Further expanding its footprint in the fast-growing food and beverage business, Softlogic Holdings Group has taken over the global brand Subway’s franchise in Sri Lanka. The move is via diversified blue chip’s fully owned subsidiary Softlogic Restaurants Ltd. It has entered into a joint venture and management agreement last week for the development and operation…
Building on the USAID Administrator Samantha Powers’s recent visit, US Ambassador to Sri Lanka Julie Chung announced today that the United States, through USAID, will provide an additional estimated $65 million (more than 23 billion Sri Lankan rupees) in assistance to Sri Lanka over a five-year period. The assistance falls under the Development Objectives Assistance…
Gautam Adani’s wealth surged to make him the second richest man in the world, led by a sharp rally in the Adani Group stocks. Adani Group’s Chairperson and Indian billionare Gautam Adani surpassed Amazon’s Jeff Bezos to become the world’s second richest person. He is now only behind Tesla CEO Elon Musk, who remains the world’s richest man with…
Due to a computer system breakdown, services of the Verification and Attestation units of the Consular Affairs Division of the Ministry of Foreign Affairs, Colombo 01 and its Regional Offices in Jaffna, Trincomalee, Matara, Kandy, Kurunegala, will be suspended until further notice. The system repairs are underway and the public will be notified once the…
The Albatross Golf Resort Digana, Kandy by The Clarks is in close proximity to a 18 hole Golf Course with breathtaking views of the hills and the Victoria reservoir The Clarks Hotels and Resorts strengthens its footprints in Sri Lanka by opening The Albatross Golf Resort in Kandy. They are aiming to promote the country…
Sets itself the ambitious mission of raising USD 1.5 million in 90 days to secure the futures of 100,000 children in need In Sri Lanka today, many families are struggling to provide the basic needs of their children and committing their limited resources for educational expenses is becoming increasingly difficult. According to a recent needs assessment…
FAO Representative for Sri Lanka and the Maldives, Vimlendra Sharan and the Secretary to the Ministry of Agriculture, Rohana Pushpakumara, in the presence of the Hon. Minister for Agriculture, Mahinda Amaraweera, signed a Memorandum of Understanding (MoU) today regarding the beneficiary selection and distribution of fertilizer to paddy farmers in Sri Lanka. As the Food…
Issuing a communiqué, on releasing National Accounts Estimates, the Sri Lanka’s GDP contracts 8.4% in Q2 2022 (DCS) states that the year on year GDP growth rate for the second quarter of 2022 has been estimated as 8.4 percent of negative growth rate, against the value reported in the same quarter in the year 2021. Further,…
Bloomberg – Sri Lanka’s economy likely shrank the most in two years amid a debt crisis that triggered a default and widespread protests that brought the nation to a standstill leading to the ouster of the president. Gross domestic product probably fell 10% in the three months to June from a year ago, according to…
Further committing to its nation-building efforts, Lina Manufacturing – the pharmaceutical manufacturing segment of Sunshine Healthcare Lanka (SHL), recently delivered its first order of 100% locally formulated and manufactured Metered-Dose Inhalers (MDIs) to the Ministry of Health (MoH). Delivered through the Medical Supplies Division of the MoH, the consignment was handed over to Dr. D….
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