Applied Graphite Technologies Corp. (“AGT”) (TSXV: AGT), is pleased to announce that it has purchased the past-producing Queen’s Mine in Sri Lanka. The property is centrally located between AGT’s Dodangaslanda Graphite Properties. The combined properties will be called the Queens Mine Complex (“QMC“). The Queens Mine was reported to be extracting high-grade graphite veins at a rate of 20 tonnes…
Announces Ambitious Education Reform and Collaboration with India for Technological Advancements. President Ranil Wickremesinghe highlighted Sri Lanka’s commitment to agricultural modernization and emphasized the nation’s goal of reducing multi-dimensional poverty. By 2035, Sri Lanka aims to ensure that multi-dimensional poverty does not exceed 10%. While achieving zero poverty is unprecedented, the President acknowledged that even…
Sri Lankans in coastal areas learning at temples entered ‘Scholar-hal’ (Schools) during the Portuguese rule. Class room education introduced by St. John Baptist De LaSalle of France (Patron saint of Teachers) continued with the Dutch & the British as a violence control tool but those marginalized (due to caste & class etc.) got exposed to…
Wavenet, an industry veteran that has been enabling and empowering proven and agile technology to accelerate the digital transformation of the telecommunication industry, unveiled their groundbreaking innovations at the Mobile World Congress (MWC), one of the largest technology conferences, that held its 2024 expo at the Fira Gran Via, Barcelona, Spain, from February 26 to…
Orzone Mineral Water Exports Private Limited recently exported 40 High-cube (HQ) containers of 600 millilitre (ml) drinking water bottles to Sydney, Australia, becoming the first ever Sri Lankan company to do so. The Company has been awarded an order to supply one million 600 ml water bottles to Sydney, Australia, and the recent import marked…
The Cabinet of Ministers has given its approval to amend the National Minimum Wage of Workers Act No. 03 of 2016 to increase the minimum monthly wage and daily wage of all workers in any industry. This was recommended by the tripartite sub-committee of trade unions representing Small- and Medium-Sized Enterprises (SMEs) and employees appointed…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 25 March 2024, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points (bps) to 8.50 per cent and 9.50 per cent, respectively. The Board…
On March 25th, BYD, the world’s leading manufacturer of new energy vehicles and power batteries, became the world’s first automaker to roll off its 7 millionth new energy vehicle, the DENZA N7, which was unveiled at its Jinan factory in China, symbolizing another groundbreaking accomplishment for the brand. BYD rolled off its 7 millionth NEV…
Reuters – Nissan Motor said on Monday it would launch 30 new models over the next three years and aim to raise its global sales by 1 million vehicles while cutting costs to improve profitability. Announcing an update to its medium-term business plan, Japan’s third-largest automaker by sales said it would target an operating profit…
Accordingly, the original credit line of USD 100 million, which is a financial intermediation loan through 10 participating financial institutions (PFIs) to eligible SME subprojects became effective in April 2016. The loan was financially closed in January 2019, 1.5 years earlier than the initial plan. It had exceeded development targets on reaching out to underserved…
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