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Alibaba’s South Asian E-Commerce Giant Daraz Announces Layoffs in Memo

 Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an…

Workers’ Remittances Inflows Off to a steady start in January

Workers’ remittances inflows jumped  11.4 percent Year-on-Year (Yoy) to $487.6 million in January this year, slightly below US$ 570 million recorded in festive December last year and failing to cross…

Geopolitical Storm in Red Sea, Sri Lanka joins the US-led campaign to fight Houthis

By Asanga Abeyagoonasekera A perfect geopolitical storm is churning the waters in three geographies: the Black Sea due to the Ukraine war, the Red Sea due to the Houthis and…

Electoral uncertainty casts a shadow over Sri Lanka’s progress

By Prof.Neil DeVotta The Sri Lankan economy stabilised in 2023, with assisted recovery measures including an Extended Fund Facility Program with the International Monetary Fund and loans from the Asian…

CSE declining streak extended to 10 session

Once again, the Colombo Bourse closed in the red zone, with the blue-chip and banking counters dragging the index down for its 10th consecutive fall. The All Share Price Index…

IFC Appoints Imad N. Fakhoury as Regional Director for South Asia

IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Based in New Delhi, Fakhoury will spearhead IFC’s strategy and operations, while…

Sri Lanka inflation quickens for third month as economy rebounds

Sri Lanka’s inflation climbed in December for a third straight month as a rebound in economic activity boosted consumption. The consumer price index in Colombo rose 4 percent from a…

Colombo Bourse records the largest gain in a month

Colombo Bourse settled firmly in the green zone trading positively throughout the day, continuing its upward trend for the third consecutive day, recording the biggest gain in the past month.…

National Budget 2024: A Framework for National Development – Pragmatic Implementation and Timely Execution Will be Key – Ceylon Chamber

The Ceylon Chamber of Commerce considers the 2024 Budget as a crucial step in continuingthe macroeconomic stabilization measures that began in late 2022, as a response to theeconomic challenges faced…

U.S. International Development Finance Corporation, America’s development finance institution, to fund CWIT, Adani’s JV in Sri Lanka, for USD 553 Million

Development of CWIT will support the growth of the Sri Lankan economy U.S. fund will support development of deepwater shipping container terminal in the Port of Colombo Will facilitate private…