Effective from June 1, 2024, the former Mövenpick Hotel Colombo has been rebranded as NH Collection Colombo. This rebranding results from a management partnership between Softlogic City Hotels (Private) Limited, part of the Softlogic Group, and Minor Hotels, an international luxury hotel operator with over 550 hotels in 55 countries across Asia-Pacific, the Middle East,…
The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to exchange information relating to investigations and prosecutions of money laundering, bribery or corruption, and other related offences. Mr. Chethiya Goonasekera, PC, Commissioner of the CIABOC and Mr. Kanishka…
The Asian Development Bank (ADB) signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific. The fund will invest in renewable energy, energy solutions, and sustainable…
Fitch Ratings: Fitch Ratings has raised its forecasts for world growth in 2024 in its latest Global Economic Outlook as confidence in European recovery prospects improve, China’s export sector revives and domestic demand in emerging markets excluding China (EM excl. China) shows stronger momentum. The US is slowing but only gradually and our 2024 growth…
The Ceylon Chamber of Commerce recently signed a Memorandum of Understanding (MoU) with the Southern Gujarat Chamber of Commerce & Industry (SGCCI), paving the way for enhanced cooperation and growth between Sri Lanka and the dynamic business community of South Gujarat, India. Established in 1940, SGCCI’s influence extends through its direct engagement with over 12,000…
R&D Drives Innovations for Niche Premium Export Markets at Hayleys Group Hand Protection Sector Dipped Products PLC (DPL), a global leader in sustainable, premium glove manufacturing and member of the Hayleys Group, announced the launch of the EVPRO Glove – the first ever product specifically engineered to meet the unique hand protection requirements of Electric…
SriLankan Airlines recently entertained the first-ever group of veteran journalists from top Nepali media outlets for a familiarization tour of Sri Lanka, aiming to boost inbound tourism from Nepal. In partnership with Jetwing Hotels, the airline offered the journalists a kaleidoscope of experiences, giving them an opportunity to immerse themselves in the island’s rich cultural…
Federation of Information Technology Sri Lanka (FITIS) signed a Memorandum of Understanding with the Department of Samurdhi Development on 05th June 2024 to provide training and employment for the youth of families of Government Beneficiary Programmes. This MoU signifies the commitment made by the FITIS to the Government of Sri Lanka to assist and improve…
The Executive Committee of Ceylon Association of Shipping Agents (CASA) toured the Hambantota International Port (HIP) last week. The visit was to strengthen relations between CASA and HIP, foster collaboration, and explore future opportunities the port held for Sri Lanka’s shipping and logistics sector. The high powered delegation included Shano Sabar, Chairman of CASA; Janesh…
The recent publication of the International Monetary Fund (IMF) supported Extended Fund Facility (EFF) programme related documents make reference to a proposed property tax to be implemented as an imputed rental income tax. The purpose of this press release is to clarify certain speculations and misconceptions regarding the same. One of the key reasons for…
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