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Malaysia ready for adverse outcome of Thailand coup
MALAYSIA: A Malaysian woman (L) takes a look at several lengths of multi-coloured cloth at a textile shop in Nilai town, near Sepang. Malaysian Prime Minister Abdullah Ahmad Badawi has dismissed fears there will a repeat of the 1997 Asian financial crisis after Thailand’s military coup, but said Malaysia would prepare for adverse outcomes, state media reported. AFP

Serious crisis developing: Advantage of low labour costs in apparel industry ends

The advantage of low cost labour has come to an end in the apparel industry in Sri Lanka and a serious crisis is developing. The Joint Apparel Association Forum, the umbrella organisation of the apparel associations in Sri Lanka said that the industry is not in a position to increase the minimum basic wage to Rs. 10,000, as demanded by some trade unions.

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Construction sector to yield over Rs. 3,800b to national GDP in 2011

Sri Lanka's construction sector will contribute Rs. 3,860 billion to the national GDP in 2011 against the current Rs. 2,325 billion. The overall contribution will increase to 12 percent from the present 7.2 percent, Co-Chair of the Construction Cluster of the National Council for Economic Development, D.D. Wijemanne said.

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Rs. 6 m project to increase competitiveness in 30 factories

The Ministry of Industrial Development will implement a project to increase the competitiveness of 30 factories selected from seven sectors at a cost of Rs. 6 million.

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