Certain clients misused the Unlimited Liability doctrine in partnerships, as a result many accountants were reluctant to join the industry. In Sri Lanka we still do not have a litigant society. Though we might not see a Tea Auction Index the auction itself continues to perform. The low grown category in particular is enjoying good demand and as a result is achieving record prices. The previous week's auction saw another record being broken as the low growns average, once again rewrote the record books and set an all time, any elevation high of Rs.
Brokers expect the rally to continue into the following weeks and perhaps till the end of the year.
At last week's auction too, low grown teas met with good demand and the chances are that we might see a new record. Meanwhile, most other categories of tea experienced volatile conditions and saw a few grades shed a few rupees in the process. While the U.S. and European economies continue to ride the wave of the information revolution, according to the World Resources Institute, about 4 billion people throughout the world have barely been touched by it. WRI research has discovered there are more Internet accounts in London than on the entire continent of Africa, and 80 percent of the world's population is being left out of the global communication systems that are reshaping the world. About 300 selected world leaders came to Seattle last week for three days of brainstorming on expanding the reach of the new technologies and creating new patterns of development.