'Regional disparities should be addressed'
To achieve the economic development plans of the
government and reach $ 7,000 per capita income by 2020, Sri Lanka
should address regional disparities in development and problems
related to marginalised groups, Managing Director, Hayleys
Agriculture Holdings Limited, Rizvi Zaheed told the Economic Summit
2014, in Colombo last week.
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Proposals for Budget 2015:
Chambers focus on industrial development
Business and Industry Chamber heads e preparing
proposals for the 2015 Budget, said that the Chambers expect the
next Budget to be business-friendly and that it would comprise
measures to develop local industries.
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Consolidation process moves forward - CB
The financial sector consolidation process made
significant progress in July. The proposed consolidation, merger and
acquisition plans submitted by banks and finance and leasing
companies (NBFIs) were reviewed and evaluated by the Central Bank.
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State debt position improves
The Sri Lanka State debt position has improved
according to this year's midyear statistics, Central Bank sources
said. The report issued last week said that the public debt
portfolio is rapidly improving and by mid 2014, total public debt as
a percentage of GDP had declined to 74.3 percent from 78.3 percent
at the end of 2013.
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DFCC Bank's debenture issue oversubscribed
DFCC Bank’s three-year Listed Senior Unsecured
Redeemable debenture issue was opened and closed within hours, with
an overwhelming subscription, on the opening day. This is the first
time a financial institution raised debt in the local market at a
single-digit rate of interest signalling the interest rate trends.
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Abans Engineering introduces modern HVAC products
Abans Engineering (Pvt) Ltd the sole agents in
Sri Lanka for LG VRF systems and a market leader in HVAC solutions
has introduced the fourth generation LG Multi V energy-efficient VRF
products to the market.
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Asian Alliance bags gold at NASCO Awards
Asian Alliance Insurance PLC earned national
recognition for its premier standards at the NASCO Annual Awards
recently when its valued corporate sales team bagged the prestigious
Gold Award 2014 in the category of Territory Manager (Insurance
Industry) for outstanding sales professionalism.
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