The Asia-Pacific region prospered by becoming the source of more than half of global factory output, but another transformation to higher-productivity services has the potential to further support growth. Employment and production typically move from agriculture to manufacturing to services, as part of natural progression that comes with rising income. Today, many Asian countries—including China,…
Destination Sri Lanka Aims to Captivate 7 Million Travel Enthusiasts The Sri Lanka Tourism Promotion Bureau (SLTPB) is thrilled to announce an exciting initiative aimed at promoting Sri Lanka as a premier travel destination through a series of influencer-led creative press trips from October 28 to November 8, 2024. This event will feature 30 renowned…
The Sri Lanka-Canada Business Council (SLCBC) of the Ceylon Chamber of Commerce successfully concluded its nine-member trade and investment mission to Canada, strengthening bilateral ties and exploring trade, investment, and allied opportunities in key sectors. Held from October 14th to 22nd, the mission was led by SLCBC President Priyantha Chandrasekara and included constructive exchanges with Canadian…
The Israeli Knesset’s ban on UNRWA’s operations voted on 28 October represents a devastating blow to Palestinian life. It will further undermine people’s survival prospects in Gaza and heavily impact communities in the West Bank. Médecins Sans Frontières (MSF) denounces this legislation, which represents an inhumane ban on vital humanitarian aid. The Knesset’s vote is…
The Planters’ Association of Ceylon (PA) today announced that member Regional Plantation Companies (RPCs) increased the festival advances for their employees commencing with the Deepavali festival. Accordingly, all RPC workers received an increased festival advance from a previous Rs. 20,000 up to Rs. 25,000, reflecting a 25% increase, while staff will see a 20% increase…
Fitch Ratings: The turn of the global monetary policy cycle this year, with rate cuts in the US, the eurozone and other major economies, has been a significant contributor to investor confidence and a fairly benign global macro and credit environment, Fitch Ratings says in the latest Risk Headquarters report. However, geopolitical and political risks,…
Teejay Group, Sri Lanka’s first multinational textile manufacturer, recorded a Profit after Tax of LKR 0.9 Bn for the first half of the financial year ending 30th September 2024. The Group Revenue reached a notable LKR 32.7 billion, recording an 11% increase compared to the first half of the previous year. Gross Profit of the…
The overall rate of inflation as measured by the CCPI on Y-on-Y basis is -0.8% in October 2024 and Y-on-Y inflation calculated for the month of September 2024 was -0.5% (Table 3). The Y-on-Y inflation of Food Group increased to 1.0% in October 2024 from -0.3% in September 2024 and the Y-on-Y inflation of Non…
The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Consulate General in Dubai, UAE, organized Sri Lanka’s participation at GITEX Expand North Star from October 13 to 19, 2024. This initiative featured a range of activities, including business meetings, networking sessions, and field visits across Dubai, aimed at showcasing Sri Lankan…
The 99x Group has emerged as a leading force in the global tech landscape, with seven companies from Norway, Malaysia, Sri Lanka, Brazil, and Portugal uniting to strengthen its position in product engineering services, IT consulting, and web solutions. Bringing together more than 600 employees worldwide, the group includes Seeds, LeanOn, Nextly, Cleverti, Incrementi, Clave,…
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