Fitch Ratings: Economic growth in APAC will generally remain strong in 2024, especially in emerging markets (EMs), supporting sector outlooks across the region, says Fitch Ratings. We expect real GDP to expand by, or above, 5% in India, Indonesia, the Philippines and Vietnam. However, headwinds from slower Chinese growth, weak global demand and higher interest…
Invests Rs 475.97million in expansive photovoltaic panel rooftop to offset consumption from national grid Sri Lanka’s top tyre maker CEAT Kelani Holdings has completed an investment of Rs 475.97 million in a High Tension (HT) metering roof-top photovoltaic panel solar power plant as part of the company’s efforts to reduce the carbon footprint of its…
A proposal to select a prospective investor for the first phase of the development of 61 fuel storage tanks in the Upper Tank area of the China Bay Harbour of Trincomalee was approved at the Cabinet meeting held on Monday (01 Jan.). Accordingly, the Cabinet of Ministers approved the relevant procurement process tabled by the…
The Commercial Bank of Ceylon PLC entered into a fresh Collective Agreement and a Memorandum of Understanding (MoU) with the Ceylon Bank Employees’ Union (CBEU) as one of its first acts of 2024, reaffirming the Bank’s unwavering commitment to ensuring better employee terms and conditions and to maintaining an efficient and productive working environment through…
The Cabinet of Ministers have approved a proposal to announce the Asiri Port City Hospital (Pvt) Company as a primary business of strategic importance through a gazette notification and to grant related exemptions or incentives. Earlier, it was proposed by Asiri Port City Hospital (Pvt) Company to implement a project to develop a hospital within…
The Sri Lankan government says it is planning to implement an International A2P (Application-to-Person) short message services (SMS) centre. The Cabinet of Ministers, at its meeting on Monday (Jan. 01), approved a proposal tabled by President Ranil Wickremesinghe aimed at regularizing short message exchanges in order to confront fraud and spam and other illegal activities….
During the 2023 5G Core Network Summit, GlobalData, a world-renowned consulting firm, released the High-Stability Core Network White Paper together with AIS, Entel, Sunrise, Türk Telekom, and Huawei. The white paper is industry’s first to systematically analyze the reliability challenges faced by cloud-native core networks and propose a core network reliability standard to classify different…
Reuters – Oil prices jumped 1.5% in the first session of the New Year, due to potential supply disruptions in the Middle East after a naval clash in the Red Sea, and hopes of strong holiday demand and an economic stimulus in China, the top crude importer. Brent crude rose $1.20, or 1.5%, to $78.24…
State Minister for Finance, Shehan Semasinghe, emphasized that the sustained single-digit inflation has significantly contributed to fostering business confidence within the country. During a press conference at the Presidential Media Centre (PMC) themed ‘Collective Path to a Stable Country,’ held Monday (01) the State Minister disclosed that the state revenue accounted for 11.2% of the…
Reuters – Israel plans to bring in around 70,000 foreign workers from China, India and elsewhere to boost its construction sector, which has been largely frozen since the Oct. 7 Hamas attack, a newspaper reported on Monday, citing a government official. Yehuda Morgenstern, director general of the Construction and Housing ministry, told the Calcalist financial…
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