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Press & Media

Industry acquisitions, expansions, and strategic moves announced.

December 21, 2024 at 12:02 pm | Uncategorized | No comment

Ipsos has confirmed ongoing discussions regarding the potential acquisition of Kantar Media, but no binding offer has been made yet, and it remains uncertain whether these discussions will lead to an agreement. Meanwhile, other companies have made notable acquisitions to expand their capabilities. For instance, Norstat has acquired PFM Research to enhance its position in […]

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Adani’s West Terminal completion expected Q1 FY25

December 20, 2024 at 1:54 am | Uncategorized | No comment

Sri Lanka’s Colombo Port continues to grow in alignment with global maritime developments, with a significant investment from the Adani Group. The Adani Group acquired a portion of the West Terminal, which is expected to open in the first quarter of 2025. Despite facing financial challenges due to a fraud case in the US, S&P […]

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SLPA seeks private investors for two logistics centres

December 18, 2024 at 11:50 am | Uncategorized | No comment

The Sri Lanka Ports Authority (SLPA) is looking for investors to build a second logistics center at Colombo Port next year, with plans for a third center thereafter. Chairman Sirimevan Ranasinghe revealed these plans at the Voyage Sri Lanka 2024 seminar, announcing the intention to invite investors for the Bloemandhal Center in early 2025. The […]

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Lufthansa Cargo Expands Fleet, ZIM Partners

November 30, 2024 at 11:49 am | Uncategorized | No comment

Lufthansa Cargo welcomed its 18th Boeing 777 freighter at Frankfurt Airport in August 2024, marking a significant expansion of its long-haul cargo capacity. The aircraft was delivered directly from Boeing’s factory in Everett, Washington, to the airline’s primary hub, enhancing Lufthansa Cargo’s ability to meet growing global demand for freight services. In another development in […]

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Hemas Holdings boosts profits via efficiency strategies.

November 27, 2024 at 12:07 pm | Uncategorized | No comment

Hemas Holdings PLC recorded a total revenue of Rs. 54.4 billion, with operating profits reaching Rs. 5.0 billion and earnings amounting to Rs. 2.5 billion. The decline in revenue compared to the same period last year was attributed to cautious consumer spending and strategic price reductions, particularly within the Consumer Brands segment. Despite the revenue […]

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Sri Lanka’s garment exports rise 4% 2024

November 26, 2024 at 11:01 am | Uncategorized | No comment

During the first nine months of 2024, Sri Lanka’s garment exports reached $3,479.0 million, marking a 4.0 per cent increase compared to the $3,345.5 million recorded during the same period in 2023, according to the Central Bank of Sri Lanka. However, textile exports experienced a year-on-year decline of 15.9 per cent, totaling $224.3 million. In […]

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Improving Rail Visibility for Ocean Carriers

November 25, 2024 at 5:48 pm | Uncategorized | No comment

In the world of global commerce, steamship lines carry millions of containers filled with essential commodities, many of which move throughout North America by rail. However, a major challenge persists: visibility gaps in container location and event tracking. Without accurate, real-time information, delivering cargo on time and within budget becomes a significant hurdle for ocean […]

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Sri Lanka’s industrial production rose 7%

November 25, 2024 at 2:59 pm | Uncategorized | No comment

Sri Lanka’s Industrial Growth and Economic Trends – October 2024 The Index of Industrial Production (IIP) in Sri Lanka recorded a 7.0% year-on-year increase in October 2024, reaching 95.5. Key contributors to this growth included a significant rise in the production of coke and refined petroleum products (38.6%), wearing apparel (7.8%), and beverages (27.6%), according […]

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Cargo Theft Surge Worries Shippers and Truckers

November 23, 2024 at 3:46 pm | Uncategorized | No comment

Cargo theft has sharply risen by 33% in the second quarter of 2024, creating heightened concerns among shippers and trucking providers. A recent report by the Transportation Intermediaries Association (TIA) underscores the significant challenges the industry is facing in combating this growing issue. According to Anne Reinke, TIA’s president and CEO, the lack of government […]

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Maersk Asia Pacific Market Update October

October 30, 2024 at 5:43 pm | Uncategorized | No comment

Despite regional variations, global economic momentum has remained steady in 2024, with projected growth at 2.7%. Composite Purchasing Managers’ Index (PMI) figures indicate overall economic expansion, though manufacturing PMIs declined to 48.8 globally in September, signaling a slowdown in industrial activity. The U.S. economy remains strong, supported by robust retail sales, though a drop in […]

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