Business
Sri Lankan industry represented at Asian Palm Oil Alliance launch for promoting sustainability
At the initiative of the global sustainable agriculture specialist Solidaridad Network, the apex edible oil industry associations from five major palm oil importing countries from Asia – India, Pakistan, Sri Lanka, Bangladesh and Nepal – have come together for the first time to form an Asian Palm Oil Alliance (APOA). The Alliance commits to work across the world to ensure that palm oil is recognised as a high-quality, economical, and healthy vegetable oil and to change the negative image of palm oil.
Speaking on occasion, Shri Atul Chaturvedi, President of the Solvent Extractors’ Association of India (SEAI) said, “The need for Asian palm oil consuming countries was felt for a long time. The formation of APOA empowers several Asian countries for whom palm oil is a source of affordable food and nutrition. The APOA is expected to safeguard the economic and business interests of the palm- oil consuming countries and create a level playing field for all fats and oils used in food, feed and oleochemicals in Asia. It will further work towards increasing the consumption of sustainable palm oil in member countries”.
Dr Shatadru Chattopadhayay, Managing Director of Solidaridad for Asia, said: “We are happy to be the neutral convenor of all significant Asian solvent extractors associations. In the coming years, we believe APOA will emerge as one of the most vital forums to address common problems, interests and aspirations of the global palm oil industry. In the decades to come, the rising wealth of Asia will further boost the regional demand for palm oil. We expect APOA would be soon joined by the palm oil producing countries from Indonesia, Malaysia and Thailand”.
Dr. Rohan Fernando, President, Palm Oil Industry Association of Sri Lanka said “The role of APOA is crucial in the facilitation of collective and coordinated efforts of both Asian palm oil- producer countries and Palm oil consuming countries for sustainable palm oil. It will strengthen Asia’s role in palm oil sustainability efforts. We are also pleased to have the opportunity to support this initiative and are grateful to both the Solvent Extractors Association India and Solidaridad for inviting the Palm Oil Industry Association of Sri Lanka to be a founder member of the APOA and look forward to achieve many milestones together; for the greater good of sustainable palm oil contributing towards economic sustainability and prosperity in Sri Lanka and the region.”
Oil palm is considered to be one of the most competitive vegetable oil crops in terms of productivity, yet this ‘wonder crop’ is often mired in brutal controversies that can hurt the communities associated with its production and commerce. The ban on palm oil production by the Sri Lankan government has resulted in exchange losses and opportunity cost amounting to millions of dollars to the economy. Sri Lanka annually imports 180,000 to 220,000 MT of vegetable oil. This can be met with 50,000 ha of oil palm compared to 271,000 ha of coconut. Oil palm yields 4 to 5 times oil per ha than coconut. Oil palm plantations have served Sri Lanka for over 54 years, starting around 1968 and generates the highest profits per ha compared to other commercial crops – which establishes oil palm as the most profitable crop for smallholders. In terms of wages for plantation workers the daily wages per month for workers: Oil palm worker at LKR30,000 – LKR50,000 which is significantly higher than that of tea estate workers and rubber tappers – making it a viable solution for poverty alleviation as well.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
