Business
Mahindra unveils the new Bolero City Pik-Up in Sri Lanka
Mahindra & Mahindra Ltd. (M&M), together with Ideal Motors, a fully owned subsidiary of the Ideal Group, recently unveiled the new Bolero City Pik-Up in Sri Lanka in the presence of Minister of Industries, Wimal Weerawansa. Wimal Weerawansa took a tour of the Mahindra Ideal Lanka Automotive Assembly Plant and saw the assembly process of the new Bolero City Pik-Up. The plant was inaugurated in August 2019 under a joint venture between M&M Ltd. and Ideal Group. M&M is the leader in the small commercial vehicle space and this new addition to its existing pickup portfolio further strengthens the company’s leadership position in Sri Lanka.
Addressing the occasion, Minister of Industries Wimal Weerawansa said,”Vehicle production is not an unachievable feat for Sri Lanka. We are steadily moving in the direction of becoming a nation that produces its own vehicles. The collaboration between Ideal Motors and Mahindra and Mahindra (M&M) India will put more local value additions into their vehicle production in Sri Lanka by next year. I believe that we will soon be able to see more ‘Made in Sri Lanka’ vehicles on our roads. As a government, we are committed to further facilitating resource supplies encouraging other global vehicle manufacturers to set up their vehicle production plants in the country. The Bolero City Pik-up unveiled today by Ideal Motors and M&M consists of more than 30% locally-sourced components, thereby enabling local vehicle component manufacturers to increase their revenue and expand their businesses. Further, the technology transfer from M&M to young Sri Lankan technicians in this project is an added boon to the country creating wider economic benefits to many stakeholders of the local vehicle assembly industry for its sustainable development,”
Addressing the gathering at the factory, Nalin Welgama, Chairman, Ideal Motors said “Ideal Motors and M&M have been working together for a decade to deliver value to our customers. We are working with local vendors to maximize local value add on the Bolero City Pik-up and deliver first ever ‘Made in Sri Lanka’ Pickup which is better suited to the market requirement. With our island wide network of Mahindra sales showrooms and authorized service dealerships, we are confident to lead this category”
New Bolero City Pik-Up is perfectly suited to various applications with its easy manoeuvrability, big cargo box and reliable, high-power engine. It boasts a strong suspension, with the rear suspension strengthened to take different type of load in city driving conditions. The cabin ergonomics have been further enhanced with a wider co-driver seat, giving the best driving experience during inter & intra-city business trips. All these make the New Bolero City Pik-Up an ideal pick up for urban goods transportation across the island. With a warranty of 12 months/ 50,000 km and minimal maintenance costs, customers are guaranteed to earn more profit and have complete peace of mind.
With the gradual opening of the market amid COVID19 pandemic in Sri Lanka, the demand for commercial vehicles is anticipated to see a significant spike in the future. Mahindra Ideal Lanka (MILPL) is now boosting its production capacity to meet the market demand for its pickups. This is the 2nd product launch in a row by Mahindra after the highly popular KUV100 was launched in July 2020.
Oil-producing countries have agreed to continued cuts in production in a bid to shore up flagging prices.
Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July and Opec+ said targets would drop by a further 1.4 million bpd from 2024.
Opec+ accounts for around 40% of the world’s crude oil and its decisions can have a major impact on oil prices.
In Asia trade on Monday, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel.
The seven hour-long meeting on Sunday of the oil-rich nations, led by Russia, came against a backdrop of falling energy prices.
Total production cuts, which Opec+ has undertaken since October 2022, reached 3.66 million bpd, according to Russian Deputy Prime Minister Alexander Novak.
Opec+, a formulation which refers to the Organization of Petroleum Exporting Countries and its allies, had already agreed to cut production by two million bpd, about 2% of global demand.
(BBC)
Its MD says. ‘go abroad only if you can work hard’
Siraj Manpower Services, one of Sri Lanka’s leading foreign employment agencies, was honoured with the Three-Star Award at the ‘Golden Awards’ 2023, organised by the Sri Lanka Bureau of Foreign Employment (SLBFE). This award ceremony was organised to honour foreign employment agencies that have made a significant contribution to the development of the foreign employment sector, which is a major source of foreign exchange for Sri Lanka. Siraj Cafoor, Managing Director of Siraj Manpower Services, was presented with the award at the award ceremony which was held at the BMICH in Colombo under the patronage of Minister of Foreign Employment and Labour Manusha Nanayakkara.
Having been established in 2002, Siraj Manpower Services (www.sirajmanpower.lk) has earned a reputation in the field of foreign employment by winning the trust of customers for more than 20 years. It has been offering job opportunities in the Middle East countries such as Kuwait, Qatar, Dubai and Saudi Arabia, and Malaysia as housekeepers, drivers, sanitation workers, labourers and also jobs related to the apparel industry. All these workers are entitled to approved salary scales certified by the SLBFE.
“We always stand for the safety of workers who go abroad through our organisation. We work to solve the problems that arise in relation to the contracts that the workers have entered into. I must mention something special to those who go abroad for employment. That is, you should keep in mind that you go abroad only to work. Go abroad only if you can work hard. You have to remember that you are going abroad to earn some more money and achieve the advancement of your family.” said Siraj Cafoor.
A special discussion between Turkish Ambassador – Demet Sekercioglu and Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva took place last week at the ministry office. The aim of the discussion was to seek authorization to commence direct flights from the Turkish Capital Istanbul to Katunayake, Sri Lanka. The Chief of Turkish Airlines’ South Asia Office Fathi Bozkurt was also present during the discussion.
Currently, Turkish Airlines connects with Sri Lanka through a route that includes a stopover in the Maldives, resulting in an additional travel time of one and a half hours. The delay caused by this routing is not favored by travelers, as emphasized by the Ambassador.
The Chief of Turkish Airlines requested for time and space to be allocated in order to initiate direct flights between Istanbul and Katunaike, thus providing convenience for Turkish tourists and travelers who prefer visit Sri Lanka.
The Minister announced that the request would be forwarded to the Director General of the Civil Aviation Authority of Sri Lanka and the Airport and Aviation Services (Sri Lanka) (Private) Limited. The aim is to establish direct flights between Istanbul and Katunayake starting from August this year.
Turkish Airlines, a renowned airline with a fleet of over 100 aircraft, offers flights connecting Europe’s Vancouver and New York. The Chief of Turkish Airlines said that the new service would not only benefit European travelers but also encourage them to travel to Sri Lanka.
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