BIZ

Coca-Cola recalls drinks over safety concerns

Published

5 months ago

January 28, 2025

editor

Coca-Cola has recalled its drinks in some countries across Europe because they contain “higher levels” of a chemical called chlorate.

The firm said in a statement that the recall was focused on Belgium, Luxembourg, and the Netherlands. It added just five product lines had been shipped to Britain, and they had already been sold.

Affected products include the Coke, Fanta, Sprite, Tropico and Minute Maid brands, according to the Belgium branch of Coca-Cola’s international bottling and distribution operation.

Chlorate can be produced when chlorine-based disinfectants are used in water treatment and food processing.

“Independent expert analysis concludes that any associated risk for consumers is very low,” a spokesperson told the BBC.

Coca-Cola said it had not received any consumer complaints in Great Britain, and that it had “alerted the authorities on this matter and will continue to collaborate with them.”

The company added the issue has affected “a very small number of imported cans” of Appletiser, Coca-Cola Original Taste, Coca-Cola Zero Sugar, Diet Coke and Sprite Zero with production codes from 328 GE to 338 GE” which Coca-Cola said can be found on the base of the can.

Anne Gravett from the Food Standards Agency said it was investigating.

“If we identify any unsafe food, we’ll take action to ensure it is removed and alert consumers,” she added.

Exposure to high levels of chlorate can cause health problems including thyroid problems, especially among children and infants.

NHS and private nutritionist Caron Grazette told the BBC: “We need to question whether or not we want to digest chemicals in soft drinks which are used in the production of fireworks and disinfectants, however small the quantity”.

Chlorate’s effects on humans when taken in excess include nausea, vomiting, diarrhoea, and limiting the blood’s ability to absorb oxygen, added Ms Grazette, citing recent research into the chemical.

The higher levels of chlorate were discovered during routine testing at the company’s production facility in Ghent, Belgium, according to an unnamed company spokesperson quoted by the AFP news agency.

The majority of unsold products had been withdrawn from shelves, according to AFP, and the company was in the process of withdrawing the rest.

A Coca-Cola spokesperson said it “considers the quality and safety of its products as its top priority”.

(BBC News)

BIZ

End of parate relief for large SMEs

Published

18 hours ago

July 1, 2025

editor

The grace period granted to small and medium-sized enterprises (SMEs) under Sri Lanka’s Parate Execution Law officially ended midnight yesterday (June 30) for businesses with loans exceeding Rs. 50 million.

The Parate Law grants banks the authority to seize properties pledged as collateral without court proceedings. Although its implementation had been suspended for three months by the current administration—and for six months earlier under former President Ranil Wickremesinghe—it has now been reinstated, triggering serious concern among entrepreneurs.

Deputy Minister of Economic Development – Dr. Anil Jayantha Fernando has stated that the government intends to hold discussions with all relevant parties in the coming days to address the issues linked to the law’s reimplementation.

Meanwhile, Opposition Leader – Sajith Premadasa has warned that the re-implementation of the Parate Execution Law could lead to the rapid auctioning of assets from small, medium, and micro businesses, putting them at risk.

In a statement yesterday (June 30), he emphasized that these businesses contribute over 50% to Sri Lanka’s Gross Domestic Production (GDP) and employ over 04 million people.

BIZ

Special FD scheme for senior citizens introduced

Published

18 hours ago

July 1, 2025

editor

The Ministry of Finance has officially launched the special fixed deposit scheme for senior citizens.

Proposed in the Budget 2025, the scheme which is open to resident Sri Lankan citizens aged 60 years and above, comes into effect from today (July 01).

Eligible fixed deposits can be opened between July 01, 2025, and December 31, 2025, and must have a 12-month tenure.

The scheme will be implemented through the 17 licensed commercial banks; five (05) government banks and twelve (12) private banks that have confirmed participation. As part of the process, customers are required to provide a declaration confirming that the funds deposited are their own, their monthly income is less than Rs. 150,000, consenting to the sharing of relevant information with the Ministry of Finance, Planning and Economic Development for verification purposes, agreeing that any false information provided will result in disqualification from receiving the interest subsidy.

The government has allocated Rs. 30 billion to cover interest subsidies under this initiative.

Key features of the scheme:
– Deposit Period: 12 months (1 year)

– Deposit Limit: Maximum of Rs. 1 million

– Interest Benefit: Depositors will receive either

An additional 3% over the Average Weighted Fixed Deposit Rate (AWFDR), or
An additional 3% over the declared fixed deposit rate—whichever yields a higher return.

Senior citizens interested in availing themselves of the benefits are encouraged to visit the nearest bank branch starting today. Applicants must provide valid documentation, including their National Identity Card (NIC) and Taxpayer Identification Number (TIN) issued by the Inland Revenue Department (IRD).

This scheme aims to support the financial security of senior citizens by offering them a safer and higher-yielding savings option.