The Joint Apparel Association Forum (JAAF) welcomed the recent decision by the Public Utilities Commission of Sri Lanka (PUCSL) to implement a 25.3% reduction in industrial electricity tariffs, parallel to a 27% reduction for domestic customers and a 22.5% overall reduction effective from July 16, 2024. In addition to easing the burden on retail customers,…
Harnessing Foreign Investment Amid Climate and Political Challenges – By Jithendra Antonio Sri Lanka, an island nation rich in history and culture, is grappling with severe economic vulnerabilities. With limited land and finite natural resources, the country faces significant challenges in commercializing these assets. Climate change further exacerbates these issues, casting a shadow over key…
During the 2024 Huawei User Group Meeting (HUGM), Sun Rui, President of Huawei Wireless Solution R&D, launched the Apollo version — the world’s first commercial 5.5G version based on 3GPP Release 18. As the first global standard for 5.5G networks, Release 18 is widely expected to be the critical catalyst that will enable new value…
99x is pleased to announce the launch of OptimaxerAI Web, an innovative platform designed to run AI directly in the browser. This cutting-edge solution is the latest addition to 99x’s AI product family, OptimaxerAI, and is set to revolutionise how users leverage artificial intelligence with its powerful and flexible capabilities for various use cases. Commenting…
The order marks the next milestone on the airline’s long-term strategy, boosting main deck cargo capacity by 30% and providing a long-term solution to the current capacity crunch Emirates SkyCargo, the cargo arm of the world’s largest international airline, has announced a firm order for an additional five Boeing 777 freighters, with immediate delivery between…
Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.6 in June 2024, indicating an expansion in manufacturing activities. All the sub-indices, except for employment, remained above the neutral threshold during the month. The expansion in New Orders and Production was mainly due to the growth in the manufacture of food and beverages sector….
Cable Solutions Limited (CSLK), a leading specialised integrated cable manufacturer in Sri Lanka is firmly focused on anticipating and addressing future technological challenges. As CSLK gears up for its initial public offering (IPO), set to open on the 23rd of July 2024, the company is leveraging its future-facing ethos – which has delivered robust growth…
Dipped Products PLC (DPL), a global leader in the manufacturing of high-quality gloves and a subsidiary of Hayley’s PLC announced the opening of its dedicated sales and marketing office in Mumbai, India. This strategic move is part of DPL’s ongoing global expansion strategy to enhance its presence in key markets. Notably, the new Mumbai sales…
Nikkei Asia – TikTok, the viral short video app owned by China’s ByteDance, is becoming one of the largest e-commerce platforms in Southeast Asia, a market long dominated by local players like Shopee and Alibaba’s Lazada, an annual study released Tuesday showed. The app’s e-commerce platform TikTok Shop increased its gross merchandise volume (GMV) nearly fourfold…
Of the USD 250.9 million expected to be settled from tea exports to Iran for fuel debt, US$ 55 million has been paid so far – Chairman of Sri Lanka Tea Board. A Coconut Triangle established in the Northern Province to improve living conditions in the region – Chairman of CDA. Special program initiated to…
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