According to the latest Kantar BrandZ Most Valuable Global Brands 2024 report, BYD has successfully retained its position within the Top 10 global automotive brands for the second consecutive year, with a brand value exceeding US$10 billion. As a global company operating across four major industries—automotive, rail transit, new energy, and electronics—BYD has established a…
The Board of Directors of Softlogic Life Insurance PLC has announced a share repurchase program aimed at enhancing capital management and optimizing shareholder value. The decision, made on June 11, 2024, will see the company offer to purchase up to 58,593,750 shares at Rs. 102.40 per share, representing a total value of up to LKR…
The 25 highest-value expenditure proposals in the budget speech for 2023 had a total allocation of LKR 49.3 billion. But for proposals to the value of 43.8 billion (89%) the government was not able to provide information on progress, according to the annual evaluation done by Verité Research. The state of Information In 2022, progress…
The Executive Board of the International Monetary Fund (IMF) completed the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about US$336 million). This brings the total IMF financial support disbursed so far to SDR 762 million (about US$1 billion).[1] The Executive Board also concluded the 2024…
Currently, institutions providing money transfer services in Sri Lanka such as banks and non-bank financial institutions, are regulated by the Central Bank of Sri Lanka (CBSL) or other relevant authorities to ensure financial system stability. However, some entities providing similar services operate outside the formal system, potentially disrupting the money transfer system and not being…
The Colombo Stock Exchange’s (CSE) implementation of the shortened settlement cycle for equity trades has been executed seamlessly with the first settlement under the T+ 2 cycle taking place on 12th June 2024, marking a significant milestone in Sri Lankan Capital Market operations. Investors have experienced swift payment processing, receiving their funds within two days…
Reuters – U.S. technology firm Apple has become the first brand to cross $1 trillion in brand value, a 15% jump from last year, a global ranking by Kantar’s BrandZ showed on Wednesday. The iPhone maker retained its crown as the world’s most valuable brand for the third straight year in 2024, followed by Alphabet’s Google at…
The Planters’ Association of Ceylon (PA) confirmed that it has no option but to continue to oppose the sudden Wages Board decree to increase the fixed wage of tea and rubber sector workers by an unprecedented 70% on account of a lack of due process and unaffordability, with the matter being taken up for consideration…
The government of Sri Lanka and UNDP host an inaugural dialogue in light of ongoing economic recovery efforts The United Nations Development Programme (UNDP) in Sri Lanka, in collaboration with the Ministry of Finance, Inland Revenue Department, University of Moratuwa, and the National Innovation Agency of Sri Lanka co-convened the first-ever National Tax Dialogue to…
The eagerly anticipated 11th annual CFA Society Sri Lanka Capital Market Awards is scheduled to be held on Tuesday, 18 June 2024, at the Oak Room, Cinnamon Grand, Colombo. The CFA Society Sri Lanka Capital Market Awards has been a flagship event in the CFA Society Sri Lanka calendar since its inception in 2012, and…
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