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World Bank urges SL:
Enhance role of private sector
Key challenges for Sri Lanka include enhancing
the role of the private sector, including the provision of an
appropriate environment for increasing productivity and exports,
boosting investment, human capital, realigning public spending and
policy with the needs of a middle-income country,
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CEA to claim damages from Coca Cola
Report on Kelani River contamination out soon:
The report on the assessment of the damage
caused to the environment by the alleged discharge of pollutants
into the Kelani River by the Coca Cola Company on August 17 will be
released soon and the Central Environmental Authority (CEA) will
claim damages from the company, CEA Chairman Prof. Lal Dharmasiri
told the Sunday Observer last week.
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Low quality vehicles flood the market - Importers
Local consumers will face difficulties in buying
good vehicles in the future as low quality vehicles are being
imported, President, Vehicle Importers’ Association of Sri Lanka,
Mahinda Sarathchandra told Sunday Observer Business. The country’s
foreign exchange reserves are wasted substantially and enormous
costs are being incurred on fuel mainly due to huge traffic
congestion experienced in Colombo and other main towns due to the
indiscriminate import of motor vehicles.
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Colombo likely to slip further in Global Competitive Index -
Survey
Global Competitive Index surveys reveal Colombo
will slip to the 108th position within the next 10 years, behind a
host of Indian cities such as Ahmedabad, Chennai, Pune, Hyderabad,
Delhi and Mumbai. Sri Lanka ranked 102 among 120 cities in the
Global Competitive Index compiled by the Intelligence Unit of the
‘Economist’.
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Strong investor interest in Pan Asia Bank debenture issue
With the successful completion of the Pan Asia
Banking Corporation PLC’s (Pan Asia Bank) Rs. 4 billion debenture
issue which was oversubscribed on the opening day, receiving
subscriptions exceeding Rs.5.5 billion, the bank is now gearing up
for a higher growth trajectory aiming to achieve a Rs.100 billion
asset base.
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