Coats Group set to reach 50 per cent sustainability milestone
by Apparel Resources News-Desk 15-March-2025 | 3 mins read Coats Group, a manufacturer of thread, is about to surpass the tipping point where 50 per cent of its goods will be made from preferred raw (non-virgin oil-based) resources. The company is ahead of schedule in its shift to the sustainable use of materials, energy, water, waste, and people, […]
MAS Holdings to gain greater access to growing Indian market with expansions in Odisha, India
Author Ashanthi RatnasinghamPosted on March 7, 2025 | Apparel, Companies, Featured MAS Holdings, South Asia’s largest apparel manufacturer, marked a significant milestone in its global expansion by breaking ground for its first facility in the state of Odisha, India. This strategic initiative builds on MAS’ long-standing presence in India while strengthening its regional production capabilities and giving it a strong foothold […]
Sri Lanka apparel sector to gain from new US tariffs
By Sunimalee Dias View(s): 3574 With the US imposing new tariffs on a number of different countries it would have a beneficial impact on states like Sri Lanka as buyers are now re-looking at their global supply chains and shifting orders. MAS Holdings CEO Suren Fernando speaking with The Sunday Times Business on Monday said that […]
Sri Lanka Apparel achieves 5% export growth in 2024
Eyes in-country verticality to enable future growth. Yohan Lawrence, Secretary-General of JAAF. Sri Lanka’s export earnings from apparel in 2024 reached USD 4.7 billion, recording a year-on-year growth of nearly 5%, according to the Joint Apparel Association Forum (JAAF). Adding the country’s direct exports of textiles takes the overall export value to just over USD […]
SRI LANKA UPDATE | 13 DECEMBER TO 19 DECEMBER 2024
The EconomySri Lanka records 5.5 percent Gross Domestic Product (GDP) growth in Q3 2024Sri Lanka’s GDP increased by 5.5 percent in Q3 of 2024, marking a significant improvementcompared to the 1.2 percent growth recorded during the same period the previous year.Link: https://tinyurl.com/5n97t347 Purchasing Managers’ Index (PMI) for November expands in key sectorsIn November, the Purchasing […]
SRI LANKA UPDATE | 29 NOVEMBER TO 05 DECEMBER 2024
The EconomySri Lanka export earnings reach USD 10.68 billion with a 7.7 percent growthAccording to the Weekly Economic Indicators report from the Central Bank of Sri Lanka(CBSL), export earnings have risen by 7.7 percent year-on-year, reaching USD 10,676million during the ten months ending in October 2024.Link: https://tinyurl.com/m5jyjj5s Tourist arrivals cross 1.8 million threshold with November […]
SRI LANKA UPDATE | 15 NOVEMBER TO 21 NOVEMBER 2024
💰 The Economy📰 Asian Development Bank (ADB) approves USD 200 million policy-based loan for Sri LankaThe ADB approved a policy-based loan of USD 200 million on November 19, aimed at supportingthe Government in enhancing the resilience and efficiency of its financial sector.Link: https://tinyurl.com/y2z54ezh] 📰 President urges International Monetary Fund (IMF) to strike a balance in […]
SRI LANKA UPDATE | 08 NOVEMBER TO 14 NOVEMBER 2024
💰 The Economy📰 Tourism and remittance inflows surge by 23.4 percent in Sri LankaSri Lanka’s cumulative foreign inflows from tourism earnings and remittances have risen by 23.4percent to USD 7.97 billion in the first ten months of the year compared to the same period theprevious year, latest data by the Central Bank of Sri Lanka […]
SRI LANKA UPDATE | 01 NOVEMBER TO 07 NOVEMBER 2024
The Economy📰 The Asian Development Bank (ADB) remains optimistic on Sri Lanka’s reform initiativesADB Country Director Takafumi Kadono expressed optimism about the continuity of the reformsin Sri Lanka but warned that there is limited room to manoeuvre as the country seeks asustainable recovery.Link: https://tinyurl.com/2jnwjxum 📰 Sri Lanka surpasses 1.6 million tourist arrivals in OctoberSri Lanka […]
SRI LANKA UPDATE | 17 OCTOBER TO 24 OCTOBER 2024
JOINT APPAREL ASSOCIATION FORUM SRI LANKA (JAAFSL) 💰 The Economy📰 Sri Lanka’s Balance of Payments (BOP) surplus records USD 2,185 million amid ongoing deflationary policiesThe Central Bank of Sri Lanka (CBSL) has recorded a balance of payments surplus of USD 2,184 million for the period up to August 2024, slightly exceeding the surplus from the […]