The year 2023, marked a key milestone for Union Bank with CG Capital Partners Pte. Ltd., indirectly acquiring the majority shareholding through its ownership in Culture Financial Holdings Ltd. CG Capital Partners Pte. Ltd., is an affiliate company of the international powerhouse CG Corp Global (CG). The improved macroeconomic outlook during FY2023 positioned Union Bank…
In a bid to enhance collaboration and strengthen bilateral relations between Sri Lanka and France, SLASSCOM and the Sri Lanka France Business Council (SLFBC) have signed of a Memorandum of Understanding (MOU) with a central emphasis on advancing trade, facilitating market access and encouraging investments in knowledge and innovation solutions between the two nations. The…
BYD’s high-end brand YANGWANG, unveils its first pure electric supercar model U9, priced at 1.68 million RMB, and will start delivering in this summer. The YANGWANG U9 reaches a top speed of 309.19 km/h and can sprint from 0 to 100 km/h in just 2.36 seconds. The YANGWANG U9 is powered by two core technologies,…
Women possess potential to significantly contribute to the nation’s economic development – Says President acknowledging the outstanding achievements of women in business at the WCIC Awards. President Ranil Wickremesinghe underscored the on-going efforts to nurture female entrepreneurs capable of adapting to the country’s economic transformation. The President highlighted the significant role women entrepreneurs can play…
Softlogic Life, recorded robust FY23 performance, posting Gross Written Premium (GWP) of Rs. 26.3 Bn for the period ended 31st December 2023, with an increase in top-line growth of 14% versus the past year and compared to industry growth of 12%. The Company has stood firmly with its policyholders in the face of challenging macroeconomic…
Adani Green Energy (Sri Lanka): Paving the Path to a Sustainable Future In a groundbreaking stride towards a greener tomorrow, Sri Lanka Sustainable Energy Authority (SLSEA) has approved to grant the Energy Permit to Adani Green Energy (Sri Lanka) Limited for its monumental $355 million, 234MW Pooneryn Wind Energy Power Project, nestled in the picturesque…
Reuters – South Korea’s market watchdog chief warned that companies could face penalties for failing to boost shareholder returns in the long run, signalling a tougher approach after a reform package to spur voluntary efforts was met with market disappointment. “Authorities are discussing various measures to deal with firms failing to meet certain criteria regarding…
Reuters – International Monetary Fund chief Kristalina Georgieva said on Tuesday she wants to shine a spotlight on the timelines and predictability of debt restructuring processes at the next meeting of the Global Sovereign Debt Roundtable in April. Georgieva told Reuters she hoped to make progress on the issue when the roundtable – which includes…
The Colombo Stock Exchange (CSE) organized a forum titled “Redefining the Trajectory of Your Business” in collaboration with the U.S. Agency for International Development (USAID) CATALYZE Sri Lanka Private Sector Development (PSD) Activity. Held on February 12th, 2024, at North Gate Hotel – Jaffna, the event aimed to provide small and medium enterprises (SMEs) with…
New Loan Program Tailored for Small and Medium Enterprises Unveiled – Minister of Justice, Prisons Affairs, and Constitutional Reforms Dr. Wijeyadasa Rajapakshe. Dr. Wijeyadasa Rajapakshe, the Minister of Justice, Prisons Affairs, and Constitutional Reforms, disclosed plans to introduce an amendment concerning the temporary suspension of Parate execution, indicating its imminent presentation to Parliament. This proposed…
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