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Ambassador of Sri Lanka to the Hashemite Kingdom of Jordan, J.A.D.S. Priyangika Wijegunasekara engaged in discussions with the Chairman of the Al-Salt Chamber of Commerce of Jordan, Saad Bazbaz Al-Hayari, on further enhancing trade and economic cooperation. The meeting was held on 09 October 2024. Established in 1883, the Al-Salt is one of the oldest chambers in…
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AVI, Sri Lanka’s premier sports and athleisure brand, has recently opened an exclusive brand outlet at Colombo City Centre (CCC), marking its 12th showroom across the island and further solidifying its leadership in the sportswear industry. To celebrate the launch, AVI is offering an exclusive 20% discount at its CCC showroom until 20 October 2024….
Prima KottuMee Korean Ramen recently partnered with Scope Cinemas to screen BTS member Jeon Jung-kook’s documentary, “I Am Still.” The highly anticipated film drew thousands of fans to Scope Cinemas Multiplex at Colombo City Centre throughout September. To heighten the excitement, Prima KottuMee Korean Ramen hosted engaging games, offering prizes and surprises that gave lucky…
AIA Insurance proudly announces the launch of AIA SaveSmart, the smartest and highly customisable life insurance plan designed to meet the diverse financial needs of Sri Lankans at every stage of life. Whether saving for a child’s higher education or planning for a dream retirement, AIA SaveSmart offers the most flexible and accessible solution tailored…
By Pasan Wijewardana, Cluster Director of Sales and Marketing for Sun Siyam Pasikudah and Sun Siyam Iru Fushi Globally, the tourism industry is shifting towards more personalized, experiential, and sustainable travel. Post-pandemic, travelers are seeking unique experiences that connect them with nature, culture, and wellness. Technology is also playing a key role in reshaping the…
The Curtin Alumni Sri Lanka Chapter recently hosted an engaging Fireside Chat event titled ‘Building Bridges’ at the Curtin Colombo premises. The event, held on September 13, 2024, brought together distinguished speakers and alumni for an evening of insightful dialogue and networking. The panel featured notable speakers including Sophie Gordon, Second Secretary, Development Cooperation, Australian…
RIOCOCO, a true Sri Lankan company and leader in sustainable coir-based horticulture solutions, proudly celebrated a major milestone at the 21st annual International Business Awards, also known as the Stevie Awards, held on October 11, 2024, at the InterContinental Hotel in Istanbul, Turkey. RIOCOCO significantly contributes to strengthening Sri Lanka’s foreign exchange reserves and secured…
OpenAI-powered assistant provides personalized answers on construction materials, regulatory compliance, building plans Simplifies search experience from architectural solutions to detailed product specifications and tailored recommendations Transitioning to a dynamic, interactive platform, Alumex PLC, the No.1 and most trusted Aluminum Extrusion brand in Sri Lanka, has proudly relaunched its official website, www.alumexgroup.com powered by AI, designed…
As Breast Cancer Awareness Month returns this October, Hemas Hospitals is stepping up its commitment with the launch of ‘BreastOber 2024.’ This annual initiative is aimed at educating women on the importance of early detection while improving access to life-saving diagnostic tools. With breast cancer remaining the most common form of cancer among women globally,…
Nawaloka Hospitals PLC, South Asia’s pioneer in AI-driven healthcare, achieved remarkable financial success for the fiscal year ending March 31, 2024. The Group’s revenue surged to Rs. 10 billion, reflecting a Year-on-Year (YoY) growth of 11.54%. The hospital’s Profit Before Tax (PBT) reached Rs. 576.2 million, marking an impressive 178.61% increase compared to the previous…
Launches include the latest ThinkPad X1 Carbon series and P16 Gen 2 IT Gallery Computers (Pvt) Ltd., a prominent player in the IT distribution market since 2011, today unveiled the latest range of productivity laptops from Lenovo, the global technology powerhouse, in Sri Lanka. The showcase included the ThinkPad X1 Carbon series, a popular choice…
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C. W. Mackie PLC recently signed a strategic partnership agreement with the Ministry of Agriculture and Plantation Industries, the Agricultural Sector Modernisation Project, and 2K Agro Products Limited. The project is funded by the European Union (EU). Celebrating a remarkable milestone in a journey that began in 2018. C. W. Mackie PLC has shown a…
South Asia’s First Independently Verified SLFRS S1 and S2 Compliant Report Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has published its 16th Annual Sustainability Report, detailing the company’s Environmental, Social, and Governance (ESG) performance for the financial year from January 1, 2023, to December 31, 2023. This report underscores Dialog’s commitment to sustainability and…
Mr. Mangala Wijesinghe officially assumed duties as the 16th Chairman of the Sri Lanka Export Development Board (EDB) on today (16) at the EDB headquarters. Upon assuming his new role, Mr. Wijesinghe addressed the staff of the Export Development Board: “We should diversify and focus more on high-tech industries like electronics and pharmaceuticals, similar to…
The Sri Lankan government has reported a significant rise in revenue for the first eight months of 2024, with total government revenue, including grants, increasing by 40.5%. This growth amounted to Rs. 2,565.9 billion, a sharp increase from Rs. 1,826.6 billion collected during the same period in 2023. The rise was largely driven by a…
GSCS International Ltd, with a global presence in over 35 countries, offers steady, sustainable, and enduring development as a provider of certification, assessment, audit, verification, inspection, and capacity-building services. GSCS International – Sri Lanka successfully organized the SustainSphere 2.0 program, aimed at innovating tomorrow’s industry through sustainability. Held in Sri Lanka, the event attracted a…
Sri Lanka’s interest payments on both foreign and domestic debt reached Rs. 1,559.7 billion during the first eight months of 2024, according to the Pre-Election Budgetary Position Report 2024 issued by the Ministry of Finance, Economic Development, and Tourism. The report, released under Section 52 of the Public Financial Management Act, highlights a 2.2% increase…
The Chamber of Young Lankan Entrepreneurs (COYLE) recently led a high-profile trade delegation to the Republic of Korea, marking a significant milestone for the Sri Lankan business industry. This visit, commemorating the chamber’s 25th anniversary, aims to strengthen economic ties and open up new business avenues between Sri Lanka and South Korea. Spearheaded by the…
By Himani Vithanage Sri Lanka experienced six consecutive quarters of negative economic growth up to the third quarter of 2023. This downturn has had a direct impact on the labour market, leading to lower wage rates and discouraging workforce participation and skill development. As a result, productivity levels continue to fall, creating a vicious cycle…
Analysis
By Himani Vithanage Sri Lanka experienced six consecutive quarters of negative economic growth up to the third quarter of 2023. This downturn has had a direct impact on the labour market, leading to lower wage rates and discouraging workforce participation and skill development. As a result, productivity levels continue to fall, creating a vicious cycle…
By Priyanka Jayawardena The recent VAT revisions have hit the poorest the hardest, whereas the bottom 10% of income group households now spend about 10% of their income on VAT. The VAT burden has risen by approximately 50%, primarily due to the removal of VAT exemptions on around 100 items. This blog offers potential solutions…
Chinese leaders met two weeks back to set the nation’s economic working plan. Chinese plans to boost the economy with stimulus measures (which lifted the stock market to record highs) were announced last week. Below can be lessons for capitalists & socialists; Economy grew by 5% during Q1&2 in 2024 & market institutions predict a…
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