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…
The U.S. Government, through its development agency, the U.S. Agency for International Development (USAID), is partnering with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Association of Public Finance Accountants of Sri Lanka (APFASL) to strengthen Sri Lanka’s accounting and auditing sectors. This partnership will train approximately 600 public sector…
SriLankan Airlines would like to address the reports currently circulating on media about flight UL 504 avoiding a possible mid-air collision with another aircraft. SriLankan Airlines confirms that its pilots operating UL 504, which departed from London to Colombo on 13 June 2022, were able to safely commandeer the flight without an incident. Contrary to…
The streaming and TV rights for the Indian Premier League – the world’s richest cricket competition – for the next five years have been sold for a record $6.02bn (£5.13bn). BBC – Viacom18, backed by Indian billionaire Mukesh Ambani, secured streaming rights until 2027 for $3.05bn (£2.53bn). Disney-owned Star India retained the TV contract for…
Reuters – Representatives from heavyweight financial and legal advisers Lazard and Clifford Chance arrived in Sri Lanka to kick off the restructuring of over $12 billion in debt, the island nation’s prime minister said on Tuesday. The advisers reached the country a week before a delegation from the International Monetary Fund is expected in Colombo…
Italian retailer sees strong prospects for the South Asian nation’s apparel industry Despite the economic crisis Sri Lanka finds itself in today, Sandro Veronesi, President of Calzedonia, one of Italy’s leading retail chains, has great faith in the resilience of Sri Lanka’s apparel industry. His company has over 13,000 employees in the island nation and…
On June 13, U.S. Ambassador to Sri Lanka Julie Chung attended the signing ceremony for a Memorandum of Understanding (MOU) with the Sri Lankan Department of Agriculture, for a $27 million project that aims to double the milk production of Sri Lankan dairy farmers participating in the U.S. Department of Agriculture’s “Food for Progress” initiative….
TOKYO, June 13 (Reuters) – Japan’s top government spokesperson on Monday issued a fresh warning to markets that Tokyo was concerned about sharp yen falls and ready to “respond appropriately” if needed. The remark, which echoed a joint statement between the government and the central bank released on Friday, came after the Japanese currency fell…
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