'Single-digit inflation by early next year'
Central Bank Governor tells American Chamber luncheon
Sri Lankan Government would bring down the
inflation rate to a single digit by the early part of next year,
Governor Central Bank Ajith N. Cabraal said. Speaking at the
American Chamber luncheon in Colombo yesterday Cabraal said the rate
would be lowered to 10 percent by the end of the year.
BOI projects pushing Colombo land value
Proposed BOI projects have resulted in higher
land prices in the Colombo area. Director of The Finance Company
Kamal Yatawara told Daily News that due to the economic boom in
Colombo and the proposed BOI projects have created a high demand for
land in the Colombo area.
Tea industry facing wage increment hurdle
Tea Plantations earn 90 percent or more of the
foreign income to Sri Lanka. Private tea factory owners earn 60
percent of the export revenue. The profitability of the plantations
is very minimal when compared to other industries.