98 Acres Resort & Spa becomes a feature property for the luxury travel segment to Sri Lanka World Luxury Hotel Awards 2022: 98 Acres Resort & Spa awarded as the number one ‘Luxury Mountain Resort’ in Asia 98 Acres Resort & Spa, a subsidiary of U.H.E. Group, was recently awarded as the Number 1 ‘Luxury…
SL is in a serious economic crisis & it’s a rare opportunity. Typical Sri Lankans may think that the leadership and the population should be always divided. May be it is a result of downloading the West Minister system from above. Most thriving civilisations which didn’t limit its mindset to above including Indian and Chinese…
The World Bank today approved Sri Lanka’s request to access concessional financing from the International Development Association (IDA). This type of financing, which is offered at low interest rates, will enable the country to implement its government-led reform program to stabilize the economy and protect the livelihood of millions of people facing poverty and hunger. The…
Fitch Ratings – World GDP forecasts for 2023 have been revised down again as central banks intensify their fight against inflation and the outlook for China’s property market deteriorates, says Fitch Ratings in its latest Global Economic Outlook (GEO) report published today. Fitch now expects world GDP to grow by 1.4% in 2023, revised down from…
President Ranil Wickremesinghe has appointed a committee consisting of representatives of the public and private sectors of Sri Lanka to work with the multidisciplinary team of the National Dairy Development Board of India to prepare a short, medium and long-term plan to increase local milk production to reduce the country’s dependence on imported milk powder….
The United States officially handed over 9,300 tonnes of urea fertilizer to the Ministry of Agriculture to distribute to more than 193,000 smallholder paddy farmers in Jaffna, Mullaitivu, Mannar, Vavuniya, Anuradhapura, Trincomalee, Batticaloa, and Monaragala districts. The fertilizer, procured by FAO with funding from the U.S. Agency for International Development (USAID), is the first shipment…
Subsidiary of CG Corp Global – CG Capital Partners Singapore to acquire 70.84% of Union Bank Colombo (UBC) Acquisition is Chaudhary’s CG Corp Global’s debut into SL’s financial industry When Nepalese billionaire Binod Chaudhary first made a significant investment in 2001 in the iconic Taj Samudra Colombo through a joint venture with Indian Hotels Corporation…
Marks GRI’s fifth global acquisition in five years Expanding its global footprint and growth trajectory even further, GRI today announced that it had acquired Klumpenaar Industriebanden BV in the Netherlands. Founded in 2010, Klumpenaar Industriebanden BV has been actively engaged in the Material Handling tire aftermarket service and distribution business. The company has grown its…
Ranked as the 24th Best Port in the World United Nations Conference On Trade and Development (UNCTAD) in its new Review of Maritime Transport 2022 has revealed that the Port of Colombo is the highest-performing port in South Asia. The Review of Maritime Transport is a recurrent publication prepared by the UNCTAD secretariat since 1968…
Revenue rises by 40% (YTD) PAT grows by 50% (YTD) WHITE by JAT sees revenues expand by 840% Incorporation of fully owned subsidiary to manufacture and cater to the Bangladesh market Completion of enhancement of R&D facility with state-of-the-art equipment Going from strength to strength, Sri Lanka’s market leader in wood coatings and multinational conglomerate,…
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