Business
WISDOM IN THE LEAF
A generation of Tea Inspired Knowledge From Dilmah Tea & its History of Ceylon Tea initiative
Teamaking is an ancient art, framed in science, yet equally demanding of passion and expertise. The Wisdom in the Leaf is a publication that aims to harness the art, science, and knowledge that will inspire tea drinkers and guide Teamakers, through a unique collaboration with the men and women whose passion is a significant component in the reputation of Ceylon Tea. The project was initiated as a tribute to Sri Lanka’s global ‘Teamaker’, Merrill J. Fernando, and to the tea planters who make Ceylon Tea. It is published by Dilmah Tea in celebration of its Founder’s 70th year in tea.
Curated by a committee of tea industry veterans and scientists, ‘Wisdom in the Leaf’ captures the tacit knowledge that is only acquired through experience. The contributors each share their expertise in a seminal work that is an invaluable resource for tea planters of the present and future.
The History of Ceylon Tea project was launched in August 2003 with the objective of sharing ‘One of the greatest stories that has ever been told.’ Dilmah Founder Merrill J. Fernando explained his family’s vision in undertaking the project, “‘Dilmah gained consumer recognition globally on the strength of the finest Ceylon Tea, and it is only logical therefore that we should reciprocate, by giving future generations of Sri Lankans the opportunity to study and understand the heritage of one of the world’s greatest plantation industries. The Sri Lanka Tea Industry is today the lifeblood of this nation and Sri Lanka is best known in many countries for ‘Ceylon Tea’.”
Received with great acclaim by scientists and authors including Dr. S. D. G. Jayawardena (former Chairman of the Tea Research Institute), Jane Pettigrew (tea historian and author of 17 books on tea), Dr Nalini C. Gnanapragasam Sivapalan (former Deputy Director Research at the TRI) amongst others, Wisdom in the Leaf is the most comprehensive compendium of knowledge of Ceylon Tea that has been produced in the past five decades.
20 veteran planters with a collective experience of more than 500 years, contributed their knowledge while eminent scientists including Dr. Tanuja Ariyananda, Dr. Rohan Pethiyagoda, Dr. Tissa Amarakoon, and Daya Wickramatunga add critical scientific context.
The content spans agricultural, factory and manufacturing practices, the fundamentals of plantation management and important sustainability themes including rainwater harvesting, climate change and the environment. These topics are presented in an engaging style to make the book as readable for tea drinkers with an interest in the provenance of their cuppa, as for researchers and tea planters.
Topics covered include Personnel Development, Human Resources, Forestry and Conservation, Water Resource Management, Diversification, Buildings and Housing, Financial Accounting and Control, Transport, and Climate Change Adaptation.
The final chapter – “From the World of Science” – comprises contributions from reputed names in the scientific community, and cover topics such as Climate Change and Tea, Rainwater Harvesting, Mechanised Harvesting, Biochar, and the Health Benefits of Tea.
The concept for this publication was conceived by Dilhan C. Fernando, CEO of Dilmah Tea, and with his father Merrill J. Fernando’s blessing, this idea evolved into a tribute to tea planters and workers, the stewards of Ceylon Tea. The entire proceeds from the sale of each book will go to the MJF Foundation’s Vocational Training Scholarships for Plantation Youth.
The publication is a by-product of Dilmah’s History of Ceylon Tea (HOCT) project, whose Editor David Colin-Thomé was the Project Leader and Editor-in-Chief of ‘Wisdom of the Leaf’. The 336-page, hard-cover book is a mix of easy-to-read information interspersed with technical data and contemporary and historical photography. The latter includes a selection of never-before published historical images received from private family collections.
The Publication Committee comprised Jayantissa Ratwatte, Vernon Tissera, Bhatiya Jayaratne, Jivaka Atapattu, Kavi Seneviratne, Anura Gunasekera, and Monte Holsinger as the Technical Editor, with David Colin-Thomé as Editor-in-Chief. The contributors are Monte Holsinger, Vige Bede-Johnpillai, Dyan Seneviratne, Vernon Tissera, Jivaka Atapattu, Bhatiya Jayaratne, S.K. Seneviratne, Ernie Daniels, Bernard Holsinger, Saman Munasinghe, Jayantha Jayawardene, Anura Gunasekera, Malin Goonetileke, Sarath Imbuldeniya, Russell Tennekoon, Ryle Perera, Steve Morrell and Nimal Amerasekera. From the world of science, the contributors are Dr. Tanuja Ariyananda Ph.D, Dr. Rohan Pethiyagoda B.Sc, Dr. Tissa Amarakoon Ph.D, and Daya Wickramatunga M.Sc.
I am confident that this book is destined to become the Bible of the future planters, University students and many others.
Dr. S.D.G. Jayawardena – Former Chairman Tea Research Institute (2006 to 2015) and former Director General, Department of Agriculture.
I was pleased to see the names of veteran planters, many of whom I have had a close association with at some time or other during the time I was at the Tea Research Institute of Sri Lanka. Who else other than such experienced men are suited to write a compendium of this sort? Interacting with men of such calibre and imbibing their practical knowledge had helped many of us scientists in designing our field experiments to suit different agro-climatic zones.
Dr Nalini C. Gnanapragasam Sivapalan – Agricultural Consultant & Research Adviser and former Deputy Director, Research at the Tea Research Institute of Sri Lanka
What is truly remarkable is that information which might appear rather dry and academic in an ordinary textbook is brought to life on these pages through the clever use of typeface, page layout, the division of the text into manageable paragraphs, and illustrations that bring the story to life.
Jane Pettigrew – Tea specialist, historian, writer and consultant. Since 1983, she has been working in the UK and around the world to explain and share the fascinating world of tea.
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Business
Unlimited music streaming platform in Sri Lanka
SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.
The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.
Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.
SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce
Business
Sri Lanka using ‘sovereign power’ over economy: CB Governor
by Sanath Nanayakkare
Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.
“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.
“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.
“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.
“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.
The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.
The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’
Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.
Business
CSE on the rebound; indices close positive
By Hiran H.Senewiratne
CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.
The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said.
It is said the banking sector dominated turnover with a contribution of considerable parcel trades in Sampath Bank, Commercial Bank and HNB.
Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.
Further, Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.
Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions.
During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.
Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.