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President hails strong economy and inaugurates Ratnapura gem tower

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President Ranil Wickremesinghe emphasised that the government’s prudent decisions over the past two years have bolstered the nation’s economy, providing a favourable environment for political activities on the streets.

However, he cautioned that the economy still faces challenges, urging citizens to weigh the choice of either continuing with the government’s initiatives for prosperity or risking regression. Highlighting a remarkable increase of over 50% in government income in 2023 compared to 2022, President Wickremesinghe underscored the conducive backdrop for advancing confidently with a robust economy. These remarks were made during his attendance at the inauguration of the International Gem and Jewellery Trade Centre, known as the Ratnapura Gem Tower, yesterday (4).

Plans have been shown for the construction of the Ratnapura Gem Tower in Demuwawa in Ratnapura, to be executed in two phases. The initial phase saw the completion of a five-storey building, costing Rs. 365 million. The forthcoming second phase entails the construction of an additional 14 floors, with an estimated expenditure of Rs. 450 million.

The newly inaugurated International Gem Trade Centre comprises 27 business premises, with 17 allocated to local entrepreneurs and 10 designated for foreign counterparts. Financing for this venture is sourced from the National Gems and Jewellery Authority, aiming to establish an international hub facilitating seamless transactions between sellers and buyers.

Functioning akin to renowned sales centres in Bangkok and Hong Kong, the centre will offer comprehensive services including independent quality testing, laboratory facilities, and banking and export services. This initiative aims to bolster the gem and jewellery trade, positioning Ratnapura as a pivotal player in the global market.

During his visit to the International Gems and Jewellery Trade Centre, President Ranil Wickremesinghe unveiled the plaque to mark its inauguration and inspected the facilities.

The President emphasised the government’s commitment to further enhancing the gem and jewellery industry’s contribution to the national economy. He instructed officials to compile a report by the end of April outlining potential solutions to industry challenges and proposed reliefs for industry stakeholders. The President stressed the importance of ensuring benefits for gem miners as part of this initiative.

The President highlighted the significance of the International Gem Trading Centre in elevating Sri Lanka’s gems to attain their rightful value on the international stage. This initiative aims to position Sri Lanka as a prominent player in the global gem and jewellery market, fostering economic growth and prosperity for the nation.

During his address at the event, President Ranil Wickremesinghe acknowledged the origins of the International Gems and Jewellery Centre, noting that its construction commenced during the tenure of former President Gotabaya Rajapaksa. He also paid tribute to the dedication of Ministers Lohan Ratwatte and Chamara Sampath to the project’s realisation.

Highlighting the significance of the centre, President Wickremesinghe emphasised that its impact extends beyond Ratnapura, positioning it as a pivotal hub for the gem and jewellery industry nationwide. He reiterated the government’s commitment to fostering the industry’s growth and its pivotal role in contributing to the national economy.

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

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Sri Lanka hit with 30% US tariffs

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US President Donald Trump today (July 09) announced a fresh round of tariffs targeting seven countries — Sri Lanka, Algeria, Brunei, Iraq, Libya, Moldova and the Philippines.

Trump took to his social media platform, Truth Social, to share official tariff letters sent directly to the heads of state of these nations.

These tariffs will come into effect from August 01.  This move comes just a day after Trump unveiled a sweeping round of import tariffs of up to 40% on goods from 14 nations, including key trade players such as Bangladesh, Japan, and South Korea.

Accordingly, the countries with newly announced tariffs are :
1. Sri Lanka: 30%
2. Iraq: 30%
3. Algeria: 30%
4. Libya: 30%
5. Philippines: 25%
6. Brunei: 25%
7. Moldova: 25%

The 30% tariff announced for Sri Lanka is significantly less than the 44% initially announced in March. 

Negotiation talks also took place between the US and a GoSL team in Washington.

Relationship, “far from reciprocal”

The US President’s letter to his Sri Lankan counterpart – Anura Kumara Disanayake, emphasizes the United States’ commitment to fostering a fair and reciprocal trading partnership with Sri Lanka. 

Despite a longstanding trade deficit, the U.S. has agreed to continue its economic engagement with the South Asian nation, albeit under revised terms aimed at correcting what President Trump described as “unsustainable Trade Deficits.”
“Our relationship has been, unfortunately, far from reciprocal,” the letter states.

The letter also warns that any increase in Sri Lankan tariffs on U.S. goods would result in a proportional increase in the U.S. tariff rate beyond the initial 30%.

The letter also extended an invitation to Sri Lankan companies to invest directly in the United States, noting that products manufactured domestically would be exempt from the new tariffs. He assured expedited approvals for such ventures, promising a streamlined process “in a matter of weeks.”

(Agencies)

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Clarence’s wife wins copyright case against Sarath Kothalawala

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The Supreme Court has recently delivered its judgment in favor of Sheela Wijewardene, the wife of the late veteran musician Clarence Wijewardene, against Sarath Kothalawala of Torana Music.

The appeal stems from an action filed in the Commercial High Court by Mrs. Wijewardene (Appellant) in alleging that copyright in the lyrics and musical compositions of several songs authored by the veteran musician, late Clarance Wijewardene, has been infringed by the Sarath Kothalawala and Rajiv Sebastian (Respondents) by performing the said songs and producing compact discs incorporating the said songs.

The Appellant had sought an injunction, damages, and the delivering up of infringing materials against the Respondents in the said action filed in the Commercial High Court. During the pendency of the action in the Commercial High Court, the 2nd Respondent- Rajiv Sebastian had entered into a settlement with the appellant admitting the intellectual property rights of the late Clarance Wijewardene and agreeing to pay Rs. 2,000,000.00 as damages.  At the conclusion of the trial, the Commercial High Court granted the Permanent Injunction in favour of Mrs. Clarence Wijewardene against the first Respondent Sarath Kothalawala among other reliefs sought.

An appeal was preferred to the Supreme Court in the year 2013 by Mrs. Clarence Wijewardene seeking the other reliefs. The Supreme Court has upheld the Commercial High Court’s decision of granting the Permanent Injunction against the first Respondent which is in essence;

A permanent injunction restraining the 1st defendant from directly or indirectly reproducing, carrying out any public performance or communicating to the public in any other manner songs in which the economic and moral rights in respect of the lyrics and music compositions belong to the estate of the late Mr. Clarence Wijewardena.

The court further issued a permanent injunction restraining the 1st defendant from advertising, promoting, offering for sale and the sale of Audio Compact Discs and the Audio Visual Work titled ‘Viduru Mal’, ‘Sing along with Rajiv Sebastian’, ‘Reka Heenen Piyamba’ and ‘torana Sinhala Karaoke Vol.2’; and distorting the original music compositions of those songs created by the late Mr. Clarence Wijewardena.

The Supreme Court has not granted compensation or damages against the 1st Respondent, citing agreements between the Respondents where the 2nd Defendant-Respondent had misrepresented ownership of the works and the settlement entered into between the 2nd Respondent and the Appellant. However, the Supreme Court has found that the Commercial High Court had erred in not granting the Plaintiff’s prayer for the delivering up of infringing material in the possession of the 1st Respondent and amended the Judgment of the Commercial High Court accordingly. Thus, the 1st Respondent has been ordered by the Supreme Court to deliver up to the Petitioner all the infringing material in the possession of the 1st Respondent including all copies of the Audio Compact Discs and the Audio Visual Work ‘Sing along with Rajiv Sebastian’, ‘Viduru Mal’, ‘Reka Heenen Piyamba’ and ‘Torana Sinhala Karaoke Vol 2’. This relief granted by the Supreme Court is in addition to the Permanent Injunction granted by the Commercial High Court by judgement dated 30/07/2012.

The Judgment has been delivered by a bench comprised of Justices E.A.G.R. Amarasekara, A.L. Shiran Gooneratne, and Arjuna Obeyesekere.

Dr. Harsha Cabral, PC, with Kushan Illangatillake, instructed by V.W. Kularatne Associates represented the Appellant whilst Mr. M.S.A. Wadood, with Palitha Subasinghe, Tharanga Edirisinghe, Hashane Mallawarachchi, and Dulmini Liyanage, instructed by S.B. Dissanayake Associates, represented the 1st Respondent.

(dailymirror.lk)

(This story, originally published by dailymirror.lk has not been edited by SLM staff)

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Public urged to use drinking water sparingly amid dry weather

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Due to the prevailing dry weather conditions, the National Water Supply and Drainage Board (NWSDB) has requested consumers to use drinking water sparingly and only for essential purposes.

The NWSDB states that the ongoing extreme dry weather conditions across the island is causing a rapid decline in water levels at major sources while water consumption has also increased significantly due to the heat.
It also requests the public to minimize using water for non-essential tasks like washing vehicles and gardening, and to use water only for essential daily needs.

The NWSDB also said that water pressure may be lower than usual in highland areas because of the increased demand.

The NWSDB expresses its regret over the inconvenience caused to the public and urged to direct any inquiries to the ‘1939’ hotline for further information or assistance.

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