Reuters – Social media platform X, formerly known as Twitter, said on Tuesday it will test a new subscription model under which it will charge $1 annual fee for basic features. The new subscription termed as “Not A Bot” will charge users for likes, reposts or quoting other accounts’ posts, and bookmarking posts on the…
The Food and Agriculture Organization of the United Nations (FAO), together with the International Fund for Agricultural Development (IFAD) and the United Nations World Food Programme (WFP), marked World Food Day by calling for urgent action towards sustainable and climate-resilient agriculture in Sri Lanka. In a 2021 report by FAO and UN Water, Sri Lanka…
The emerging-market (EM) rating outlook is balanced, but the slump in China’s property market and higher global bond yields are key downside risks, Fitch Ratings says in a new report. The slowdown in China’s property sector and downside risks to its GDP growth add to risks facing EM economies given the impact on global trade,…
Agreement to be signed to provide Huawei’s support for the digitization of Sri Lankan schools. Mr. Simon Lin, Senior Vice President of Huawei technologies and President of Huawei Asia Pacific, announced his company’s readiness to support an annual study program aimed at nurturing software and hardware engineers in Sri Lanka. He mentioned that Huawei has…
During the official four-day visit to China, President Ranil Wickremesinghe attended a prominent investment, trade and tourism forum with a strong focus on fostering future business opportunities. President Wickremesinghe extended a warm invitation to Chinese entrepreneurs, encouraging them to view Sri Lanka as a strategic hub for emerging green and digital economic ventures, highlighting the…
United Motors Lanka PLC, in accordance with Rule 8.1 of the Listing Rules of the Colombo Stock Exchange, has disclosed its acquisition of Dutch Lanka Trailer Manufacturers Limited (DLT). The Share Sale and Purchase agreement, executed on today (17), entails United Motors Lanka PLC’s purchase of 100% shareholding in DLT for a total consideration of…
Renowned for its commitment to cutting-edge technology and innovation, Emirates has launched a new strategy called ‘One Device’ leveraging Apple products, whereby all 20,000 Emirates Cabin Crew receive iPhone 13 or iPad Air configured with custom Emirates apps to improve and streamline passenger service onboard, as well as enhancing the overall crew experience. Emirates has already invested more than AED 32…
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) Ratings of the following insurers and removed them from Rating Watch Negative (RWN). The Outlook is Stable. – Sri Lanka Insurance Corporation Limited (SLIC) at ‘A(lka)’ – Continental Insurance Lanka Limited at ‘A-(lka)’ – HNB Assurance PLC at ‘A-(lka)’ – HNB General Insurance Limited at…
By Dr Nisha Arunatilake Even before the onset of COVID-19, malnutrition stood as a significant driver of multi-dimensional poverty among children in Sri Lanka. Startling data from the Department of Census and Statistics (DCS) in 2019 revealed that one in three children aged 0 to 4 who are multidimensionally poor, are either underweight or stunted….
Economic Policy Choices: From Stabilisation to Growth Sri Lanka has faced a turbulent economic journey in recent years, with 2022 witnessing an unprecedented crisis marked by a staggering 8.7% GDP contraction. The economy slowly but steadily pulled back from the abyss over the course of 2023. Notably, the Sri Lankan rupee has stabilised and even…
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