IFC, a member of the World Bank Group, will provide advisory services to SANASA Development Bank as it expands to include more micro and small businesses, cooperatives, and retail clients. Importantly, the bank will now reach more rural small businesses across the country, boosting financial inclusion. IFC has been a long term advisory partner with…
Stax Inc., a global strategy consulting firm, is set to highlight and present the Sri Lankan advantage at an event tagged “Investment Opportunities in resurgent Sri Lanka” in collaboration with The Singapore Sri Lanka Business Council (SLBA), The Singapore International Chamber of Commerce (SICC) and the International Enterprise (IE). The event will take place on…
Former Sri Lankan president Chandrika Bandarnaike Kumaratunga is in India for her first visit since the surprise defeat of her successor Mahinda Rajapaksa, a man who was once a close associate and now a political enemy whose regime she was instrumental in overturning. She spoke for the first time to a group of Indian journalists…
New research by global workplace provider, Regus, has revealed that 26% of businesses are planning to hire more returning mothers in 2015 than in 2014. The global study surveyed more than 44,000 senior business people across more than 100 countries. Returning mothers play an important role in the overall economy by contributing to boosting GDP…
The Toyota Motor Corporation announced on Friday an ambitious $50 million robotics and artificial intelligence research effort, in collaboration with Stanford University and the Massachusetts Institute of Technology, to develop “intelligent” rather than self-driving cars. The distinction is a significant one, according to Gill Pratt, a prominent American roboticist, who has left his position at…
Renowned economist Dr. Indrajit Coomaraswamy will be the Chief Guest and deliver the keynote address at the 161st Annual General Meeting (AGM) of the country’s apex plantation industry body – the Planters’ Association of Ceylon – to be held on Friday, 11th September. Dr. Coomaraswamy, who previously served as Director, Economic Affairs Division and Deputy-Director,…
Dull investor sentiment drove Colombo equities to negative territory on Friday. Bourse snapped gains recorded in previous session to touch 6 week low of 7,215.11 with a decline of 30.39 index points or 0.42% while 20-scrip S&P SL index shed 21.01 index points (-0.53%) to end at 3,957.83, recording a 7 week low. Premier blue-chips…
United National Party Colombo District Member of Parliament Ravi Karunanayake has been appointed as Finance Minister in the new Cabinet led by Prime Minister Ranil Wickremesinghe.
The Otara Foundation has appealed to President Maithripala Sirisena to intervene to prevent wild animals rescued from forests being sent to zoos instead of being returned to the wild. Otara Gunewardene has in a letter addressed to the President brought to his attention the case of four sloth bear cubs and a leopard cub now…
Toyota has recently filed a strange patent that hints the company may be developing a flying car. The patent was filed in the U.S. and published today for a “stackable wing for an aerocar.” The patent was originally filed on March 2, 2014 and its abstract reads: “A wing includes an upper surface that forms a generally…
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