Slump in gold prices triggers sales
The drop in gold prices is a boon to gold
merchants but a bane to those in the mortgage business due to the
loss incurred with the sharp drop in the value of the precious
metal. Gold merchants in Sea Street, said that sales had shot up
with the slump in gold prices which was triggered by the
appreciation of the US dollar.
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BOI investments grow 8 percent
The Board of Investment (BOI) has approved
export projects with an export value of US$ 5.9 billion by November
last year, an 8 percent growth compared to the US$ 5.5 billion in
the corresponding period of 2012, according to Investment Promotion
Minister Lakshman Yapa Abeywardane. The export value for December
2013,
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Trade deficit contracts in November
Favourable developments in the external sector
continued in November 2013, with a sharp contraction of the trade
deficit, leading to an improvement of the overall balance. Earnings
from exports increased substantially, reflecting gradual recovery in
export destination countries, while expenditure on imports declined.
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MHDL IPO opens on Jan 28
Millennium Housing Developers Limited (MHDL)
will introduce an Initial Public offering (IPO) to raise Rs.192
million. This is the first IPO for this year and the company will
offer 16 million ordinary voting share at Rs. 6 per share with an
option of a further 16 million shares. The IPO will open on January
28 and will remain open for 14 working days.
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Tourist arrivals hit 1.2m in 2013
Sri Lanka met its tourist arrival target of 1.2
million last year, according to statistics released by the Sri Lanka
Tourism Development Authority (SLTDA). The Authority has validated
the tourist arrival figures for each month of 2013, which reveals
that 1,274,593 tourists had arrived in the island in 2013.
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