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Sunday, 22 April 2012

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Anilana Hotels and Properties have applied for a listing on the Colombo Stock Exchange

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.

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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 sector.

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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.

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Marked increase in arrivals from Latin America and Caribbean region

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.

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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 slowdown,

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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.

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