Capital market to contribute US $ 50 bn to GDP by 2016
The capital market is expected to contribute US $
50 billion for the country’s GDP by year 2016, therefore the Stock
Brokers should be geared to handle the highest number of deposits in
the future, Director General Security and Exchange Commission (SEC)
Dr Nalaka Godahewa said.
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Altair completes first 100 piles for Lanka’s tallest condominium
Construction work on Altair, Sri Lanka's tallest
luxury condominium, is on track with the completion of 100 of 288
piles targeted for March 2013, INDOCEAN Developers, the promoter of
the iconic project reports.
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United States footwear giant Nike now sourcing from Sri Lanka
Sri Lanka’s Footwear and Leather (F&L) sector is
not only an employer with promise but also demonstrates significant
value addition. Meanwhile, the F&L praises the government for its
initiatives but says the emerging ‘footwear assembly sector’ is a
threat to the industry. “Our average annual national production of
footwear alone is over 30 million pairs at a value of $ 47 Mn. Our
footwear and leather value addition is around 45% and in 2012 we
exported $ 31 Mn footwear and leather to global markets” Rishad
Bathiudeen, Minister of Industry and Commerce said.
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