Sri Lanka's 'green gold’ brings wealth, health and happiness

Updated 04 February 2018
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Sri Lanka's 'green gold’ brings wealth, health and happiness

RIYADH: Sri Lanka, the fourth-largest tea producer in the world, is celebrating the 150th anniversary of the industry’s birth with the world’s largest “tea party.”

A “Global Ceylon Tea Party” was hosted at Sri Lankan missions worldwide, including its embassy in Riyadh, with government officials and tea industry representatives saluting tea’s place in the island’s history and modern economy.
Sri Lankan tea, known for generations as Ceylon tea, has a unique heritage. The industry that began as a diversification experiment in 1867 on just 19 acres of land has today expanded to supply 19 percent of global demand.
Known for its signature taste and aroma, Sri Lanka’s tea provides a major source of income for the country and is its leading employer. The island has a 5 percent share of global tea production and a 17 percent share of world tea exports.
Tea remains the backbone of the island’s economy, with annual export earnings averaging around $1.5 billion, or 15 percent of foreign exchange revenue.
With 65 percent of the export agricultural income, the tea industry contributes about 2 percent to the island’s gross domestic product. More than 2 million people are employed directly and indirectly, with 10 percent of the country’s population depending on “green gold” for its livelihood.
Sri Lanka was the first tea-producing country in the world to introduce national branding, with Ceylon tea linked to the lion logo. The brand remains a source of pride because of its global popularity and unmatchable quality.

Exceptional diversity
Although tea makes up almost 45 percent of all exports in value-added form, what makes Sri Lanka’s national product truly unique is not volume but exceptional diversity.
Tea plantations in Sri Lanka are categorized around three distinct elevations — high grown, medium grown and low grown. Teas are classified into seven agro-climatic regions, Nuwara Eliya, UdaPussellawa, Uva, Dimbulla, Kandy, Sabaragamuwa and Ruhuna, based on location.
Due to its diverse topography and climate, Sri Lanka produces an array of specialty teas with different flavors, aromas, strength, and color that are almost impossible to replicate.
Commercial secretary at the Sri Lankan Embassy in Riyadh, Gayan Rajapaksa, said the island’s tea was sold to the Saudi customers after blending it with tea from other countries.

High standards
Ceylon tea is also the cleanest tea in the world in terms of pesticide residues, according to the ISO Technical Committee responsible for quality assurance.
Sri Lanka was the first country to achieve the “Ozone Friendly Tea” label recognized under the Montreal Protocol Treaty and is the proud owner of the first Ethical Tea Brand of the World recognized by the UN Global Compact.
The lion trademark symbolizing pure Ceylon tea pre-packed in Sri Lanka has been registered in more than 100 countries by the Sri Lanka Tea Board, the government organization regulating and promoting the industry.
Retail packs that carry the trademark are guaranteed by the tea board to consist of 100 percent pure Ceylon tea pre-packed at source and conforming to standards set by the authorities.


US Air Force in UK says a small number of drones spotted flying over bases in eastern England

Updated 8 min 43 sec ago
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US Air Force in UK says a small number of drones spotted flying over bases in eastern England

The Air Force hasn’t identified who is believed to be behind the incursions
Unspecified mitigation measures are underway

LONDON: The US Air Force says a number of small drones have been detected near three bases in eastern England that are used by American forces.
Tuesday’s ongoing incident comes just days after drones were spotted near RAF Lakenheath, RAF Mildenhall and RAF Feltwell. They were actively monitored after they were seen in the vicinity of and over the three bases, US Air Forces Europe said in a statement on Sunday.
The Air Force hasn’t identified who is believed to be behind the incursions. Unspecified mitigation measures are underway.
Lakenheath is home to the 48th Fighter Wing, which the US Air Force describes as the foundation of its combat capability in Europe. Mildenhall hosts the 100th Air Refueling Wing, and Feltwell is a hub for housing, schools and other services.
Lakenheath, Mildenhall and Feltwell, located close to one another in the counties of Suffolk and Norfolk, are Royal Air Force bases used primarily by the US Air Force

Israeli ministers advance bill to privatize Kan, shutting down country’s last public broadcaster

Updated 13 min 8 sec ago
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Israeli ministers advance bill to privatize Kan, shutting down country’s last public broadcaster

  • Communications Minister Shlomo Karhi says public broadcast is ‘obsolete,’ no longer serves its original purpose of addressing Israel’s multiculturalism
  • Critics argue bill ‘fundamentally alters Israeli media,’ could lead to punitive measures against media

LONDON: Israeli ministers have approved a controversial bill to privatize the country’s public broadcaster, the Israeli Public Broadcasting Corporation (Kan) within two years, effectively eliminating Israel’s last remaining public media outlet.

The proposal, backed by Communications Minister Shlomo Karhi and Likud MK Tally Gotliv, received support from the Ministerial Committee on Legislation on Sunday.

If passed, the bill will require the government to issue a tender to sell the broadcaster’s television and radio networks. Should no private operator come forward, Kan will be shuttered and its archives and intellectual property rights transferred to the state.

The Attorney General’s Office has raised significant legal and practical concerns about the legislation, describing it as a direct threat to press freedom.

In a position paper sent to Justice Minister Yariv Levin, Deputy Attorney General Avital Sompolinsky and Adv. Meir Levin warned the proposal sent a “clear and serious” signal that critical reporting or content unfavorable to the government could lead to punitive measures against media outlets.

“The bill’s immediate significance is the full and total elimination of public broadcasting in Israel, fundamentally altering Israeli media,” they wrote. “Such a drastic decision cannot be made hastily through a private bill, without a solid expert foundation, and in contradiction to the government’s prior approach to this matter”.

Proponents of the bill argue that public broadcasting is outdated and has become “obsolete,” citing Kan’s “exceptionally large budget” and alleged low viewing figures.

They further argue that the move is necessary to “increase competition” in the media market, saying that the widespread availability of internet platforms and multi-channel television means public service media no longer serve their original purpose of addressing Israel’s multiculturalism.

Addressing the company’s employees, Kan CEO Golan Yochpaz rejected these claims, accusing the government of undermining press independence and manipulating statistics.

“They’re trying to confuse us with linear television viewing data, an outdated statistic that is irrelevant to public television, which does not need to sell advertising,” Yochpaz said, warning privatization would deprive millions of viewers of free access to events like the Eurovision Song Contest and World Cup.

The Journalists Union and Media Employees Union also condemned the proposal, calling it a “serious blow to press freedom” and a threat to the job security of Kan’s employees.

The unions warned that the bill undermined democracy by silencing critical voices and eroding journalistic independence.

The move comes amid heightened tensions over media freedom in Israel. Just hours earlier, the Knesset severed ties with Haaretz following comments by publisher Amos Schocken referring to Palestinian militants as “freedom fighters.”

The newspaper decried the decision, describing it as “another step in Netanyahu’s journey to dismantle Israeli democracy.”


Militia detains 300 migrants in the desert in Libya’s effort to contain sea crossings

Updated 12 min 51 sec ago
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Militia detains 300 migrants in the desert in Libya’s effort to contain sea crossings

  • The group in a post on Facebook condemned smuggling and human trafficking and said its patrols would continue efforts to block smuggling routes
  • The apprehensions come as Libya remains a primary point of departure for men, women and children from the Middle East and Africa aiming to reach Europe

TRIPOLI: Libyan military officials said Monday they apprehended hundreds of migrants traversing the country’s vast desert hoping to ultimately cross the Mediterranean Sea in pursuit of a better life in Europe.
The 444 Brigade, a powerful militia group that operates under the auspices of the Libyan army, said in a statement that its patrolling commanders detained more than 300 migrants and referred them to authorities.
The group in a post on Facebook condemned smuggling and human trafficking and said its patrols would continue efforts to block smuggling routes. It posted satellite images of the desert and pictures of what appeared to be migrants sitting in rows in front of armed and masked militants.
The apprehensions come as Libya remains a primary point of departure for men, women and children from the Middle East and Africa aiming to reach Europe. Many are escaping war or poverty and many employ smugglers to help them negotiate treacherous deserts and sea routes. Roughly 38,000 people have arrived in Italy and Malta from Libya this year, according to UNHCR, the United Nations Refugee Agency.
The overcrowded boats used by migrants and smugglers are known to routinely capsize and a key priority for European leaders has been to encourage North African countries to prevent migrants from reaching the sea. But unlike in Morocco and Tunisia — where tens of thousands of migrants also attempt to pass through en route to the southern shores of Europe — fighting between rival governments in Libya has added additional challenges to migration management partnerships.
Migrant apprehensions are rarely reported in Libya, though the country’s state news service LANA reported more than 2,000 arrests in July.
The oil-rich country plunged into turmoil after a NATO-backed uprising toppled longtime dictator Muammar Qaddafi. Since then, the country has been divided between dueling governments in the east and west, each backed by militias and foreign powers. Human traffickers have for years benefited from the political chaos.
United Nations High Commissioner for Human Rights Volker Türk in July said migrants in the country had been subjected to torture, forced labor and starvation while being detained.


Pakistani conglomerate Descon announces local incorporation in Saudi Arabia

Updated 18 min 44 sec ago
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Pakistani conglomerate Descon announces local incorporation in Saudi Arabia

  • Pakistan’s Descon Engineering operates in the engineering, power and chemical sectors
  • It has a long-standing strategic partnership with the Olayan Saudi Holding Company 

KARACHI: Pakistan’s Descon Engineering, which operates in the engineering, power and chemical sectors, on Tuesday announced the incorporation of Descon Engineering Arabia, a registered entity in the Kingdom of Saudi Arabia, in partnership with its long-standing strategic partner, Olayan Saudi Holding Company (OSHCO.)

OSHCO is a Saudi-based diversified business enterprise with commercial and industrial operations spread across Saudi Arabia and the wider Middle East and North Africa regions. The company’s portfolio includes more than 25 companies operating in five sectors, namely, food and beverages, restaurants, health and personal care, information and communications technology (ICT), and energy.

Descon, a group of companies headquartered in the eastern Pakistani city of Lahore, is active in UAE, Qatar, Saudi Arabia, Kuwait, Oman, Iraq, and South Africa.

“This significant development reaffirms Descon’s continued commitment to the Kingdom and highlights its focus on localization within Saudi Arabia,” Descon said in a statement. 

“Through Descon Engineering Arabia, the company is further expanding its regional footprint, reinforcing its position as a trusted and established service provider dedicated to meeting the needs of customers across the Kingdom.”

The company said the “new chapter” had strengthened its resolve to make a broader global impact, ensuring enhanced value delivery to clients in Saudi Arabia, while supporting the development of local talent and capacity building.

“As we establish Descon Engineering Arabia in partnership with OSHCO, we reaffirm our commitment to the Kingdom of Saudi Arabia and its vision for sustainable growth. This step represents a deepening of our long-standing relationship with the region, enabling us to deliver tailored solutions while contributing to local talent development and capacity building,” Taimur Saeed, CEO of Descon Engineering, said. 

“We look forward to fostering stronger collaborations and continuing to serve the Kingdom with the reliability and expertise that have defined our journey for nearly five decades.”

Through Descon Engineering Arabia, Descon Engineering is positioned to deliver even greater value, continuing its “dedication to excellence and local growth” for customers in Saudi Arabia and the region, the company added. 


Closing Bell: Saudi main index closes in red at 11,736 

Updated 29 min ago
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Closing Bell: Saudi main index closes in red at 11,736 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, with the index shedding 51.65 points to close at 11,736.07. 

The total trading turnover of the benchmark index was SR5.15 billion ($1.37 billion) with 54 of the listed stocks advancing, while 179 declined.

The Kingdom’s parallel market Nomu also slipped by 0.85 percent to 30,602.83, while the MSCI Tadawul Index inched down by 0.22 percent to 1,474.39.  

The best-performing stock on the main market was Riyadh Cables Group Co., with its share price surging by 7.56 percent to SR128.  

Media giant MBC Group’s share price soared by 6.83 percent to SR50.80, while the stock price of Elm Co. increased by 4.03 percent to SR1,105.  

Conversely, the share price of Jadwa REIT Saudi Fund slipped by 5.12 percent to SR10.38.  

On Nomu, the top gainer was Miral Dental Clinics Co. The firm’s share price increased by 14.63 percent to SR113.60. 

In announcements, the Saudi Investment Bank stated that it has completed the debut offering of its $750 million dollar-denominated Tier 1 Sustainable Sukuk, issued under its $1.5 billion Additional Tier 1 Sukuk Program. 

The bank confirmed that the offering will be settled on Nov. 27, and the sukuk will be listed on the London Stock Exchange’s International Securities Market. 

SAIB’s share price rose by 0.57 percent on Tuesday, closing at SR14.04. 

Saudi Reinsurance Co. announced that it has received approval from the Kingdom’s Capital Market Authority to increase its capital by offering 26.73 million shares, while suspending preemptive rights, at a value of SR427.68 million. 

The reinsurance firm’s share price increased slightly by 0.11 percent to SR45.50. 

Tamkeen Human Resources Co. stated that it will begin trading on Saudi Arabia’s main market on Nov. 27. 

The daily and static fluctuation limits for the company’s stocks will be set at 30 percent and 10 percent, respectively, during the first three days of trading. 

From the fourth day, the daily price fluctuation limits will revert to ±10 percent, and the static price fluctuation limits will no longer apply.