The latest venture undertaken by BONDVILLE MANUFACTURING (PVT) LTD to set up a new factory in the Gonapola area to manufacture bonded garments for export purposes, is to break the shackles of the sewing techniques of using needles and thread as the main joining method and thus, going into bonding techniques to join fabric panels….
A milestone in industry – academia collaboration was reached recently when Teejay Lanka PLC extended its partnership with the University of Moratuwa for two more years, a period that will encompass the 10th anniversary of the relationship. The decade-long collaboration between the Sri Lanka’s first multinational textile manufacturer and the country’s largest provider of manpower…
The Hambantota International Port (HIP) has benchmarked their Lost Time Accident (LTA) Campaign, with the port’s Energy services department (ENS) successfully achieving their targeted 200,000 man hours during the 1st week of October. An important milestone in creating confidence amongst customers and in the market, particularly in the Oil and Gas sector, where safety is…
Minister of Foreign Affairs, Ali Sabry, met with Presidents, Secretaries General, senior officials and business leaders representing a large number of export oriented organizations and chambers of commerce on 12 October, 2022 to discuss and to expound the opportunities and potential for exporters as well as the challenges that they confront in exporting goods and…
Reuters – The International Monetary Fund warned on Tuesday that colliding pressures from inflation, war-driven energy and food crises and sharply higher interest rates were pushing the world to the brink of recession and threatening financial market stability. In gloomy reports issued at the start of the first in-person International Monetary Fund and World Bank…
Sri Lanka Crisis: IMF had earlier announced that it will provide the island nation with a loan of about USD 2.9 billion over four years, under a preliminary agreement to help the bankrupt island nation tide over its worst economic crisis. IMF’s Deputy Managing Director Gita Gopinath has met Sri Lanka’s junior minister of finance…
The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Mrs. K M A N Daulagala, Assistant Governor and the Secretary to the Monetary Board, to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 07 October 2022. Mrs. K M A N Daulagala…
WindForce PLC, the leading renewable energy producer in Sri Lanka marks yet again another commemorable milestone with the 10MW agrovoltaic plant, Solar Universe. The plant was commissioned on the 28th of September and was officially opened by Hon. Kanchana Wijesekera, Minister of Power and Energy, Sri Lanka, on the 11th of October. The construction of…
Reuters – Sri Lanka will remain a middle-income country but request the World Bank to grant it some loans generally offered to poorer nations, the president’s office said on Tuesday, clarifying a cabinet spokesperson’s earlier comments on the matter. The island nation of 22 million is facing its worst economic crisis in more than seven…
The government stated that Sri Lanka will remain a middle-income country. Sri Lanka no longer qualifies for International Bank for Reconstruction and Development (IBRD) loans due to a downgrade of the country’s credit rating. Therefore, the Cabinet approved a proposal yesterday (10) to request the World Bank to grant the country eligibility to obtain loans…
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