October 28 - DBS Logistics Ltd is a new joint venture between Aitken Spence and DB Schenker set up to serve the Sri Lankan and Maldives markets.

The new company will offer air and ocean freight services as well as project cargo operations.

The establishment of DBS Logistics was led by Aitken Spence, a publicly listed conglomerate that was established in Sri Lanka in 1868. Aitken Spence has a number of interests and is one of the country's largest logistics service providers.

Parakrama Dissanayake - chairman of Aitken Spence's maritime and logistics sector and director of Aitken Spence said: "This partnership in Sri Lanka and Maldives brings together the expertise and experience of a global leader and a regional leader, which will form a catalyst to propel growth.