The President announces the handover of the “Serin River Park” environmental park in Holuvagoda to the public. President Ranil Wickremesinghe stressed the need to expand the tourism industry beyond coastal areas to strengthen the country’s economy. The President highlighted the significance of the South in driving tourism promotion within the country, particularly outlining plans to…
Rising political polarization and distrust results in gridlock on global challenges Uneven development progress is leaving the poorest behind, exacerbating inequality, and stoking political polarization on a global scale. The result is a dangerous gridlock that must be urgently tackled through collective action, according to a new report released today by the United Nations…
The Ceylon Chamber of Commerce is deeply concerned about the decision by the Cabinet of Ministers to temporarily suspend the parate execution law. While we understand that certain businesses essentially in the SME sector need to be supported in the current economic climate, providing that support in the form of curtailing credit recovery measures is…
Fitch Ratings – Near-term world growth prospects have improved and Fitch Ratings has raised its 2024 global GDP growth forecast by 0.3pp to 2.4% in its latest Global Economic Outlook (GEO) published today. This reflects a sharp upward revision to the US growth forecast to 2.1%, from 1.2% in the December 2023 GEO. The revision…
In a step towards achieving its renewable energy targets, the Ministry of Power and Energy is set to host a significant event—the signing of a Power Purchase Agreement (PPA) for the project Apollo between Ceylon Energy Pte Ltd and the Ceylon Electricity Board. This agreement signals the beginning of a transformative project, the construction of…
SriLankan Airlines and Korean Air have officially activated a new codeshare partnership effective 15 March 2024, presenting enhanced travel options and connections for customers of both airlines travelling between Colombo and Seoul. Richard Nuttall, Chief Executive Officer of SriLankan Airlines stated: “We are delighted to launch our first-ever codeshare partnership with Korean Air, and boost…
Freightos (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for the international freight industry, today announced a partnership of WebCargo by Freightos with Fits Cargo, an innovative carrier that combines a physical airline operation and interline agreements with over 160 airlines. This collaboration enables Fits Cargo to extend its service across WebCargo’s extensive network of…
For the ninth consecutive year, IFC partnered with the Colombo Stock Exchange (CSE) and global partners to ‘Ring the Bell for Gender Equality.’ Aligned with International Women’s Day, the annual global initiative promotes women’s participation in the economy for inclusive and sustainable growth. Increasing women’s economic participation and achieving gender parity in leadership are two…
The capital market regulator, Securities and Exchange Commission of Sri Lanka (SEC) has appointed two experienced and talented professionals to head its HR function and drive the institution’s organisation transformation agenda. The two positions are Director and Assistant Director of HR & Organisation Transformation. The new Organisation Transformation function augments the existing Human Resources department…
Sri Lanka is poised to benefit from the global trend towards electric vehicles (EVs), leveraging its top-quality vein graphite crucial for EV battery manufacturing. The country’s commitment to sustainability and quality standards places it strategically in the non-China graphite export market, boosted by US industrial policies favouring domestic assembly and non-China sources. A new IPS…
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