      Business Editor : Eriq Dewanarayana
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Business Editor : Eriq Dewanarayana
|
Managing Enterprises in a Dynamic Global Economic Environment
The Seventh National Conference of the Institute of Chartered Secretaries and Administrators is being held in association with the European Commission Delegation to Sri Lanka. The inauguration of the conference will be on Thursday, 12th November ‘98 at the Colombo Hilton and will focus on the overall Conference theme "Managing Enterprises in a Dynamic Economic Global Environment" relevant to Sri Lanka and the region of South and East Asia and Japan.
The Technical Sessions covering a range of interesting and thought provoking issues woven round the main theme commences the next day 13 November at the BMICH and should provide insights into issues yet to be solved by the economic gurus. The topics should be of interest to a cross-section of Industry, Commerce, Banking and Finance and Non-Governmental Agencies established in the country.
With the International and Local Stock Markets currently undergoing turbulant times there is growing American concern over Global Markets and of a possible downturn in the US economy which could see a recession. All visible signs are that the US Federal reserves reacting positively to these pressures and trying to maintain an element of global economic stability.
Mahaweli Marine sponsors prestigious Architects’ Congress
Mahaweli Marine Cement Co. Ltd., has come forward as the principal sponsor of the prestigious ‘Eighth Asian Congress of Architects ", scheduled to take place in Sri Lanka from 10th- l5th November, with a sponsorship package of Rs. 1.6 million.
President Chandrika Bandaranaike Kumaratunge, will be the chief guest at the ceremonial inauguration which will take place on November 12 at the BMICH.
The Congress which will be hosted by the Sri Lanka Institute of Architects, is held every two years in an Asian city.
Mr. Nelson who handed over the cheque for the balance payment of Rs. 1 million the initial Rs. 600,000/- being handed over earlier to Mr. V. N. C. Gunasekera - President of the Sri Lanka Institute of Architects, also said that his organisation consistently involved themselves in community related projects and the sponsoring of an event such as this was very much in keeping with Company policy . "We are helping to further superior architecture and modern methods of building not just in Sri Lanka, but in the region" said Nelson.
The countries participating this year will be China, India, Japan, Singapore, Thailand, Mongolia, Pakistan, Philippines, Malaysia, Indonesia, Macau, Bangladesh, Korea and Hong Kong, with Australia and Vietnam attending as observers.
Market Comment
Low Growns market revivedThe market for Low Growns revived this week. The best leafies that had been losing out in value over the past three sales revived sharply. Below best and other teas were also dearer. The smaller quantity on offer at this week’s limited auction tended to concentrate demand for all three segments. Next week’s larger sale will test the depth of demand.
In the Ex Estate catalogues the Tea for Price category moved up in value once again, with signs of activity for the CIS/Russia. The BOPs in particular enjoyed a stronger market. The corresponding BOPFs, which were already selling at a distinct premium, did not see similar price rises. Price conscious buying tended to capsule the bottom and below best teas into a narrow range.
Export figures for the period January — September released by Customs illustrates vividly the reaction of exporters to the Russian crisis. Exports to the CIS in September was a nominal 1 million kilos. In July exports to this destination was 5.7 MKg. When the problem started in August it dropped to 3.7MKg. September exports are most likely against outstanding pre-paid orders. With this poor performance the todate figure of 36. 4MKg is now behind the 41.6Mkg recorded for the same nine month period last year.
The growth of the U.A.E.as a major terminal market this year is startling. There has been a 56% increase of exports to the U.A.E. This has taken the 1997 figure of 15.8MKg to 24.8 MKg in the current year. It is also significant that Jordan has diminished as a terminal market consequent to the resumption of direct exports to Iraq, even though negotiated through third parties.
