Sri Lanka is planning to build a US$ 500 million worth Coal power plant in Sampur, located in the Eastern province of the country.
The 500 Megawatt Coal power project will be a joint venture between the Ceylon Electricity Board and the National Thermal Power Corporation Limited of India.
Cabinet of Ministers have approved the move, which [...]
January 19, 2012 12:14 PM | Posted in
Economy |
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United Nations says a prolonged recession in Europe could have a significant impact on growth across South Asian economies which includes countries such as Sri Lanka, India and Pakistan etc.
The UN says, this situation could occur as European countries continue to be a key export market for the region and a main source of tourism [...]
January 19, 2012 9:59 AM | Posted in
Economic Outlook,
Economy |
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Sri Lanka is planning to construct three elevated highways linking Colombo and three other nearby locations, in a bid to cut down traffic congestion in the capital city.
Accordingly, elevated highways will be built between Colombo Fort to Kottawa, Colombo Fort to Peliyagoda and Kirulapone to Kadawatha.
The elevated highway linking Colombo Fort and Kottawa [...]
January 12, 2012 4:17 PM | Posted in
Economy |
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Sri Lanka’s tea plantations situated in and around Nuwara Eliya district have survived the ground frost and the extremely cold weather experienced in the area in the early parts of January, says a Tea Broker.
“With temperatures plummeting to well below 10 Celsius, the ground frost mainly affected the vegetable cultivation with no serious damage to [...]
January 12, 2012 3:22 PM | Posted in
Economy |
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Sri Lanka’s Central Bank has kept its key policy rates unchanged for the Month of January taking into consideration the latest developments in the economy, which the country says is expected to get a boost owing to the significant structural economic changes that have taken place over the last several years.
Central Bank of Sri Lanka [...]
January 11, 2012 9:09 AM | Posted in
Economy |
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(News360.lk) Sri Lanka has started negotiations with Global Investment Bank Goldman Sachs to obtain a US$ 1 billion loan facility to help finance the country’s state run petroleum utility CPC.
According to highly credible government sources, a delegation from the Goldman Sachs has arrived in the country during this week and held a round of discussions [...]
January 10, 2012 5:36 PM | Posted in
Economy |
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Sri Lanka has removed custom duties charged on the importation of Buses, Lorries and Trucks to the country
The move, the Ministry of Finance says, is aimed at maintaining high standard tourist and passenger services and also to help establish a efficient goods transportation system in the country.
The Government has also decided to abolish the import [...]
January 10, 2012 1:57 PM | Posted in
Economy |
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Sri Lanka’s Central Bank says, improving public confidence on the country’s non Banking financial sector has helped the sector to attract more deposits during the year 2011.
Accordingly, the sector has mustered Rs. 182 billion during the first three quarters of the year 2011, a year on year increase of 32%.
This is following a crisis situation [...]
January 9, 2012 8:30 AM | Posted in
Economy |
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Sri Lanka invites British investors to explore the opportunities the country offers in areas such as tourism, Agriculture, Infrastructure and industries.
This invitation was made by the Minister of Industry and Commerce Rishad Bathiudeen when the visiting British MP Wharton along with a delegation paid a courtesy call on the Minister, yesterday.
Here the Minister also extended [...]
January 5, 2012 2:42 PM | Posted in
Economy |
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Sri Lanka Ports Authority has received a consignment of 50 yard tractors, which it has ordered to strengthen the Colombo Ports container handling capacity.
SLPA says, the new set of yard tractors was purchased as a part of the ongoing Colombo Ports Container Handling Equipment upgrade project, which is done with an investment of US$ 100 [...]
January 4, 2012 7:17 PM | Posted in
Economy |
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