Reuters – Global economic growth is projected to remain at 2.8% in 2025, unchanged from 2024, held back by the top two economies, the U.S. and China, according to a United Nations report released on Thursday.The World Economic Situation and Prospects report said that “positive but somewhat slower growth forecasts for China and the United States” will…
The Appropriation Bill for the 2025 financial year was presented to Parliament today (09), outlining the government’s proposed expenditure for the year from January 1, 2025 to December 31, 2025. The total estimated government expenditure for the period from January 1 to December 31, 2025, has been set at Rs. 4,616 billion. Details of the…
Fitch Ratings – Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘CCC+’ from ‘CCC-‘. The ratings do not have an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. Fitch has also upgraded BOC’s Viability Rating (VR) to ‘ccc+’ from…
With urgent agricultural reforms becoming increasingly imperative, the session on ‘Transforming Productivity in Agriculture’ at The Sri Lanka Economic Summit (SLES) organised by The Ceylon Chamber of Commerce, will examine strategies to boost agricultural productivity, and the reforms necessary to support key targets. Conducted under the theme Shaping Sri Lanka’s Future: Transformational Growth Rooted in…
The Appropriation Bill to allocate funds for the government expenditure in 2025 financial year has been presented to the Parliament by Prime Minister Dr. Harini Amarasuriya. Accordingly, the second reading (Budget Speech) of the Appropriation Bill is scheduled to be held on February 17 and the second reading debate is scheduled to be held for…
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,…
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