Reuters – R.M.R Lenora stood in a snaking queue outside Sri Lanka’s Immigration and Emigration Department headquarters for two days last week, hoping to get a passport and, with it, a chance to leave a country wilting under an economic crisis. A garment worker, 33-year-old Lenora decided to apply for a job as a maid…
The United States announced today that it will provide $6 million in emergency assistance to address the needs of marginalized and vulnerable communities impacted by Sri Lanka’s economic crisis. This new funding will also provide technical assistance to the Government of Sri Lanka as it implements economic and financial reform measures to stabilize the economy,…
The United States continues to promote sustainable energy and economic growth in Sri Lanka. On June 15, U.S. Ambassador to Sri Lanka Julie Chung attended a signing ceremony for an agreement that will provide technical assistance to VEGA Innovations to help them further develop Sri Lanka’s electric vehicle sector. The agreement, to be funded by…
The Committee on Public Accounts held recently (08) drew special attention to the quantity of ethanol imported for use in Sri Lanka and the lack of proper regulation of importing institutions. The Import and Export Control Department officials were instructed to submit a report to the Committee within two weeks containing the procedure for issuing…
University of Moratuwa (UoM) and Dhammika & Priscilla Perera Foundation (DP Foundation) signed a Memorandum of Understanding (MoU) on 2nd of June 2022 to facilitate open online course development and delivery at the Certified Associate in Project Management (CAPM) level of the Project Management Institute, USA. The objective of this initiative is to provide opportunities…
Virtusa Corporation, a global provider of digital strategy, digital engineering, IT services and solutions that help clients change and disrupt markets through innovation engineering, announced the appointment of Naresha Supramaniam as its new Country Head for Sri Lanka. Naresha’s latest appointment is in addition to his current responsibility as Business & Revenue Head of Virtusa’s…
The Federal Reserve raised its key short-term rate by 0.75%. It’s the biggest hike in 28 years as the Fed tries to tamp down inflation by raising borrowing costs. The central bank signaled more rate hikes may be coming in 2022. (USA TODAY) – The Federal Reserve rolled out the heavy artillery in its bid…
Sri Lanka is highlighted in the world’s paramount report on enriching startup and economic growth – ranking as a Top 5 Global Ecosystem and #2 Asian Ecosystem in Affordable Talent. The 2022 Global Startup Ecosystem Report (GSER) by Startup Genome was launched today at London Tech Week. The GSER is the world’s most comprehensive, data-driven…
The Embassy of the United States of America announced today that the U.S. International Development Finance Corporation (DFC) Board of Directors has approved $120 million in new loans to grow and support the Sri Lankan economy. “For seventy years, the United States has provided foreign assistance, loans, and trade opportunities to help grow the Sri…
Axiata Digital Labs (ADL), a subsidiary of the Axiata Group Berhad, and Huawei Technologies (Malaysia) (Huawei Malaysia) have ventured into a partnership on the development of digital transformation solutions in financial technology (FinTech), powered by Huawei Cloud. The collaboration will see both ADL and Huawei Malaysia join forces to explore, develop and market new technology…
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