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Choppy ride for trade
Confirming the continuity of the impact from the global recession, the plummet in Sri Lanka’s external trade persist.
As per latest trade data released by the Central Bank this week exports were down by 19% to US$ 2.6billion and imports dipping by 38% to $ 3.6 billion in the first five months of the year in comparison to the corresponding period of 2008.
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Gross foreign reserves down but enough - CB
Central Bank said the gross official reserves, with and without Asian Clearing Union (ACU) funds, recorded US$ 1.48 billion and $ 1.43 billion respectively, by end May 2009. These include deposits of $ 145 million placed with two domestic banks. Based on the previous 12 month average imports ($983 million per month), these reserve values are equivalent to 1.51 and 1.46 months of imports, respectively.
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President Mahinda Rajapaksa with the first copy of the new local language interface software jointly developed by Microsoft and ICT Agency at Temple Trees on Monday. Microsoft Sri Lanka Country Manager Shriyan de Silva Wijeyeratne, ICTA’s Chairman Professor P. W. Epasinghe, Microsoft Sri Lanka EPG Director Channa de Silva, ICTA’s Chief Operating Officer Reshan Dewapura, President’s Secretary Lalith Weerathunga and ICTA’s Director Jayantha Fernando are also present |
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Bill Gates says Lanka poised for greater growth
Microsoft founder Bill Gates on Monday expressed his optimism that Sri Lanka “is poised for greater economic growth and development” and expressed the global giant’s support since much of future prosperity would be fueled by the use of software and the power of IT.
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Six banks to lend Rs. 3 b to economically
awaken the North
Under a Presidential initiative six banks will begin lending initially Rs. 3 billion to a range of sectors to economically awaken the North.
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