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Intex Sri Lanka 2024 redefines international sourcing for garment industry

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By: Staff Writer

August 12, Colombo (LNW): The 15th edition of the premier international textile sourcing platform in South Asia Intex Sri Lanka 2024concluuded in Colombo recently facilitating trade and innovation, and driving business opportunities to support the country’s garment exports.

Over the last 10 years, Intex Sri Lanka has been at the forefront of Sri Lanka’s textile and apparel sector, playing a pivotal role in facilitating trade and innovation, and driving business opportunities to support the country’s garment exports.

“2024 presents a unique opportunity to reshape the global textile and apparel industry,” said Worldex India Executive Director and Intex Sri Lanka Organiser Arti Bhagat.

“Intex Sri Lanka is at the forefront of driving this transformation by connecting the Sri Lankan manufacturing powerhouse with global and regional stakeholders to create a more resilient, secure supply chain that prioritises efficiency and long-term industry sustainability.

It is setting new industry standards and solidifying our position as Sri Lanka’s premier B2B platform. Sector..

Dedicated country pavilions from China, India, Taiwan, Pakistan, Korea, and Japan with exhibitors from 12+ countries including Korea, Taiwan, Japan, Sri Lanka, India, Pakistan, China, Thailand, Netherlands, Germany, Luxembourg, and the USA presented the latest natural and MMF fibres and yarns, textiles and fabrics, trims and accessories, dyes and chemicals, and software solutions across four halls at the BMICH.

International buyer delegations from Russia, Mexico, India, and buyers from 20+ countries including Bangladesh, China, India, Indonesia, Japan, Maldives, Mexico, Myanmar, Pakistan, Qatar, Russia, Seychelles, Singapore, Taiwan, Thailand, UAE, UK, USA, and Vietnam visited  Intex Sri Lanka.

Buying teams from MAS Holdings, Brandix, Hirdaramani, Maliban, and many more visited Intex Sri Lanka to discover the next big thing.

The Textile Association India (TAI) is also partnering with Intex Sri Lanka and organised the TAI Overseas Conference at the BMICH, where industry leaders from India will network with Sri Lankan businesses at the day-long conference.

The Interactive Business Forum (IBF) Seminar Series shared actionable strategies to future-proof and grow your business internationally by industry experts.

Intex Sri Lanka also presented ‘Trendz Now – The Innovation and Fashion Zone’ by the University of Moratuwa, presenting the future of fashion, latest trends, innovations, upcoming designs, and movements in the fashion world.

This year also witnessed the debut of InMac, the international garment machinery and technology show co-located with Intex Sri Lanka.

InMac showcased the latest machinery and technology including printing, packaging, and automated systems, providing much needed solutions to drive efficiencies empowering Sri Lankan manufacturers and exporters to be globally competitive.

Endorsed by the EDB and the JAAFSL and its member bodies, Intex Sri Lanka is your launch pad to exponential growth.

Official exchange rates in SL today (Aug 12)

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August 12, Colombo (LNW): The Sri Lankan Rupee indicates appreciation against the US Dollar today (12) in comparison to last week’s Friday, as per the official exchange rates released by the Central Bank of Sri Lanka (CBSL).

Accordingly, the buying price of the US Dollar has dropped to Rs. 295.41 from Rs. 296.28, and the selling price to Rs. 304.66 from Rs. 305.45.

Wages Board sets new daily minimum wage for estate workers

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August 12, Colombo (LNW): The Wages Board has officially approved an increase in the daily minimum wage for estate workers in Sri Lanka’s tea and rubber sectors to Rs. 1,700.

Former Labour Minister Manusha Nanayakkara confirmed that this decision was made during a Wages Board meeting at the Labour Department today.

This increase follows legal challenges and opposition from plantation companies, which argued that the previous wage was unsustainable.

The Supreme Court’s intervention, which resulted in the cancellation of a previous Gazette notification, has led to today’s revised wage determination by the Wages Board.

Sri Lanka Original Narrative Summary: 12/08

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  1. President Ranil Wickremesinghe initiates a groundbreaking initiative to grant land rights to residents of line rooms by reclaiming plantation land from companies: Announced at a Nuwara Eliya business meeting, the plan includes housing development, public amenities, and support for local businesses: also pledges to address social justice issues for Tamil communities and plans a conference early next year.
  2. Former MP Dr. Jayampathi Wickranaratne PC, together with his party the United Leftist Front will back Samagi Jana Balawegaya (SJB) Leader Sajith Premadasa in the upcoming Presidential Polls: Wickranaratne had been a strong advocate for the adaptation of the 19th Amendment to the Constitution, which enforced restrictions to the powers of executive presidency, during the 2015-2019 Good Governance regime.
  3. NPP Leader Anura Kumara Dissanayake formalises his candidacy for the upcoming Presidential Election: The nomination papers were signed today (11) at the JVP headquarters, witnessed by key NPP figures, including General Secretaries Nihal Abeysinghe (NPP) and Tylvin Silva (JVP): The Presidential Election is scheduled for 21 September.
  4. Finance State Minister Ranjith Siyambalapitiya says pensioners will receive an additional Rs. 6,000 with their October payments, comprising a Rs. 3,000 interim allowance for October and Rs. 3,000 in arrears from September: This follows a Cabinet-approved proposal presented by the President: The Rs. 3,000 interim allowance will continue monthly until salary anomalies are addressed, adding to the Rs. 2,500 extra payment already provided in April: The Finance Ministry has granted formal approval, and the Public Administration Ministry is expected to issue a circular to facilitate the disbursement, but the Election Commission objected to the allowance being distributed in September due to the election announcement.
  5. The Committee on Public Accounts (CoPA) expresses concerns over a Rs. 254 million increase in the Basnagoda Reservoir project’s bid, now totalling Rs. 2,347 million, questioning the Irrigation Department’s adherence to financial regulations: also scrutinises irregularities involving Rs. 352.4 million in cheques and discussed issues with the Ging Nilwala project: Officials acknowledges errors and promised corrective measures.
  6. Minister Ali Sabry has been appointed as the new Minister of Justice, Prison Affairs, and Constitutional Reforms, officially taking oaths before President Ranil Wickremesinghe: The appointment adds to his current role as Foreign Minister: Sabry assumes these responsibilities following the resignation of Wijeyadasa Rajapakshe, who stepped down from his positions to participate in the forthcoming Presidential Election.
  7. The Election Commission reports a significant influx of complaints related to the upcoming Presidential Polls: reveals between 31 July and 11 August, a total of 337 complaints were lodged, encompassing various violations of election laws, including one instance of violence and seven other types of infractions: The National Centre for Election Complaint Management received 220 of these complaints, while 117 were recorded by the District Centres for Election Complaint Management.
  8. Sri Lanka’s remittances rose to $566.8 million in July 2024, contributing to a total of $3.71 billion for the year-to-date, a 10.3% increase from last year: This trend highlights the role of remittances in stabilising the economy, alongside recovering tourism and eased commodity prices: The Central Bank’s currency float in March 2022 has also boosted remittance inflows.
  9. Sri Lanka to formally adopt the Sinhala and Tamil translations of the Geneva Conventions, marking their 75th anniversary: The move aims to enhance awareness of International Humanitarian Law (IHL) within the island nation: expected to reflect Sri Lanka’s commitment to disseminating the principles of the conventions, which uphold human dignity during conflicts: A commemorative event themed “75 Years of the Geneva Conventions: Global and Sri Lankan Perspectives” will be held on 14 August in Colombo, featuring a panel discussion and a public photo exhibition at BMICH.
  10. Sri Lanka’s Chamari Athapaththu wins the ICC Women’s Player of the Month award for July 2024, besting India’s Smriti Mandhana and Shafali Verma: Her outstanding performance led Sri Lanka to their first Women’s Asia Cup title: Athapaththu, now a three-time winner of the award, played a crucial role with notable innings and key wickets, inspiring future female cricketers.

Sri Lanka Cricket Team embarks on England Tour amid security concerns

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August 12, Colombo (LNW): Following a successful ODI series against India, the Sri Lankan cricket team has departed for England to compete in a three-match Test series starting on August 21.

Interim Head Coach Sanath Jayasuriya has high expectations, urging players to excel in all facets of the game.

The team will play a warm-up match in Worcester before the first Test at Old Trafford, followed by fixtures at Lord’s and The Oval.

Newcomers Milan Rathnayake and Nisala Tharaka have been included, alongside experienced players like Angelo Mathews.

Despite security concerns due to recent anti-immigrant riots in England, the England and Wales Cricket Board (ECB) has assured the team of comprehensive security measures.

Sri Lanka to adopt Sinhala and Tamil translations of Geneva Conventions

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August 12, Colombo (LNW): On the 75th anniversary of the Geneva Conventions, Sri Lanka will formally adopt the Sinhala and Tamil translations of the Conventions, enhancing awareness of international humanitarian law (IHL) within the nation.

This initiative reflects Sri Lanka’s commitment to disseminating the principles of the Geneva Conventions, which uphold human dignity during conflicts.

A commemorative event themed “75 Years of the Geneva Conventions: Global and Sri Lankan Perspectives” will be held on 14 August in Colombo, featuring a panel discussion and a public photo exhibition at BMICH.

AKD officially enters Presidential Race, signs nomination papers

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August 12, Colombo (LNW): MP Anura Kumara Dissanayake, leader of the National People’s Power (NPP) and Janatha Vimukthi Peramuna (JVP), has formalised his candidacy for the upcoming Presidential Election.

The nomination papers were signed today (11) at the JVP headquarters, witnessed by key NPP figures, including General Secretaries Nihal Abeysinghe (NPP) and Tylvin Silva (JVP).

The Presidential Election is scheduled for 21 September.

Chamari Athapaththu clinches third ICC Women’s Player of the Month Award

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August 12, Colombo (LNW): Sri Lanka’s inspirational captain, Chamari Athapaththu, has claimed the ICC Women’s Player of the Month award for July 2024, outshining India’s Smriti Mandhana and Shafali Verma.

Athapaththu’s stellar performance led Sri Lanka to their first-ever Women’s Asia Cup title, defeating seven-time champions India.

This marks her third such accolade, tying her with West Indies’ Hayley Matthews, behind only Australia’s Ashleigh Gardner.

Reflecting on her achievement, Athapaththu expressed gratitude for the recognition and highlighted its significance as an inspiration for aspiring female cricketers.

Under her leadership, Sri Lanka has achieved historic milestones, including their inaugural T20I series victories over England and South Africa.

July 2024 was particularly remarkable for Athapaththu, who played a pivotal role in Sri Lanka’s unbeaten run in the Women’s Asia Cup.

Despite a slow start against Bangladesh, she delivered a career-best 119* against Malaysia and followed it up with crucial fifties against Pakistan and India in the knockout stages.

Her all-round contributions, including three key wickets, further solidified her impact in Sri Lanka’s historic triumph.

Election Commission faces surge of complaints ahead of Presidential Polls

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August 12, Colombo (LNW): The Election Commission has reported a significant influx of complaints related to the upcoming Presidential election.

Between 31 July and 11 August, a total of 337 complaints were lodged, encompassing various violations of election laws, including one instance of violence and seven other types of infractions.

The National Centre for Election Complaint Management received 220 of these complaints, while 117 were recorded by the District Centres for Election Complaint Management, according to a media release from the Commission.

Pensioners to receive additional Rs. 6,000 in October payments

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August 12, Colombo (LNW): Pensioners in Sri Lanka will receive an additional Rs. 6,000 with their October payments, comprising a Rs. 3,000 interim allowance for October and Rs. 3,000 in arrears from September, announced Finance State Minister Ranjith Siyambalapitiya.

This follows a Cabinet-approved proposal presented by the President.

The Rs. 3,000 interim allowance will continue monthly until salary anomalies are addressed, adding to the Rs. 2,500 extra payment already provided in April.

The Finance Ministry has granted formal approval, and the Public Administration Ministry is expected to issue a circular to facilitate the disbursement.

However, the Election Commission objected to the allowance being distributed in September due to the election announcement.