The IMF predicted “broadly stable” growth for Sri Lanka in the next 2 years with improvement in GDP pinned at a 6% range.Releasing the Asia Pacific Region’s Economic Outlook,the IMF projects Lankan economy to grow by 6.3% in 2013 and 6.7% in 2014.
Tourist arrivals up 7.7% in March 2013
Sri Lanka’s tourist arrivals rose 7.7% to 98,155 in March 2013 with strong growth from key Western markets and China,official data shows.In the first 3 months of the year arrivals were up 10.9% to 288,798.
Knowledge Park – Colombo
Sri Lanka is building a ‘Knowledge Park’ at a cost of US$7Mn as per officials. The Tripoli Market in the capital Colombo will be transformed to host professionals from varied fields of expertise to interact with each other and promote innovation and new ideas.
Katunayake Expressway to be opened in August 2013
Arrangements are being made to open the 26 KM long Katunayake-Kelaniya Expressway in August, built at a cost of US$ 291 Mn.The Ports and Highways Ministry commenced the construction of the express way in 2009.
Trincomalee Port City
Sri Lanka is set to improve infrastructure in the northeastern port city of Trincomalee with an US$85Mn loan from the Asian Development Bank.The Integrated Urban Development Project for Trincomalee will improve city infrastructure and encourage port related private sector investments.
Stock Market Update :
The Sri Lanka fund is an open ended Fund denominated in US Dollars which primarily invests in equities and other equity linked securities with exposure to the Sri Lankan market. It is an exempt Company with limited liability incorporated in the Cayman Islan...
Promoted by the largest listed equity fund in Sri Lanka - Ceylon Guardian Investment Trust PLC (CGIT). CGIT is 67% held by Carson Cumberbatch PLC a listed Sri Lankan conglomerate with business interests in oil palm plantations, brewing, investments, real estate and leisure sectors, spanning across South and South East Asia.
Currently Carsons is among the top ten capitalized companies on the Colombo Stock Exchange and together with its subsidiaries accounts for 10% of total market capitalization.