Raigam to set up Rs. 75 m rice flour noodles plant

The Raigam Group will invest Rs. 75m on a rice flour noodles manufacturing plant in Horana said Raigam Group Chairman and CEO, Dr. Ravi Liyanage. He said that the project will initially provide employment to around 150 people. “We hope to provide more job opportunities with expansion,”

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Litigation rate below 5 percent in insurance industry

As a result of intense competition in the insurance industry some companies have undercut the premium and have failed to pay the agreed insurance coverage to policy holders, said CEO of Ceylinco Insurance PLC, Ajith Gunawardena.

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$ 24m for bamboo processing project

Sri Lanka's second fastest GDP growth this year is generated by the industrial sector and not by agriculture or the services sector, said Minister of Industry and Commerce Rishad Bathiudeen. According to the latest data, industrial sector growth rate in the early part of 2012,

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High import duty hits motor industry

The decline in vehicle imports has adversely affected the motor industry in Sri Lanka said Ceylon Motor Traders Association (CMTA) Chairman and Executive Director, Sathosa Motors Limited, Tilak Gunasekera. He said the sharp decline in the import of motor vehicles this year due to the high import duty has affected revenue growth and stifled expansion plans of franchise holders.

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Insurance professional achieves corporate milestone

Senior Manager - Actuarial Services at Ceylinco Life, Saroja Kamini Gunatilleke, 28, has qualified as a Fellow of the Institute and Faculty of Actuaries, the chartered professional body for actuaries in the UK.

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