Marked increase in vehicle imports
Record 150% growth in new registrations:
The demand for vehicles in Sri Lanka remains
buoyant according to a report prepared by the Ceylon Chamber of
Commerce (CCC) analyzing import statistics for 2011. The expenditure
on import of vehicles and parts recorded a growth of 87% in 2011.
The value of imports increased from Rs. 117 billion to Rs. 219
billion by 2011. The Ceylon Chamber analysis finds that the share of
expenditure on importation of vehicles and parts as a percentage of
total expenditure on imports of Sri Lanka has been increasing over
the past decade. In 2011 it accounted for 10% of the total import
bill compared to 8% in 2010.
Innovest to offer expert services to investors
An investment management company titled Innovest
Investments (Pvt) Ltd was launched recently by, former chairman of
the Colombo Stock Exchange (CSE) and Finance Commission Ajit de S.
Jayaratne, together with Dian Gomes and Arosha Gunasekera. This will
cater to the needs of people looking to invest in the Stock Market
as well as fixed income securities such as corporate bonds and
treasury bills offering expert services. to both institutional and
HDFC Bank wins ACCA award for second consecutive year
HDFC bank won the award for sustainability
reporting in the small scale category for the 2nd consecutive year
at the ACCA sustainability reporting awards, held on February 14,
2012 at the Cinnamon Grand hotel in Colombo. Being a licensed
specialized bank for housing finance, HDFC conforms to GRI
guidelines on sustainability reporting.