CB predicts 8.5 percent growth for 2011
Increase in revenue collection from import taxes:
Central Bank Governor Ajith Nivard Cabraal said
the Bank is predicting a growth of 8.5 percent for this year. The
61st annual report of the Monetary Board was submitted to the
President and Finance and Planning Minister Mahinda Rajapaksa at the
Central Bank yesterday. Speaking at the presentation of the annual
report 2010 the Governor said the year 2010 showed a great
improvement and it was a good year amidst many challenges that the
country had to face in 2009.
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Shortage of containers:
Reduction in freight charges
The shipping industry is looking forward to take
advantage of the reduction in freight charges in certain parts of
the world. The freight charges have come down for Europe, USA and
Far East including China. “This is a welcome reduction for
exporters. They need to work towards taking advantage of this
situation,” Sri Lanka Shippers Council Chairman Gihan Kuruppu told
Daily News Business.
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Laugfs Leisure eyes more hotels
Laugfs Leisure is looking forward to take over
the management or to buy hotels. It has a five year plan to
aggressively enter the leisure sector by building hotels in the
Cultural Triangle and in attractive locations in South coast and
East coast. The first hotel to be constructed by the Laugfs Group at
a cost of Rs 500 million investment is expected to complete
construction by June next year.
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