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Cars to people ratio falling in line with
developed countries:
Vehicle sales increase
There is a positive trend in vehicle purchases at
present where the recent duty reduction on vehicle imports has
provided the growth momentum. There is an increased number of
inquiries at present compared to the recent past, Ceylon Motor
Traders Association Chairperson Zeeniya Rasheed told Daily News
Business.
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Mobile penetration up
In the first half this year a 10.8 percent
growth was recorded in the mobile phone penetration. The number of
mobile phone subscribers during January 2010 recorded 14.13 million
and it increased to 15.87 million mobile phone subscribers by the
end of June. It accounted for a 1.55 million increase in mobile
phone subscriptions during the past six months.
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Raigam to diversify
Dream Life Science, a subsidiary of Raigam Group
expects to go for an Initial Public Offering (IPO) for the financial
year 2011/2012. Dream Life Science has started manufacturing a range
of cosmetics and pharmaceutical products for the Sri Lankan market
and the envisaged initial investment for the company is Rs 150
million, Raigam Group Chairman/CEO, Dr Ravi Liyanage told Daily News
Business.
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