The European Union (EU) has allocated 4 million Euro (approximately 1,5 billion rupees) in grants for fertilizers, seeds, and training to the most vulnerable farmers, as a response to the agriculture and food security crisis in Sri Lanka. These funds will be implemented by the Food and Agriculture Organization (FAO) in Sri Lanka. The action…
KARACHI, PAKISTAN, Feb 7 (Reuters) – Alibaba Group subsidiary, Daraz Group, an e-commerce platform, is reducing its workforce by 11% to prepare for the ‘current market reality’, the group’s CEO Bjarke Mikkelsen said in a letter to employees shared on the company website. Mikkelsen cited a difficult market environment, with a war in Europe, huge…
Sri Lanka has the potential to establish the green economy, specially by way of renewable energy, said President Ranil Wickremesinghe addressing a High-Level event on Strategies and Actions to Accelerate Sri Lanka’s Transition to a Green Growth Pathway, held at the Grand Ballroom, Hilton Colombo Monday (06). He said further that the Sri Lankan Government…
Kelun Lifesciences Pvt. Ltd, one of the largest pharmaceutical manufacturing facilities in Sri Lanka located at the Kandy Industrial Park., fulfils 40 per cent of total demand for saline in the country and has saved over Rs. 1.5 Billion through the manufacture of saline locally since 2017. This was revealed during an official visit to…
Sri Lankan IT Innovations Fly High at Japan IT Week Osaka, 17th -20th Jan 2023 Sri Lanka is well known for its technology enabled services. Despite being a small country in South Asia, the tech innovations of the country is chosen by many global clients as their technology partner or offshore service delivery destination. Along…
Top-line growth of 15% PAT amounted to Rs. 2.7 Bn, an increase of 27% with ROE of 25%, Recurring EPS 12.85 PBT stands at Rs. 4 Bn Ranked as the second-largest in the life insurance market Company paid claims of Rs. 8.3 Bn Softlogic Life recorded a superior full year performance in a crisis-affected business…
Amalean: JAAF’s credibility enabled ease of doing business in an unprecedented socio-economic fabric The Joint Apparel Association Forum (JAAF), the apex body that guides Sri Lanka apparel towards its ultimate goal of being the world’s number one apparel sourcing destination, held its 19th Annual General Meeting recently, re-appointing industry veteran Sharad Amalean as Chairman. It…
Reuters – Shares of C3.ai Inc, BigBear.ai and SoundHound AI extended a rally on Monday as artificial intelligence becomes a new buzzword on Wall Street with the viral success of ChatGPT chatbot, attracting interest from retail punters. Software firm C3.ai (AI.N) rose 11%, analytics firm BigBear.ai (BBAI.N) jumped nearly 21% and conversation artificial intelligence company SoundHound (SOUN.O) surged 40%. Tickers for…
TikTok is an entertainment platform powered by the creativity, self-expression, and heart that creators put into making authentic content. In order to support creators on the platform, TikTok announced an updated system for account enforcement, which aims to facilitate a smoother experience on TikTok while creating content. TikTok’s Community Guidelines establish and explain the behaviours…
Mercia Rubber Products, Colombo 02 was founded by the late Sam Wijesekera in 1910. During the British Raj on one occasion the Galle Face hotel had not allowed the late Muhammad Macan-Markar of Galle to enter the hotel as he was clad in a sarong. That day Mr. Macan-Markar had decided to build a building…
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