India's diversified giant ITC Group on Friday expressed growing optimism on Sri Lanka unveiling its first ever overseas project, the luxurious The Sapphire Residences and the ITC One five star hotel opposite Galle Face Green with an investment of between $ 300 million and $ 400 million.
Finance Minister Mangala Samaraweera said the Government had not taken shortcuts towards “populist” economic interventions but long-term pains that lead to lasting benefits, where every citizen can become a shareholder of the knowledge-based, highly competitive social market economy that has been envisaged under the Government’s Vision 2025 policy document.
Earnings of listed companies have been up 4% in the Second Quarter and 11% for the 12 months despite challenging times.
The seismic vessel BGP Pioneer has arrived at Colombo Port to conduct a Modern Broadband 2D Seismic Survey for hydrocarbon exploration in the country. The inauguration ceremony to commence operations was held yesterday under the patronage of the Minister of Petroleum Resources Development Arjuna Ranatunga.
Some 400 prisoners have escaped from a facility near the Libyan capital Tripoli amid deadly violence between militia groups in the city, police say.
Pakistan has dismissed as “incorrect” reports the United States has canceled $300 million in military aid to the country, saying Washington owed the money to Islamabad for expenses incurred on fighting terrorism.