Apparel exports to hit $ 5 billion this year
Sri Lanka's apparel exports have been exceptional
during the past few years despite the withdrawal of the GSP Plus
trade concessions and the global economic turmoil, Sri Lanka Apparel
Exporters Association (SLEA) data revealed. Apparel export turnover
has grown several-fold despite the global economic slow down
affecting Sri Lanka's key markets such as the US and Europe which
import a large quantity of apparel,
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Trade deficit drops 12 percent
The trade deficit dropped 12.1 percent to US$
2,621 million in the first four months of this year from US$ 2.980.9
million in 2013, the Ministry of Finance mid year report stated. The
decline in deficit was due to higher growth in exports compared to
imports. All export categories recorded a healthy growth except
petroleum products.
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Spa Ceylon opens branch in Mumbai
Spa-Ceylon marked its entry to India's lucrative
luxury wellness sector with the launch of its flagship boutique in
Mumbai's fashionable ‘Bandra Linking Road’ up-market shopping strip.
Sri Lanka-born Bollywood actress Jacqueline Fernandez was among
those present.
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Industrial zones in remote areas
The Government will take industries to the
village. Industrial zones or parks will be set up in remote
Divisional Secretariat Divisions while prominence has been given to
Hambantota, Investment Promotion Minister Lakshman Yapa Abeywardena
told the media last week.
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Tea production up in May
Tea production in all three elevations recorded
year-on-year growth during May this year which is a strong recovery
from the negative trend in April. The gain for May this year when
compared to the corresponding month of the previous year was 5.4
million kilograms (mkgs),
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