The 30th edition of FACETS Sri Lanka, Asia’s premier gem and jewellery exhibition organised by the Sri Lanka Gem and Jewellery Association (SLGJA) in partnership with the National Gem and Jewellery Authority (NGJA) and the Export Development Board (EDB) will be held in Colombo next year.
It will be held at the Atrium Lobby of the Cinnamon Grand Hotel from January 06 – 08, 2024.
The SLGJA, formed in 2002, is the apex body for the gem and jewellery industry in Sri Lanka and represents all subsectors of the trade.
Over the years, FACETS Sri Lanka has become an important event in the international gem and jewellery calendar. This year too, it will serve as a much looked-forward meeting point for the global gem and jewellery sector, attracting prominent traders, gemstone and jewellery wholesalers, exporters, manufacturers, lapidarists, retailers, and collectors from across the globe.
A press conference was held in Colombo on October 03 to elaborate on the event.
FACETS Sri Lanka Chairman – Mr. Altaf Iqbal, SLGJA Board Member – Mr. Saman Amarasena, NGJA Chairman – Mr. Viraj De Silva, EDB Chairman – Dr. Kingsley Barnard, General Manager of Cinnamon Grand Hotel – Mr. Kamal Munasinghe and Mr. Rizan Nazeer, the Chairman of Local Promotion Committee of NGJA attended the press conference.
No support from tourism authorities! FACETS Sri Lanka President Altaf Iqbal, who attended the event, shared his views on the upcoming exhibition and new features of FACETS Sri Lanka 2024, including the newly added Sustainability Pavilion and Sapphire Design Pavilion.
He added that the Ministry of Tourism and other authorities were informed about this exhibition, which can be promoted successfully among tourists. However, it is regrettable that they have not given any support to this exhibition, he said.
Many new features and booths There will be a host of new additions to the show, such as the Sustainable Pavilion and the Sapphire Masterpiece Pavilion.
There will be several Pavilions showcased at FACETS Sri Lanka 2024 including the Premier Gem Pavilion, Premier Jewellery Pavilion, Sustainable Pavilion, Sapphire Masterpiece Pavilion, Rough Stone Pavilion, Gem Lab Pavilion, NGJA SME Pavilion, and the SLGJA Gem and Jewellery Pavilion. The event will also feature a special ‘Reminisce of the Past’ Event.
The Premier Gem Pavilion has been a part of FACETS Sri Lanka since its inception.
It will consist of leading Sri Lankan gem dealers who have been a part of FACETS Sri Lanka over an extended period of time, showcasing their gems for sale. The Premier Jewellery Pavilion will consist of prominent local jewellers, displaying their gems and finely crafted jewellery.
The Sustainable Pavilion is a first for FACETS Sri Lanka and will present the historical evolution of Sri Lanka’s gem and jewellery sector, along with its sustainability-related methods and approaches. It will also display the 2300-year history of the Sri Lankan gem trade from mine to market.
The Sapphire Masterpiece Pavilion, which is another first in Sri Lanka, will display large, precious stones, and will be on sale on the final day of the show. The Rough Stone Pavilion will feature and display rough stones from all sourcing countries of the world.
The Premier Gem Lab Pavilion brings together leading local and international gem labs together under one roof. The NGJA SME Pavilion will offer selected SMEs from across the country to showcase their gems and jewellery. The SLGJA Gem and Jewellery Pavilion will showcase gem and jewellery stalls from SLGJA members.
The ‘Reminisce of the Past’ event will feature a variety of speakers including senior gem and jewellery merchants who will speak about a variety of topics including how business was conducted in the past, and how the industry has evolved from the early years of humble beginnings, to what it is today.
Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated transport utility, has announced the commencement of operations at the Colombo West International Terminal (CWIT) at the Port of Colombo. Developed under a landmark public-private partnership, CWIT is operated by a consortium comprising Adani Ports & SEZ Ltd, Sri Lankan conglomerate John Keells Holdings PLC, and the Sri Lanka Ports Authority, under a 35-year Build, Operate, and Transfer (BOT) agreement.
The CWIT project represents a significant investment of USD 800 million and features a 1,400-metre quay length and 20-metre depth, enabling the terminal to handle approximately 3.2 million Twenty-foot Equivalent Units (TEUs) annually.
It is the first deep-water terminal in Colombo to be fully automated, designed to enhance cargo handling capabilities, improve vessel turnaround times, and elevate the port’s status as a key transshipment hub in South Asia.
In a joint statement, Adani Group Chairman Gautam Adani has said, “The commencement of operations at CWIT marks a momentous milestone in regional cooperation between India and Sri Lanka…Not only does this terminal represent the future of trade in the Indian Ocean but its opening is also a proud moment for Sri Lanka, placing it firmly on the global maritime map.”
John Keells Group Chairperson Krishan Balendra pointed out that the project strengthens Sri Lanka’s position as a regional maritime hub.”
“Together with the Sri Lanka Ports Authority and Adani Group, we will elevate Colombo’s status as a leading transshipment hub. We are confident that the project will enhance global trade and connectivity in the region,” he adds.
Construction began in early 2022 and has since achieved rapid progress. With the installation of cutting-edge infrastructure now nearing completion, CWIT is poised to set new benchmarks in operational efficiency and reliability in regional maritime logistics.
Egg prices have increased with days before the Sinhala and Tamil New Year.
The price of an egg, which ranged between Rs.28 – Rs.30 last week, has increased by Rs.04 – Rs.06 recently.
Accordingly, the current price of an egg ranges around Rs.32 – 34 or more in many parts of the island, with further price hikes expected in the coming days.
With the upcoming festive season, egg prices are rising and vendors expect further hikes in the coming days.
Regular trading at the Colombo Stock Exchange has been temporarily halted due to the S&P SL20 index dropping over 5 per cent from the previous close.
The market has been halted for 30 minutes, the CSE said.
Trading at CSE is suspended if stocks fall below 5 per cent from previous close which triggers the circuit breaker set out by the Securities and Exchange Commission of Sri Lanka.
Earlier, Asian markets plunged, deepening a global stocks rout triggered by US President Donald Trump’s trade war.