C. W. Mackie PLC recently signed a strategic partnership agreement with the Ministry of Agriculture and Plantation Industries, the Agricultural Sector Modernisation Project, and 2K Agro Products Limited. The project is funded by the European Union (EU). Celebrating a remarkable milestone in a journey that began in 2018. C. W. Mackie PLC has shown a…
South Asia’s First Independently Verified SLFRS S1 and S2 Compliant Report Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has published its 16th Annual Sustainability Report, detailing the company’s Environmental, Social, and Governance (ESG) performance for the financial year from January 1, 2023, to December 31, 2023. This report underscores Dialog’s commitment to sustainability and…
Mr. Mangala Wijesinghe officially assumed duties as the 16th Chairman of the Sri Lanka Export Development Board (EDB) on today (16) at the EDB headquarters. Upon assuming his new role, Mr. Wijesinghe addressed the staff of the Export Development Board: “We should diversify and focus more on high-tech industries like electronics and pharmaceuticals, similar to…
The Sri Lankan government has reported a significant rise in revenue for the first eight months of 2024, with total government revenue, including grants, increasing by 40.5%. This growth amounted to Rs. 2,565.9 billion, a sharp increase from Rs. 1,826.6 billion collected during the same period in 2023. The rise was largely driven by a…
GSCS International Ltd, with a global presence in over 35 countries, offers steady, sustainable, and enduring development as a provider of certification, assessment, audit, verification, inspection, and capacity-building services. GSCS International – Sri Lanka successfully organized the SustainSphere 2.0 program, aimed at innovating tomorrow’s industry through sustainability. Held in Sri Lanka, the event attracted a…
Sri Lanka’s interest payments on both foreign and domestic debt reached Rs. 1,559.7 billion during the first eight months of 2024, according to the Pre-Election Budgetary Position Report 2024 issued by the Ministry of Finance, Economic Development, and Tourism. The report, released under Section 52 of the Public Financial Management Act, highlights a 2.2% increase…
The Chamber of Young Lankan Entrepreneurs (COYLE) recently led a high-profile trade delegation to the Republic of Korea, marking a significant milestone for the Sri Lankan business industry. This visit, commemorating the chamber’s 25th anniversary, aims to strengthen economic ties and open up new business avenues between Sri Lanka and South Korea. Spearheaded by the…
By Himani Vithanage Sri Lanka experienced six consecutive quarters of negative economic growth up to the third quarter of 2023. This downturn has had a direct impact on the labour market, leading to lower wage rates and discouraging workforce participation and skill development. As a result, productivity levels continue to fall, creating a vicious cycle…
Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in September 2024. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 54.1 in September 2024. This indicates a continued expansion in manufacturing activities, albeit at a decelerated pace relative to the previous month. All sub-indices, except for…
Reuters – U.S. companies from Target and Macy’s to package delivery firm UPS plan to hire thousands of seasonal workers ahead of the crucial holiday season. Retailers are expected to add fewer seasonal jobs this shopping period than last year due to a softer labor market and tighter consumer spending, according to a forecast from Challenger, Gray…
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