A new chapter in economic development

Sri Lanka's second international airport in Mattala to be opened tomorrow will attract overflying Airbus A380 aircraft and earn navigation fees, officials said. Aircraft flying over Sri Lanka from Dubai to Sydney is one of the targets.The Mattala Rajapaksa International Airport with a 3,500-metre long and 60-metre wide runway, and 7.5-metre shoulders has been designated ‘Code F’ by the International Civil Aviation Organisation and could handle Airbus A380 aircraft.

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Hamilton Canal development, a fillip for eco-tourism

Work on the Rs. 700 million Hamilton Canal tourism development project will be completed next month, Economic Development Ministry sources said. The project to promote tourism commenced three years ago by developing the seven-kilometre stretch from the Negombo lagoon to Maha Oya. Work is in progress on the two-kilometre stretch from the Kelania river to Hekitta.“The river bank on the stretch has been renovated and the project is due to be completed as scheduled. Facilities for fishermen such as marketing stalls and jetties for boats, will be constructed,” a project officer said.

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MOODY INTERNATIONAL

Lanka makes notable progress

Moody's Investors Service has assigned a B1 rating to Sri Lanka taking into account the notable progress that the country has made over the past three years. Moody's latest report on Sri Lanka titled ‘Sri Lanka -- the post-IMF backdrop: downward growth pressures and elevated external pressures’ said that Sri Lanka's economy faces slower growth and elevated external pressure in the year ahead.

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