Business Today Sri Lanka - December 2024

In this issue

President Anura Kumara Dissanayake at the inauguration of the first session of the Tenth Parliament.

The cabinet of the National People’s Power (NPP) Government was sworn in before President Anura Kumara Dissanayake.

SLT-MOBITEL achieves Financial Recovery in the Third Quarter of 2024

Starlink, a groundbreaking initiative by SpaceX, is more than just a satellite internet service – it’s a technological revolution aimed at bridging the digital divide.

The tourism industry has experienced a fundamental shift in recent years, largely influenced by changing traveler preferences and new insights from Online Travel Agencies (OTAs), the World Tourism Organization (WTO), and digital channel managers.

President called for collective effort and dedication to ensure the success of the government’s mission.

In an era where sustainable development is no longer a choice but a necessity, the International Monetary Fund (IMF) and the World Bank are pioneering a new path in global finance.

As the Heart to Heart Trust Fund celebrates a decade of transforming lives, it remains a testament to the power of community, compassion, and unwavering dedication.

A New Era of Unity, Justice, and Transformation: President Anura Kumara Dissanayake's Vision for Sri Lanka

Historic Political Shift: ■ The new government represents a significant political transformation in Sri Lanka, breaking decades of dominance by two main camps.

2 mins

SLT-MOBITEL Achieves Financial Recovery in the Third Quarter of 2024

SLT-MOBITEL Group has reported a Profit After Tax (PAT) of 1,093 million rupees for Q3 2024, compared to a loss of 1,543 million rupees for the same period last year, demonstrating a significant 171 percent turnaround in bottom-line performance.

2 mins

Starlink: The Story Behind a Global Connectivity Revolution

A New Era in Internet Access

4 mins

NDB Delivers Solid Profits Amidst Gradually Reviving Economic Conditions

National Development Bank (NDB) reported resilient performance for the nine months ended September 30, 2024, navigating challenges and optimizing emerging opportunities in a reviving economy.

2 mins

Top Trends Tourists Prioritize when Selecting a Destination

The tourism industry has experienced a fundamental shift in recent years, largely influenced by changing traveler preferences and new insights from Online Travel Agencies (OTAs), the World Tourism Organization (WTO), and digital channel managers. As destinations and providers look to cater to these evolving demands, understanding the primary trends is essential for tapping into the modern traveler mindset.

6 mins

BOC PBT is up by 66 percent in Third Quarter of 2024

In the first nine months of 2024, the Bank of Ceylon skillfully navigated Sri Lanka's complex economic terrain. The Bank achieved a remarkable Profit Before Tax (PBT) of 37.6 billion rupees, a substantial 66 percent increase over the same period in the previous year. This exceptional performance highlights the Bank's resilience and adaptability in the face of volatile market conditions and numerous challenges.

2 mins

Responsibility at the Heart of Power: President Dissanayake's Call to Action for Ministers

The Weight of Responsibility - President Dissanayake highlighted the importance of wielding the immense power granted to ministers with responsibility. He reminded the new Cabinet Ministers that their victory marks the beginning of a collective journey toward uplifting the nation.

1 min

Historic Donald Trump Comeback Creates Over 11,000 new Bitcoin Millionaires

While Bitcoin (BTC) attempted a breakout already as Americans were casting their ballots, the true rally came once President-Elect Donald Trump's lead in the electoral college started becoming overwhelming.

2 mins

President Dissanayake Urges IMF to Strike a Balance in Economic Recovery Program

The Government of President Anura Kumara Dissanayake reaffirmed its readiness to collaborate with the International Monetary Fund (IMF) to advance Sri Lanka's economic recovery within the context of the mandate. Peter Breuer, Senior Mission Chief and the IMF delegation met with President Dissanayake and key ministers of the newly-formed government at the Presidential Secretariat, to discuss the next steps in the IMF program.

1 min

Trump Victory fuels 40 percent Surge in Dogecoin Millionaires

Following Donald Trump's 2024 presidential victory, Dogecoin (DOGE) experienced a significant boost, both in price and in the number of millionaire wallets.

2 mins

Driving Sustainable Finance: The Partnership Between the IMF, the World Bank, and Bloomberg Philanthropies

In an era where sustainable development is no longer a choice but a necessity, the International Monetary Fund (IMF) and the World Bank are pioneering a new path in global finance. With the support of Bloomberg Philanthropies, their joint efforts are not just transforming economies but reshaping how the world views sustainable growth. As IMF Managing Director Kristalina Georgieva succinctly put it, \"This is how we do it\" a bold declaration of leadership and action in the face of unprecedented global challenges.

2 mins

Heart To Heart Trust Fund: Saving Lives for a Decade

As the Heart To Heart Trust Fund celebrates a decade of transforming lives, it remains a testament to the power of community, compassion, and unwavering dedication.

5 mins

Global Logistics Costs to Grow by 12 percent and hit USD 14.4 Trillion by 2029

AIthough companies actively work to reduce logistics costs, they remain a significant expense on their income statements. In 2024, businesses across the globe collectively spent USD 12.8 trillion on logistics, USD 330 billion more than last year, and this massive figure will become even bigger in the next five years.

2 mins

Argentina Rebounds: Record USD 888M Trade Surplus Marks Economic Turnaround

In October 2024, Argentina recorded a remarkable trade surplus of USD 888 million, marking a significant recovery from the USD 442 million trade deficit in October 2023. This shift in trade dynamics underscores Argentina's economic resilience and the effectiveness of recent policy measures aimed at bolstering exports and managing imports.

2 mins

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Business Today Sri Lanka Magazine Description:

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.