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Wednesday, 23 September, 2009
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Sri Lanka’s economic upturn surprises IMF
By Santhush Fernando
The International Monetary Fund (IMF) mission that visited Sri Lanka during September 8 to 22, to hold discussions with the Government on the first review of its programme by the US $ 2.9 billion Stand-by Arrangement, said that economic prospects of the country had greatly improved, leading the multilateral donor agency to raise GDP growth projections from 3% to an ambitious 3.5%.
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IMF warns Sri Lanka over borrowing
The International Monetary Fund on Tuesday warned Sri Lanka against building foreign currency reserves by borrowing from foreign investors, the AFP reported yesterday.
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For Nike it is simply let’s ‘Just Do It!’ in Sri Lanka |
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International sports apparel and footwear giant Nike who is famous for its sign off “Just Do It” yesterday propelled Sri Lanka’s profile in the worldwide fashion industry when it opened its global Apparel Innovation and Training Centre in Thulhiriya in partnership with MAS Holdings subsidiary specialising in sports and active wear MAS Active. Here Investment Promotion and Enterprise Development Minister Anura Priyadarshana Yapa chats with employees while MAS Holdings Chairman Mahesh Amalean and Nike Global Apparel Manufacturing Director Dipayan Dasgupta look on.
Pic by Ravindra Dharmathilake |
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Foreign taking of Govt. debt tops $ 1 b
Central Bank last week revealed that total net foreign inflows to the government T-bills and T-bonds since mid May 2009 has amounted to US$ 1.214 billion.
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