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| Tuesday, 17 August 2004 |
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Business in brief Boon for rubber workers through PSS mechanism Workers in Sri Lanka's rubber sector are tapping the benefits of the current price boom as a result of a Price Share Supplement (PSS) introduced in January this year in the wake of an agreement between unions and plantation management companies. According to the Planters' Association of Ceylon, worker wages in the rubber sector reached an all-time high of Rs 160 per worker per day excluding statutory benefits in July this year, demonstrating the benefits of the concept of "gain-sharing" through the PSS. Interbrand's Brand League Table The 100 Best Global Brands by dollar value for 2004 is just out. Interbrand, the leading global branding consultancy whose rankings have become a benchmark for brand valuation, have in this year's rankings rewarded companies that build communities around their products and services creating "cult brands" that enable customers to feel as if they own the brand. Cutting-edge technology companies did well as four of the top five biggest gainers in brand value are from the tech sector, while long-established brands such as Coca Cola, Microsoft and Ford actually lost brand value. Chairman of Smart Media, Vijith Kannangara, who introduced the concept of Brand Valuation to Sri Lanka along with Interbrand - the pioneer in 1999 says, 'Today many Sri Lankan businesses and entrepreneurs are aspiring to build global or at least regional brands. And the Annual Interbrand Brand League Table provides valuable insights to them. All-time record price for Uva BOP A new all-time record price for a Uva Broken Orange Pekoe (BOP) was established at this week's tea auctions when Uva Highlands Estate, Bandarawela sold a line of this flavoury grade of tea for Rs. 1,255 per kilogramme. This is the highest ever price for a BOP from the Uva region and the selling brokers were Eastern Brokers Limited and the buyers were James Finlay and Company Limited. Further correction at Bourse Trading at the Colombo Bourse went through further correction yesterday with indices narrowing. The market has reacted towards the micro-macro political and economic situations. The All Share Price Index dipped to 1,421.07 points from 1,441.89 on Friday. The Milanka Price Index decreased to 2,122.57 points 2,150.30 points. The turnover for the day was Rs 152,383,934. Domestic purchases were Rs,2,286 and foreign purchases Rs 93 million. The top five gainers were Asso. Hotels, Kandy Hotels, Gestetner, Miramar and Millers. |
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