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No bonus for Milco employees this year – Gota

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Milco Chairman Hemajiva Gotabhaya has said that Milco employees will not receive their bonus this year due to financial difficulties.

He said this at a press conference held at the Department of Government Information yesterday (March 27).

He stated that, according to a Treasury circular, loss-making companies are not permitted to grant bonuses.

Director General of Government Information, Mr. H.S.K.J.Bandara, also attended the press briefing.

During the media briefing, the Chairman revealed that Milco has recorded an operation loss of Rs.501 million in 2023 with losses cut back to Rs. Rs.34 million in 2024.

He also reminded that plans existed to hand over the National Livestock Development Board (NLDB) and Milco to a joint venture with an Indian company.

In the previous year, Milco had an overdraft of Rs.1800 million and owed an additional Rs.1200 million to dairy farmers and other suppliers.

However, by 2024 October, the company had earned Rs.02 billion in revenue and managed to clear Rs.500 million owed to dairy farmers and Rs.700 million to other suppliers, he further noted.

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Standard egg prices to be announced daily via SMS

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Chairman of the All-Ceylon Egg Producers’ Association, R.M. Sarath Rathnayake has said new measures to announce daily standardized egg prices will be introduced from next Monday (June 23) to ensure fair pricing for consumers.

The prices covering wholesale, retail, and intermediary rates will be communicated daily at 5.00am via SMS to small, medium, and large-scale egg producers, as well as bakery owners, food manufacturers, and hotels through the number 070-7030700.

He warned of recent practices where eggs were bought at Rs.15-18 and stockpiled, stating such actions will no longer be tolerated.

He also criticized groups posing as “egg associations” without actual farming experience.

The cost of producing an egg is around Rs.28 for large farms, Rs.29-30 for medium range farms, and Rs.32 for small-scale producers, he further said.

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16 bn. Apple, Facebook, Google passwords exposed

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A staggering 16 billion passwords to Apple, Facebook, Google, and various US government services have been leaked online, triggering global security alerts in what experts are calling the most significant data breach in history.

The mammoth security breach has forced Google to urge billions of users to change their passwords immediately.

At the same time, the FBI has issued warnings to Americans about opening suspicious links in SMS messages.

Cybersecurity experts at Cybernews, who investigated the breach, discovered a whopping 30 exposed datasets containing between tens of millions and over 3.5 billion records each.

Perhaps most alarmingly, researchers confirmed that nearly all these exposed datasets contain previously unreported information, making this an entirely fresh security crisis.

“This is not just a leak – it’s a blueprint for mass exploitation,” the researchers said via Forbes this week.

(news.com.au)

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New chairman appointed to CSE

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Dimuthu Abeyesekera has been appointed as the new Chairman of the Colombo Stock Exchange (CSE).

The CSE announced that Mr. Abeyesekera brings over 35 years of experience in the capital markets and has served on the CSE Board for the past six years.

He currently serves as the Director/CEO of Asha Securities Ltd, which is affiliated with Phillip Capital Singapore, a specialized financial services organization managing assets worth over US$ 35 billion with a network of offices around the world.

Abeysekera also currently serves as the Director at Asha Financial Services Ltd, a specialised margin Trading Company in Colombo.

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