SL's economic growth 'projected to plunge'
The need for a deep robust financial sector for
sustainable growth in Sri Lanka was highlighted by the Asian
Development Bank (ADB) recently released report ‘Asian Development
Outlook 2015’, the flagship annual economic publication.
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Non-prosecution of mega fraudsters:
Govt draws heavy flak
The Government has drawn heavy flak for
undermining good governance by aiding and abetting mega scale
fraudsters and not expediting the prosecution of culprits who
continue to roam freely and even accuse the current Government of
being corrupt.
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Unwarranted taxes and ambiguous policies:
Business community disheartened with Govt
The business community is displeased with the
Government's business policies incorporated in the interim Budget
and the negative image it has created about the country to foreign
direct investors. The Super Gains Tax imposed on large companies
with retrospective effect has stirred a hornet's nest among big
corporates,
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Reinstating GSP Plus:
‘Lanka needs to improve human and labour rights record’
The European Union delegation which began
discussions on reinstating the GSP Plus trade concessions to Sri
Lanka has called upon the government to turn commitment to reality
in adhering to the United Nations conventions.
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CIC Healthcare invests on new factory
The CIC Healthcare and Consumer Division, the
healthcare arm of CIC Holdings PLC will explore the possibility of
finding new export markets following its capacity upgrading and a
new manufacturing plant to be commissioned shortly.
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Over 20 percent of population lack financial inclusion
The banking and finance industry has recorded
sound growth due to the conducive business environment that prevails
at present. However, the country’s financial inclusion is at a low
ebb and 20 to 30 percent of the population do not have access to
proper financial services.
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