PUBLISHED BY THE TIMES OF SRI LANKA IN TORONTO, CANADA VOLUME 18 – APRIL 2012

Over 1200 foreign buyers and investors attend EXPO 2012 Sri Lanka President Mahinda Rajapaksa officially opened EXPO 2012 around 10:30 am on March 28, flanked by Industry & Commerce Minister Rishad Bathiudeen and Sri Lanka Export Development Board Chairman Janaka Ratnayaka. Over 1200 foreign delegates, diplomats, trade commissioners, corporate and business leaders were present to take in the engaging opening ceremony at BMICH. Addressing the large gathering, President Rajapaksa welcomed the delegates and distinguished guests and said that Sri Lanka is now open for business and invited the delegates to invest in Sri Lanka. “Peace has dawned on the country and Sri Lanka is experiencing a tremendous growth pattern that is consistent with a rapidly developing country”, said the president.

President Rajapaksa explained that Asia, as a region is acclaimed today as the new economic hub of the world, and along with this positioning Sri Lanka is making giant strides to build its vision as a strategically important economic centre within the region. “This is why Foreign Direct Investment (FDI) in Sri Lanka has more than doubled in the past year. Statistics of new inflows to the Colombo Stock Exchange (CSE) remain buoyant just as much as the inflows of investment in commercial banks. Foreign investors are ready to place their trust in Sri Lanka’s Development bonds. CSE has also seen many new Initial Public Offerings (IPO),” said the president.

“International hotel chains like Shangri-la, Sun City and Sheraton have decided to invest in Sri Lanka, while there are many others in the investment pipeline. Investors are comfortable with Sri Lanka’s conducive business environment and confident that they will be at the receiving end of a substantial return on investment. Tourist arrivals have been surging in the last couple of years re-inforcing the fact that Sri Lanka is a desired tourist destination in the world”, added the president.

Even before Sri Lanka President Mahinda Rajapaksa had made these remarks, the world’s top business leaders had shown an interest in Sri Lanka. Some of the success stories are listed below.

• A leading international real estate agency, Savills, based in London, had already opened an office in Colombo while a Malaysian consortium will be building the country’s first speed rail link to the Colombo Airport. • The London Eye, which was just a dream to the SAARC region, too would soon be seen in Sri Lanka while a cable Car service which had been talked about for two decades would also be a reality in less than two years. British investors would be handling this project. • Kalpitiya is to have the region’s first seven-star hotel in three years with a Dubai investment while Nuwara Eliya would have the region’s first hotel which could be accessed only by helicopter. This investment would come from a German high-end hotelier. • The Colombo harbour is currently being upgraded while the second international airport and harbour in Hambantota and the international port in Kankesanthurai would enable access to Sri Lanka from many points, bringing the country even closer.

The Export Development Board, which is hosting the Expo after 15 years, has spelt out in its strategic plan for the year 2011-2015, an overall target of US$ 15 billion of export earnings. Despite the World Trade Organisation forecasting only 5.8 percent world export growth for 2011, Sri Lanka’s export sector showed strong resilience, by registering a highly commendable growth rate of 22.37 percent in comparison to 2010, said Minister of Industry and Commerce Rishad Bathiudeen. The main objectives of hosting the Sri Lanka Expo 2012 is to promote Sri Lanka’s trade, investment and tourism; to re-position the island as a lucrative business, investment and tourism destination in Asia and to instill buyer confidence in Sri Lanka’s quality products and services, all of which will facilitate the business community.

“I am very happy to state that the export sector of Sri Lanka makes up 17 percent of Sri Lanka’s GDP. The positive performance achieved by the export sector in 2011 was led by industrial and agricultural sectors. Agricultural exports, which accounted for 23 percent of the total export earnings, grew by 11 percent while industrial exports, which accounted for 75 percent of the total export earnings, grew by 27 percent.”

“Sri Lanka has not been diminished by false propaganda that is being spread by those who are trying to prevent investments flowing to our country,” he said.

“Expo 2012 is a viable platform for the UAE to identify the export product portfolio of Sri Lanka. In fact, we did not know that Sri Lanka has such a huge export portfolio until today,” said Director of Government Communications Department and Ministry of Foreign Trade of the UAE Rashid Al Telaji. “We are surprised by your vast export portfolio and we gained new awareness on Sri Lanka. Having seen your portfolio, we are now keen to see potential possibilities of more trade with Sri Lanka. I shall be conveying more businesses and corporates in the UAE of Sri Lanka’s trade potential,” he added. The UAE is the second largest Arab economy and the fourth largest oil exporter in the world. Its growth was four percent for 2011 and this growth will be powered by new technologies.

Sri Lanka Expo 2012 provided an opportunity to display and promote quality export products on a single platform and more than 300 leading companies in exports representing apparel, tea, rubber, footwear and leather products, ICT/BPO/KPO, gems and jewellery, food and beverages, spices and allied products, coconut and coir-based products, For global exposure, confectionery and bakery products, fish and fisheries products, fruits and vegetables, boat building, ceramic and other Advertise in the popular mineral products, giftware and lifestyle products, handloom, wooden products, spa and herbal products, ornamental fish, TradeWinds e-Magazine floriculture and plastic, paints and allied products, electric and electronic products, ship repairing and ship building, and services sectors. Over 1,200 overseas buyers from strategic markets participated in the event. Expo 2012 opens eight fronts “Lets accept it that Sri Lanka made a statement to the world with Expo 2012 that we are open

to business. Even though the event had its own limitations like the faulty air conditioner at the launch, the fact is that the private sector received strong business leads by way of the six hundred foreign delegates came for event. Let's look at the event positively”

Lets accept it, Sri Lanka made a statement to the world that we are open for business with Expo 2012, even though it had its limitations like the faulty air conditioner at the launch that grabbed media attention. Whilst some can say that the shine was taken off the event due to the very uncomfortable launch event which may be true, the fact of the matter is that post May 2009, some may have been exposed to only media reports that Sri By Rohantha Athukorale Lanka was safe for business. Courtesy: Daily News Apr.10 But, Expo 2012 addressed this gap and made the six hundred plus foreign delegates experience the beauty and tranquility of Colombo city together with the two hundred odd media personnel, which in my view was a big win for Sri Lanka. Kids fashion show

I am in no way advocating that the shortcomings must be over looked but I feel we as Sri Lankans at this moment of time must view Sri Lanka positively so that we signal the correct vibes globally. BBC had covered some components live whilst Aljazeera had aired three segments dedicated to the event. CNN had also telecasted same which gives us an indication of the exposure that Sri Lanka received. Yes it was not perfect but at least Sri Lanka tried and this should be the spirit in today's competitive world in my view though things could have better given that this was one of the key events globally for a any country.

Working against all odds No 3: Driving Business

My mind goes back to the time when the height of the Let's accept it, the essence of Expo 2012 is the Buyer - Seller meetings and the sales ground operation against the LTTE was in motion in leads that were generated. From the feedback that I got from a cross section of stall December 2008. The government decided to stage the 1st participants it was very positive. Some even received hard orders. May be we should Industrial Exhibition in Jaffna so that the south will begin have spent more on this area by upping the overall impact of a stall and may be to engage the North and there by avoid the LTTE having carpeting across the different buildings. The SME building in particular could instigating the people of Jaffna. There were three of us have got some funding to look better were the comments of the stall holders. End of appointed to champion this project. It was a challenging the day 70% or more exports proceeds come in from the SME sector. May be this is a task given that all logistics had to be done by sea or air cue to Expo 2014. because the A9 was not accessible at that time due to heavy fighting. The event attracted 304,000 people from No 4: System Friendly the Jaffna peninsular and 168 companies from Colombo.

A Mobitel official stated that a mobile phone at Rs.5000 Whilst some can be critical to the organizes of international events like Expo 2012 and was not the need for the youth of Jaffna but a 45,000 one. before this IIFA but the reality is that working under the current FR's and AR's in the I guess that that was the day that the Private sector public sector procurement system can be very tough. I feel If Sri Lanka is keen on realized the potential that Jaffna peninsula had to offer for becoming a serious venue for international events then we have to stream line the business growth. Similarly, Expo 2012 also generated this financial regulations and the Administrative regulations so that it will not be a typical feedback. Like for instance the Kuwaiti delegation public sector organized event. May be its best that a private-public partnership mentioned that they never knew Sri Lanka's export product portfolio was so organization be set up to cater such events so that decision making is quicker and wide. Let me share one more event that happened during the height of the war. scrutiny post the event does not happen due to political reasons or ideology. May be It was in 2008 when a core team of us under the leadership of the Sri Lanka ROI based culture can come in so that its only internal and it does not have to Tourism Bureau championed the 1st ever Hikkaduwa Beach Fest. There was dragged to public eye like like what we saw post the launch event of Expo 2012. many who bickered that the event will not become a reality as Sri Lanka was under the cloud of terrorism at that time but, the event attracted 17,000 revelers No 5: Infrastructure other than roads into the beautiful beach stretch of Nari Gama where all hotel rooms were booked in the vicinity during the 5 day event. The event was not perfect but today this event has the potential to carve out a niche in South Asia as the ‘Party Another emerging fact is that Sri Lanka must invest on infrastructure other than roads Beach’ for a youngster. Similarly, the Expo 2012 in my view is the only the so that we can cater to the strategies of the private sector. In this respect the issue of beginning for more iconic events to be staged in Sri Lanka. What is required Solid waste management and the soft skill training required to stage international now is to pick up the learning's from the healthy debate that we see in the events of this stature should be addressed. This includes high visibility hoarding sites media and not get demotivated with adverse publicity that happened due to the in Colombo. May be we need to take these learnings for the forthcoming faulty air conditioner at the launch. Commonwealth Conference that is scheduled to happen in 2013 in Sri Lanka.

No 1: First Impression - As the great Malaysian President Mahathir No 6: Wholistic Media Mohomed mentioned in his last visit to Sri Lanka, the essence of the success of Malaysia is that it took decisions with pragmatism rather than just following At the Expo 2012 Syposium, one speaker from a super power government made some western business models. He went on to say that, it is only a Sri Lankan that can cutting edge statements on the social fabrication of the North East which was strange feel the vibes of the local community and the culture that it fosters. Hence, what as it was more a trade event. I guess this is the reality of the world and Sri Lanka must ever decision that is taken must be in this perspective than pleasing global be ready to face this challenge post the Geneva vote. A Nation Branding campaign is super powers. Whilst Expo 2012 took place in the background of the uproar of a must in my view. This can be either category driven like Tourism and Tea or it can the international community post the Geneva fall out, yet, Sri Lanka was able to be Nation led. We must address this new challenge positively is my view. attract a commanding global partnership to the event that included some key CEO's coming in their private jet. Whilst this is very positive, the point is that the 1st impression we gave them due to the faulty air conditioner created a negative No 7: Sector pavilion outburst in the media. Even though in my view the overall exhibition was a success due to the many sales leads received by the stall holders as well as the Given that Sri Lanka's sector specific strategies are very developed and in fact are very impactful International symposium that took place at Hilton, the perception setting trends globally may be we need to have communicated the same ethos at created at the ‘launch’ totally clouded the event. This was very unfortunate but Expo 2012. This could have included the “Ethically Manufactured Apparel”, Ozone that is the reality of the world. As the psychologist Shiffman and Kannuk said Friendy Ceylon Tea, Ceylon Cinnamon, Sri Lanka Handlooms just to name a few. A key Perception is more important than reality in today's business world. Lets learn pick up to me from the Expo 2012 Symposium was that Ceylon Sapphires can be from this fall out and make sure that in Expo 2014, this does not happen. marketed under the theme Ethical Mining and Polishing. May be this sector specific pavilions can be an idea that can be fleshed out at Expo 2014. No 2: High Expectations

No 8: Inclusive organising I yet remember the 1st lesson I learned in my initial studies of marketing. Do not create too much of expectations before the event as it increase the bar on the customer expectation that sometimes the product cannot deliver. This leads to Another insight that came out strongly at Expo 2012 was the stronger support by the cognitive dissonance. I feel Expo 2012 feel into this trap. Starting from the touch chambers. The integration of the chamber support when staging such events which point of arrival to the hotel, transport to the venue, greeting at the launch event, are of international repute must be mandatory. But for this to happen there must be seating arrangement, ease of witnessing the launch event, the duration of the inclusive organizing and inclusive invitation where the hero is Sri Lanka. We must take event Sri Lanka fell short of the expectation created due to the pre event strong a que from India on this, where we see that post the event the winner is the country media. This can be a lesson for Expo 2014. If I may take a parallel when China and no one else. May be this is a key learning for Expo 2012. hosted the last Olympics it down played the pre event media and focused on improving the product and related infrastructure and the attention to detail on Conclusion - Hence just because the air conditioner malfunctioned at the launch execution. China invested a staggering 40 billion dollars fir the Beijing Olympics. one cannot come to a conclusion that Expo 2012 from overall sense lost impact. A Almost 26 billion dollars was spent on improving the Transportation which more wholistic evaluation is required which I guess must be done. included railway hubs, new railway lines, improvements to the Beijing subway and Tiajin expressway which actually had no links to the Olympics. But, did it take way the shine of Expo 2012? May be yes, but the attitude required is to pick up the learnings shape the events that are to be staged in Sri Lanka in the future May be Sri Lanka should have done the same and used the Expo 2012 to do a than look back. Let's also keep in mind that the positive vibes that we demonstrate face lift to the infrastructure and may be staged Expo 2012 once BMICH was today will become the image of the country tomorrow. ready to host such a event. Then we would not have had to erect a make shift building to stage the launch event. Ideally, the Expo 2012 launch event should The above view are the authors own personal views and not the views of the have been at the main auditorium of BMICH. Sri Lanka must learn this game organization it serves in Sri Lanka or Internationally. He is actively involved in the from world when staging global events. Focus on the macro plan and the detail development agenda of the country. workings than just working on the targeted event.

FOREIGN CURRENCY – EXCHANGE RATES Source: Central Bank of Sri Lanka as at April 30, 2012

CURRENCY BUYING RATE SELLING RATE BUYING RATE 30-DAYS SELLING RATE 30-DAYS AGO AGO Dollar - US 127.9500 131.7700 119.6700 122.9400 Dollar - Canadian 129.7200 135.1500 119.1600 124.0700 Dollar - Australian 132.8300 138.6700 127.8100 133.3600 Dollar - Singapore 102.8500 107.0100 94.7800 98.5500 Pound Sterling (UK) 207.8500 215.0300 188.9100 195.3600 Euro (EU) 168.6300 175.1800 159.5900 165.7200 Yen (Japan) 1.5887 1.6550 1.4821 1.5434 Franc (Switzerland) 140.0600 146.2400 132.1400 137.9000

Economic Outlook: A tough year ahead but measures in right direction Broking firm Arrenga Capital Ltd., has come up with an analysis on the outlook for Sri Lankan economy capturing some of recent developments and their implications. Here are excerpts: Economic Summary: Delayed decision to curb excessive credit growth Sri Lanka’s excessive credit growth experienced in the 2H2011 coupled unsustainable rupee peg was leading the country to a fresh Balance of Payments crisis forcing the Government and the Central Bank to unpopular policy decisions to slow down economic growth and address the balance of payments situation which is required for long sustainable economic growth. The major policy developments included; . Hike in government policy rates . Imposition of a maximum limit for loan book growth of Commercial Banks for . Allowing flexible exchange rates 2012 . Sharp upward revision of fuel and electricity prices . Increase of import duty on motor vehicles . Direction to limit credit for purchase of motor vehicles The above decisions have resulted in a sharp rise in interest rates gradually improving liquidity in the system and decelerating demand for credit. The imports are likely to show steep decline in the short to medium term with the depreciation of the rupee and the decline in purchasing power of consumers leading to an improved balance of payments position. The approved IMF funds are likely to bring back confidence to the investors and stabilize the exchange rate. With these measures economic growth is likely to slow down during the next 6 months while a recovery of economic activity is expected beyond August 2012. Economy overheating amidst a sharp rise in credit growth. Year 2012 initiated with the GoSL implementing several controversial regulatory measures aimed at addressing a number of serious macroeconomic issues which were imposing considerable threat to the sustainability of healthy growth in the economy. The policy measures were taken aftermath of a year of high growth in the economy (8.3% YoY Growth in GDP during 2011), where private sector credit growth exceeded original estimates by far, growing by nearly 34% YoY. The excessive credit growth was observed with trade related credit and credit driven by import related items such as motor vehicles & consumer durables growing substantially, whilst credit extended to government and public institutions had also escalated. The high credit growth was reasoned by several factors including low interest rates, import duty reductions (GoSL Budget 2010) & increasing disposable income in the economy, whereas credit to government magnified amidst a soft dollar peg. At the meantime, the credit to export related activity had grown by only 8% YoY during 2011. Amidst excessive domestic credit growth, the country’s import expenditure grew by 50.4% YoY to USD20.2bn during 2011, with imports of investment goods, petroleum & consumer goods escalating by 60.3%, 53.4% & 83.3% YoY respectively. Meanwhile, the export income of the economy grew by only 22.4% YoY amidst challenging global demand conditions. Thus, the country’s trade deficit widened to USD9.7 bn by end 2011. Nevertheless, the worker remittances grew by a steady 25% YoY to USD5.1 bn during 2011 providing some cushion to the worsening foreign reserve condition in the economy. IMF pulls out as Central Bank defends a currency peg Following the greenback sales by the CBSL to defend a currency peg and a rapid escalation in the import expenditure, the country’s foreign reserves fell sharply to USD5.9 bn by end 2011, from a high of USD8bn by end July 2011 following the sovereign dollar bond sale by GoSL. This inevitably prompted regulatory action amidst IMF calls for higher domestic interest rates and to float the currency to avoid a possible fresh BOP crisis. The tight financial market conditions were clearly reflected from the deteriorating liquidity position in the banking system, where the excess liquidity stood at LKR10 bn by end 2011 as opposed to LKR124 bn as of end 2010. The pressure on the economy kept creeping up amidst the above developments, which was worsened by the IMF’s decision to hold back the final two tranches of its USD2.6 bn bailout facility until the GoSL limit its forex interventions and take necessary steps to avoid a fresh BOP crisis. Corrective measures to address Balance of Payments position Consequent to the above issues, GoSL and the Central Bank implemented several serious measures which despite being subject to heavy criticism over a short term were necessary steps to ensure sustainable growth in the economy. These major policy developments included; . Hike in government policy rates to curb credit growth . Imposition of a maximum limit on bank credit growth numbers for 2012 . Allowing flexible exchange rates to improve external finances . Increasing import duty on motor vehicles . A sharp upward revision of fuel and electricity prices to match rise in global prices . Direction to Commercial Banks to limit credit for purchase of motor vehicles and reduce losses of the state entity

The combined impact of all the above measures would inevitably lead to a slowdown in the economic growth for 2012, thus the GDP growth forecast for 2012 was downgraded by the CBSL to 7.2% from an original estimate of 8%. The inflationary pressure which has been well controlled over the recent months is likely to witness some adverse effect over the next few months, particularly with the festive season also falling in. This was already evident as the country’s YoY inflation measured by CCPI increased to 5.5% during March 2012 from a 2.7% in February. This is likely to escalate further over the upcoming months with higher domestic interest rates, rupee depreciation and the government’s decision to increase taxes. On a conclusive note, we expect year 2012 to be bring about a series of changes as the economy focus on combating inflation and adjust itself for a period of slower growth. The higher interest rates & taxes would slow the credit growth in the economy. The rupee depreciation and expected slowdown in consumption driven imports are likely to improve the external finances over the medium term. The overall recovery of the economic growth would depend on how fast businesses adjust themselves for the changing conditions and return towards another pace of high growth. Equity market outlook Bleak short term but bright long term prospects. The recent policy measures introduced by the GoSL and the Central Bank provide a weak outlook for Sri Lankan Equities. The rise in interest rates provides an incentive to investors with a low risk appetite to shift their investment funds towards fixed income signaling selling pressure likely to be created with the market itself. The rise in fuel, electricity prices and increased taxes on motor vehicles are likely slowdown economic growth resulting in lower consumer demand and higher savings. Profit growth in most segments are downgraded as market earnings are likely to grow by only 7-8% for the financial year ending Dec 2012E / March 2013E. While most sectors are likely to record lower growth rates, sectors such as finance, leasing and motor sector may record declines in their profitability. We expect economic conditions and earnings of most companies to start improving towards August representing 3Q-4QCY12 resulting in a better second half for most companies with the expected improvement in economic conditions. As a result long term valuations of the market seem attractive with the tough policy decisions already implemented in the 1HCY12. Market valuations attracting foreign inflow. The Colombo Stock Exchange being crowned as the ‘Asia Best Performer’ during 2010 with a massive 96% YTD return, saw a reversal in trend during 2011 amidst an inevitable correction following a run which led the indices to exaggerate to highly unjustifiable levels. Hence, the benchmark index, having touched a peak of 7,800 points during February 2012, now trades at 5,400 levels indicating a mammoth 37% correction. Following the deep correction observed during 2011, the market entered a reasonable valuation platform as the market trailing PER dropped to around 10x (as opposed to +20x during its peak). The overall corporate earnings were also encouraging as the market earnings grew by c.123% YoY for the financial year ended Dec 2010/Mar 2011. Earnings for the financial year ended Dec 2011/Mar 2012E is likely to reach c.14% YoY despite the final quarter of March year end companies affected by the recent policy changes. As market valuations returned to attractive levels foreign investor interest was seeing gradually gathering momentum as the YTD net foreign inflow topped LKR20 bn compared with an outflow of LKR19 bn recorded during 2011. Delayed policy measures affects short to medium term prospects However, as discussed above several policy mismatches in the economy (CBSL’s effort to control both the interest rate & the exchange rate simultaneously), led to an increasing threat of possible fresh BOP crisis. Despite being rather late, GOSL introduced a number of remedial measures as discussed above, which is expected to slow down the growth of the economy during 2012. The rising domestic interest rates are likely to lead the investors to pull their investments out of the risky assets and invest in risk free instruments such as government securities over the short to medium term. Furthermore, the devaluation of rupee would immediately reduce the foreign portfolio values, albeit would encourage fresh foreign funds due to each stock now being cheaper for the foreign investors. The above developments are likely to hamper the short term prospects of the Sri Lankan equity as the prevalent uncertainty would lower the overall confidence level in the market, whilst a slowdown in market earnings growth would limit the overall upward potential in indices in the short term. Attractive long term prospects Nevertheless, we expect the current volatility particularly in interest rates & exchange rates to mild down towards the 2H2012, thus bringing some stability. We believe that the local companies would take some time to re-adjust themselves to the increased cost structure while domestic demand would also suffer in the short term and likely to improve towards August 2012. We believe most companies are likely to provide improved earnings towards the 2nd half of the current financial year (FY13) while growth rates in company earnings for Dec 2013 / Mar 2014 is likely to improve to 16-18%. Our market valuations are approximately 10.8x FY13E earnings while trading at 9.3x FY14E earnings. IMF releases $ 426.8 million to Sri Lanka

• Endorsement of economic performance • Total disbursements $ 2.13 billion

The International Monetary Fund’s (IMF) board of directors released $ 426.8 million to Sri Lanka after reviewing the country’s implementation of economic policies attached to a $2.56 billion loan. The IMF in a recent release said that the Fund had completed the seventh review of Sri Lanka’s economic performance under a programme supported by a Stand-By Arrangement (SBA). The completion of the review enables the immediate disbursement of an amount equivalent to SDR 275.6 million (about US$ 426.8 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 1.378 billion (about US$ 2.13 billion).

In addition, the Executive Board approved an extension of the arrangement period to July 23, to allow time for the completion of the eighth and final review.

The Executive Board also approved waivers of non observance for end-December performance criteria on net international reserves and reserve money. A redistribution of the remaining disbursements was also approved by the Board.

The standby arrangement was approved on July 24, 2009 for an amount equivalent to SDR 1.65 billion (about US$ 2.56 billion), or 400 percent of Sri Lanka’s quota.

Following the Executive Board’s discussion on Sri Lanka, Deputy Managing Director and Acting Chair Min Zhu stated: “The authorities have recently introduced a broad package of measures to rein in the current account deficit, stem the reserve loss, and bolster fiscal performance.

Monetary and credit policy have been tightened, petroleum and electricity prices increased, petroleum taxes raised, and the rupee trading band abolished to allow the exchange rate to adjust more flexibly.

The authorities are taking steps to mitigate the adverse impact on the most vulnerable.

Fiscal policy will also continue on a consolidation path, with the 2012 Budget targeting a reduction in the deficit to 6.2 percent of GDP. “The authorities intend to use the forthcoming FSAP update to strengthen the financial system further. Continued structural reforms to place the state owned energy enterprises on a financially sound footing will reduce demands on the budget.

“The adjustment measures implemented by the authorities have placed the economy on a more sustainable trajectory. However, it will take time for the new monetary and exchange rate regime to become fully established and the authorities will need to stand ready to adjust policies further to stabilize external reserves, especially if the global environment becomes less favourable,” Zhu said.

Galle's canned fish factory opens tomorrow

Sri Lanka's first ever semi-government owned canned fish factory constructed in Galle is to open tomorrow. This is a joint venture project between Ceylon Fisheries Corporation (CFC) and Happy Cook Lanka Food Pvt Ltd. At the initial stage, it is expected to produce 10,000 cans per day and CFC intends to increase the daily production capacity with the passage of time.

Ceylon Fisheries Corporation Managing Director Ruwan Lankeshwara speaking to Daily News Business said," at the initial stage of the project, more than 100 direct and 500 indirect job opportunities could be created through this factory and this would help generate more than 500 job opportunities every year.

"Vigorous promotional campaigns will also be launched to promote this product among Sri Lankan consumers and if it is well received by consumers across the country, we would be looking at opportunities in foreign markets as well. 'There is a huge global demand for salmons caught in Sri Lankan waters, but we have not been able to export canned fish products so far, 'he said.

"Annually Sri Lanka spends large sums to import salmon products hence initially, what we want is to curtail at least 30% of salmon imports to Sri Lanka.

CFC is also looking at possibilities in setting up another three canned fish factories in Matale, Peliyagoda and Mundalama and these projects are also to be implemented as public private partnership ventures,"he added.

Expo 2012 strenthened Sri Lanka’s tourism platform

Expo 2012, organized by the Export Development Board, provided an ideal opportunity to Sri Lanka Tourism industry to promote its product to the International Market. At the end of the event, Sri Lanka Tourism Promotion Bureau (SLTPB) had been able to achieve its targets successfully. The stall of the SLTPB was one of the eye catchers in the event as it symbolized the unique Sri Lankan identity. The visitors to the stall were entertained by the displays of practical craftsmanship of Sri Lankan masks, beeralu lace making and others. During the 4 days of the exhibition, the stall was also filled with mesmerizing cultural performances by the cultural dance troupes of Kirindiwela central college and Minuwangoda Nalanda Balika Vidyalaya in Gampaha district which was organized by Sri Lanka Tourism Promotion Bureau under the Ministry of Economic Development. Having foreseen the ideal opportunity of this event to the industry of tourism in Sri Lanka, SLTPB had already taken steps to establish an information desk in its stall, with the focus of providing information to the local and foreign investors. Sri Lanka Tourism Promotion Bureau, along with the EDB also took steps to facilitate 50 international journalists and 55 international travel agents to participate in Expo 2012.

Addition from the success of Expo 2012, Sri Lanka Tourism witnessed one to one meetings between the Sri Lankan and Foreign Tour operators achieving the expected goals. These meetings provided an excellent opportunity for local travel agents to cooperate with their international counterparts and thereby to develop and promote the products. These journalists and tour operated represented many countries of the world including Russia, USA, UK, Germany, France , China and many other East Asian nations. SLTPB plans to organize many other events of this nature in future, with the target of achieving the number of 950,000 tourists arrivals by the end of 2012. Sri Lanka Expo once in two years - next in 2014

Sri Lanka now wants to run its’ successful international ‘Sri Lanka Expo’ series once in very two years. “Under the directive of our President, Mahinda Rajapaksa, we are now planning to host this international series once in every two years. As a result, our next ‘Sri Lanka Expo’ series is now being primed to be held in early 2014,” Industry and Commerce, Minister Rishad Bathiudeen said.

Minister Bathiudeen announced this to the 13 member Chinese investment delegation that made a courtesy call on him on March 30 in Colombo. The delegation was organized by Beijing based Sino-Sri Lanka Rich Investment, led by Song Jien Hua, its Chairwoman. The 13 member Chinese Business delegation arrived as part of the overall 150 Chinese business group that arrived in Colombo to take part in the Sri Lanka Expo 2012 organized by the Export Development Board under the Industry and Commerce Ministry. The delegation comprised powerful, state of the art have state-of-art technology players in fertilizer, port development, energy, petrochemistry, cement, and machinery.

“We are now hoping to invest US $ 50 billion in Hambanthota Trade City Project,

Song Jianhua, Chairman of Sino-Sri Lanka Rich Investment and the leader of hoping to establish an international port that can compete with the Singapore Port Chinese Investment Delegation to Sri Lanka presents her firm's investment in 10 to 15 years and can bolster up Sri Lanka's ambition to be the hub of shipping profile to Industry and Commerce Minister Rishad Bathiudeen. in south Asia. We want to invest US $ 50 billion in this project” revealed Song Jianhua and added: “We had a good experience during this visit to Sri Lanka and believe the country has investment promise. We are committed to creating jobs and promote economic growth in Sri Lanka with financial strength.”

Responding to the Delegation, Minister Bathiudeen said, “The Expo 2012 and also the conducive business and investment environment you see today in Sri Lanka is a result of the development vision of our President Mahinda Rajapaksa. Last year we recorded 8.3% GDP growth and the safety of foreign investments in Sri Lanka are guaranteed by the constitution, some reasons Expo 2012 became a success. Under the directive of President Mahinda Rajapaksa we are now planning to host this international series once in every two years. As a result, our next ‘Sri Lanka Expo’ series is now being primed to be held in early 2014. We are ready to extend any form support as you may require when you come to invest with us” Minister Bathiudeen assured.

CCC joins Armenian Biz Union to promote trade The Ceylon Chamber of Commerce (CCC), entered into a Memorandum of Understanding with the Union of Manufacturers and Businessmen (Employers) of Armenia (UMB(E)A). The two organizations plans to strengthen trade ties and to allow members to explore new business opportunities in both countries.

Harin Malwatte, Secretary General and CEO of the Ceylon Chamber of Commerce and Yervand Tarverdyan, Board member of (UMB(E)A) signed the MOU on behalf of the respective organizations. UMB(E)A) is a not for profit, non governmental organization that unites businessmen who hold leading positions in Armenia.

Currently Sri Lanka exports tea, garments and ceramic items to Armenia. With the new co-operation with the Ceylon Chamber of Commerce, UMB(E)A) expects to strengthen trade between both countries as well as exchange of information, technical know- how, business delegations and a number of other trade facilitating measures. The Ceylon Chamber of Commerce actively promotes bilateral trade and attracting foreign investments to Sri Lanka. More details could be obtained from www.chamber.lk. Yervand Tarverdyan, Board member of (UMB(E)A) (left) and Harin Malwatte, Secretary General and CEO of the Ceylon Chamber of Commerce

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Many people, especially ignorant people, want to punish you Ask not what your country can do for for speaking the truth, for being correct, for being you. Never you – ask what you can do for your apologize for being correct, or for being years ahead of your country. JOHN F. KENNEDY time. If you’re right and you know it, speak your mind. Speak Truly inspiring……. your mind even if you are a minority of one. The truth is still Editor, TradeWinds the truth. MOHANDAS GANDHI

Geography has made us neighbours History has made us friends Economics has made us partners, A few wordsand Necessity from has The made usEditor! allies. Those whom God has so joined together, let no "Learn fromman yesterday, put asunder. live for today, hope for tomorrow. The important thing is not to stop questioning.”……..Albert Einstein

TradeWindsJOHN e-Magazine F. KENNEDY is an independent digital e-publication launched in 2010, and published monthly in Toronto, Canada by “The Times of Sri Lanka” – a wholly owned subsidiary of Ad-Bri Enterprises Inc. TradeWinds - is a by-product of The Times of Sri Lanka that was launched in Toronto in August 1990, in tabloid format. With the evolution of digital technology, the publishers decided to move with the future and thus – TradeWinds e- Magazine was launched. The editorial team comprise of free lance photo journalists, feature writers and business analysts mainly from Canada, Australia and Sri Lanka. Research, Advertising and Circulation matters are handled by the corporate office in Toronto. Production of the magazine including typesetting, layout and design is credited to our creative graphic design team at Ad-Bri Enterprises Inc.

Our Mission is to publish an extraordinary e-Magazine with quality content that is newsworthy, informative, non-political, interesting and accurate.

Our Vision is to optimize the use of s t a t e -of-the-art digital technology and graphics software to disseminate news via electronic medium - to the larger Sri Lankan global community and others interested in Sri Lanka, throughout the world!

To achieve the above, we hope to capture news from Sri Lanka, Canada, USA, Australia, U.K., and the world - from a wide spectrum of topics that include trade, tourism, investment, technology transfer, business, economy and industrial development; health, history and life events. Our feature writer’s will also provide investigative and personal reports of interest. “Sharing information for success”, is our tag line.

Currently, the magazine enjoys an estimated national circulation of over 7000 readers’ in Canada. It has a global circulation and mailed electronically to our readers’ in Sri Lanka, U.S.A., U.K., Germany, Italy, The Middle East, New Zealand, Australia, within the European Union and a few other countries. Recent surveys conducted by us estimate over 20,000 people read TradeWinds e-Magazine monthly, round the world. Feedback has been generous….which is truly encouraging. Many have contacted us via e-mail and telephone, with their thoughts and told us that the magazine is creative, well designed, informative and easy to read. Others talk about the ‘added value’ it provides to the reader. We are aware that the scope of this e- magazine is unlimited. On an ongoing basis, we value the input of many who stimulate our thoughts on what they like to see in the magazine. Feedback and interactive communication are valuable tools in the publishing business!

As publishers, we surround ourselves with other creative’s, sharing ideas that breeds’ new ways of thinking and presents alternate points of view on the same subject. We acknowledge that a few marketing vehicles can match the power of a high-content, free electronic e-mail digital newsletter delivered monthly to our subscribers’ “inbox”. We hope to fill this void and build a reputation that is credible. TradeWinds editorial team will faithfully work within the confines of accepted journalistic standards. We will never be compromised. We strongly believe that “Every news organization has only its credibility and reputation to rely on.” We hope to maintain ours!

With my best wishes to our valued readership and advertisers!

Upali Obeyesekere Managing Editor, The Times of Sri Lanka (TSL) Publishers of TradeWinds e-Magazine 58 Sundial Crescent, Toronto, ON. M4A 2J8 Canada E-mail (Editorial & Advertising) [email protected] Telephone: 416-445-5390/416-418-2207 Fax: 647-342-2967

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Sri Lanka: 91,102 tourists visited the island in March 2012 – up 21.3% over 2011 - strong showing from Western Europe, East Asia & Europe

The total number of tourist arrivals to Sri Lanka in March 2012 came in at 91,102 and went up 21.3 percent over March 2011. Figures showed an increase in the number of arrivals from Western Europe, Eastern Europe, East Asia, Middle East and North America. Tourists from Western Europe, the traditional tourist generating market, rose 35.6 percent to 40,686 in March 2012. The number of visitors from France went up 8.1 percent to 6,378, those from Switzerland up 87.8 percent to 2,345 and from Germany up 29.6 percent to 7,654. Eastern Europe visitors rose to 59.3 percent to 7,882 with tourists from Russia up by 56.7 percent to 2,998 and others went up 60.9 percent to 4,884. Arrivals from East Asia up by 44.3 percent to 10,148. Japanese visitors increased 14.9 percent to 1,752, visitors from Malaysia rose 47.3 percent to 1,958. Visitors from Singapore rose 30.6 percent to 1,564. North American visitors rose to 20.2 percent to 4,795.

SRI LANKA: FOLLOWING TABLE DISPLAYS TOURIST ARRIVALS IN 2012 COMPARED TO 2011 MONTH 2012 2011 % Change JANUARY 85,874 74,197 15.7 FEBRUARY 83,549 65,797 27.0 MARCH 91,102 75,130 21.3

The two Charts below illustrate gradual growth in tourist arrivals to Sri Lanka, over the years. CHART 1 – displays comparative monthly analysis of tourist arrivals for 2010, 2011 and 2012, Chart 2 – shows a 5-year breakdown of annual tourist arrivals to Sri Lanka from 2007 - 2011. It is clear that the last two years (2010 & 2011) have been good years for Sri Lanka tourism from a revenue earning standpoint.

SRI LANKA TOURIST ARRIVALS - COMPARATIVE MONTHLY ANALYSIS: 2010/2011/2012

97,517 100000 91,102 90,889 85874 90000 84627 83,786 80000 72251 74197 75130 72,463 83549 65797 70000 63,835 57300 55898 69,563 60000 52370 53,636 52352 44730 50000 47339 48,943 50757 63339 60,219 40000 35213 30000 38300 20000 10000 0 2010 2011 2012 January February March April May June July August September October November December

TOURIST ARRIVALS IN SRI LANKA FOR THE LAST 5-YEARS (2007 – 2011) 855,975

654,476

2007 1,000,000 447,890 2008 2011 800,000 438,475 2010 2009 494,008 600,000 2010 2009 400,000 2011 2008 200,000

0 2007

CHART DESIGN AND GRAPHICS: AD-BRI ENTERPRISES INC.

COLOMBO – A CITY LIKE NO OTHER!!!!! ADB Rates Colombo top city in Asia Pacific Region

According to Asian Development Bank (ADB), Colombo ranked first in the city competitiveness ranking among the top cities in the region. Colombo’s top ranking was due to it being most favourable in the apparel, finance, insurance, real estate, ICT, and hospitality sectors. The future demand for commercial office space in Colombo would be closely correlated with industries which had prospects for maximum growth, the ADB said. The ADB said the growth in the textile and apparel industry would result in demand for retail and industrial space, while the growth in financial, insurance and ICT sectors would require the generation of quality space. The growth in the hotel and restaurant sector would result in development of hospitality real estate, it said. According to a recent report launched by Jones Lang LaSalle, a real estate advisory and management firm, which launched its 81st Asia Pacific Regional office in Sri Lanka yesterday, the rental affordability, apart from the World Trade Centre (WTC), which offers office space at Rs. 260 per sq ft, per month, the majority of required space is provided in the CDB and SBD for Rs. 100-150 per sq ft, per month. The office space at WTC, which was rented at Rs. 135-150 per sq ft per month, during 2009 and its increase during the last three years explains the rapid appreciation in rents witnessed by Colombo CBDs. The report also highlighted that the occupancy of office space in Colombo had increased from a low 60 percent in 2009 to 90 percent in 2011. With more than 7.5 million sq ft of office space in Colombo and 765,000 sq ft under construction, 6 million sq ft on the drawing board would not be sufficient to cater the rising demand, according to the report. An additional 4.5 million sq ft would be required by the financial sector and 7 million sq ft for the ICT sector will be needed, it said.

Land prices in Colombo have appreciated rapidly in the last four years according the report, with prime land parcels in the CDB being offered at Rs. eight to nine million per perch and in SBD at Rs. four to five million, the construction of offices in the core of the city will imply a high rental expectation. Currently, leapfrogging is the phenomenon practiced, which develops real estate at locations further away from the city where the land prices are cheap despite the ongoing improvements in infrastructure connectivity, the report highlighted. With the rising number of tourists and the government targeting 2.5 million arrivals by 2016 the hospitality infrastructure would be required to grow by 3.5 to four million sq ft per year with more than 75 sixty roomed hotels developed per annum. According to the report, hotel occupancy across the country increased to 80 percent in 2011 from 48.4 percent in 2009. Hotels in greater Colombo enjoyed a occupancy of 80 percent in 2010 underlining the need for quality supply in the region. The tourism hot spot in the South Coast witnessed 71 percent occupancy, with the coastline before Galle enjoying higher occupancy than those beyond.

Colombo has become an exciting place with a big city flavour with tremendous tourist appeal. Eating out is a delight with an enormous variety of sit down and fast food restaurants popping out in the city. First it was the Shopping Precinct concept that includes a host of restaurants at the former Dutch Hospital which was making the rounds and now it is 'One Street Three Venues' at Park Street Colombo 2 - all indicating Sri Lankans' appetite for eating out and more importantly, the increase in their consumer spending. Colombo's nightlife as well as the 'day life' so to speak seem to be picking up fast with the post war peace mode kicking in, according to the owners of these establishments. Popular restauranteur, Harpo Gooneratne, of Harpo's Cafes and Restaurants running the three venues at the Park Street namely the Park Street Mews Restaurant, the Warehouse D and the Stables noted that the demand for good venues in Colombo is unprecedented. He along with many others stressed that Colombo lacks locations for functions. "Colombo really lack venues compared to countries such as Singapore, Malaysia, etc," he pointed out, on the sidelines of the launch of the three venues at Park Street, noting that now with the economy picking up consumer spending is also on the rise with new diners, restaurants and venues capitalizing on this demand. He noted that these venues aren't straight forward ballroom types and that they possess flexibility to host any type of event. Incidently some of the hotels too are expanding their ballrooms while the five-star hotels in Colombo are running at near-capacity. Colombo's nightlife is fast increasing and with that dining out, once thought to be a luxury, is now common. Now with increased purchasing power, the urban population has become wealthier, older, more educated, and more ethnically diverse than in the past. With such demographic changes, Colombo's needs will, according to Mr. Gooneratne, increase in the coming years.

DUTCH HOSPITAL The recent renovation and reopening of the long neglected Dutch Hospital has been a tremendous success. The first things you’ll notice are the mustard-coloured walls, the wooden windows, the teak roof beams and the old school terracotta roofing tiles. You walk through the large entry arch into a stone courtyard. It is light, airy, and filled with office workers from the nearby World Trade Centre. This heritage site has now been transformed into a shopping complex, with several restaurants included. While retaining the spirit of the original architecture, a lot of value addition has taken place through the transformation of the old hospital to a public open space housing high-end shopping and restaurant facilities. Most of the other outlets are restaurants. There is the Harpos run Colombo Fort Cafe. The cheerful blue furniture gave an earthy, home-like feel to this place. There are sandwiches and Dutch-themed food for between Rs. 650 to Rs. 1000. This place was already bustling with clientele. There were some cheaper pastries as well, for those on a budget. Then there’s the up-market Ministry of Crab, selling juicy, export-quality crabs starting at Rs. 2780. The Heladiv Tea Cafe serves iced teas for around Rs. 250 and cake (and vanilla meringue cupcakes!) for around Rs. 450. This has a “lounge” feel to it, and the reasonable prices should ensure its popularity. The shops and restaurants are all different, yet somehow tie together thanks to the decor. The courtyard is a place for people to meander; it has several stone tables set out invitingly. Leading off from the central courtyard are the entrance to several shops. ODEL is here, but this outlet sells Sri Lankan themed clothing rather than the usual merchandise.

The demand from the private sector for similar spaces is great. With that in mind, the old Colombo Racecourse, whose buildings were originally scheduled for demolition, are presently undergoing a transformation similar to that of the Dutch Hospital. The pavilions will be conserved and converted to suit new activities, with the area with road frontage being converted to an upmarket shopping complex. The ground itself will be converted to an international standard rugby ground. A third project of a similar nature is the conversion of the old Marketing Department building adjacent to the Dutch Hospital. Ishfa Nawal, Partner Choco Luv, a milkshake bar which started operations two months ago at Ward Place, Colombo 7 noted that they have made profits since the first month. Those big names and large operators are inking deals for new properties, which show that Sri Lanka is in the big league. Barista, Delifrance, Commons and Hotshots are some of the older coffee houses in town while Coco Veranda, Coffee Stop and Coffee Bean are the later additions and some of the latest chains which are gearing to start more branches in the Colombo suburbs. There is also Shilpa, a handicrafts shop selling unique items, everything from a tiny gold knife at Rs. 350 to a traditional devil mask (at around Rs. 11,000). Spa Ceylon and Natures Secrets are also tucked in unobtrusively at the back of the premises, should you be in the mood for some pampering.

Vesak viewing on Colombo City Tour Vesak is a time when Colombo comes alive with colour and spiritual festivity. It is an ideal and perfect time to showcase the city of Colombo amidst these unique celebrations. The Colombo City Tour, a unique venture by Sri Lanka Tourism and Ebert Silva Holiday offer exclusive and mesmerizing evening tours to both foreign visitors and Sri Lankans to view Colombo like never before during Vesak, on board its unique open deck double decker buses.the tours will commence from Galle Face Hotel for three memorable evenings on the 5th, 6th and 7th of May 2012. Scheduled for approximately 3 ½ hours, the Colombo City Tour will sightsee numerous colorful Vesak zones, many pandols and other vibrant activities scattered across the city. The tickets will be priced separately for upper and lower deck seating with snacks also served on board while on tour. The Vesak Tours have been a specialty eagerly looked forward to by the young and old alike, now for many seasons. “We are happy to operate 2 open deck double decker coaches for the first time during this Vesak. This is taking into account the many we had to turn down during the last season. It is a time of spiritual festivity and this Vesak will undoubtedly light and liven up the city of Colombo which is now opening up into a beautiful garden city.” said Rajini de Silva Mendis, Managing Director, Ebert Silva Holidays. The venture has now gained immense popularity and heightened the value of touristic experiences the city of Colombo has to offer to its visitors from around the world. Regular tours are operated three days a week, i.e. Friday, Saturday and Sunday. With both morning and evening tours starting off from the Galle Face Hotel and The Courtyard, the old Dutch Hospital. The weekend city tours give its guests on board comprehensive and matchless views into the less known history and importance of Sri Lanka’s foremost city, that is a rare blend of many cultures in a tapestry of ‘old and new’. Checkout www.colombocitytours.com for more details.

Whale Watching in Trincomalee Ebert Silva Holidays offer another unique package to Trincomalee on ‘Ocean Safaris'; their latest brand introduced for responsible Whale and Dolphin watching in Sri Lanka. Sri Lanka has gained international acclaim as the number one hotspot in the world to see Blue and Sperm Whales and is known to be an ideal location for close encounters with the largest mammal ever to live on earth and to witness numerous other varieties of Dolphins. An exclusive tour of 2 nights and 3 days is scheduled for the 2nd, 3rd and 4th of June. The tour itinerary includes a whale and dolphin watching cruise on a Sri Lankan naval vessel on day 2. The cruise will take off in the early hours of the day, where guests are able to utilize the expertise of professionals and sail in comfort. There will also be lifesaving teams and medical personnel on board with snacks and bar facilities adding further enjoyment to the memorable experience. The tour includes sightseeing of Pigeon Island, Kinniya hot wells, the Koneswaran Temple, city area and other places of interest. The package includes comfortable A/ C accommodation on full board twin sharing basis, luxury A/ C transport with day 1 breakfast and day 3 lunches at the Ambepussa Hotels Corporation Avanhala en route.

Sutainability is the key to tourism Climate change can be considered as the greatest challenge of our time; which also means that we have huge opportunities to turn the process around by advancing climate policy, energy efficiency, renewable energy and green jobs. This is the perfect opportunity for the community of the world to make a personal commitment to join together and create a global green economy. At Aitken Spence Hotels the staff is committed to safeguard and preserve air and water quality and reduce demands on mother earth. This philosophy is not practiced only on one day of the year but it is instilled in its day to day operation. Aitken Spence Hotels and Heritance Hotels in Sri Lanka have achieved a remarkable feat by having all nine hotels in Sri Lanka attain the prestigious Earth Check Silver status. Earth Check is the international benchmarking and certification programme for the travel industry based on the agenda 21 principles for sustainable development endorsed by 182 Heads of State at the United Nations Rio De Janeiro Earth Summit in 1992. The aim of the programme is to assist international organizations to attain sustainability by providing a certification system that responds directly to the major environmental problems facing the planet, including climate change, waste reduction and non-renewable resource management. In addition eight out of its portfolio of nine hotels in Sri Lanka are ISO 14001 certified.

'Aitken Spence has invested substantial amount of time and financial resources over the decades to make our hotels world-class examples of sustainability. We have found out that our business associates and our guests are keen to learn about the sustainability practices of the hotels than ever before. The unique sustainability features of our hotels are clearly giving us a marketing advantage. Our expertise gained in sustainability in Sri Lanka is spreading across to our hotels in the Maldives, India and Oman', said Malin Hapugoda, MD Aitken Spence Hotels. With a sustainability focus that transcends beyond mere operational to one that is strategic, Aitken Spence Hotels seeks to create an organization wide culture that in turn will inspire individuals to act as catalysts for global change. This sustainability vision will drive the Group's commercial objectives given the growing global demand amongst consumers for eco-tourism and sustainable tourism. Global tourism trends indicate that consumer choose destinations and resort properties that practice sustainable tourism in light of the opportunity to offset their individual carbon footprints.

Jetwing Hotels on Sustainability Initiatives

The name ‘Jetwing' has long been associated with caring, and a commitment to hospitality as well as the environment. For almost 40 years, the family owned company has grown tremendously, from humble beginnings in Negombo in 1963. Future projects, planned to bear fruit in the next three years, include the doubling of the current room inventory.

Amidst this rapid growth, many principles have not changed. The importance placed on remaining sustainability through energy efficiency and education, has been heightened with many new initiatives in place. The soon to be unveiled Jetwing Lagoon in Talahena, Negombo, formerly known as the Blue Lagoon and honoured with the distinction of being Sri Lanka's first resort hotel as well as the maestro Geoffrey Bawa's first hotel project will feature a central chilling system powered by a biomass boiler, as well as 100% illumination through energy saving lighting. Using the latest in technology to achieve such aims, the latest innovation to be used at

Jetwing is indeed a novel one: a completely self-sustaining mobile water purification and bottling plant. Powered by solar power, and depending on city watersup- ply, the plant purifies the water and prepares bottles (which are made of 30% recycled glass). Initial plans for the plant are for operations to begin in Negombo, to supply the four Jetwing hotels in the area, and to be implemented within the

other hotels as well.

The process of innovative measures doesn't stop there however; with the recent implementation of an enhanced composting process

utilizing technology from Norway's Agro Nova. The final product from the process can either be directly used as compost, or pelletized to be consumed as fuel for the bio-mass boilers.

Adam's Peak, Sri Lanka

wayside stalls and kiosks that serve by Alexander the Great. The Zaffer Namah refreshments, the goal of reaching the summit in Sekanderi, a 15th century Persian poem time to enjoy the spectacle of sunrise at the celebrating the exploits of Alexander says "he summit is made easy enough for the pilgrims fixed thereto chains with rings and rivets made and tourists of all ages. of iron and brass, the remains of which exist even today, so that travelers, by their assistance, Day ascent in the season: Alternatively, you can are enabled to climb the mountain and obtain climb up during the day, stay overnight at the glory by finding the sepulcher of Adam". summit, enjoy the spectacle of sunrise in the next day and then descend. The daytime affords However the Sinhalese records reveal that the the opportunity to climb at a leisurely pace, have chains were fastened onto the rock face by King plenty of time to enjoy the views all round, s e e Vijayabahu (1058-1114 AD). Location of the Adam's Peak the sunset and secure the best place to observe The Mahavamsa records a stipulation by King the sunrise in the morning. Vijayabahu: 'Let no one endure hardship who Adam’s Peak, Sri Lanka’s fourth highest goeth along the difficult pathways to worship mountain (2244m) is located 40km northeast of The Sama Chatiya at Adam's Peak the Footprint of the Chief of Sages on the city of Ratnapura. Distance from Colombo Samantakuta Mountain', he caused the village of to Ratnapura is 94km. On your track up, within a few minutes climb is Gilimalaya which abounds in rice fields and the Sama Chatiya, the World Peace Pagoda. This other lands, to be granted to supply pilgrims The setting: the significance in nature stupa was built by the famous Japanese with food. And at the Kadatigama road and at Buddhist monk Ven Nichi Fuji in 1976. Today it is the Uva road he built rest houses" Adam’s Peak is surrounded, largely by the maintained by several Japanese monks. Though forested hills, with no mountain of comparable not much could be made out of the stupa and In 1815, the British colonialist Major Forbes size anywhere round in the vicinity. The region the landscape in the night ascent, during the day witnessed a tragic though rare accident while of Peak Wilderness Sanctuary that encompass Peace Pagoda stands out dramatically with the ascending the Adam’s Peak Sri Pada "Several the Adam’s Peak together with Horton Plains backdrop of Adam’s Peak. natives were blown over the precipice, and yet National Park and Knuckles Range, all in the continued clinging to one of the chains during a Central Highlands of Sri Lanka is recognized as a The summit: Accommodation on the summit is heavy gust of wind; but in such a situation, no World Heritage Site in the year 2011. basic and you would have to bring your own assistance could be rendered, and they all food and perhaps a blanket or sleeping bag. perished.” Reaching the base of Adam’s Peak However, whenever you decide to go, check the Weather report before setting out. Rain can Ancient texts concerning Gauthama Buddha’s Main roads connect the final nodes of make for a miserable trip and it is more likely visits to Sri Lanka Nallanthanni to the city of Hatton, Palabaddala that cloud or mist will obscure the view. to the city of Ratnapura & Erathna to the city of According to the Mahavamsa, the historical Kuruwita. While the city of Hatton can be The sunrise at the summit and the shadow of chronicle of Sri Lanka Buddha visited the island reached by Highland Railway line as well as by the mountain three times. It was during the last sojourn of the main motor roads, the cities of Ratnapura Buddha, at the request of the deity of Adam’s and Kuruwita can be reached only by main When it was just about to sun rise at the summit, Peak God Maha Suman Saman, the footprint was motor roads. the pilgrims and tourists rush to the eastern side planted upon the summit of Adam’a Peak. of summit. The sun almost leaps over the Access to the mountain is possible by 6 trails: horizon; it is not a gradual rise. Having seen it, A record of Buddha’s visits to Sri Lanka is not Hatton-Nallathanni; Ratnapura-Palabaddala; all move to the western side of the summit. confined to the Theravada tradition or to the Kuruwita-Erathna; Murraywatte; Mookuwatte; Therein is a perfect triangle of a shadow of the ancient chronicles of Sri Lanka. The Lankavatara Malimboda. The most popular routes out of mountain spreading over the landscape. In the Sutra, the seminal text of the Ch'an and Zen these are the Hatton-Nallathanni & Ratnapura- event of mist the shadow appears upright. As schools of Buddhism, which was believed to had Palabaddala. The less popular route: Kuruwita- the sun keeps on rising, the shadow shifts been preached by the Buddha, refers to a visit of Erathna The least used routes: Murraywatte, towards the base of the mountain to disappear. Buddha to Sri Lanka. Mookuwatte & Malimboda. These routes jo in Palabaddala road midway through the ascent. The Sacred Footprint of Adam’s Peak Sri The Chrakasamvara Tantra of Mahayana Lanka Buddhism reveals of Buddha leaving the The favorite ascent and descent impression of his foot on a mountain. However On the summit of Adam’s Peak is located a the failure to record the name of the mountain In the ancient times the only way to approach shrine, a belfry and a resting place. The center of has resulted in a mistaken identity by a Tibetan Sri Pada was from the city of Ratnapura. the attraction is a stone tablet covering the scholar a leading to Mount Kailash in the Following the construction of highland roads in sacred foot print of Buddha. The pilgrimage western Himalayas. the 19th century by the British colonial rulers of done solely for the purpose of paying homage Sri Lanka, the city of Hatton on the Colombo- to the sacred foot print called Sri Pada (Sinhala: Beliefs by the Christians, Hindus and Muslims Kandy-Nuwara Eliya became the most popular Resplendent feet). concerning footprint upon the summit of starting point Those with a bit of adventure, Adam’s Peak Sri Pada Tamil Hindus consider it prefer the ascent by the Hatton path and the Nearly as much has been written about the as the footprint of Lord Shiva. It is also fabled descent by the Ratnapura path. sacred footprint as has been about the mountain that the mountain is the legendary mount itself. According to Giovani de Marigolli, "The Trikuta the capital of Ravana during the The Ascent to the Peak size, I mean the length thereof, is two and a half Ramayana times from where he ruled Lanka. of our palms, about half a Prague ell. And I was Once you reach a final node (Nallanthanni or not the only one to measure it, for so did Muslims and Christians in Sri Lanka ascribe it to Palabaddala or Erathna) begins the difficult another pilgrim, a Saracen from Spain". where Adam, the first Ancestor, set foot as he journey through the forest on foot. Most of the was exiled from the Garden of Eden. The legends pilgrims use Hatton route as the journey on foot Robert Knox, an Englishman who lived in Sri of Adam are connected to the idea that Sri can be reduced by more than five kilometers Lanka in the 17th century, wrote that it was Lanka was the original Eden. even though the slope of this route is much "about two feet long". Captain John Ribeyro in greater than other routes. his account of Sri Lanka presented to the king of The Mount of many names Portugal in 1687 claimed that the footprint The season and Timing "could not be more perfect had it been done in The most ancient name, the name prior to the wax”. arrival of Buddhism in Sri Lanka, of Adam’s Peak The pilgrims season to Sri Pada traditionally is Samantakuta (Peak of Saman) that refers to starts on the full moon of December and ends In 1859 James Emerson Tennent, the colonial the mountain as the adobe of god Maha Suman on the full moon of April. During the first half of secretary of Ceylon during the period of 1845 Saman. Sri Pada (Sanskrit: sacred foot) has been the season the night ascent isn’t crowded. to1850, described the footprint as "a natural name in which mountain has etched into the However during the second half of the season, hollow artificially enlarged, exhibiting the rude memory of the Sinhalese Buddhists of Sri Lanka. the ascent gets crowded more and more on outline of a foot about five foot long”. These are Gems found in the mountain had given birth to each passing day. fine examples of how the perceptions of the the name of Ratnagiri (Sinhala: jeweled hill) sacred footprint vary according to the Night ascent in the season expectations of the visitors. The long flights of samanala (Sinhala: butterflies) that frequent the mountain during their annual The greater part of the track leading from the The Ancient Chains migrations to the region has resulted in naming base to the summit consists of thousands of the mountain Samanala Kanda (Sinhala: the hill steps built in cement or rough stones. The track The steep descent along the Ratnapura track is of the butterflies). being illuminated with electric power lines, the supported by the large chains riveted into the Adam’s Peak is the name given to the mountain night ascent is safe even when accompanied sheer rock face of the Adam’s Peak Sri Pada. by the British Colonialists (1815-1948) in Sri with kids. The track having night rest stops and The Muslims believed the iron chains were fixed Lanka, then called Ceylon. Mandira Bungalows introduces the unique concept of Boutique Bungalows

Recognising tourism as the thrust sector for the Sri Lankan Economy since the cessation of the 30 year civil war, the parent Group Sunshine Holdings, intends to capitalise on its current positive experience in the tourism industry by taking steps to penetrate into new avenues in the travel business. Hence, the company is expanding their horizons in the hospitality industry by establishing ‘boutique bungalows’ across the country – this is in addition to the two plantation bungalows of Sunshine Travels which now come under the Mandira brand - newly refurbished and re-launched as Mandira Strathdon Bungalow and Mandira Dickoya Bungalow. Promoted as boutique bungalows they are aimed at offering a novel experience. Making a refreshing change from the over popular beach destinations, the misty mountains and the cool climate of Sri Lanka’s ‘up country’ holds much potential for the leisure sector, with new opportunities and options to take advantage of – precisely what Sunshine Travels have taken the lead in doing, by starting out with the launch of Mandira Bungalows. Now owned and managed by Watawala Plantations – a leader in the plantations sector, Strathdon and Dickoya bungalows were built in the early 1900’s in the style of that era to provide a comfortable and somewhat familiar home from home to ‘planters’ who presided over the estates. Their colonial ambience is lovingly preserved today in the elegant decor; the simple luxury and the warmth of service that makes these two boutique bungalows so unique.

The bungalows are cosy havens where guests can step back in time and wake up to the charms of 19th century decor. Old prints of colonial heyday adorn the walls. Heavy drapes, feather soft pillows, linen and lace and thick pile carpets – with such comfort embracing one from all around, the temptation to snuggle up in an armchair all day and lazily admire the view of lush estates outside the window, is one that is easy to give into. Colonial comforts aside, every modern facility and convenience - from hot showers to cable TV is also there to keep visitors firmly in the indulgences of the 21st century. The gardens surrounding the bungalows are extensive with beautiful mountain vistas and the rolling slopes of the tea estates around. The cuisine at Mandira offers the best of both worlds with an extensive menu offering a choice of Western and Eastern dishes carefully prepared to suit the most discerning tastes. And if guests have particular dietary requirements, that can be catered to as well.

With the ‘Hill Country’ of Sri Lanka being as rich as the tea it produces, guests have diverse distractions to enjoy too. A wealth of cultural traditions, unspoilt wilderness and varying landscapes are all there to be experienced first hand and for those who refuse to sit still, there is much to explore. The Lonarch dairy farm hides high up in the mist. A quick course on tea can be taken with a factory visit to Kenilworth Estate. The oldest Golf course in Asia is nearby at Nuwara Eliya with enough spectacular waterfalls to admire along the way. The Zesta Tea Cup provides a stopover for a refreshing cuppa and to pick some brew to take home. Rare herbs and spices grown at the Carolina Spice Garden en route also make an interesting diversion. With both the initial Mandira properties now in full operation and being much in demand, the future prospects certainly look bright for this unique brand of boutique bungalows. They also plan to partner with other bungalow operators across the country to provide their clientele a more exclusive, personalized vacation at these boutique bungalows.

With the ‘season’ having been in full force and 2011 being just around the corner, Sunshine Travels are actively pursuing opportunities for growth and increase in market share with the launch of the Mandira boutique bungalows. With exciting plans for further developments and additional properties to be unveiled in the near future, their new website www.mandirabungalows.com will also be launched for the boutique bungalows giving them global exposure and opportunities for further progress in the leisure sector.

Ranna 212 - Between The Deep Blue Sea And The Wilderness

The deep South beaches of Sri Lanka are always deep blue and magnificently attractive, but Kahandamodara, off four km from Ranna stands out from the rest. The unspoilt beach stretch of Kahandamodara is the cradle for the l a t e s t hideaway ‘Ranna 212'. 212 kms is the exact distance from Colombo to Kahandamodara turn off from Ranna, a small town about 12km to Deep South from Tangalle. Located close to Kalametiya Bird Sanctuary and Lunama lagoon amongst the fishing community, ‘Ranna 212' is a trendy four star resort set between pristine blue waves and lush tropical wilderness of a 11.5 acres. Barely five months old, Ranna 212 has achieved record heights proving brilliant performances and maintained a high occupancy rate during its short span of operations. The Resort is a popular destination among the Sri Lankan family travellers during the April season, where it reaches around 85% occupancy rate during that time.

‘Since we came into operation from 30th December last year, we have managed to keep a high occupancy rate with many foreign tourists especially from Russia and the CIS countries. The reason, I strongly believe is the exotic location and the mesmerizing seashore' said Reyhan Morris, the General Manager of the property. This fifty five room luxury Resort is located on a magnificent wide beach frontage of Kahandamodara, offering number of water sports activities to its guests. The fifty five suites at Ranna 212 offer a 42 inch LED TV and DVD player, dual balconies, pillow menu, mini bar, wifi facilities, king sized bed and other common amenities. ‘We just want to offer our guests the best of luxury and I think travellers are looking for something luxury in this part of the country' said GM Morris. The lack of luxury resorts beyond Galle really makes the vacuum for star class resort in Deep South.

‘Ranna 212 is there to fulfill the needs of the travellers looking for luxury comfort. Now the resort is gradually penetrating British, French and German markets too. But Sri Lankan market, we believe always there on a big way during holiday seasons in May and June' said Reyhan. Apart from the luxury facilities, Ranna 212 is a popular place for culinary excursions. It has two restaurants- ‘Senses' and ‘Flame'. ‘Our specialty is seafood. Authentic South Sri Lankan cuisine too is popular among Sri Lankan clientele. Our Chefs are well versatile with authentic food and can offer anything the guest wants' said Pushpitha Udawatta , the Operations Manager of the Resort. ‘Senses' offer all day dining of off the buffet or a la carte menu including Italian crespelle al salmone, indian tandoori chicken and the delightful Ranna Seafood Symphony.

‘Flame' located on the sand close to beach is a popular place for BBQ. Fresh lobster jumbo prawns and the finest fish on the south coast are delicately marinated to bring out the best flavours to Ranna guests. Tonic and Wave are two bars. Tonic offers mixology menu including delicious concoctions using local ingredients, while Wave is located on the beach.

The Resort is centrally located, where adventure travellers can do their excursions much easily. Enjoy an excursion by bike (30 minutes) to the Kalametiya bird sanctuary or drive to the magnificent ancient monastery of Mulkirigala from the Resort from half hours’ drive. Ussangoda , Rekawa Turtle Conservation Project, Yala Wildlife Sanctuary, Kataragama are in one to two hours’ drive from the Resort. Whale watching sites off Mirissa, Walave River Safari, Uda Walave Natonal Park and Sinharaja Forest are just half a day excursions from Ranna 212. ‘We offer these excursions on request and always encourage Sri Lankans to visit these adventure and historic sites in and around the Southern Province' said Pushpitha. The room rate for Ranna 212 is range from Rs 22,000/- on FB per double. The Resort will be adding new 70 rooms including 25 water villas and 45 luxury rooms with 7.5 million US $ investment will be opened in February 2013. The new wing will consist of a new pool and two restaurants. The opening of the Ruhunu Magampura International Port and the scheduled opening of the Mattala International Airport adds to the potential of Ranna212.

Top 10 Most Expensive Weddings

For these folks, if their wedding day(s) weren’t the happiest 5. Wayne Rooney & Coleen McLoughlin - $15 Mn. days of their lives, then something is seriously wrong. If you Okay if that previous wedding bill wasn’t enough thought your wedding was astronomical, try these top ten of to impress you, try doubling that with a few little the most extravagant weddings to date ranging from $2 extras and you’ve got the wedding of Wayne million to $78 million dollars where broadcasting your Rooney and Coleen McLaughlin at $15 million. wedding vows to the world is as important as showing the Colleen McLoughlin, a television presenter/product lining of your wallet. endorser plus a Manchester United/England football star resulted not only in an expensive 10. Tom Cruise & Katie Homes - $2 Mn wedding but an interesting one at that. The 4 day They’re still together, almost 6 years later, wedding ceremony took place in Villa Durazzo in Portofino Italy on Tom Cruise and Katie Holmes and they June 12, 2008. With stunning views of the Italian Rivera on a yacht come in at number 10 on the top ten list with 64 guests flown in on five different private jets, the ambiance of grandest weddings of all time. After was beautiful. After spending almost $4 million dollars on a dress Tom proposed to Katie on the top of the designed by Georgia Chapman’s Marchesa label, guests had to Eiffel Tower, 19 months before the wonder if the budget had run out after being served pizza for the wedding date, they were married in Italy at reception. In the end, they were able to cut costs of $5 million by the 15th century castle, Odescalchi Castle allowing Britain ’s OK! Magazine to publish exclusive information and in Rome on November 18th, 2006. Giorgio Armani designed all pictures about the event, that is, after the pizza was served. the apparel for the bridal party and Andrea Boccelli gave a musical performance. The wedding was attended by 150 guests. 4. Vikram Chatwal & Priy a Sachdey $20 Mn. The couple honeymooned in Maldives following the elaborate Let’s make it an even 20 after 15, that is, $20 wedding event. mil, and then everything will be up to par for the wedding of Vikram Chatwal, son of a New York 9. Paul McCartney & Heather Mills - $3 Mn. hotel magnet and a jet-setting hotelier and actor Fireworks, grand feasting and dancers and for his model/actress/investment banker dressed in Indian costume performed for bride, Priya Sachdey (who ever said a man Paul McCartney and Heather Mill’s wedding couldn’t have it all). The wedding took place on th in 2001. The $3 million dollar wedding February 18 , 2006 and is known as one of the ceremony took place in County, Monaghan , most luxurious weddings ever in all of India . Bill Clinton was on the Ireland . The ceremony was held in St. guest list along with many other well-known, high-powered people. Salvador’s Church and the reception took The wedding took place over 10 days and was spread across 3 cities place at Castle Leslie with 300 guests. in India (Mumbai, Udaipur , and Delhi ). There were 600 guests from Heather Mills wore a dress she herself fashioned and carried 26 countries who were all retrieved for the event on chartered jets. roses named after her husband. Following their affair they honeymooned at a private island in Seychelles . They spent their 3. Miss Yugoslavia Aleksandra Kokotovic and first evening on a $20 million yacht for $19,000 a night. AndreyMelnichenko - $30 Mn. Topping a $20 million dollar wedding 8. Liza Minnelli & David Gest - $3.5 Mn isn’t easy but for Miss Yugoslavia Held at the Manhattan’s Aleksandra Kokotovic and Andrey Collegiate Church in 2002, with a Melnichenko, it wasn’t hard with a $30 sum total of 850 wedding million dollar extravaganza that made g u e s t s , including music icon history in world famous weddings. Michael Jackson and Elizabeth Andrey Melnichenko, the Russian T a y l o r , the wedding was a billionaire and founder of MDM Bank monumental event with guests and the Serbian model, Miss Yugoslavia Aleksandra Kokotovic married including Natalie Cole singing in Cote D’ Azur, France on September 3rd, 2005. There were “Unforgettable”, a 60 -piece performances by Christina Aguilera and Whitney Houston for a full orchestra also kept the guests house of guests of the rich and famous. The singers alone cost $3.6 entertained along with Tony million each to perform. Bennett. The wedding included a $40,000 6-foot, 12-tier cake, a staff of 500 and a bill of over $700,000 in flowers. 2. Sheikh Mohammed bin Rashid Al Maktoum and Princess Salama - $44.5 Mn. 7. Elizabeth Hurley & ArunNayar - $7 Mn. The Arabs really know how to have a Wed on June 29, 2006, Elizabeth Hurley and wedding party and especially the ruler ArunNayar, an Indian businessman married in a of Dubai who married Princess Salama in 15th century castle in Sudeley Castle in 1981. The wedding earned a place in Gloucestershire in Britain . The festivities lasted the Forbes list of “Billionaire Weddings”. for 8 days across the 2 continents of Europe A stadium was built just for the and A sia . The proceedings began at Sudeley occasion to entertain 20,000 guests for and then the wedding party traveled to 7 days of luxury. UmaidBhawan Palace in Jodhpur, India. T h e palace suite cost $10,000 a night. And in top place at No.1 ………… 6. DelphineArnault & Alessandro VallarinoGancia $7 Mn. Vanisha Mittal & Amit Bhatia $78 Mn. The Indians, however, out- shone the Arabs on November 18th, 2004 when Vanisha Mittal &Amit Bhatia wed in what is recorded as the most expensive wedding in history. 1,000 guests from around the world attended after each had received a 20-page silver card to the event which included all the lavish details the entire venue that lasted for 5 days. T h e p a r t y took place at the finest chateau and garden in France , the 17th Who said a bride isn’t worth it, especially when she’s the century, Vaux le Vicomte. The bride, Vanisha Mittal, daughter to the daughter of the wealthy French businessman, Bernard Arnault? A steel tycoon Lakshmi Mittal and Amit Bhatia, the investment banker father coined the ‘pope of fashion’ in France too means of wed in sheer riches. A performance by Kylie Minogue the pop singer course, a fancy dress, in fact, one so fancy that it was fashioned was the high -lighted attraction to the event. 100 different dishes were by the famous designer, John Galliano. It certainly was a price prepared by a top Calcutta Chef and the wine cost $1.5 million. The you’d not find on the racks at David’s Bridal either. Add to a costs of everything else we’ll leave to your imagination! wealthy bride a wealthy groom with a family with a wine dynasty business and you’ve got a splendid party, with of course, plenty Weddings are a happy time for all, especially for the guests who were of fine wines. The couple wed in 2005 at the Cote d’ Azur in able to attend the top ten most expensive weddings in history. Of France . The venue was decorated with 5,000 white roses. these wedding events, the real two questions are who is still together Harper’s Bazaar called it the “Wedding of the Year”. and who will be next to top the list? Life can begin at 60 - it’s all in your hands!

Many people feel unhappy, health-wise and security-wise, after 60 years of age!. Life can really begin at 60, it is all in your hands!...... by An Unknown Author

Many people feel unhappy, health-wise and security-wise, after 60 years of age, owing to the diminishing importance given to them and their opinions. But, it need not be so, if only we understand the basic principles of life and follow them scrupulously. Here are ten mantras to age gracefully and make life after retirement pleasant.

1. ‘Never say I am aged': There are three ages, chronological, biological, and psychological. The first is calculated based on our date of birth; the second is determined by the health conditions; the third is how old we feel we are. While we don't have control over the first, we can take care of our health with good diet, exercise and a cheerful attitude. A positive attitude and optimistic thinking can reverse the third age.

2. *Health is wealth:* If you really love your kith and kin, taking care of your health should be your priority. Thus, you will not be a burden to them. Have an annual health check-up and take the prescribed medicines regularly. Do take health insurance coverage.

3.* Money is important:* Money is essential for meeting the basic necessities of life, keeping good health and earning family respect and security. Don't spend beyond your means even for your children. You have lived for them all through and it is time you enjoyed a harmonious life with your spouse. If your children are grateful and they take care of you, you are blessed. But, never take it for granted.

4. *Relaxation and recreation*: The most relaxing and recreating forces are a healthy religious attitude, good sleep, music and laughter. Have faith in God, learn to sleep well, love good music and see the funny side of life.

5. *Time is precious:* It is almost like holding a horses' reins. When they are in your hands, you can control them. Imagine that every day you are born again. Yesterday is a cancelled cheque. Tomorrow is a promissory note. Today is ready cash - use it profitably. Live this moment; live it fully, now, in the present time.

6. *Change is the only permanent thing:* We should accept change - it is inevitable. The only way to make sense out of change is to join in the dance. Change has brought about many pleasant things. We should be happy that our children are blessed.

7. *Enlightened selfishness:** *All of us are basically selfish. Whatever we do, we expect something in return. We should definitely be grateful to those who stood by us. But, our focus should be on the internal satisfaction and the happiness we derive by doing good for others, without expecting anything in return. Perform a random act of kindness daily.

8. *Forget and forgive:* Don't be bothered too much about others' mistakes. We are not spiritual enough to show our other cheek when we are slapped in one. But for the sake of our own health and happiness, let us forgive and forget them. Otherwise, we will be only increasing our blood pressure.

9. *Everything has a purpose:* Take life as it comes. Accept yourself as you are and also accept others for what they are. Everybody is unique and is right in his own way.

10.* Overcome the fear of death: *We all know that one day we have to leave this world. Still we are afraid of death. We think that our spouse and children will be unable to withstand our loss. But the truth is no one is going to die for you; they may be depressed for some time. Time heals everything and they will go on.

No Marriage, but blissfully happy: Singer Enrique Iglesias and Anna Kournikova

After dating for 11 years, the sexy singer reveals why he's not in any hurry to tie the knot. Enrique Iglesias and Tennis Star Anna Kournikova have been dating for nearly 11 years, but the celebrity duo has no plans to marry anytime soon. In the new issue of Parade magazine, the singer, 36, reveals why there are no wedding bells ringing for him and the tennis champ. "I've never really thought marriage would make a difference," he says. "Maybe it's because I come from divorced parents, but I don't think you love someone more because of a piece of paper." That doesn't mean Iglesias isn't blissfully settled down with Kournikova, 30. He even sees children in their future. "Nowadays, it's not taboo to have kids and not be married," he explains. "What makes a difference is that you're a good parent, period." Iglesias also explains why he referred to her as "my wife" at a concert in Russia last year, causing fans to speculate whether the two were secretly married. "It was just meant to be sweet in the moment," he says. "I thought it'd be easier for the audience to understand than if I said 'my girl.'"

But Iglesias isn't the only one happy to be un-married in love."It isn't important to me," Kourniva told Women's Health in 2011 about marriage. "I'm in a happy relationship -- that's all that matters." Despite having left the world of tennis in 2003, Anna Kournikova has continued to be the center of media attention nearly a decade after her retirement from sports. Carbohydrate Confusion Writer Dr Harold Gunatillake FRCS Health writer to e magazines, expatriate tabloids, Sri Lankan newspapers and websites

We were told cut down foods prepared with rice and wheat flour, such items like rice, pasta and bread, indi- appams, hoppers pittus and so many other traditional starchy delicacies. Carbohydrates as such have copped some bad publicity in recent years and most health conscious people reduced their intake. Then, most people wanting to reduce their weights moved to Robert Atkins weight losing diet cutting daily quantity of carbohydrates to 40grams. This latter diet went out of fashion, following the sudden death of the author.

We need carbs for our daily energy and that energy is pumped up by having a decent carbohydrate breakfast, such as eating cereals, and Sri Lankans mostly the affluent class enjoy hoppers, string-hoppers prepared by their servants, a very privileged situation, whilst the poorer people eat a few slices of bread with a curry, like made out of lentils. Even, bread has gone up in price from rupees 50 to 56 per loaf, the ordinary ‘kadei paan’, and has become a big problem to the battlers, having large families.

Today, carbs are described as good carbs, and not so good carbs. The good carbs have low glycemic index (GI) with high fiber content. Apart from fiber which isn’t digested, most carbs are broken down in our bodies to glucose, an essential fuel. The important factor as far as the carbs are concerned is the rate of breakdown and the effect this has on sugar levels in our blood.

The message today is eat low glycemic foods, such as vegetables, nuts, pulses with less quantities of rice, bread, and other foodstuffs made with rice and wheat flour. Noodles and pasta having a GI of below 60 are recommended starches. Doongara and basmati rice, being long grain, having high levels of amylose takes a longer time to digest and absorb, also have a GI, less than 60.

The high GI foods when mixed with low GI foods strike a fairly healthy balance. For instance, a few table spoonful of rice served on the side of the plate, with plenty of vegetables, pulses like lentils, leafy preparations like the mallums strike a good low GI. In such a situation the rice after being converted to glucose in the bowels seem to get absorbed slowly being mixed with other ingredient curries. Spiking of glucose in the blood is minimized, appropriate for diabetes.

Similarly supplementing with protein and oily (fatty) foods too, reduces the absorption rate. Chicken, fish, eggs are suitable accomplishments to reduce the glycemic load. Fried rice, biryani is other ways to cook rice for reduced absorption from the bowels, though not recommended frequently.

Eating eggs daily with rice and curry also reduce the rate of assimilation and delays hunger pains, suitable when dieting. Further, eating eggs do not have any influence on blood cholesterol levels, and not necessary to take added supplementary vitamins.

So mixing low GI foods is stressed when eating less healthy high GI foods. They stabile glucose levels, help manage energy levels and appetite, and protect you against diabetes and heart disease

Whole-meal vs. Polished and processed foods The kernels of grains (such as wheat, barley, oat, rye, corn, rice) consist of 3 major parts: Bran- this is the outer layer of the grain (14-16% of wheat, 5-6% of corn) Endosperm - this is the main part of the grain Germ - this is the smallest part of the grain.

Wholegrain contain all three layers of the grain.

Unpolished red rice may have a similar GI like the polished white rice, but the added nutrients including fiber assists in delayed absorption and less spiking of glucose levels. Same principle applies to other whole meal foods like breads. For breakfast cereals, the less processed the better with porridge and mueslis the winners.

The US Food & Drug Administration permits food manufacturers to make a health claim on whole grain food products, as possibly reducing the risk of coronary heart disease and some cancers as long as the product contains 51% or more wholegrain ingredients by weight per reference amount, with dietary fiber 2.3g per 50g or 1.7g per 35g and the food must be low in fat.

Ice-creams Most ice-creams are low GI, but that doesn’t mean you should be pigging out on them to increase your glycemic load (GL).

Wholegrain cereals Cereals form a good healthy excellent source of carb, especially the whole meal cereals. They are low in saturated fat, but are a source of polyunsaturated fats, including omega 3 linolenic acid. It is cholesterol free and high in fiber. Cereals are an excellent source of proteins, vitamins, including folate.

Refined Cereals Most breakfast cereals are refined with added sugar. Such refining can cause 66% loss of fiber, 92% loss of selenium, and 62% of folate and up to 99.8% of phytochemicals from the grain. In most packetted cereals some fiber, vitamins and minerals have been added to compensate for the losses due to refining.

Wholegrain Cereals source of protective chemicals Whole grain cereals have many antioxidants and phytochemicals, including phytoestrogens giving many health benefits. These phytochemicals are: • Lignans - a phytoestrogen that can lower the risk of coronary heart disease and may protect against hormonally-linked diseases such as breast and prostate cancer. They are mostly found in outer layers (such as wheat bran) and are high in flaxseed (linseed). • Phytic acid - reduces the glycaemic index of food, which is important for people with diabetes, and helps protect against the development of cancer cells in the colon. It was previously thought to be a disadvantage because it binds iron and zinc and makes it unavailable for absorption. It is now known to act as an important antioxidant which protects the bowel wall from damaging chemical reactions involving iron. • Saponins, phytosterols, squalene, oryzanol and tocotrienols - have been found to lower blood cholesterol. • Phenolic compounds - have antioxidant effects.

So after all healthy carbs with low GI mixed with not so healthy carbs with high GI is the way to go.

COLOMBO CHETTIES OF SRI LANKA

The arrival of the Colombo Chetty community from Nagapatnam, India is well documented from 1663 during the reign of King Rajasingha 11 of Kandy, and the governorship of the Dutch Ryckloff Van Goens. With the arrival of the westerners in search of riches to the east, the Chetties of India used the opportunity to further their trade. Chetty merchants were visiting Ceylon in their own sailing vessels carrying diamonds from Golconda, emeralds from Rajasthan, rubies from Burma and so on from various states of India from pre-Buddhist times. Their arrival here is documented in our history during the time of King Rajasinghe II and the governorship of the Dutch. Once they settled in Ceylon, these traders and money-lenders dropped out of the money-lending livelihood as it was considered disgusting and switched to the learned professions where they rose to great heights of fame. Colombo Chetty are mostly Roman Catholics or Anglicans and are found in almost all niches of Sri Lankan society. Members trace their origins to traders of various ethnicities from South Ind i a . M o s t traders were T a m i l speakers with a smattering of Malayalee or T e l u g u speakers. Although Indian traders have been visiting and settling down in Sri Lanka for more than 2,500 years, Colombo Chetties are descendants of traders who had come to Sri Lanka during the P o r t u g u e s e colonial era since 1505 CE. These traders converted to Catholicism, the religion of the Portuguese, and married women of various backgrounds including their own from India, Sri Lankan Tamil, Sinhalese, Portuguese C reo le s and later D u t c h , English and Eurasian Burghers.

The ethnic distinction between Burghers and Colombo Chetties is somewhat blurred. Famous Sri Lankan such as the Ondaatjes trace their family to a Hindu South Indian native doctor and married freely amongst Colombo Chetties though he has Burgher ethnic admixture. (See Michael Ondaatje.) But until about 75 years ago most were educated in the Tamil language and were considered to be a caste of T a m i l people. However, Colombo Chetty families married into both elite Sinha le se and Sri Lankan Tamil families. Most early Sri Lankan Tamil pioneers in the colonial civil service, doctors, educators and religious leaders were in fact of Colombo Chetty origins. The author of the definitive modern history of the Tamil Jaffna Kingdom was a Colombo Chetty. But in modern times they speak English, rather than Tamil, at home and are considered to be neither Sinhalese nor Tamil in the official census. As an elite and prosperous group they no longer strictly marry amongst themselves. In addition, migration to A u s t r a l i a , England and Canada has tended to dilute their numbers.

Reggie Candappa Mervyn Casiechetty Rumani Devi Sir Christopher Ondaatje

Some common Colombo Chetty last names are Alles, Anandappa, Aserappa, Casiechetty, Candappa, C hit t y, Fernandopulle, Gardiner, Ondaatje, Pe r u m a l , Rodrigopulle, and Wanniappa. It should be noted that Pulle is a Sinhalese version of the common T a m i l and Malayali t it le Pillai. Ca siechetty is a clan name amongst T e l u g u or Tamil speaking K o m a t i Setties of Andhra Pradesh o r ig in in Tamil Nadu, south India. To pick a few notables at random from the long and impressive list compiled here, there was Dr. Michael Ondaatje (not to be confused with today's famous author of that name who must be one of his descendants). This eminent physician came to Sri Lanka in June 1659 on the recommendation of the Maharajah of Tanjore to attend on the wife of the Dutch Governor Van de Mayden who was stricken with a rare disease that had baffled both Dutch doctors and native ayurvedic physicians. She responded to his treatment and the grateful Governor not only rewarded him with money and jewels, but appointed Dr. Michael Juri Ondaatje the first Doctor of Colombo, the first Colombo Chetty to hold this post. He died in Colombo in 1714.

In a community well-known for its Christian (particularly Roman Catholic) links, and for the many priests and nuns it produced, it may be news to some, as it was to me, to learn that the Ven. Soma Thero of Vajirarama Temple, Bambalapitiya, and founder of the German Dharmaduta Society was born Victor Pulle, the son of Colombo Chetty parents. Many illustrious names are mentioned , among them: E.C. Alles, the first Colombo Chetty to obtain the F.R.C.S (England), and one-time President of the Ceylon Medical Association; George Chitty, Q.C., Justice M.F.S. Pulle, Justice Christie Alles, George Candappa, P.C., Chevalier L.A. Perumal, Sir Christopher Ondaatje, CEB, financier & philanthropist, who has written the foreword to this book; Mano Muthukrishna-Candappa, Managing Director of the Polytechnic and much else besides Abraham Peter Casie Chitty, an outstanding businesman of the early 20th century. This should suffice to show how m e m b e r s of the Chetty community have made their own unique contribution as citizens of Sri Lanka. Other Colombo Chetties who made a significant contribution to Ceylon (later known as Sri Lanka) are poet and lawyer Mervyn Casie Chetty; popular singer and “Nightingale of Sri Lanka” - Rumani Devi (her maiden name was ‘Daniels’).

The late President J.R. Jayawardene's first paternal ancestor was a Colombo Chetty and there is an excerpt from the biography of J.R. authored by Prof. K.M. De Silva & Howard Wriggins, in support of this. Don Adrian Jayawardene, J.R.'s paternal great-grandfather, descended from a Chetty family, but two or three generations earlier, a male of this family had married a Sinhalese by the name of Jayawardene from the village of Walgama near Hanwella and had taken on the name of Jayewardene and by the time Don Adrian arrived on the scene at the tail-end of the 18th century, "the process of 'Sinhalisation' of his family had been completed."

TORONTO SKYLINE

Minister Fast Promotes Most Ambitious Pro-Trade Plan in Canada’s History in Latin America and at G-20 Trade Ministers’ Meeting

Protectionism is poisonous to global recovery efforts and to jobs, growth and long-term prosperity, Minister says

April 20, 2012 - The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today wrapped up a four-country visit to the Americas by highlighting, to participants at the first G-20 trade ministers’ meeting in Mexico, Canada’s pro-trade plan for jobs, growth and long-term prosperity and Canada’s value as a trading partner.

“Trade is the new stimulus,” said Minister Fast. “Canada sees this G-20 trade ministers’ meeting as a clear recognition by Mexico and other nations that free and open trade is the best way to create jobs, growth and long-term prosperity for people around the world. With more than 60 percent of our economy and the jobs of one in five Canadians generated by trade, our government understands the importance of trade to Canada’s economy. That’s why we are currently undertaking the most ambitious trade expansion plan in our country’s history.”

In Chile, in the presence of Prime Minister Stephen Harper and Chilean president Sebastián Piñera, Minister Fast signed an agreement to modernize the Canada-Chile Free Trade Agreement. He also noted that since the original Canada-Chile Free Trade Agreement was implemented, bilateral trade has more than tripled and investment has quadrupled.

In Colombia and Peru, Minister Fast highlighted how recently implemented free trade agreements between Canada and the two countries— Colombia’s in 2011, Peru’s in 2009—have shown clearly how deeper trade benefits workers, businesses and families.

“Preferred access to fast-growing markets around the world like those found in Latin America gives Canadian businesses and workers a competitive edge,” said Minister Fast. “When tariff and non-tariff barriers are lowered or eliminated outright, and greater access to procurement contracts and other prosperity-creating opportunities are granted, businesses are given the stable and predictable environment they need to grow their operations. And we know that businesses that expand and succeed abroad create jobs, growth and long-term prosperity at home. And in the case of the Americas, job and prosperity creation go hand in hand with positive change and growth.”

Minister Fast also welcomed the momentum that is building in support of Canada’s participation in the Trans-Pacific Partnership (TPP) negotiations, with both Chile and Peru signalling support for Canada’s inclusion.

“Simply put, Canada’s inclusion in the TPP negotiations at the earliest opportunity will help ensure any eventual agreement is ambitious, and will spread the benefits of increased trade and closer economic cooperation throughout the Asia-Pacific region,” concluded Minister Fast.

Seven of Canada’s 10 free trade agreements are with countries in Latin America or the Caribbean. In less than six years, the Harper government has concluded trade agreements with Colombia and Peru, and an agreement with Panama is awaiting ratification. Canada has also concluded free trade negotiations with Honduras. In addition, Canada has nine foreign-investment promotion agreements and 31 air- transport agreements with countries in the Americas, as well as two science and technology agreements.

TradeWinds e-Magazine is published by The Times of Sri Lanka monthly in Toronto, Canada – April 2012 Edition – 20 pages