Macro economy sound - ADB chief

The President of the Asian Development Bank (ADB), Haruhiko Kuroda said that the Sri Lankan economy will grow at 6% this year and 7% next year, a strong rebound from the 3.5% last year. Kuroda was addressing the media on Friday, after having discussions with the government and visiting the ADB funded projects including the North and the East.

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Lubricant industry heading for NE boom

The lubricant industry, a potential contributor to the country’s economy recorded a five percent growth in the post conflict era spurred by the favourable business environment in the country, said Managing Director, Chevron Lubricants Lanka plc, Kishu Gomes. He said the feat achieved by the industry amidst many challenges is encouraging and added that the lubricant market in Sri Lanka has good prospects following the global economic recovery.

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CEB decision:

Street lamps over to local bodies

Ceylon Electricity Board (CEB) last week took another radical decision to reduce its operational losses and the Minister of Power and Energy Champika Ranawaka said that the CEB will not bear the cost of street lighting in the future.

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