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No support from tourism authorities to SL’s largest gem exhibition!

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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. 

BIZ

Indigo launches Mumbai-Colombo direct flights

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Indigo has expanded its connectivity to Sri Lanka adding Mumbai-Colombo direct flights from today (12), Airport and Aviation Services (Sri Lanka) (Pvt) Limited said.

Accordingly, Indigo will operate flights three times a week on Tuesdays, Thursdays and Fridays.

At present, Indigo operates to three destinations in India from Colombo (Chennai twice daily, Bengaluru once daily and Hyderabad six days per week). With this new route expansion, this will increase to four destinations, and it will contribute immensely to the development of travel, trade and tourism between Sri Lanka and India. 

With the new addition, Indigo will operate 30 weekly flights to Colombo from four main cities in India.

“AASL recently had successful negotiations with Indigo to commence flight operations between Jaffna and Chennai, India. Accordingly, Indigo will commence direct flight operations between Jaffna and Chennai from June 1, 2024 onwards with daily flight operations. This connectivity will boost travel and trade in the Northern Province, strengthening the cultural and religious bonds between the two nations”, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said.

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Questions raised on investing in the Ceylon Dollar Bond

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Personal Foreign Currency Accounts (PFCs) and Business Foreign Currency Accounts  (BFCAs) cannot be invested in the Ceylon Dollar Bond Fund, says a spokesman of the Foreign Exchange Department at the Central Bank of Sri Lanka.

He said that banks are well aware of this.

The spokesman was responding to ‘Sri Lanka Mirror’ on queries raised on social media promotions being done by Ceylon Asset Management Co. Ltd, with regard to such investments.

Ceylon Asset Management Co. Ltd. is also a company that is registered with the CSE.

The spokesman further notes that the CBSL has only permitted them to invest in ISBs.

However, promotions done by the company have indicated that dollar investments can also be done through PFCs, and that the investors can expect around a 24% dollar returns.

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Experts state that expecting such high profits in ISB investments, is questionable.

Upon contacting the DG of Ceylon Asset Management Co. Ltd, – Dulindra Fernando, he briefly stated that the CBSL has permitted their company to do such foreign fund transfers while some banks have refused to do so.

However, he urged to submit a formal request via email for further details.

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SLT divestiture allowed

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The Court of Appeal yesterday vacated the Interim Order issued on the divestiture of the Sri Lankan Government-owned shares in Sri Lanka Telecom PLC.

The Interim Order was earlier issued by Court on April 4 when two Writ applications challenged the proposed divestiture of the Sri Lankan Government-owned 50.23 percent shares in Sri Lanka Telecom PLC and 51.34 percent shares in Lanka Hospitals Corporation PLC.

The petitions were filed by Lyca Mobile SARL, Lyca Leasing Holding Ltd, Pettigo Comercio International LDA and HAIMS International Ltd.

When the petitions were considered before Court of Appeal Judge Mohammed Laffar, Additional Solicitor General Sumathi Dharmawardena appearing for the Deputy Director General and the members of the State Owned Enterprise Restructuring Unit Established under the Finance Ministry, Secretary to the Treasury and the Attorney General raised preliminary objections highlighting several technical errors in the power of attorney and the affidavit submitted is not valid.

Accordingly, the court vacated the said Interim Order on the divestiture of Sri Lanka Telecom PLC and informed the petitioner of this particular petition to submit fresh power of attorney by April 29 and request for an interim order if necessary. However, the Interim Order issued on the divestiture of the shares of Lanka Hospitals Corporation PLC was extended by the court until April 29.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

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