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Moody’s & Google Cloud Partner on Generative AI Applications Tailored for Financial Services Professionals
Moody’s Corporation (NYSE:MCO) and Google Cloud today announced a new strategic partnership to explore bringing together Moody’s expertise in financial analysis and Google Cloud’s advanced generative AI (gen AI) technologies to help Moody’s customers and employees leverage new large language models (LLMs) to glean new financial insights and summarize financial data faster. The partnership is […]
”; Outlook Stable
Fitch Ratings has affirmed the National Long- Term Ratings of Sri Lanka-based conglomerate Melstacorp PLC and its subsidiary, Distilleries Company of Sri Lanka PLC (DIST), at ‘AAA(lka)’. The Outlook is Stable. Fitch equalises the rating of DIST, which has a stronger credit profile than its parent Melstacorp, to the consolidated profile of its parent, based […]
President Wickremesinghe meets Chinese President Xi Jinping
President Xi Jinping of the People’s Republic of China stated that China is committed to assisting Sri Lanka in achieving economic stability without any political agenda. He expressed his desire to collaborate closely with President Ranil Wickremesinghe. Furthermore, President Xi Jinping acknowledged that Sri Lanka’s speech at the United Nations General Assembly, delivered by President […]
PUCSL approves Electricity Tariff Revision effective from today
The Public Utilities Commission Of Sri Lanka (PUCSL) has approved the electricity tariff revision effective from Oct 20, 2023, to June 30, 2024. Tariff Structure
IMF Reaches Staff-Level Agreement on First Review of Sri Lanka’s Extended Fund Facility Arrangement
IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported program. Sri Lanka will have access to SDR 254 million (about US$330 million) in financing once the review is approved by IMF Management and IMF Executive Board. “Macroeconomic policy reforms are […]
‘s debt optimization
The Chinese Finance Minister, Liu Kun, has reaffirmed China’s commitment to extend comprehensive support for the implementation of a medium-term and long-term program that is mutually beneficial to both parties and aimed at optimizing Sri Lanka’s debt. The Chinese Finance Minister conveyed this commitment during bilateral discussions held this morning (19) in Beijing with President […]
Advocata’s Bath Curry Indicator recorded a year-on-year increase of roughly 2-pct
Advocata’s Bath Curry Indicator (BCI) which is a price-index that tracks the monthly changes in the retail price of a basket of commonly consumed food items recorded a year-on-year increase of roughly 2% between September 2022 and September 2023 and a month-on-month fall of 1.6% in between August and September 2023. Additionally, the BCI also […]
University Business Link. Connecting Academic Inspirations to Commercial Markets
By Jekhan Aruliah Entrepreneurs turn ideas into business and money. Rubbish rescued from tips make valuable construction materials and fuels. Microwave ovens and matchsticks, accidental discoveries, became huge industries. An annoyingly sticky substance sold as Superglue. Another pathetically weak glue led to Post-It Notes. Antibiotics and Insulin, discovered by chance observation, are multibillion dollar businesses. […]
United Motors to Acquire Dutch Lanka Trailers for LKR700mn
October 17, 2023 (LBO) – Colombo Stock Exchange listed United Motors (UML) has entered into a share purchase agreement for the purchase of 100% of Dutch Lanka Trailer Manufacturers Limited (DLT) for a price of LKR700mn. The seller TRF Singapore (a Tata group firm) purchased DLT for a total price of approximately USD$17mn from 2009 […]
Imperative for SOE Reforms in focus at Sri Lanka Economic Summit 2023
The second session of the Sri Lanka Economic Summit 2023 titled ‘SOE Reforms – Now or Never’ will focus on the imperative for SOE reforms, sharing invaluable insights into the ongoing SOE reforms and their potential impact on economic growth. The session will center around a deep dive into the transformation of large SOEs, their […]