By Dr Lakmini Fernando and Sunimalee Madurawala Sri Lanka’s economic crisis, fuelled by unsustainable debt and a default in 2022, left the country struggling to stabilise its economy. Its high climate vulnerability that disrupts livelihoods exacerbated the economic challenges. In the face of dual pressures from an economic crisis and climate vulnerability, the need for…
The Crewstone Plus94 Technology Fund –a $75 million private equity fund has been launched by leading investment firms Crewstone International and Plus94 Fund. This new initiative aims to accelerate the growth of both Southeast and South Asia’s tech sectors, with a strategic focus on HealthTech, AI-driven outsourcing, AgriTech, and Deep Tech. The inauguration of the…
Airline rolls out the red carpet to welcome Real Madrid onboard specially chartered Boeing 777, ahead of the Spanish Super Cup tournament Emirates, the Official Main Partner of Real Madrid, has unveiled a special livery on one of its Boeing 777 aircraft. The aircraft touched down in Madrid yesterday, flying the club’s first team players…
Reuters – Sri Lanka will focus on stronger recovery this year after the island nation posted real GDP growth of 5% in 2024, the highest in seven years, its central bank chief said on Wednesday, hoping to accelerate a rebound from its worst financial crisis in decades. Sri Lanka’s economy crumpled under a severe foreign…
A Strategic Initiative to Establish a Commercial Approach to Research and Development Launched Accelerated Action Plan by the New Government to Foster Innovation The government has introduced a fast-tracked initiative aimed at promoting innovation and entrepreneurship across various sectors. Commercializing Research and Development Can Lead to a Sustainable Economy – Senior Advisor to the President,…
The “Gem Sri Lanka – 2025” gem and jewellery exhibition was inaugurated this morning (08) at the Cinnamon Bentota Beach Hotel, presided over by President Anura Kumara Dissanayake. Organized annually by the Chinese Fort Gem and Jewellery Traders Association (CGJTA), the exhibition will be open to the public from today until January 10. Following the…
The Computer Society of Sri Lanka (CSSL) 36th Annual General Meeting called with a resounding call to action from its President Dr. Ajantha Atukorale, who highlighted the critical role of technology and innovation in driving the nation’s digital transformation. AGM will be held at Shangri-La Colombo on 9th January 2025, will bring together Policy Makers,…
FUSION APPAREL (PVT) LTD The joint venture of Brandix signed an agreement with the BOI. The initial investment is worth U$ 1.06 Mn. This new project aims to provide a much-demanded, technology-driven manufacture of glue-bonded garments. Looking at today’s technical outerwear, performance wear, and intimate garments, it is easy to see the evolution—innovative performance, enhanced…
In today’s interconnected world, digital technology is reshaping the global economy at an unprecedented pace. Amongst its many transformations, the rise of digitally delivered services has emerged as a defining trend in the global trade. From financial technology solutions to cloud computing and e-learning platforms, these services are increasingly becoming indispensable. Embracing this sector could…
Fitch Ratings – Underwriting profitability for Sri Lankan non-life insurers will gradually improve as they enhance practices and shift focus to more profitable non-motor segments, Fitch Ratings says in a new report. This shift includes adjusting policy pricing, particularly for motor and medical insurance, to better cope with inflation and rising claim costs. Motor insurance…
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