Ceramics industry faces turbulent times
The ceramics industry is facing turbulent times
due to the high cost of production and the eurozone debt crisis
which has caused the export market to shrink, ceramic exporters
said. The rising cost of production and the declining demand from
export markets is posing a major threat to the Sri Lanka's ceramics
industry, an exporter said.
Anilana Hotels and properties invests Rs 4.2 billion
Anilana Hotels and Properties Ltd plans to add
1000 rooms to the hospitality sector by 2015. The group controlled
by entrepreneur and frontline asset manager, Asanga Seneviratna and
his family have invested Rs 4.2b and is very bullish about the
Moderate growth this year - ADB
The Asian Development Bank (ADB) forecast a
moderate economic growth rate for Sri Lanka this year in the Asian
Development Bank Outllook for 2012 (ADO). The Bank said that Sri
Lanka's economic growth rate will be around seven percent this year
and would improve in 2013.
Marked increase in arrivals from Latin America and Caribbean
Latin America and the Caribbean region recorded
the highest growth percentage in tourist arrivals during the first
three months this year although the number of visitors was low
compared to other regions. The number of arrivals from the region
was up 67.4 to 549 compared to 328 recorded during the corresponding
period last year.
IMF forecasts 7.5 percent growth for Sri Lanka
After a setback in 2011 global economic
prospects are gradually strengthening but downside risks remain
elevated the IMF World Economic Outlook 2012 released last week
said. Improved economic activities in the US in the second half of
last year and better policies in the Euro area in response to its
deepening economic crisis have reduced the threat of a sharp global
Mega shipping alliance not violating antitrust rules
A major concern among shippers is whether mega
shipping alliances formed recently pose a threat to exporters and
port operators. Aitken Spence Maritime and Logistics Chairman, Dr.
Parakrama Dissanayake said that four mega shipping alliances MSC and
CGM, Maersk Line, Grand Alliance and New World Alliance and CKYHA –
Evergreen from Asia to Europe control a shipboard capacity of
13,435,000 TEUs and a market share of 85.8 percent.