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Friday, 16 March 2012

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Oil blocks to generate over US $ 2.25 b revenue

Sri Lanka is expected to generate over US$ 2.25 billion through investments from shallow water oil blocks in the Mannar basin shortly. The investment will be towards off shore oil exploration,drilling and production and infrastructure in the next five years.

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South Asian tourism coordination office opens in Colombo

South Asia countries are to launch a joint tourism promotion website and a tourism coordination office to boost the marketing of natural, cultural and historic attractions across South Asia. In addition a regional promotional office funded by the Asian Development Bank (ADB) would be set up in Colombo.

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Recent measures taken to reverse imbalance in economy - Cabraal

Sri Lanka is moving towards a 100 billion dollar GDP and the recent measures taken was meant to reverse the imbalance in the economy. We were victims of our own success that resulted in our trade deficit becoming wider which affected the overall current account and the BOP.

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Minister of Economic Development, Basil Rajapaksa and Country Director ADB,Rita O’ Sullivan at the launch of the website at Taj Samudra yesterday. Picture by Shirajiv Sirimane



 
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