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| Tuesday, 1 July 2003 |
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Business in brief People's Bank deposit raising venture yields successful returns The deposit raising venture of the People's Bank, "Jaya Sri 3" has yielded successful returns. This deposit raising venture launched in 2000, continued in 2001 and 2002. The opportunity of entering the "Jaya Sri" lucky draw competition was afforded to anyone who had a minimum deposit of Rs. 10,000 or more in a Savings Account, or a balance of over Rs. 5,000 in a Current Account in any Branch of the People's Bank. The first prize awarded at the "Jaya Sri 3" of 2002, was a dwelling house worth Rs. 4,000,000. Other prizes such as gold coins on a daily basis, motor cars on a monthly basis, and other valuable items were presented to the "Jaya Sri" winners. Accounts such as "Isure Udana", "Sisu Udana" and "Vanitha Vasana" introduced by the People's Bank, the normal Savings Accounts and the Current Accounts had been included in this scheme. While the total "Jaya Sri 2" Savings deposit in 2001 was Rs. 60,058 million, it reached a growth level of Rs. 67,376 million at the Jaya Sri 3" in 2002. The growth of Rs. 7,318 million during a period of one year, was 12.20%. The average Current Account deposit in 2001 was Rs. 15,326 million and it increased to Rs. 19,199 million in 2002, recording a substantial growth of Rs. 3,873 million. The People's Bank continued the success of this scheme for 2003. Lankan Entrepreneur of the Year 2002 awards The eighth annual Sri Lankan Entrepreneur of the Year 2002 awards program considered the highest national honour for the local business community was launched last Wednesday in Colombo. The event is being organised by the Federation of Chambers of Industry and Commerce (FCCISL). There will be 312 awards including the prestigious Platinum trophy. According to the Chairman of the Organising Committee, Tissa Jayaweera Rs. 6 million will be spent to host the event. "We are organising this event to reward and motivate local entrepreneurs to optimise their entrepreneurial skills to reach the highest echelons of achievement, bring honour and glory to themselves, their enterprises and Sri Lanka." He said that the islandwide program spans over eight months. "The main event will be held at the BMICH." Registered enterprises which have been in existence for over five years are eligible to enter the awards scheme in five Micro, Small, Medium, Large and Extra large categories. Entries for the Sri Lankan Entrepreneur of the Year 2002 awards program could be collected from FCCISL provincial and district chambers and entries close on August 15 with the FCCISL, level 3, Vauxhall Lane, Colombo 2. Facets 2003 to focus on Blue Sapphire The year 2003 declared as the year of the Blue Sapphire in Japan, will be the main focus of Facets 2003, which will be held for the 13th consecutive year in Sri Lanka from September 8 to 10 at Colombo Hilton. Sri Lanka is the only source in the world for the best natural untreated blue sapphire. With the focus on the Blue Sapphire, Facets 2003 will put on display the most colourful collection of precious stones for the visual delight of gem merchants from foreign countries, attending this major event in Sri Lanka. Facets 2003 is now an acclaimed international gem and jewellery event, providing a venue for local gem traders to interact with their foreign counterparts for the display of an exclusive selection of precious stones of great value and beauty where the buyers can make their choice selection while the sellers can market their valuable cargo. Facets 2003 has been a sell out this year with an unprecedented demand for stalls with firm bookings for 75 stalls. It is sponsored by the National Gem and Jewellery Authority and Sri Lanka Export Development Board. Dept. of Commerce doubles revenue The Department of Commerce had doubled its revenue during the first half of this year, compare to the corresponding period in 2002. The Department has earned Rs. 10 million from commercial activities during the period, against the first half figures of 2002, which was about Rs. 5 million. Commercial activities of the Department include issuing country of origin certificates and holding awareness seminars and workshops for the corporate sector on various international trade related issues and other such activities. Under the guidance of Commerce and Consumer Affairs Minister Ravi Karunanayake, the Department is planning to become self-sufficient in generating its own income in future, without depending on the Treasury, through various projects in blueprint such as providing consultancy services to the private sector. Ceylon Chamber workshop on Packaging for Export The Ceylon Chamber of Commerce in collaboration with Fair Trade Assistance, Netherlands and the Exporters Association of Sri Lanka will hold a two-day workshop on Packaging for Export shortly at the JAIC Hilton Tower. This will be of use for exporters, manufacturers and people responsible for the actual packing process in an organisation, specially for those in the areas of home decorations, gifts, toys, ceramics, coir, other handicraft items and processed foods. Ms. Inge op ten Berg of the Netherlands and John Hinton of the United Kingdom, consultants to Fair Trade Assistance, will be the resource personnel at this workshop. Among the topics to be discussed are the packing chain, risks and stress in transport, costs of packing and methods, materials and packing lists. |
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