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Depositors protest in Colombo
Depositors of the Ceylinco Property Sharing Investment Corporation today staged a protest campaign against the company in Colombo.
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IMF Says Sri Lanka Reserves at ‘Comfortable’ Levels
Nov 20 (Bloomberg) The International Monetary Fund said Sri Lanka’s foreign reserves are at a “comfortable level”, as it reviews the island’s economy for the release of a third payment in its $2.6 billion loan.
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S.Lanka deficit target challenging,but reachable-IMF
Nov 20 (Reuters) COLOMBO- The International Monetary Fund (IMF) said on Friday Sri Lanka's budget deficit targets for both this and next year are challenging due to slow revenue growth, but still within reach.
A visiting IMF mission, after conducting the second review of a $2.6 billion loan programme, said the nation's post-war economic conditions have improved, but need more reforms in the next two years.
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60-Member strong business delegation leaving for Sri Lanka today
Nov 19 (INN) Lahore- The Vice President of SAARC Chamber of Commerce & Industry, Iftikhar Ali Malik, along with a sixty-member strong business delegation, is leaving for Sri Lanka today (Friday) to participate in SAARC Business Leaders Conclave being held in Colombo on November 22 and 23.
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Sri Lanka shares at 1-wk low on poll concerns
Nov 19 (Reuters) COLOMBO- Sri Lanka's shares fell on Thursday for a second straight day to a one-week closing low, as cautious investors sold shares after a delay over announcement of dates for early national polls.
The All-Share Price Index .CSE of the Colombo Stock Exchange closed 0.34 percent or 10.13 points weaker at 2960.77, its lowest since Nov. 12.
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Capital loss forces TFC to call EGM
Nov 19 (DM) A serious loss of capital at The Finance Company (TFC) has forced its directors to urgently summon an Extra-ordinary General Meeting (EGM) of shareholders on December 11.
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WTM 2009: Sri Lanka targets 500% growth
Nov 10 (TTGL) Sri Lanka is hoping to increase its visitor numbers by 500% in the next seven years.
Bernard Goonetilleke, chairman of Sri Lanka Tourism, revealed the target of 2.5 million tourists by 2016 at WTM.
The end of the island's 26-year civil war earlier this year had already prompted an increase in visitor numbers, he said,
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Fitch Ratings upgrades Sri Lanka's Sovereign Rating Outlook
Fitch Ratings on Friday affirmed Sri Lanka's ratings at 'B+' and revised the country's sovereign rating outlook to 'stable' from 'negative'.
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S. Lanka pre-poll uncertininty pushes stx to over 1-wk low
Nov 20 (Reuters) COLOMBO- Sri Lanka's shares fell on Friday to a more than one-week low at the close, on dipping investor confidence due to a delay in national poll schedule.
The All-Share Price Index .CSE of the Colombo Stock Exchange closed 0.93 percent or 27.43 points weaker at 2933.34, its third straight fallt and lowest since Nov. 12.
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Global investors target Sri Lanka
Nov 20 (DN) The global investor community is keen on exploring opportunities in Sri Lanka as there is a peaceful environment that facilitates growing investor confidence. The next decade would be prosperous for the country as there will be growth potential in its financial market, said Leopard Capital Asia CEO, Douglas Clayton.
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Rajaratnam begins offloading holdings in Sri Lanka
Nov 19 (Hindu) Sri Lanka-born U.S. business tycoon, Raj Rajaratnam, arrested by the FBI on October 16 on charges of vast insider trading, has began selling part of his firm’s holdings in Sri Lanka to cover some of the money required to finance his $100 million bail.
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Singapore investment attracted to NE
Nov 19 (Island) The industrial boom in the North and East has attracted a Singapore business delegation towards investment for the economical growth of Sri Lanka.
The National Chamber of Commerce of Sri Lanka organized its members to interact with the Singapore business society and the Chinese for investment in the North and East.
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Come and borrow- It’s easy, beneficial, says BoC
Nov 19 (DN) The number of beneficiaries of the low interest loans offered by the Bank of Ceylon needs to be increased to stimulate economic activities of the country. More awareness is necessary among the public regarding the loan scheme to encourage the borrowers to obtain loans at reduced interest rates, Bank of Ceylon Chairman Dr. Gamini Wickramasinghe told the Daily News yesterday.
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