Daily News Online

Thursday, 19 May 2011


Four branches in Italy this year:

BoC goes global

Targeting Lankans in 27 EU nations, North America, Asia and Australasia :

The Bank of Ceylon will spread globally first into the 27 member European Union, then North America, Australia,New Zealand, Japan, Hong Kong and Singapore. The expansion into the 27-member European Union nations network, will be initially Italy, based on the success of the London Branch, now a fully fledged United Kingdom Bank. Italy will be followed initially by France and Germany.

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Apparel exports looking for market diversification

The Sri Lankan apparel industry seeks more bilateral partnerships and free trade agreements with India, China, Brazil, Russia and Japan to increase export volume while attracting more preferential treatment for the industry wellbeing. Having understood the risks of depending on traditional markets and following the abolition of industry related concessions, attention has been given to go for export market diversification.

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Slow growth for lubricant industry

The growth momentum of the lubricant market is slowing down and the recent adverse weather conditions have had a negative impact on the industry. “The lubricant market has shown slow progress due to subdued activities. The upward growth trend from last year has comedown in the first quarter. The industry is highly competitive and increasing volumes has been a difficult task,” Chevron Lubricants Lanka Managing Director Kishu Gomes told Daily News Business.

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President Mahinda Rajapaksa inaugurated the Bank of Ceylon (BOC)’s relocated Thimbirigasyaya Branch at the Sri Sambuddhathwa Jayanthi Mandiraya recently. Here the President assisting a young account holder to make her deposit at the opening. BOC Chairman Dr. Gamini Wicramasinghe looks on.

LANKAPUVATH - National News Agency of Sri Lanka
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