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John Keells Properties launches Phase 2 of its latest real estate development, ‘Viman’ Ja-Ela
John Keells Properties proudly announces the launch of Phase 2 of ‘Viman’ Ja-Ela. 90% of Phase 1 of this highly sought after project has been successfully sold to date. Comprising two blocks, the new Phase will feature 2 & 3 bedroomed apartments. Phase 2 provides a limited time opportunity for prospective homeowners as Phase 1 was almost sold out in less than six months since its launch on 19th September 2023. Prospective buyers interested in owning an apartment at Viman can now visit the model apartment in Colombo and have all their queries answered by a professional team.

Nadeem Shums, Head of Sales & Marketing, John Keells Properties and Vice President, John Keells Group said, “We are overwhelmed by the response to ‘Viman’ Phase 1 and thrilled to launch Phase 2, now that 90% of Phase 1 has been successfully sold. Viman makes for a compelling investment not only because it is the latest real estate project by John Keells Properties, but also because of its convenient location in Ja-Ela and its offering of a serene environment in the heart of Ja-Ela. Phase 2 offers aesthetic views of the greenery in the courtyard, the garden of the property, while also offering a view of the cityscape.”

Sprawling across 6 acres in the heart of Ja-Ela, Viman offers a harmonious blend of modern comforts with 418 apartments and is designed to provide a secure, family-friendly environment with convenient access to Colombo city, while retaining the charm of a small-town setting. Ensconced within a lush central garden, Viman boasts a range of amenities, including a swimming pool, gymnasium, meditation courts, clubhouse, a kids play area, cycling and walking spaces, and a multipurpose outdoor sports court, in addition to electric vehicle charging.

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World Growth Outlook Improves, but Inflation Is Showing Persistence
Near-term world growth prospects have improved and Fitch Ratings has raised its 2024 global GDP growth forecast by 0.3pp to 2.4% in its latest Global Economic Outlook (GEO) published today. This reflects a sharp upward revision to the US growth forecast to 2.1%, from 1.2% in the December 2023 GEO.

The revision to the US outweighs a marginal cut to our China 2024 growth forecast - to 4.5% from 4.6% - and a small revision to our eurozone forecast, to 0.6% from 0.7%. We have revised up our growth forecast for emerging markets excluding China by 0.1pp to 3.2%, with forecasts raised for India, Russia and Brazil.

Fitch expects world growth in 2025 to edge up to 2.5% (unchanged from before) as the eurozone finally recovers on a pick-up in real wages and consumption - but US growth slows.

An unprecedented pro-cyclical widening in the US fiscal deficit in 2023 boosted domestic demand and helped explain the surprising resilience of GDP growth.

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SriLankan Airlines and Korean Air Announce New Codeshare Partnership
SriLankan Airlines and Korean Air have officially activated a new codeshare partnership effective 15 March 2024, presenting enhanced travel options and connections for customers of both airlines travelling between Colombo and Seoul.

Richard Nuttall, Chief Executive Officer of SriLankan Airlines stated: “We are delighted to launch our first-ever codeshare partnership with Korean Air, and boost the connectivity between Colombo and Seoul. The passenger traffic between the two cities continues to exceed our expectations, and the partnership will only help us grow our presence in this route in a manner that is fast and economical for the airline, and give more reasons for customers to choose SriLankan Airlines.”