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Top delegations from 2 major Chinese companies in SL

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Top delegations from the Sinopec Group and the China Merchants Group are currently visiting Sri Lanka.

According to the Chinese embassy in Sri Lanka, the delegatios are in the country to enhance cooperation and further investment on petroleum & chemicals, trade, and port & industrial park operations.

China Merchants group in already operating a port and industrial park in Hambantota and a container terminal in Colombo while Sinopec is involved in bunkering operations in Hambantota.

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Apple is the world’s first $1 trillion brand: Kantar

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Kantar BrandZ’s Top 10 Most Valuable Global Brands 2024 has named Apple as the world’s first trillion-dollar brand, holding onto pole position for the third consecutive year. 

Google, Microsoft, and Amazon join Apple atop the rankings, with McDonald’s rounding up the top 5.

Demonstrating how effective AI has become for driving brand value, NVIDIA has lept 18 places to crack the top 10 for the first time, holding sixth position with a 178% year-on-year brand value increase. 

Facebook rejoined the Top 10 after a one-year absence, while Oracle joined the Top 10 for the first time. 

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Govt. to privatise SriLankan as part of IMF programme – CEO

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The government, as part of the International Monetary Fund (IMF) program, is looking to privatise several state-owned enterprises and one of those is the flag carrier of the island nation, said SriLankan Airline CEO Richard Nuttall.

Nuttal added that the airline is also looking for an investor. Three candidates have been finalised in April and the government is in talks with them.

Nutall said that no Indian company had shown interest in investing in the airline.

The airline hopes to grow its current fleet of 21 to 22 next month, with plans to obtain another three aircraft within the next three months.

Source: ANI

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Heads to roll at People’s Bank over large scale fraud 

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The Criminal Investigations Department notified Nugegoda Magistrates court yesterday (12 June) that more employees of the People’s Bank in Pita Kotte would be arrested in connection with a large scale fraud that is currently under investigation. 

It is been conducted due to a complaint made by the head office of the People’s Bank. 

A suspect, Chathupama Ratnayake, has been arrested in this regard and was ordered to be remanded till 26 June by the Nugegoda Magistrate court yesterday (12 June). 

The suspect has used a fixed deposit of a bank customer as a lien to get loans for Rs. 6.3 Mn in total. 

She has used her husband’s, mother’s and other close relatives’ names to prepare fake documents to commit this crime. 

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