Exchange Control regulations to be abolished
Sri Lanka has removed most of the Exchange
Control regulations that stunted the country's economy and in the
next 4-5 years, the remaining Exchange Control measures will be
abolished facilitating business and trade, said the Deputy Governor
of the Central Bank, P. Samarasiri at the launch of Lanka Money
Transfer, a money transfer system of DFCC Vardana Bank.
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Tough action against those hoarding rice
Sri Lanka known as the Granary of the East is
facing a shortage of rice which has made prices to skyrocket. The
crisis has resulted in the importation of of rice by private sector
merchants who determine the prices. Minister of Agriculture Mahinda
Yapa Abeywardena said,
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DVB introduces local remittance service
DFCC Vardana Bank (DVB) introduced Lanka Money
Transfer (LMT) in partnership with seven banks and financial
institutions. LMT is a remittance service which allows customers,
both sender and receiver to transfer money with ease using a bank
they trust.
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Glitter of gold to fade further
Gold prices in Sri Lanka will slump further with
the drop in global prices triggered by the recovery of the US
economy and the strengthening of the US dollar.Gold futures fell 0.7
percent to $1,233.12 an ounce in New York, heading for the biggest
decline since October 3, when the metal wiped out the year’s gains.
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SL exports high quality goods
Sri Lanka's export goods are of high quality and
there is a big demand for Sri Lankan apparel in the United States,
US Trade Representative for South and Central Asia, Michael Delaney
told Economic Development Minister Basil Rajapaksa during a
discussion at the Ministry last week.
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Budget 2015:
Government passes benefits of economic growth to people
Since 2005 Sri Lanka has achieved significant
growth in economic and social sectors and the living standard of the
people have improved as a result, President Mahinda Rajapaksa told
Members of Parliament, presenting the 2015 Budget on Friday.
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