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Sri Lanka

Capital: Colombo (commercial), Sri Jayawardenepura; GDP growth (annual %) 2016 :4.4%;

Sri Lanka exports to rise after regaining GSP+ status

The recent decision by the EU to reinstate Sri Lanka to its tariff exemption scheme, designed to assist developing nations in achieving upper-middle-gain status, should serve to boost exports and generate renewed private sector investment .

On May 19 the EU formally restored Sri Lanka to the ranks of nations that benefit from the enhanced Generalised System of Preferences Plus (GSP+), which provides additional tariff preferences.
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Sri Lanka seeks international assistance as monsoon death toll reaches 113

Death toll from recent landslides and floods, triggered by monsoon, in Sri Lanka has reached 113, as the island country has sought international assistance.

The national-run disaster management center, while updating the death toll from an before figure of 91, said on Saturday that nearly 100 people were still missing next the worst torrential downpours since 2003 drenched the tropical Indian Ocean island country.
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Sri Lanka only leasing out oil tanks to India

Sri Lanka will only lease out oil tanks to India under the proposed transaction to jointly operate a strategic oil facility in the eastern port district of Trincomalee, Prime Minister Ranil Wickremesinghe has said.

Addressing a gathering in the central town of Welimada yesterday, the Prime Minister said the joint working group of the two nations will formulate investment plans for the integrated development of Trincomalee.

"Japan may as well join in Trincomalee development," Wickremesinghe said.
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Key Facts: Full name: Democratic Socialist Republic of Sri Lanka
Population: 20.4 million (UN, 2010)
Area: 65,610 sq km (25,332 sq miles)
Major languages: Sinhala, Tamil, English
Major religions: Buddhism, Hinduism, Islam, Christianity
Life expectancy: 72 years (men), 78 years (women) (UN)
Monetary unit: Sri Lankan rupee
Main exports: Clothing and textiles, tea, gems, rubber, coconuts
GNI per capita: US $2,240 (World Bank, 2010)
Internet domain: .lk
International dialling code: +94

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Interview

Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

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Sri Lanka Year in Review 2016
2017/04/17

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Asia Economic Roundup: July 2016
2016/07/18
Without a doubt Britain’s decision to abandon the European project will be remembered globally as a wake-up call for political elites around the world. It seems the people chose to go against immediate economic interest and accept an extra financial turmoil in order to address deeply seated social and identity issues.

Although Asia’s exposure to the UK is relatively limited and this is not exactly a “Lehman Moment”, nonetheless we can expect a lively debate as policymakers in Asia look for an appropriate response to address the needs of vulnerable households.

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Sri Lanka Year in Review 2015
2015/12/27
In the wake of general elections before this year, Sri Lanka has emerged with a renewed emphasis on economic reforms and fiscal consolidation, which has allayed concerns for a lot of local and foreign investors.

Until August, election delays had entirely created a wait-and-see approach in the private sector, with investors pressing pause on several high-profile projects. Most notably, the country’s major-ever foreign investment – the $1.4-bn Colombo Port City real estate project funded by the China Communications Construction Company – remains on hold as the year comes to a close.

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Sri Lanka’s violent ethnic conflict came to an end in mid-2009,
2014/01/05
Sri Lanka’s violent ethnic conflict came to an end in mid-2009, at the same time as the separatist LTTE was militarily defeated by the Sri Lankan security forces. Following the end of the decades-long war, the country has been faced with the twin challenges of development and national integration.

For Sri Lanka presently, the country’s education system has become the major factor affecting both its development process and national integration.

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Sri Lanka Finance , One of the oldest financial systems in Asia
2015/09/29
Mr. R.S. Egodage, CEO of Commercial Credit and Finance, talk about the company’s strategy and its plans to grow.

Asian banking revenues have grown at an annual average rate of 9% across Asia over the last three years, at a time at the same time as revenues have been flat or shrinking in Western markets.

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