Lanka needs to get wiser on FTAs

Daily News / Wednesday, 2 April 2008

Rohantha Athukorale

FTAs did not drive significant growth to India and Pakistan in 2007:

Whilst the whole of South Asia is hit by Terms of Trade shocks with a barrel of oil hitting a record 107 dollars last week, the vibrant and resilient export community in Sri Lanka continued drive growth bringing in a mammoth 7700 million dollars in 2007, and helping the country to cushion the impacts of the increasing energy bill. More>>

Income tax exemption for gem miners

Daily News / Wednesday, 2 April 2008

Income tax relief is now available to licenced gem miners in keeping with the Budget proposals relating to the Gem and Jewellery Industry which have been implemented by the National Gem and Jewellery Authority (NGJA). More>>

George Steuarts to enter China for tea

Daily Mirror / Wednesday, 2 April 2008
By Ravindu Peiris

George Steuart & Company Limited one of the oldest company involved in the tea trade announced that company entering into a joint venture with Chinese company in order to enter into huge Chinese market.“ A party in China has shown interest in our supply of tea and we are hoping to proceed into a joint venture in China. And this is a small step taken to make our company a multinational” Newly appointed Chairman George Steuarts Group Jayantha Wimalagooneratne told the Daily Financial Times. More>>

GTH buys Rs. 32 b stake in SLT

Single largest transaction in the history of the Colombo Stock Exchange:

Daily News / Wednesday, 2 April 2008

Global Telecommunications Holdings N.V. ("GTH"), a wholly-owned subsidiary of Usaha Tegas Sdn Bhd ("UT"), a Malaysia based investment holding company, acquired 635,076,318 shares representing 35.19% of Sri Lanka Telecom PLC ("SLT" or the "Company") from NTT Communications Corporation for a purchase consideration of Rs. 32 billion. More>>

The Colombo Stock Exchange

Daily News / Wednesday, 2 April 2008

The CSE is the organisation responsible for the operation of the stock market, and being Sri Lanka's only stock exchange, the CSE currently has 15 member firms, 5 trading members and one specialised debt-trading member. More>>

Farmer associations opt for organic products for export

Daily News / Tuesday, 1 April 2008

Hathoon Sheriffdeen

Sri Lankan farmers should be treated well to protect the agri-industry. This will reduce farmers leaving their traditional farming to move into other industries, a leading entrepreneur said.

"I wish officers working with farmers should include the profession of farmer on their business cards to diversify attraction towards farming to protect young farmers leaving their family jobs. More>>

George Steuarts goes global

Daily News / Tuesday, 1 April 2008

Shirajiv Sirimane

George Steuarts Ltd, the oldest Sri Lankan company established in 1835 is looking at opportunities in China and India, its new Chairman Jayantha Wimalagooneratne said. More>>

Strong GDP growth in 2007

Daily News / Tuesday, 1 April 2008

Nadira Gunatilleke

COLOMBO: Sri Lanka's Gross Domestic Product (GDP) growth in 2007 remained strong despite high International oil prices and an unsettled security situation. Sri Lanka's GDP is estimated to have grown by 6.7 per cent in 2007, and is likely to remain about seven per cent in 2008, the Economic and Social Survey of Asia and the Pacific 2008 said. More>>

Hameedia merges with tradition for ‘Aluth Avurudda’

Daily News / Tuesday, 1 April 2008

Sri Lanka’s leading menswear specialist Hameedia has gone into the different shades of orange for this year’s Sinhala and Tamil New Year. Inspired by the traditional “Litha” (Almanac), all of Hameedia’s 17 outlets across the country have been decorated with the colours of the New Year together while an exclusive Avurudu Collection has just been launched. More>>

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