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Rs. 16b economic stimulus package

An economic stimulate package has been announced by the government from midnight yesterday to kick start the industrial growth which has been affected by the global economic recession.

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Loans for tea smallholders

The Government has agreed to give a working capital loan for tea industrialists in the private sector to overcome difficulties due to the existing crisis. This decision was taken following the meeting held between President Mahinda Rajapaksa and the stakeholders of the industry on Monday.

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Agriculture base saved Lanka

Sri Lankan economy is resilient to the global financial recession due to the strong agricultural base in the country, Associate Professor and Director, International University of Japan Prof N.S.Cooray said.

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Customers walk past a branch of Seylan Bank in Colombo yesterday, a day after it was placed in custody of the state to prevent a possible collapse of the country’s entire financial system. The failure of a Seylan affiliate to meet its debt prompted a run on the Seylan Bank deposits and threatened to undermine the entire economy, according to the regulatory authority. Picture by Ishara Kodikara, AFP

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• No run on Seylan deposits

• Biz Thumbnails

• Blue Diamonds AGM

• Tea with Ravi Wijenathan : Disciplined society vital for development

• Export or perish?

• NDB Bank partners EDEX

• Business Travel

• More power in 2009