National Development Bank PLC, Sri Lanka’s fourth largest listed bank commenced the financial year on a positive note, with resilient performance for the first quarter of the year ended 31 March 2024. NDB’s Director/ Chief Executive Officer Mr. Kelum Edirisinghe commented that the Bank continued to face challenges on relatively low credit demand due to…
This month holds a significant milestone as Siddhalepa, the globally acclaimed Ayurveda-based wellness brand, unveils its presence in the Middle East, particularly in the United Arab Emirates. This auspicious occasion celebrated on May 9, at the Pullman Hotel, Diera, Dubai, signifies a new era of holistic wellness in the region. The launch event commenced with…
In a landmark move aimed at propelling Sri Lanka’s export sector to new heights, the Sri Lanka Export Development Board (SLEDB) and People’s Bank have entered into a strategic partnership. The collaborative effort was cemented through the signing of a Memorandum of Understanding (MOU) in Colombo. This partnership endeavors to invigorate the country’s export landscape…
AI-first set of services, offerings, and solutions will guide organizations through fast-moving genAI-powered transformations Virtusa Corporation, a global provider of digital strategy, digital engineering and IT services and solutions, today announced the launch of Virtusa Helio, a new suite of platforms, accelerators, and consulting services that empowers organizations to leverage genAI effectively in their digital…
Fitch Ratings: Fitch Ratings believes that policies designed to support exchange rates are unlikely to pose significant near-term risks to the credit profiles of APAC investment-grade sovereigns, but any deterioration of official reserve buffers could pose greater risks to vulnerable ‘frontier markets’ in the region. A number of APAC governments have recently demonstrated concern about…
Reuters – Melinda French Gates is leaving the charitable foundation she co-founded with former spouse Bill Gates more than 20 years ago and will get $12.5 billion for her own work to uplift women and families, she said on Monday. The billionaire benefactors parted ways in 2021 after 27 years of marriage but had pledged to continue…
Sadaharitha Group, the pioneering force in Sri Lanka’s commercial forestry industry, proudly announces the expansion of its global operations by exporting agarwood-based products to the United Arab Emirates (UAE). This milestone marks a strategic collaboration with Alweena Perfumes, a distinguished premium perfume brand based in the UAE. Since its inception in 2002, Sadaharitha Group has…
The Colombo Stock Exchange (CSE) and the United States Agency for International Development (USAID) collaborated on a forum to provide small and medium sized enterprises (SMEs) in southern Sri Lanka with insights into opportunities to raise capital through the CSE. Held recently at the Weligama Bay Marriott Resort & Spa, the issuer forum titled “Redefining…
Minister of State for Finance Dr. Ranjith Siyambalapitiya has said that the government has already taken steps to remove the tax on special trade items and is ready for wide-scale negotiations if any party has problems in this regard. In his continued speech- Although many people have been expressing various opinions about the Sugar tax…
With the intention of supporting Sri Lanka’s healthcare system by ensuring increased access to emergency healthcare services, the CSE adopted two ambulances for the 1990 Suwa Seriya Foundation. This is in response to the programme, ‘Adopt an Ambulance’ which was initiated by the Board and Management of the 1990 Suwa Seriya Foundation. The two ambulances…
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