Japanese businessmen to invest in Sri Lanka
Asia Capital Sri Lanka Hybrid Fund funded by CD
One Limited of Japan, was launched by Asia Wealth Management Company
Ltd. This would facilitate funds up to Rs. 1.5 b for investment in
tourism, construction and energy sectors in Sri Lanka. The Rs. 1.5 b
will be funded by Japanese corporates and high net worth individuals
based on market surveys by Asia Wealth Management with the initial
investments commencing in mid January 2013.
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Economy grows 4.8 percent in Q3
The GDP growth rate in the third quarter of the
year recorded at 4.8 percent (constant 2002 prices) according to the
National Accounts published by the Department of Census and
Statistics. This is a decline from the 8.5 percent in the
corresponding period of the previous year. The agriculture sector
has recorded a negative growth of 0.5 percent while industrial and
service sectors recorded 7.3 and 4.6 percent growth during the
period.
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Softlogic to sell 38% stake in AAI
Asian Alliance Insurance (AAI) will sell a 38
percent stake for a consideration of Rs 1.8 b to Germany’s DEG and
Netherland's state owned development bank FMO. Over 95 percent of
the AAI is controlled by the Softlogic Group, Sri Lanka’s
diversified conglomerate.
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ADB to invest in skills development
The Asian Development Bank will assist Sri Lanka
in skills development with an investment of $ 300 m and will drive
the human capital upgrading initiative of the government to enable a
competent workforce, Asian Development Bank (ADB), Country Director
Rita O’Sullivan said.
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Budget 2013 meets development targets
The 2013 Budget meets the country's needs and
development targets, Laugfs Holdings, Chairman W.K.H. Wegapitiya
said. The country has a vital mission to achieve economic prosperity
and development targets. The 2013 Budget supports a development
plan. Its bottom line is to boost business in the country.
Increasing production through small and medium scale industry
development is important to boost economic growth.
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Intel Teach program in Uva
Chief Minister of the Uva Province, Shashindra
Rajapaksa inaugurated Uva province’s sixth Classmate PC lab at
Moneragala Royal College. Additional Secretary to the President,
Anura Dissanayake, EKSP Project Manager, Uva, Anura de Silva and
Country Business Manager, Intel Sri Lanka, Indika de Zoysa were
present.
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