Understanding the importance of fathers playing a key role in the family after a newborn or newly adopted child, software development company Ascentic with offices in Sweden recently made history in Sri Lanka’s corporate sector by introducing a four-month paternity leave to its employees. This is a landmark milestone in the company’s efforts in embracing…
The Hambantota International Port Group (HIPG) signed a Memorandum of Understanding (MoU) with Xiamen King Long United Automotive Industry Co., Ltd (King Long) in Fujian China, last week. This is a direct result of the investment promotion in Fujian, led by the Sri Lankan Ambassador in China Dr. Palitha Kohona and HIPG’s investment promotion team…
Pure Ceylon Tea, authentic Sri Lankan cashew and spices attracted large number of visitors to the Sri Lanka stand at the World Food Istanbul Trade Fair which was held from 09 to 12 September 2021 in Istanbul. The Embassy of Sri Lanka in Ankara organized B2B meetings through virtual platform for the Sri Lankan companies which displayed…
The Asian Development Bank (ADB) lowered its 2021 economic growth outlook for developing Asia, amid continuing concerns over the coronavirus disease (COVID-19) pandemic. ADB forecasts growth of 7.1% this year, according to an update of its flagship economic publication, Asian Development Outlook (ADO) 2021. That compares with a projection of 7.3% in April. The growth outlook…
The Immigrants & Emigrants (Amendment) Bill, which seeks to encourage foreign investors to extend the validity of visas to five years was considered by the Ministerial Consultative Committee on Defence Wednesday (22). Accordingly, the Committee agreed to present it to Parliament for a second reading. The Consultative Committee on Defence chaired by Hon. Chamal Rajapaksa,…
NEW YORK–(BUSINESS WIRE)–New Fortress Energy Inc. (NASDAQ: NFE) (“New Fortress”) and The Government of the Democratic Socialist Republic of Sri Lanka (“GOSL”) jointly announced (21) that they have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310 MW Yugadanavi Power Plant based in Colombo, along…
Sri Lanka Tourism will be launching the second installment of the Couch Safari series with the live streaming of Wilpattu National Park to a global audience. The Tourism Authorities have been stratgically positioning the Island as a destination offering a multitude of immersive experiences and the introduction of the “virtual safaris’ initiative showcasing awe-inspiring National…
Sri Lanka’s merchandize exports in August 2021 recorded an increase of 14.4 % to US$ 1,083.56 Mn as compared to US$ 947.2 Mn recorded in August 2020 as per the data released by the Sri Lanka Customs. Export Development Board (EDB) Chairman, Suresh de Mel, commended the exporters and said it is remarkable to see…
The Colombo Stock Exchange (CSE) and University Canada West (UCW) successfully concluded a webinar on the theme ‘How the Financial Market evolved through the pandemic’. The webinar attracted over 60 participants and included insights from Canadian and Sri Lankan experts. The virtual event is one of the collaborative programs organized by the two organizations that…
Bloomberg – China’s central bank increased its injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets. The People’s Bank of China injected 120 billion yuan ($18.6 billion) into the banking system through reverse repurchase agreements, exceeding the 30 billion yuan of maturities on…
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