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…
Union Bank, now partnered by the strength of the global conglomerate CG Corp Global, recently unveiled a new logo that embodies the Bank’s new strategic vision and transformation. Leveraging on the brand’s rich history of over 29 years as a trusted financial services brand in Sri Lanka, the new logo has been designed as an…
The Richard Pieris Group, led by visionary leader Dr. Sena Yaddehige, has evolved into one of the largest and most diversified conglomerates in Sri Lanka. With a 91-year legacy, the Group operates across multiple sectors. Today, the Group is an integral part of Sri Lankan lives and a catalyst for economic progress. From a modest…
Building on the exceptional success of the JAT Pintharoo Abhiman programme, JAT Holdings PLC – Sri Lanka’s market leader in wood coatings and brushes – recently entered into a Memorandum of Cooperation (MOC) with the Sri Lanka Foreign Employment Agency (Private) Limited (SLFEA). The partnership will allow JAT and SLFEA to collaborate towards identifying qualified…
The Sri Lanka – Korea Business Council (SLKBC), of The Ceylon Chamber of Commerce recently hosted a networking evening for Members of the Council, diplomats, government officials and industry representatives to foster collaboration and bilateral cooperation. The Chief Guest Ambassador of the Republic of Korea to Sri Lanka Her Excellency Miyon Lee was accompanied by…
Sri Lanka’s leading value-added eco-friendly coir fibre exporter charts journey towards purpose-led future Hayleys Eco Solutions, Sri Lanka’s leading traditional and value-added exporter of coconut fibre and coco peat-based products and a member of the Hayleys Group announced the launch of “Entwine”, its Environmental, Social, and Governance (ESG) Roadmap for 2030. Derived from the concept…
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