Drop in gold prices hits pawning industry
The gold jewellery pawning sector in the country
has been adversely affected following the drop in gold prices in the
world market triggered by the shift in demand to other assets. The
price of a gold sovereign slumped from around US$ 1,800 to around
US$ 1,200 last week causing problems for banks and financial
institutes which grant loans on a percentage of the value of the
precious metal.
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Economy navigates market turbulence
IMF sources last week said that Sri Lanka’s
economic outlook and Budget 2014 are positive. The economy continues
to move forward, and has navigated recent market turbulence well.
Overall GDP growth has been solid, said permanent representative of
the IMF in Sri Lanka, Koshi Mathai at a media briefing in Colombo.
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Lanka attracts $ 870 m in FDI
Sri Lanka has received US$ 870 million in
Foreign Direct Investment during the first nine months of 2013,
through 55 projects which have launched commercial operations in the
country. This is a 41 percent increase over the corresponding period
of the past year,” BOI sources said.
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New NDB head optimistic about 2014
The NDB Bank will launch many initiatives in
line with the expectations of the government and support the
business community, said Sunil Wijesinghe who assumed duties as
Chairman of NDB Bank last week. He said NDB has been a
professionally managed bank and it is led by a senior banker.
Perhaps it has not realised its full potential. “We are confident
with a professional team the bank will achieve its goals,”
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DFCC conducts SME skills development program in Matara
DFCC Bank, a strategic partner to Small and
Medium Enterprises (SMEs) and a pioneer in developing industries,
has been implementing a strategic plan to develop skills of SMEs
across the country for over two decades.
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Delux Holidays hosts Russia's largest TV network
Delux Holidays (Pvt) Ltd, a subsidiary of
MosLanka Holdings (Pvt) Ltd, hosted the senior management staff of
Russia's largest TV network, TNT at Vivanta By Taj, Bentota
recently. About 250 of their global partners were also present.
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