Despite the El Nino-related weather disturbances affecting key agricultural areas globally and the disruptions in the Black Sea stemming from the war in Ukraine, there is encouraging data suggesting further easing in food inflation in the new year. This development comes amid the soaring risks of food riots in emerging markets, as the weakening of…
Prime Lands Residencies PLC, the real estate leader, has announced a change in leadership with Sandamini Perera assuming the role of Executive Chairperson of the Company’s Board of Directors, effective January 01, 2024. She takes over from outgoing co-chairman, Premalal Brahmanage, who has stepped down from the role after nearly 03 years of dedicated service…
BYD Annual Sales Exceeds 3 Million Units BYD has concluded 2023 with record-breaking sales volume, which surpasses the 3 million annual sales target and becomes the global new energy vehicle (NEV) sales champion, for the second year in a row. This year also marks BYD being listed among the global top 10 of car sales…
Billionaire Gautam Adani, Chairperson of Adani Group, reacting to the Supreme Court judgment on allegations levelled by a US short-seller against his conglomerate, said recently that truth has prevailed and his group would continue to contribute to India’s growth story. The Supreme Court on Wednesday ruled that there was no ground to order an investigation…
Conveniently located in the heart of the business district, the second Sheraton Hotel in Sri Lanka is set to be the gathering place where locals and travellers can collaborate, connect and have a sense of belonging. Sheraton Hotels & Resorts, part of Marriott Bonvoy’s portfolio of over 30 extraordinary brands, today announced the opening of…
Fitch Ratings: Economic growth in APAC will generally remain strong in 2024, especially in emerging markets (EMs), supporting sector outlooks across the region, says Fitch Ratings. We expect real GDP to expand by, or above, 5% in India, Indonesia, the Philippines and Vietnam. However, headwinds from slower Chinese growth, weak global demand and higher interest…
Invests Rs 475.97million in expansive photovoltaic panel rooftop to offset consumption from national grid Sri Lanka’s top tyre maker CEAT Kelani Holdings has completed an investment of Rs 475.97 million in a High Tension (HT) metering roof-top photovoltaic panel solar power plant as part of the company’s efforts to reduce the carbon footprint of its…
A proposal to select a prospective investor for the first phase of the development of 61 fuel storage tanks in the Upper Tank area of the China Bay Harbour of Trincomalee was approved at the Cabinet meeting held on Monday (01 Jan.). Accordingly, the Cabinet of Ministers approved the relevant procurement process tabled by the…
The Commercial Bank of Ceylon PLC entered into a fresh Collective Agreement and a Memorandum of Understanding (MoU) with the Ceylon Bank Employees’ Union (CBEU) as one of its first acts of 2024, reaffirming the Bank’s unwavering commitment to ensuring better employee terms and conditions and to maintaining an efficient and productive working environment through…
The Cabinet of Ministers have approved a proposal to announce the Asiri Port City Hospital (Pvt) Company as a primary business of strategic importance through a gazette notification and to grant related exemptions or incentives. Earlier, it was proposed by Asiri Port City Hospital (Pvt) Company to implement a project to develop a hospital within…
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