BIZ

Companies refuse to lower egg carton prices

Published

2 years ago

September 21, 2022

editor

Egg producing companies have yesterday (20) rejected a request made by the government to reduce the price of packaged eggs sold in supermarkets.

The government officials made the request during a discussion held at the Ministry of Trade.

However, the companies have indicated that they cannot reduce the price due to various types of taxes.

A packet of packaged eggs is sold at Rs.650 in supermarkets.

Meanwhile, the All Ceylon Egg Producers Association has also requested the Trade Ministry to remove the controlled price imposed on eggs. The Association has proposed to revise the price if the controlled price cannot be removed. It pointed out that eggs cannot be provided at the controlled price due to the increase in the cost of production.

However, the Consumer Affairs Authority (CAA) has already conducted about 100 raids over selling eggs exceeding the controlled price.

The main companies that produce such packaged eggs are Switz Lanka (Happy Hen), Nel Farms, Arogya Farm (Omega) as well as Cargills, Keells and Arpico.

Meanwhile, the sale of biscuits went down after biscuit manufacturers increased the price of their products arbitrarily. Following the decrease in sales, the manufacturers themselves decided to reduce the price of their products.

Economic experts are of the opinion that in order to overcome the severe economic difficulties that Sri Lanka is currently facing, including the USD shortage, the people should purchase goods from small-scale manufacturers and traders instead of buying from major manufacturing companies, including multinational companies.

The economists point out that multinational and large companies are more willing to source raw materials from abroad.

Similarly, the amount of money that these companies send to their origin countries in the form of USDs can be reduced if consumers can make more purchases from local traders.

It was us at ‘Sri Lanka Mirror’ who first revealed that packaged eggs are being sold at exorbitant prices despite the controlled price imposed on eggs and that supermarkets are also supporting this move.

BIZ

Dialog, Axiata Group & Bharti Airtel to merge operations in SL

Published

1 day ago

April 18, 2024

nipuni

Dialog Axiata PLC, Axiata Group Berhad, and Bharti Airtel Limited have signed an agreement to merge their operations in Sri Lanka.

Dialog will acquire Airtel Lanka, with Bharti Airtel receiving ordinary voting shares in Dialog as part of the deal.

The deal has been approved by the Telecommunications Regulatory Commission of Sri Lanka (TRCSL).
The statement issued in this regard is as follows :

Dialog Axiata PLC (“Dialog”), Axiata Group Berhad (“Axiata”) and Bharti Airtel Limited (“Bharti Airtel”) (collectively “the Parties”), signed a Definitive Agreement to combine their operations in Sri Lanka. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount to 10.355% of the total issued shares of Dialog by way of a share swap. The transaction is subject to the approval of Dialog’s shareholders and is pending the completion of specific conditions outlined in the Share Sale Agreement, including clearance from the Colombo Stock Exchange (CSE) and completion of other applicable legal, corporate and regulatory compliance procedures.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger, underscoring its vision to advance the adoption of telecommunications services across Sri Lanka.

This consolidation will enable the merged entity to garner economies of scale and reduce duplication of infrastructure, achieve synergies in technology and capital expenditure leading to enhanced high speed broadband connectivity, voice and value added services, cost savings and operational efficiencies.

Vivek Sood, Group CEO and Managing Director of Axiata Group Berhad said, “The merger between Dialog and Airtel Lanka is aligned to Axiata’s strategy of market consolidation and resilience. The merger will create value for the shareholders of Dialog Axiata PLC and Axiata Group through achievable synergies. We have the utmost respect for Airtel Lanka and its employees and look forward to working together as we integrate the two companies.”

Commenting, Dr Hans Wijayasuriya, CEO Telecommunications Business and Group Executive Director of Axiata, added “This merger brings together the strengths of two leading telco groups and bodes well for the Growth and Sustainability of Sri Lanka’s flagship Telecom Sector. We look forward to the new frontiers in Customer Experience and innovation the company will deliver to Sri Lankan Consumers and Enterprises.”

Gopal Vittal, MD & CEO Bharti Airtel Limited Said, “We are happy to merge our Sri Lanka operations with Dialog. Given the scale and unique propositions they offer, we are certain that our customers will continue to enjoy cutting edge services on a seamless network.”

“It is a privilege to welcome the team at Airtel Lanka to the Dialog family and together we take a significant step forward in our commitment to delivering superior telecommunications services in Sri Lanka”, remarked Supun Weerasinghe, Director/Group Chief Executive of Dialog Axiata PLC.

“The integration of Dialog and Airtel Lanka operations will unlock new opportunities for innovation and growth, and this will lead to benefit consumers.” Ashish Chandra, Chief Executive Officer, Bharti Airtel Lanka (Private) Limited.

BIZ

WhatsApp makes it easier to find chats

Published

2 days ago

April 17, 2024

editor

WhatsApp is making it easier to find chats by introducing new features, US technology news website ‘The Verge’ has reported.

Meta is launching new filters that will appear at the top of your chat list: All (the default view), Unread (just messages marked as unread), and Groups (group chats and Community subgroups), it notes.

The filters start rolling out from Tuesday (16) and will become available to all WhatsApp users “in the coming weeks.”

BIZ

Indigo launches Mumbai-Colombo direct flights

Published

1 week ago

April 12, 2024

nipuni

Indigo has expanded its connectivity to Sri Lanka adding Mumbai-Colombo direct flights from today (12), Airport and Aviation Services (Sri Lanka) (Pvt) Limited said.

Accordingly, Indigo will operate flights three times a week on Tuesdays, Thursdays and Fridays.

At present, Indigo operates to three destinations in India from Colombo (Chennai twice daily, Bengaluru once daily and Hyderabad six days per week). With this new route expansion, this will increase to four destinations, and it will contribute immensely to the development of travel, trade and tourism between Sri Lanka and India.

With the new addition, Indigo will operate 30 weekly flights to Colombo from four main cities in India.

“AASL recently had successful negotiations with Indigo to commence flight operations between Jaffna and Chennai, India. Accordingly, Indigo will commence direct flight operations between Jaffna and Chennai from June 1, 2024 onwards with daily flight operations. This connectivity will boost travel and trade in the Northern Province, strengthening the cultural and religious bonds between the two nations”, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said.