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Sunday, 24 August 2014

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Dairy farmers in the East were hard hit by drought as there was a shortage in grazing grounds and water for cattle. Scattered showers started last week giving them some relief. Pic: Susantha Wijegunasekera

FDI to exceed US $ 2b by year end

Foreign Direct Investment (FDI) worth US$ 2.5 billion is expected by the end of this year. The FDI inflow is expected to increase to US$ 5,000 million by 2016, Investment Promotion Minister Lakshman Yapa Abeywardena told the media in Colombo last week.

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Textile and apparel exports boost external sector earnings

Textiles and apparel export earnings recorded a steady growth in June this year, a Central Bank report revealed last week. The increase in apparel export income had contributed to the growth in industrial export earnings during the month. Industrial income increased by 18.7 percent year-on-year,

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'External debt: Long-term outlook stable'

The Sri Lankan economy is on a strong, sustainable growth path and external debt of the country as a percentage of the GDP is declining gradually and is at a healthy position, said Private Transport Service Minister C.B. Rathnayake. He said that allegations against government policies and the state of the economy based on the debt ratio is irrational and misleading.

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Boost for Lanka-Vietnam trade

A trade agreement between Sri Lanka and Vietnam was signed in Hanoi last week. Today's beginning will open opportunities for both countries. Setting up of a Joint Working Group (JWG) or Joint Trade Sub Committee, will help strengthen bilateral trade and economic relations and my Ministry will closely monitor progress,

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