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The purpose of the loan scheme was to encourage the local production, regional development and to boost the revenue streams of the small and medium businesses in Sri Lanka, especially with the aim of withstanding foreign competitors and to elevate import substitution strategies in order to expand the Gross Domestic Product and economic growth ...
The history of Sri Lanka is unique because its relevance and richness extend beyond the areas of South Asia, Southeast Asia and the Indian Ocean. The early human remains which were found on the island of Sri Lanka date back to about 38,000 years ago ( Balangoda Man ).
Philip Upali Wijewardene (17 February 1938 – 13 February 1983: Sinhala: උපාලි විජේවර්ධන) was a Sri Lankan business magnate and entrepreneur. In 1983, Wijewardene had a net worth of US $50 million. He was the founder and chairman of Upali Group, the first multi-national business in Sri Lanka.
Richard Piries Company is the market leader and the pioneer in the tyre Retread industry of Sri Lanka and commands a market share of nearly 60%. In addition to that, it has become the largest Retreader in the whole of South Asia which is a remarkable achievement for a Sri Lankan company.
During the same period, Gnanam realised that there was a big shortage of textiles in Sri Lanka. Therefore, he formed a joint venture with Mitsui Company and established the Ceylon Synthetic Textile Mills or Cyntex which used high-quality machineries from Switzerland and produced quality fabrics.
Through the Indian indenture system, hundreds of thousands of Tamil "coolies" from southern India were transported into Sri Lanka to work on European-owned cash crop plantations. [ 4 ] The coffee economy collapsed in the 1870s when coffee blight ravaged the plantations, but the economic system it had created survived intact into the era of its ...
The Sri Lankan Stalemate: Going Off the Screen in the Post Cold War Rajiv Gandhi's offer to send troops into Sri Lanka was deeply unpopular with the Sinhalese and, although initially popular with the Tamils, led to an outbreak of hostilities between the Tamil Tigers and the Indian Peace Keeping Force (IPKF) – Eelam War II.
The Ceylon Chamber of Commerce was established on 25 March 1839, when Sri Lanka was known as Ceylon under British rule.. Rt. Hon. James Alexander Stewart-Mackenzie, then Governor of Ceylon, was instrumental to found the Ceylon Chamber of Commerce as he was keenly interested in promoting agriculture and trade in Ceylon.