Sri Lanka to save Rs 100 m forex:
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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