Author: Ashanthi Ratnasingham
CEAT Kelani announces 125-pct increase truck bus radial tyre production
Phase 1 to see production increase of 65% Phase 2 to increase capacity by 125% by June CEAT Kelani Holdings has announced another significant increase in production that will more than double the number of Truck Bus Radial (TBR) tyres reaching the domestic market by June this year, further supporting the national effort to reduce […]
Asia Pacific’s largest logistics property developer, explores investment opportunities in SL
Stuart Gibson, Co-Founder & Co-CEO of Hong Kong listed ESR Cayman Ltd, one of APAC’s largest logistics property platforms, visited Sri Lanka recently. Gibson and his senior management team held talks with the top level of the Sri Lankan government including President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa, State Ministers Nivard Cabraal, Tharaka Balasooriya, D.V. […]
Sri Lanka vehicle registrations marginally up in Jan 2021
Total Vehicle registrations recorded 3,558 units in Feb marginally up from 3,256 units in Jan but significantly down from 31,402 units 12 months ago, a new report shows. “The main contributor for the increase was a higher number of hand tractors, a category that is not under an import ban and an uptick from locally […]
CEAT ups radial production by 72,000, exceeding half a million tyres per year
CEAT Kelani Holdings has announced that it has increased production of Passenger Car Radial (PCR/Van) tyres by 72,000 tyres a year, adding 16 per cent to its annual capacity in this category, as part of its expansion plan to support government efforts to conserve foreign exchange through domestic production. This first phase of the planned […]
IMF response to securing SWAP facility of USD 1.5Bn China surprising: Cabraal
State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says the International Monetary Fund (IMF) response to the news that Sri Lanka has been able to secure a SWAP facility of 10 billion Yuan (USD 1.5 billion) from the Peoples Bank Of China is quite surprising. “The request for the Covid assistance was made by […]
CMTA warns, beware of surging frauds in used-vehicle market
The Ceylon Motor Traders Association (CMTA), Sri Lanka’s automotive association has raised concerns over the heavily persistent fraudulent acts associated with Sri Lanka’s used-vehicle market. The association states that the vehicle customers fall prey to a number of frauds including odometer frauds, vehicles restored with counterfeit spare parts and vehicles with forged documents. Due to […]
Cinnamon Life secures Certificate of Conformity for project’s office and ‘The Suites’ residential towers
Cinnamon Life, Sri Lanka’s largest mixed development, announced another major milestone in its journey to completion with the securing of a Certificate of Conformity (COC) for the project’s office and ‘The Suites’ residential towers. Notably, the pace and the progress of the Cinnamon Life project continued to gain momentum, despite the challenges of the ongoing […]
Minister green lights productivity-linked wage proposal for RPCs: Unions are still to agree
Feb 01, 2021 (LBO) – On the request of Labour Minister, Nimal Siripala de Silva, Regional Plantation Companies (RPCs) submitted a revised wage proposal to remunerate workers up to 1108 repees a day. The revised proposal was a result of a settlement, negotiated with the assent of the Minister. However, trade unions are still to […]
Eran warns “Be careful of pump and dump in stock market”
Jan 18, 2021 (LBO) – Former State Minister of Finance Eran Wickramaratna said that when we hear the message of share market it was not only the message but we also need to look at the messenger as well. “We hear a lot of comments on basically about economy, lots of nice stories and fairy […]
Uber marks 5 yrs in SL, serves 1.8Mn riders and 110,000 drivers
Jan 12, 2021 (LBO) – Uber today marks its fifth year anniversary in Sri Lanka, during which it has served 1.8 million riders, completed more than 53 million trips and created livelihood opportunities for 110,000 drivers. Since its launch in 2015, Uber Sri Lanka has successfully transformed the mobility landscape of the country offering citizens […]
SL fiscal deficit to reach 11.3-pct of GDP in 2021: All clear for stronger growth in 2021
Asia Securities, a stockbroking firm says that all signs point to a strong GDP growth trajectory in 2021. The latest Economic Outlook report titled Balancing the Priorities – The New Normal forecasts a GDP growth of 5.4% for 2021, driven by improved investor sentiment and consumer demand, an accommodative monetary policy environment, and a pickup […]
“India will always be a dependable partner and reliable friend to Sri Lanka” says EAM Dr. S. Jaishankar
Visiting Minister of External Affairs of India Dr. S.Jaishankar held bilateral talks with Foreign Minister Dinesh Gunawardena yesterday and discussed multiple areas of bilateral cooperation was taken up, including economic, financial, trade and investment cooperation, cultural exchanges, defence and security, development cooperation as well as Covid 19 pandemic response. Both sides agreed to continue the […]