Lanka should expand India, China trade link
Sri Lanka should expand the trade link with
emerging markets such as China and India, when consumption in
industrialized nations is weak and countries like China and India
are trying to boost consumption, International Monetary Fund’s
resident representative Koshy Mathai said.
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Softlogic Finance surpasses Rs 5 bn in assets
Softlogic Finance is continuing to forge ahead
with its aggressive expansion strategy, recording its total assets
at Rs 5.4 billion as at May 31, 2011. With its asset base rising by
over 185 percent from the Rs 2.9 billion that was recorded in
September 2010, the company now categorized as a “Large Financial
Company” by the Central Bank, also reported 100 percent growth in
its public deposit base during the period September 2010 to May
2011.
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Lanka records 7.9 percent growth in Q1 2011
The national economy has recorded a 7.9 percent
economic growth for the first quarter of 2011 vis-a-vis the 7.1
percent for the corresponding period a year ago, according to the
latest statistics of the Census and Statistics Department. These
growth statistics have been buttressed by a phenomenal growth in the
industrial sector which has leaped to 11.1 percent from 6.9 percent
between the two quarters of the two years while the service sector
also has reported a growth of 9.5 percent from the 6.7 percent
between the two years.
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