Business
Nissan, Honda, and Mitsubishi Motors sign MOU on collaborative considerations
Nissan Motor Co., Ltd. (“Nissan”), Honda Motor Co., Ltd. (“Honda”), and Mitsubishi Motors Corporation (“Mitsubishi Motors”) have signed a memorandum of understanding (MOU) to explore the possibility of Mitsubishi Motors’ participation, involvement, and synergy sharing in relation to the business integration through the establishment of a joint holding company outlined in an MOU signed between Nissan and Honda.
Nissan, Honda, and Mitsubishi Motors have reached a basic agreement to proceed with discussions based on the framework established in the MOU signed by Nissan and Honda on August 1 regarding the commencement of a strategic partnership focused on intelligence and electrification. Mitsubishi Motors has been participating in this framework, and the three companies have been proceeding with discussions.
Following the agreement between Nissan and Honda to start consideration toward a business integration through the establishment of a joint holding company amid the dramatic changes in the environment surrounding both companies and the automotive industry, the three companies have agreed to explore the possibility of achieving synergies at an increased level through Mitsubishi Motors’ participation or involvement in the business integration. Mitsubishi Motors aims to reach its conclusion by the end of January 2025 on the participation or involvement in the business integration between Nissan and Honda.
Business
EDB hosts networking session for women entrepreneurs
The Export Development Board (EDB) successfully conducted a networking and knowledge sharing session for the women entrepreneurs registered under the “Women Entrepreneurship Development Program” recently at the EDB-NDB Tower, Colombo 02. The event addressed one of the key barriers faced by women entrepreneurs, lack of networking opportunities with industry leaders.
This exclusive session brought together 50 women entrepreneurs registered with EDB, including SME direct exporters and indirect exporters, along with leading exporters and academics. Designed to inspire and educate, the event fostered connections, facilitated knowledge sharing, and encouraged collaboration to help women entrepreneurs navigate international markets. The event featured a distinguished panel of speakers who shared their expertise on various topics critical to succeeding in the global marketplace:
Mrs. Mano Sheriff, Managing Director of Ceylon Natural Rubber (Pvt) Ltd, discussed the importance of sustainable exporting practices. She highlighted strategies to incorporate sustainability into export operations.
Mr. Adrian Gabriel, General Manager (Tea) at Akbar Brothers (Pvt) Ltd, shared real-life examples of thriving in competitive international markets. As a Senior Tea Taster managing markets across Europe, the Middle East, and Australasia, he provided insights into overcoming market entry challenges.
Prof. Arosha Adikaram, Chair Professor of Human Resource Management at the University of Colombo, emphasized the importance of understanding and mitigating legal risks in labor management. Drawing on her extensive research and consultancy experience, she underscored strategies for creating safe and compliant workplaces.
Mrs. Priyanka Perera, Head of Operations at Orel Academy, explored the nuances of cultural differences and their impact on international negotiations. Her diverse industry experience provided attendees with actionable tips for successful cross-border collaborations.
Mrs. Priyadarshinie Karunarathne, a Business Consultant and Sustainability Practitioner, illuminated the growing global demand for sustainable practices and the opportunities it presents for export businesses.
Mrs. Nirosha Jagoda, Managing Director of British Cosmetics (Pvt) Ltd and Mr. Christopher Fernando, Executive Director of Malwatta Valley Plantations PLC captivated the audience with their journey of entering and excelling in challenging markets, offering valuable lessons for aspiring exporters.
The session was a resounding success, enabling women entrepreneurs to expand their networks and gain insights from industry leaders. By addressing barriers and fostering an environment for shared learning, the EDB continues to empower women entrepreneurs to achieve greater heights in the export sector.
This event is part of EDB’s ongoing commitment to supporting women entrepreneurs under its “Women Entrepreneurship Development Program”. Mr. Mangala Wijesinghe, Chairman and Chief Executive Officer of the EDB, Mrs. C. D. Dharmasena, Director General of the EDB, along with EDB Directors and officials, also participated in the event.
Business
Sri Lanka welcomes two millionth tourist arrival, marking a post-2018 milestone
Sri Lanka has achieved a significant milestone in its tourism sector, proudly welcoming the two millionth tourist arrival on December 26, 2024. The two millionth lucky tourist was Prasan Ingkanunt from Thailand who arrived on UL 403 for his first visit in Sri Lanka with his wife and sister .
This marks the first time since 2018—when the country recorded its highest-ever arrivals of 2.3 million—that such numbers have been reached. The achievement reflects the resilience of the tourism industry despite the challenges of the past five years. This will provide Sri Lanka Tourism with a necessary and crucial breather for its revival and growth.
The past week recorded daily tourist arrivals exceeding 10,000—a figure expected to rise further towards the end of the month—the milestone underscores the success of combined efforts by the private sector stake holders and Sri Lanka Tourism in ensuring a robust holiday season. Promotional campaigns and collaborative strategies have helped pave the way for this achievement, signaling a positive outlook for the future of the indsutry.
Sri Lanka’s tourism industry has faced significant ups and downs since 2019, beginning with the Easter attacks, followed by the COVID-19 pandemic and an economic downturn. Despite these hurdles, the country welcomed 1.4 million tourists in 2023, and the steady growth into 2024 highlights its ability to rebound and regain its status as a sought-after destination.
Strategic government intervention played a key role in this progress, with the initial step taken by the newly elected government resolving the online visa issues in September 2024 ensuring smooth travel for international visitors. The government’s recognition of tourism as a priority industry underlines its commitment to fostering an inclusive economy, with ambitious targets of 3 million arrivals and USD 5 billion in revenue by 2025.
A special ceremony was held at the Bandaranaike International Airport’s Silk Route Lounge to honour the two millionth tourist. Hosted by the Sri Lanka Tourism Promotion Bureau and Airport Aviation Services Limited, the event featured traditional dance performances and the presentation of special mementos.
Sri Lanka’s rich diversity continues to captivate travelers worldwide, offering everything from sun-kissed beaches to lush mountains and exotic wildlife. The country’s efforts have been recognized globally, with 21 international tourism accolades in 2024 alone. These include Forbes Magazine naming Sri Lanka the fourth most popular solo travel destination, National Geographic highlighting the Pekoe Trail as one of the world’s best hiking experiences, and the Wanderlust Gold Award for Most Desirable Island.
Business
People’s Bank Aranayaka branch relocated at new premises
People’s Bank Aranayaka Branch moved to a new location recently. The new, spacious premises offer enhanced convenience to customers, providing a full range of services supported by the latest digital banking technology.
People’s Bank Deputy General Manager (Channel Management) Naleen Pathiranage, Kegalle Regional Manager J.D.R Gnanathilaka, Asst. Regional Manageress Kumari Dayananda, Branch Manageress Devika Rathnakumara, as well as bank staff members, Government officials and Customers attended the event.
People’s Bank, established in 1961, is one of Sri Lanka’s leading commercial banks, with the country’s largest customer base of over 15.2 million customers. With country’s largest network of 750 branches and Service Centers and an undisputed leadership in digital banking, the bank continues to drive economic growth and development in Sri Lanka.
-
Sports7 days ago
Pathirana set to sling his way into Kiwi hearts
-
News5 days ago
Office of CDS likely to be scrapped; top defence changes on the cards
-
Features5 days ago
An Absurd play in Parliament: Qualifications versus education
-
Editorial7 days ago
The games they play
-
Opinion6 days ago
What AKD and NPP should bear in mind
-
Midweek Review4 days ago
Ex-SLN seniors focus on seabed mining and Sri Lanka’s claim for the delimitation of the Outer Continental Margin
-
Features7 days ago
The Government’s Term Tests & Results: The Good, the Bad and the Ugly
-
Editorial6 days ago
Seeyanomics, rhetoric and reality