The National Chamber of Commerce of Sri Lanka (NCCSL) President, Deepal Nelson, extended congratulations to the newly appointed Government, emphasizing the trust and confidence placed in its leadership to guide the nation toward prosperity. “This milestone signifies the Government’s ability to steer Sri Lanka toward growth and stability. The NCCSL pledges its unwavering support for
The National Development Bank PLC (NDB) has announced robust financial results for the nine months ending 30 September 2024, highlighting its resilience and strategic adaptability in an improving economic landscape. NDB Director/CEO Kelum Edirisinghe stated, “The positive trend in Net Interest Margins (NIMs), cost efficiency, and credit quality reflects our focused strategy to enhance shareholder
XpressJobs has been announced as the Official Recruitment Partner for Global Entrepreneurship Week (GEW) 2024, taking place from 18 to 24 November. This year’s GEW theme, “Entrepreneurship is for Everyone,” is set to inspire young entrepreneurs to start their own businesses, contribute to economic growth, and create sustainable solutions. GEW is the world’s largest celebration
The Colombo Stock Exchange (CSE), in collaboration with the U.S. Agency for International Development (USAID), SLASSCOM, and FITIS, recently hosted a forum titled “Unlocking Value via Capital Markets and Funding Options for the IT Sector.” The event focused on empowering Sri Lanka’s ICT sector by showcasing alternative funding sources and educating companies on the process
The Sri Lankan government is setting the stage for Colombo Port City to become a global hub for IT and Business Process Outsourcing (BPO) firms, supporting its vision to develop a USD 15 billion digital economy by 2030. Modeled after Dubai and Singapore, the Port City’s regulatory framework now includes competitive tax breaks, provisions for
Port City Colombo is playing a pivotal role in accelerating the development of Sri Lanka’s IT industry, aligning with the Government’s ambitious goal of creating a $15 billion digital economy by 2030. As the country aims to establish itself as a leading tech hub in South Asia, Port City Colombo is focused on attracting major
Sri Lanka’s tea industry witnessed a remarkable surge in September 2024, with tea production reaching a seven-year high of 24.13 million kilos, according to provisional data released by the Sri Lanka Tea Board. This marks a 27.7% increase compared to September 2023’s unusually low production of 18.9 million kilos. Despite ongoing challenges such as adverse
In a monumental move for Sri Lanka’s tourism sector, John Keells Group has officially launched Cinnamon Life at City of Dreams Sri Lanka, a $1.2 billion mega-development in Colombo. Touted as the largest private investment in Sri Lankan history, the project is set to redefine the country’s tourism landscape by creating one of South Asia’s
As Sri Lanka approaches the completion of its debt restructuring process, optimism is rising for the resumption of long-stalled development initiatives. Eleven Japanese-funded projects, previously halted due to the country’s economic and political turmoil, are set to restart. Economists stress that while ongoing projects will be reinstated, any new ventures will depend on Sri Lanka’s
Sri Lanka’s tourism sector saw a significant boost in foreign exchange revenue, reaching $181 million in September 2024, an 18.9% increase from $152.2 million during the same month last year, according to the Central Bank, citing data from tourism promotion authorities. For the first nine months of 2024, tourism revenue surged by 61.2%, totaling $2.35