In a historic move to empower the agricultural sector and strengthen the export economy, President Ranil Wickremesinghe unveiled the “Urumaya” Freehold Deed Program during the first phase of the public awareness campaign for the 2024 budget proposal. The President emphasized that this program is a tribute to the farmers who have been the backbone of…
“Despite external and internal setbacks, BOI achieved 1.8 Billion in total investments with signed and approved projects with FDI Projects of U$ 1.5 Billion” State Minister Dilum Amunugama The baseline forecast is for global growth to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024, well below the…
The global apparel and textile giant, MAS Holdings, announced the resounding accomplishment of its subsidiaries, MAS Active Trading (Pvt) Ltd and MAS Intimates (Pvt) Ltd, at the distinguished Presidential Exports Awards for 2021/22 and 2022/23. In recognition of the company’s contribution to Sri Lanka’s export sector, MAS Active (Active and KREEDA divisions) secured Sri Lanka’s…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 23 November 2023, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis points (bps) to 9.00 per cent and 10.00 per cent, respectively. The Board…
Plans to establish Agro – Technology University in Sri Lanka. In a significant and forward-looking speech at the 25th Presidential Awards of the Export Development Board (EDB), held Thursday at the Bandaranaike Memorial International Conference Hall (BMICH), President Ranil Wickremesinghe outlined a comprehensive plan to revitalize Sri Lanka’s agricultural sector for export, acknowledging past challenges…
One of Sri Lanka’s premier apparel solutions provider, Brandix Apparel Private Limited, has taken the pioneering step to adopt Copilot for Microsoft 365, a powerful generative AI service that combines the power of large language models (LLMs) with organizational data from Microsoft 365. By integrating generative AI capabilities, Brandix aims to optimize operational excellence, revolutionize…
Ceylon Tobacco Company (CTC) has issued the following public disclosure with the Colombo Stock Exchange (CSE) with regard to the pending legal matter: 23rd November 2023 Mr. Renuke Wijayawardhane Chief Regulatory Officer Colombo Stock Exchange 04-01, West Block, World Trade Centre Echelon Square, Colombo 1. Dear Sir, CLARIFICATION ON PENDING LEGAL MATTER We address…
The China proposed Belt and Road Initiative (BRI) has brought the vision of “heart connectivity” to reality, and it is a path to common development, multiple ambassadors and officials from BRI partner countries said on Wednesday during a roundtable held in Fuzhou, East China’s Fujian Province. “The BRI has brought changes in the mind of the world,” said Bishnu…
Working parents in Batticaloa, Sri Lanka can now access high-quality early childhood development and childcare options with the opening of St Mary’s Montessori House of Children and Day Care Center, supported by the International Finance Corporation (IFC), government of Australia, Commercial Bank of Ceylon (CBC) and Sarvodaya. Developed under the Women in Work program, a…
Colombo International Container Terminals (CICT) has entered into a milestone collaboration agreement with the University of Moratuwa (UoM), creating a broad framework for a closer strategic alignment of academia and the logistics and engineering industries. A Memorandum of Understanding signed by the two entities outlines the parameters of a partnership that will encompass placement of…
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