasing these homes on an easy-payment scheme. This proves to be profitable as the monies paid up front will actually be a minimum amount and the major percentage over a period up to 20 years.
Considering the limited number of units available, Ceylinco Homes International is confident that all interested will seize the opportunity of purchasing these apartments prior to construction. The location, the low-rise construction, the facilities, the easy-payment terms and the surety of Ceylinco Consolidated certainly make Barnes Place Residencies not only attractive homes, but astute investments as well.
Competitive advantage through creative thinking
Creative thinking can help you generate many options and alternatives and select the best suited to your needs. Developing your individual thinking tools would help you enter a world without boundaries, helping you discover that corporate growth and personal growth can have no limits.
This subject would be discussed at the next Evening Meeting of the Sri Lanka Institute of Marketing, scheduled to be held on 9th November at 5:30 p.m. at the lower floor Crystal Room of the Hotel Taj Samudra in Colombo 3.
The speaker for the evening would be Ms. Rekha Shetty, Managing Director of Farstar Distribution Network Ltd., one of the first persons in India to specialise in management creativity. She has conducted creativity programmes for many premier institutions in India including Ceylon Tobacco Co. Ltd., in Sri Lanka.
With a brilliant academic record with two university ranks, Ms. Rekha Shetty developed a nationally acclaimed advertising campaign for United India Insurance, and in Southern Petrochemical Industries Corporation Ltd., her work on financial advertising was a landmark.
As Group Vice President-Marketing of the Apollo Hospitals Group, she pioneered the concept of hospital marketing and health insurance and as Profit Centre Head with the Maxworth Group, she used creative options to develop new concepts.
Involved in the field of creativity for over 17 years, Rekha Shetty has worked with George Prince, one of the earliest Master Thinkers who established his own company devoted to creativity - Synetics. She has also learned from meetings with Edward de Bono who has systematized the study of creativity.
Started in 1996, the motto of her company 'Farstar' is 'Reach for the Stars'. Ms. Rekha Shetty says she has selected this particular motto because she believes that within every person and every company, there is a star waiting to be liberated.
This particular topic with Ms. Rekha Shetty as the speaker is expected to generate considerable excitement and interest among marketing professionals in Sri Lanka.
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