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“SL’s infrastructure, HR & other facilities are in place to attract foreign investments”

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Sri Lanka’s infrastructure facilities, human resources and other required facilities are in place and now what is needed to attract foreign investments is to enact necessary legal reforms President of the Chinese Peoples’ Association for Friendship with Foreign Countries, (CPAFFC) – Mr. Lin Songtian said.

Mr. Songtian, who called on Speaker – Mahinda Yapa Abeywardene together with the Chinese Ambassador in Sri Lanka – Mr. Qi Zhenhong in Parliament recently (15) said Hambantota and other economic Zones as well as the Colombo Port City could attract global investors, if necessary, reforms are enacted and investor-friendly atmosphere is quickly established. He also said that China will provide the highest possible support to Sri Lanka for investments.

Appreciating China’s support as a long-term friend of this country, the speaker said that he expects to strengthen bilateral relations between the two countries in the future as well. Secretary General of Parliament Mr. Dhammika Dassanayake was also present on the occasion.

Subsequently, Mr. Lin also participated in a special meeting of the Sri Lanka – China Parliamentary Friendship Association.

While addressing the Parliamentary Friendship Association, he said that the country has all the ingredients such as a strategic location in the centre of the Indian Ocean, highways, ports and also skilled youth resources needed for leap forward in industrial and agricultural development.

Chairman of the Association – Namal Rajapaksa said that the two countries are looking forward to further enhancing bilateral relations through parliamentary friendship associations.

Mr. Lin also engaged in a cordial discussion with the members of parliament and later, the delegation engaged in a tour of parliament and witnessed the parliamentary debate from the Speaker’s VIP gallery.

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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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The G7 Summit begins today

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Leaders of the Group of Seven (G7) countries are meeting for a three-day summit, starting today (13 June) to discuss global affairs in the southern region of Puglia (Apulia), Italy.  

Heads of state of the seven members – the United States, Canada, Germany, France, Italy, Canada and the United Kingdom – as well as the chiefs of the European Council and the European Commission will be present at the event.

Italy, the host of this year’s event, has extended an invitation to more than 10 other countries for sideline discussions. These include UAE’s Mohamed bin Zayed, Algeria’s President Abdelmadjid Tebboune, Jordan’s King Abdullah II and Turkey’s President Recep Tayyip Erdogan. Notable absentees are Egypt and Saudi Arabia, who it  is reported, had been invited.

Support for Ukraine is top of the agenda. President Volodymyr Zelenskyy is scheduled to arrive on the summit’s first day for two sessions dedicated to the war-torn country. The G7’s most anticipated outcome is an agreement over a $50bn loan for Ukraine backed by profits accrued on Russian assets frozen in the West. 

The war on Gaza is also expected to dominate talks. 

Pope Francis will also be among the guests – the first time a pontiff has been invited to the summit – for a session dedicated to artificial intelligence (AI). Other specific sessions will be on migration, financial issues and the situation in the Asia Pacific. 

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University applications open tomorrow 

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The University Grants Commission (UGC) has announced that online applications for university admissions for the academic year 2023/2024 will open tomorrow (14 June).

Applications will be available from 6 am tomorrow at www.ugc.ac.lk
The application deadline is 5 July 2024. 

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