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Sunday, 2 February 2014

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Construction work on the floating market in Pettah is nearing completion. The new market is an important part of the Colombo modernisation project. It has changed the outlook of Pettah, the busiest part of the city where retail and wholesale markets, the central bus stand and the railway station are located. Pic: Vipula Amarasinghe

Despite adverse weather:

Tea production up in 2013

The Sri Lanka Tea Board has confirmed that annual tea production in 2013, was the highest ever at 340 million kilograms, 3.6% more than the 2012 figure of 328 million kilos. The previous record of 331 million kilos was achieved in 2010. This year's figures was released relatively late and would have included most estate returns.

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Dollar gains in Asia after US growth data

TOKYO: The dollar was steady in Asia on Friday following better-than-forecast US growth figures, which also eased concerns about emerging markets after a heavy sell-off this week. The greenback bought 102.52 yen, down from 102.71 yen late in New York but better than the 102.30 yen earlier on Thursday in Asia. The euro weakened to $1.3547 against $1.3554, while it declined to 138.80 yen from 139.21 yen.

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Integrated SL economy more vulnerable to external risks

The Sri Lankan economy is now more integrated into the global capital market compared to our position at the time of the global financial crisis in 2008 and, therefore, we are more vulnerable to external risks, economist Dr. Indrajit Coomaraswamy told a seminar on ‘Tapering of Quantitative Easing (QE) and its global impact’ organised by the Sri Lanka-Italy Business Council in Colombo last week.

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Rising elderly population lacks funding sources

Sri Lanka's elderly population is high compared to many countries in South Asia and those over 60 are expected to double by 2025, said HelpAge Sri Lanka, Program Director Dayal Perera at the the launch of micro-finance services by HelpAge last week.

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Hayleys Lighting launches energy saving booklet

Hayleys Lighting launched a booklet, 'Save Electricity, Save Money', which features tips on how to cut electricity costs, at the Mihilaka Medura, BMICH last week. This booklet is an initiative to inculcate prudent electricity use among the public. The booklet lists ways in which daily routine work can be done smarter that would result in conservation of energy and savings.

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