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Government pledges support for spice industry revival
President Ranil Wickremesinghe, called for a comprehensive program to revive the country’s spice industry, which was once a major source of income. Speaking at the 19th Annual General Meeting of the Spice Council, he urged them to prepare a proper plan for the revival of the industry and said that the government is ready to […]
”; Outlook Negative
Fitch Ratings has downgraded Sri-Lanka based Hela Apparel Holdings PLC’s National Long-Term Rating to ‘BB+(lka)’, from ‘AA- (lka)’. The Outlook is Negative. The downgrade follows the sharp deterioration in Hela’s financial profile following the apparel manufacturer’s significant adjustment of financial accounts from the interim accounts during its annual audit for the financial year ended March […]
Sri Lanka’s Female Migrant Workers: Flying Abroad on Borrowed Time
By Manisha Weeraddana In a small roadside hut in Nattandiya, Asoka Malini, a returnee migrant worker, spends her days with a handful of vegetables. She worked for 6 years in Saudi Arabia as a housemaid and a care worker, earning a monthly salary of LKR 20,000. As a mother of two, Asoka now faces an […]
John Keells Holdings PLC interim financial results for 2Q 2023/24
Summarised below are the key operational and financial highlights of our performance during the quarter under review: • During the quarter under review, the Group’s businesses, except for Transportation and Property, recorded growth in profitability. • Group EBITDA at Rs.8.06 billion in the second quarter of 2023/24 is a decrease of 13% against Group EBITDA […]
9th Regional dialogue on biodiversity finance in Sri Lanka features new opportunities
A sustainable wonder to the world, Sigiriya is one of the most valuable historical monuments in Sri Lanka and deserving of its inscription as a UNESCO World Heritage site since 1982. Sigiriya is also where another landmark knowledge exchange on biodiversity finance takes place. Reversing the global decline in biodiversity by 2030 requires a budget […]
‘s human development
The Asia-Pacific region is lurching towards an era of unmet aspirations, worsening inequalities, and a steady erosion of democratic spaces. Rising global tensions, new technologies, growing polarization, and existential threats linked to climate change threaten to disrupt improvements in well-being the region has seen in past decades, says a new report from the United Nations […]
DFC Commits Half Billion Dollars to Port Infrastructure in Colombo, Sri Lanka
The U.S. International Development Finance Corporation (DFC) today announced it has committed more than half a billion dollars to support the development of a deepwater shipping container terminal in the Port of Colombo, Sri Lanka, that will provide critical infrastructure for the South Asian region. The new terminal reflects DFC’s commitment to financing high-quality infrastructure […]
IMF Executive Board Approves a Proposal to Increase IMF Quotas
The IMF Executive Board approved today a proposal to be considered by the Board of Governors to conclude the 16 th General Review of Quotas (16 th Review) with a significant increase in quotas. The proposal follows the guidance from the International Monetary and Financial Committee (IMFC) at the 2023 Annual Meetings. “Concluding the 16 th Review with a quota increase will help preserve a […]
OpenAI ChatGPT-4 Turbo Event: Everything Revealed in 3 Minutes
OpenAI CEO Sam Altman reveals an update to the company’s popular generative AI software with the new GPT-4 Turbo.
United States International Development Finance Corporation CEO Scott Nathan Visit to Sri Lanka
U.S. International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan will visit Colombo to participate in a launch event for a new DFC investment at the Port of Colombo that will provide critical infrastructure for the South Asian region. CEO Nathan will also participate in a signing ceremony for DFC’s investment commitment to […]