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Export performance recorded a modest increase in February
The merchandise export performance in February 2024 amounted to US$ 983.7 million, recorded a modest increase of 0.17 % compared to February 2023. Furthermore, export performance in February 2024 increased by 1.3% compared to the preceding month, January 2024. Compared to February 2023, agricultural exports shown a significant increase of 11.82 %, reaching US$ 255.76 […]
Tech investor Dr. Cornelius Boersch reaffirms commitment and future investments in SL
Having invested in the tech sector for thirty years across frontier markets spanning South America to Asia, Dr Cornelius Boersch maintains that all markets exhibit similar dynamics. With this perspective, he first visited Sri Lanka in October 2021, emerging as one of the earliest global tech investors to commit to post-COVID recovery through Mountain Lion […]
Sunshine Holdings PLC announces new leadership appointments
Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) announced that Aruna Deepthikumara, Michelle Senanayake, Dr. T. Sayandhan and Shantha Bandara, who are Executive Committee members of the Group, have been appointed as Executive Directors. Commenting on the appointments, Sunshine Holdings Group CEO Shyam Sathasivam said, “We are excited to announce the elevation of Aruna Deepthikumara, Michelle […]
FitsAir Launches Direct Flights from Colombo to Dhaka, Bangladesh
FitsAir, Sri Lanka’s low-cost airline, is pleased to announce the launch of direct flights connecting Colombo and Dhaka, Bangladesh in April 2024. This move represents a significant milestone in regional aviation, addressing the growing demand for affordable travel options between Sri Lanka and Bangladesh. In light of Bangladesh’s rapidly expanding economy, attracting considerable interest from […]
Commercial Bank integrates an AI-powered Assistant to their Annual Report 2023
March 5, 2024, will go down as a red-letter day for the world’s investor relations community. On this day, Commercial Bank of Ceylon PLC, headquartered in Sri Lanka, integrated an AI-powered Annual Report Assistant (AIPARA) to their Annual Report 2023. It is probably the first of its kind. This innovation addresses a perennial issue and […]
IMF Reaches Staff-Level Agreement on the Second Review of Sri Lanka’s Extended Fund Facility
IMF staff and the Sri Lankan authorities have reached staff-level agreement on economic policies to conclude the second review of the 4-year EFF-supported program and the 2024 Article IV Consultation. Once the review is approved by IMF Management and completed by the IMF Executive Board, Sri Lanka will have access to SDR 254 million (about […]
Microsoft joins hands with Sri Lanka in its journey to becoming unstoppable with AI
In a bid to strengthen commitment and partnership towards the South Asia region, Puneet Chandok, the President of Microsoft India and South Asia, made his inaugural visit to Sri Lanka in March 2024, since taking office in September 2023. Building on the two-decade journey of empowering the people of Sri Lanka through Cloud and AI […]
”’; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka) with a Stable Outlook. This reflects our view that Dialog can maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite slower revenue growth, escalated costs and likely slight higher leverage. Dialog’s rating is […]
Powering the future: Innovations driving electric vehicle revolution
New Energy Vehicles (NEV) are no longer a futuristic vision; they’re rapidly transforming the automotive landscape. This shift wouldn’t be possible without ground-breaking innovations that have addressed key challenges and made NEVs more efficient, safer, and sustainable. Leading the charge in these advancements is BYD, a company proving that electric mobility is not just feasible […]
Opinion: Tax-payers receive bill for SriLankan’s colossal losses: Advocata
The Minister of Aviation, Nimal Siripala de Silva, recently announced that the Government would take over 210 million in dollar loans and 41.4 billion in rupee loans borrowed by Sri Lankan Airlines from state-owned Bank of Ceylon and Peoples’ Bank. Sri Lankan Airlines is bankrupt. No buyer will be prepared to take on both a […]