An Echelon Media Company
Tuesday December 5th, 2023

Sri Lanka’s Noyon Lanka develops eco-friendly plant based dye

ECONOMYNEXT – Noyon Lanka, a unit of Sri Lanka’s MAS apparel group has developed a new plant extract-based dye that reduces water and energy use in washing plants and makes the industry more environmentally friendly, officials said.

The ‘Planetones’ branded dye is also biodegradable.

“We initiated the plant extraction process at our Noyon research and development labs in Sri Lanka,” Manjula Jayawardena, the Director General Manager of Innovation at Noyon Lanka said.

“However, when it comes to the commercial state we cannot do that in a lab and we have to go for partners with bigger capacity.”

“We bring these extracts to our facilities and the formulation is being done here.”

Planetones dye reduces water use in the washing cycle by 30 percent and energy 15 percent, the company said.

The dye has also been cleared by Control Union, a EU-based certification group.

Initially, dyeing is being promoted with lace, but Jayawardena said dye can be applied to all synthetic materials, including nylon fabrics and garments.

Jayawardena said polyester and cotton products with natural dying will be also presented to the market going forward.

Noyon’s facility in Biyagama is capable of making 500 kilograms per colour per month and expects to expand the capacity according to the demand.

The firm has started commercializing the product in French and Italian markets under Etam and Yamamay brands.

The plant extract-based dye is expected to cost around 8 percent more than synthetic dyes.

“Some of our customers have already working on taking the product to the market,” Sunesh Rodrigo, the General Manager of Sales and Marketing at Noyon Lanka said. “In the next two to three years, we will have another 3-4 brands that will be commercializing our products.”

“A leading brand in the industry is currently in discussion with us for this product. We also have regional level manufacturers who are interested in the product, such as in India and the Far East.” (Colombo/ Aug 31/2022)

Leave a Comment

Your email address will not be published. Required fields are marked *

Leave a Comment

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

Sri Lanka finding ways to clear 1.1mn pending cases: Justice Minister

ECONOMYNEXT – Sri Lanka is taking a series of steps to speed up 1.1 million pending court cases and encourage alternative dispute solving mechanisms, Justice Minister Wijedasa Rajapakshe said.

“The delay in court cases is a serious problem,” Minister Rajapakshe told a briefing at the President’s Media Centre.

“We have already taken several steps to expedite cases.”

There were 5,680 cases in Supreme Court, 4,054 in the Court of Appeal, 6,168 in the High Court of Civil Appeal, 8,363 in the Commercial High Court, 28,000 in the High Court, 254,000 in District Courts and 791,000 in Magistrates Courts.

In 2015, only 49 percent of complaints to mediation boards were resolved. Following reforms, the ratio has been increased to 70 percent.

The value of disputes going to mediation board has been raised to one million rupees from 500,000 rupees.

To solve land problems in the post-war period, special mediation boards on property was set up in the North and the East.

Mediation boards on property will be set up in another 16 districts.

Commercial High Courts were increased to four from three.

Another Commercial High Court will be set up in the future. The consideration of cases that can go to a High Court was raised from 4 million rupees to 10 million rupees.

A commercial dispute resolution law will be introduced next January.

A small claims court has been established.

Case involving disputes below 2 million rupees can be directed to small claims court.

Continue Reading

Sri Lanka stocks close up as some investor interest returns

ECONOMYNEXT – The Colombo Stock Exchange closed up on Monday, CSE data showed.

The All Share Price Index was up 0.22 percent, or 23.33 points, at 10,743.59.

The S&P SL20 index was up 0.68 percent, or 20.60 points, at 3,067.73.

Turnover was at 708 million. The banks sector contributed 189 million, while the food, beverage and tobacco sector contributed 176 million of this.

Sri Lanka’s stock market has seen some investor interest return after last week’s news that the country had managed an agreement on a debt restructuring deal with an official creditor committee, and foreign funds for some development projects resumed.

Top positive contributors to the ASPI in the day were Sampath Bank Plc (up at 71.50), LOLC Holdings Plc (up at 379.00), and Commercial Bank of Ceylon Plc, (up at 90.90).

There was a net foreign outflow of 52 million.

Citrus Leisure Plc, which announced that its banquet hall and revolving restaurant at the Lotus Tower would launch on or around Dec 9, saw its share price rise to 6.20 rupees. (Colombo/Dec4/2023).

Continue Reading

Sri Lanka rupee closes broadly steady at 328.10/30 to the US dollar

ECONOMYNEXT – Sri Lanka’s rupee closed at 328.10/30 to the US dollar on Monday, from 328.00/10 on Friday, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.70/14.00 percent from 13.70/95 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.10 percent from 13.90/14.05 percent.

A bond maturing on 15.01.2027 closed at 14.00/14.10 percent from 14.05/10 percent.

A bond maturing on 01.07.2028 closed at 14.20/35 percent from 14.15/25 percent.

A bond maturing on 15.05.2030 closed at 14.25/45 percent, from 14.20/45 percent.

A bond maturing on 01.07.2032 closed at 14.05/40 percent, from 14.00/45 percent. (Colombo/Dec4/2023)

Continue Reading