IT industry records significant growth
The Information Technology (IT) sector has shown
significant growth and its benefit will trickle down to different
strata of society. “The industry is set to achieve export revenue
targets and shows exponential growth with the country heading
towards a knowledge hub.
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Hundred percent margin deposit for LCs hits vehicle importers
Vehicle importers said that the hundred percent
margin deposit for opening a Letter of Credit (LC) is adversely
affecting all vehicle importers who have fallen from the frying pan
to the fire due to the exorbitantly high vehicle import duty.
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SLTDA mulls tourism resorts in 14 islands
Sri Lanka Tourism Development Authority (SLTDA)
has identified several new areas which are ideal to promote the
tourism industry, Director, Tourism Planning and Development, P.U.
Ratnayake said. He said that the islands in Kalpitiya and the
Nilaveli and Kuchchaveli areas in the Trincomalee district are
suitable for tourism promotion.
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'NSB bonds will boost Lanka's balance of payments'
The National Savings Bank (NSB) last week raised
$ 750 million successfully from the international market. However,
financial analysts said that the rates were relatively high.
According to market sources the price guidance for the bonds was
initially set at 9.25 percent. However, it had narrowed to 8.875
percent. The bank went to the market for $ 500 million and had been
oversubscribed up to $2.0 billion,
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Central Bank launches book
The Central Bank released its latest educational
publication 'An Introduction to Principles of Economics – Part 1'
authored by Director, Centre for Banking Studies (the training arm
of the Central Bank), C P A Karunatilake.
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