|
Cabinet approves Rs. 8.2 b for flood reduction:
The Ministry of Megapolis and Western Development
has sought Cabinet approval for three major projects for immediate
implementation. The three projects are public transport improvement,
‘Should have dispute-solving mechanism’:
There is no draft Economic and Technological
Cooperation Agreement (ETCA) as yet. What has been exchanged between
the two governments is a framework and negotiations will begin
shortly.
The corporate and finance sectors last week
extended their vociferous support to the new Central Bank Governor,
Dr. Indrajith Coomaraswamy and urged him to re-establish the
credibility of the bank while introducing strong policies that
benefit the economy.
The Right to Information (RTI) Act will give a
lot of leverage for many sectors of the economy and it will also
facilitate attracting foreign investment. The Act will ensure the
transparency of a transaction and foreign donors will look at the
country in a more positive manner,
The Government hopes to attract Foreign Direct
Investments (FDI) worth US$ 5 billion this year. The target can be
met through hard work. However, Sri Lanka will definitely receive
FDIs worth US$ 4 billion this year, Investment Promotion Minister
Lakshman Yapa Abeywardena told the media last week.
It was overall a bullish week for the Colombo
Stock Exchange amidst foreign buying. The ASPI closed at 6366.31 up
by 1.26% compared to the previous week with the S&P SL20 closing at
3363.27 up 1.84%. Dr. Indrajit Coomaraswamy was appointed as the
Governor of the Central Bank of Sri Lanka during the week.
|
