Chongqing Airlines recently announced a new international route from Chongqing to Colombo and Male starting June 24, marking its first use of the fifth freedom of the air. The fifth freedom of the air, also known as third-country transportation rights, allows an airline to transport paying passengers between foreign nations as part of flights originating…
Reuters – Malaysia plans to build Southeast Asia’s largest integrated circuit design park and will offer incentives including tax breaks, subsidies and visa exemption fees to attract global tech companies and investors, the government said on Monday. Malaysia is aiming to turn Kuala Lumpur into a regional digital hub, with the goal of being among…
State of the Budget Report estimates 14% shortfall in revenue against budget projection Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’. The State of the Budget Report…
The Ambassador for France in Sri Lanka, Jean-Francois Pactet visited the Hambantota International Port (HIP) recently, for a tour of the port and to explore possible business opportunities for French companies. Tissa Wickremasinghe, COO of HIPG met with the embassy delegates, and at a discussion with the Ambassador, outlined the port’s 5 core areas of…
In an effort to support young entrepreneurs in agriculture, the Sri Lanka Agripreneurs’ Forum (SLAF), a prominent agricultural business association in Sri Lanka, is collaborating with the United States Agency for International Development (USAID) to organize the Agcelerator Bootcamp. The Agcelerator Bootcamp, hosted by SLAF and supported by USAID Catalyze Sri Lanka Private Sector Development…
While SL was still a British colony legendary Sri Lankan Engineer T.S. Jinasena (of Jinasena Engineering est. 1905) assembled the first ever racing car in SL (The Magpie) & became the first Sri Lankan to set a record at the ‘Mahagasthota’ Hill Climb (1939). With support from his sons Nihal, Rohan, Ranjith & Tissa he…
Fitch Ratings – Positive US data in 1Q24 have helped to improve Fitch Ratings’ full-year global economic outlook, but have also raised the prospects of a ‘no-landing’ scenario and heightened interest rate uncertainty. In addition, key risks to global credit from commercial property, geopolitics and China’s real estate market remain, which we highlight in a…
The Ministry of Foreign Affairs and the International Organization for Migration (IOM) – the UN Migration entity, on 18 April 2024, facilitated the voluntary return of eight (8) Sri Lankan migrants who were trafficked for forced criminal activities in the cyber scamming compounds in Myanmar. The Sri Lankan migrants have been forced into various cyber…
The Commercial Bank of Ceylon has announced the integration of the Department of Commerce (DOC) with ‘ComBank Digital’ enabling online payments for services via LankaPay. As a result, businesses or individuals can now make secure real-time online payments for services such as registration of exporters, issuance of certificates of origin and other facilities offered by…
National Development Bank PLC, a leading financial institution committed to promoting gender equality and diversity, proudly announces its achievement of the Economic Dividends for Gender Equality (EDGE) certification for the third certification cycle. This prestigious recognition underscores NDB’s ongoing dedication to creating an inclusive workplace and its commitment to fostering gender equality across all levels…
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