India and Sri Lanka share ties dating back thousands of years spanning history, culture, trade and commerce. In recent years, the two neighbours have accelerated mutual economic cooperation in a manner that has opened unprecedented opportunities for Sri Lankan businesses to access an $3.7 trillion Indian economy. A key turning point in the economic cooperation…
Driving Economic Growth through Competitive Investment Opportunities, a Priority Focus. President Ranil Wickremesinghe affirmed his commitment to bolstering the nation’s economy through the establishment of competitive investment avenues. He commended the pivotal role played by companies under the purview of the Board of Investment in driving Sri Lanka’s economic growth. Addressing attendees at the Investment…
2,848 MW renewables capacity brought on stream in FY24 Adani Green Energy Limited (AGEL), one of the world’s leading renewable energy (RE) companies, has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW…
BBC – The American pop star entered the Forbes World’s Billionaires List for the first time with $1.1bn (£877m), along with Sam Altman, creator of the AI chatbot ChatGPT on $1bn (£800m). LVMH French luxury goods titan Bernard Arnault and his family topped the chart with an estimated $233bn (£185bn). Forbes said there were a record 2,781…
Reuters – Chinese smartphone maker Xiaomi on Wednesday said it has received more than 100,000 orders for its first car – a sporty electric vehicle called the SU7 – as it began deliveries. “Xiaomi’s car officially debuts, the real revolution in smart cars has officially begun, and China will surely give birth to a great…
The Central Bank of Sri Lanka issued broad guidelines to licensed banks on 28 March 2024, to further strengthen the functions of already established Post COVID-19 Revival Units and reformulate such units as Business Revival Units (BRUs). The enhanced scope of proposed BRUs will facilitate sustainable revival of viable businesses affected by the extraordinary macroeconomic…
Growth in South Asia is expected to be strong at 6.0% in 2024, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka. But persistent structural challenges threaten to undermine sustained growth, hindering the region’s ability to create jobs and respond to climate shocks, says the World Bank in its twice-a-year…
Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual update. Released today, the Sri Lanka Development Update, Bridge to Recovery, highlights that Sri…
In its continuous effort to foster a secure and positive online environment, TikTok has unveiled its latest Community Guidelines Enforcement Report for the fourth quarter of 2023. This release highlights TikTok’s unwavering commitment to transparency, safety, and inclusivity, reflecting its dedication to building trust and ensuring a safe platform for its global community. During the…
Out of the total domestic spends on debit cards, the share of in-store spending is 7 times that of ecommerce. Last holiday season saw over 20% growth in Visa debit transactions vis-à-vis 2022 Visa (NYSE: V), the global leader in digital payments, today announced that Visa debit card spends saw a significant increase of over…
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