Ukraine crisis not a major threat to exports
The crisis in Ukraine has hit markets across the
globe and stifled exports to the country. Ukraine, an Eastern Europe
country became independent following the disintegration of the
Soviet Union. Europe is a major market for Sri Lankan apparel, tea
and other export items.
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Investment zones for the North and the East
Three to four investment zones will be set up in
the North and the East. There is a conducive environment for local
and foreign investment after terrorism was eradicated, Deputy
Investment Promotion Minister Faizer Mustapha told the Sunday
Observer .
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Chinese biz delegation meets Lankan counterparts
A Chinese business forum and a networking
session with a trade delegation from China was held in Colombo last
week. The 46-member Chinese delegation comprising senior
representatives of 23 Chinese companies and government officials was
headed by the Deputy Secretary General of Zhongshan Municipal
People's government,
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Slow growth in advanced economies hits rubber prices
The rubber boom that producers enjoyed during
the past three years has come to an end and the market now
experiences a continuous price decline. Chairman of the Colombo
Rubber Traders Association, M.S. Rahim said the price decline was
mainly due to stockpiling in China and slow growth in advanced and
emerging economies.
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Prima Group to invest Rs. 500 m to boost capacity
The Prima Group will invest over Rs. 500 million
this year to upgrade capacity, expand product range and enhance
quality, said Group General Manager, Prima Group, Sri Lanka, Tan
Beng Chuan at the launch two products last week. Chuan said that the
Group's business grew last year despite many challenges and added
that the company is optimistic of a better year.
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NTB PAT tops Rs. 2 b
Nations Trust Bank Group recorded a profit after
tax of Rs 2,127 million compared to Rs 1,951 million in the previous
year, a moderate earnings growth of 9%. The Bank continuously
reviewed its internal pricing strategies to balance risk and rewards
on customer assets whilst the mobilisation effort on deposits
continued with emphasis given to acquire low cost deposits.
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