Connect with us

BIZ

DLB ticket prices to be doubled!

Published

on

The prices of Development Lotteries Board (DLB) tickets will soon be doubled following the approval received from the Ministry, DLB Chairman Ajith Gunaratne Naragala said.

He said this during the Gampaha district sales representative meeting of the series of district sales representative meetings being held under the ‘Sanwardhana Abhiman 2023’ programme at the Katunayake Eagle Lagoon Hotel premises yesterday (29).

“With the social and economic setback we suffered along with the covid-19 pandemic, all the businesses in the country were severely affected. Even amidst such an unprecedented economic and political crisis, our sales representatives worked hard to protect the development lottery business.”

“The sales representatives who have been with the DLB for 40 years are engaged in a great service on behalf of the country and the people.”

“In 2022, the DLB recorded a record income of 19 billion rupees. We have given 10 billion rupees to the people and 3 billion rupees to the government as taxes.”

“The daily sale of development lottery tickets of 2.2 million rupees has increased to 3.6 million rupees today. We have decided to make a stronger contribution to the President’s Fund and the Mahapola Trust Fund,” he said.

BIZ

Mr. Koththu Grand & Big Bite Biryani outlets sued

Published

on

By

The Colombo Chief Magistrate’s Court yesterday (July 16) heard charges against 02 outlets of 02 popular eateries – Mr. Koththu Grand and Big Bite Biryani for violating sanitary regulations in food preparation.

Mr. Koththu Grand outlet located at 1128, Kotte Road, Rajagiriya, is run by Mr. Dinesh Priyakantha, while the Big Bite Biryani outlet at 111, Sri Jayawardenepura Kotte, is operated by Mr. Yoganathan Prasan.

The cases were filed separately by the PHI of the Public Health Department at the Sri Jayawardenepura Kotte Municipal Council – H.A.L.R. Karunarathna.

Mr. Koththu Grand faces 08 counts, while Big Bite Biryani faces 06 and both have been accused of operating in violation of health and safety regulations.

The charges include using unsanitary equipment and improperly sealed plastic trash cans, poor hygiene as well as uncovered light bulbs in food handling areas, which would prevent food contamination during a potential electrical hazard.

The cases will be heard before Colombo Additional Magistrate Pavitra Sanjeewani.

Continue Reading

BIZ

PMB buys 600,000 kg of Yala harvest paddy

Published

on

By

The Paddy Marketing Board (PMB) has purchased 600,000 kilograms of paddy so far from this year’s Yala season harvest, according to its Chairman – Manjula Pinnalanda.

He noted that the largest quantity has been procured from the Ampara District, with stocks also coming in from the Northern Province and Puttalam District.

Paddy warehouses in the Anuradhapura District and North Western Province have also been opened for storage, he said.

The government had earlier announced a guaranteed price scheme, purchasing Nadu paddy at Rs. 120 per kilogram, Samba at Rs. 125, and Keeri Samba at Rs. 132 per kilogram.

A total of Rs.06 billion has been allocated in the last budget to support this purchase program.

Related News :

Continue Reading

BIZ

Labubu firm sees profit jump by 350%

Published

on

By

Pop Mart, the Chinese toy firm behind the hugely popular Labubu dolls, has said its profits are set to soar for the first six months of this year.

The Beijing-based company said in a preliminary statement that it expects profits for the period to jump by 350% as revenues more than tripled.

Pop Mart, which has a stock market value of more than $45bn (£34bn), also said profitability had been boosted by increased recognition of the brand globally and cost controls.

Collectors have been obsessed with the viral Labubu dolls – fictional elf-like creatures with a row of jagged teeth – which have flown off shelves and sparked long queues in shops worldwide.

Pop Mart is best known for selling toys in “blind boxes” – a type of packaging that hides its contents until it is opened. The marketing tactic has faced criticism for encouraging gambling-like behaviour and compulsive buying.

Launched in 2019, Labubu dolls have helped the company become a major retailer, operating more than 2,000 vending machines and stores around the world.

Pop Mart began selling its shares on the Hong Kong Stock Exchange in 2020. The company’s stock market valuation has jumped by almost 600% in the last year.

Sales from outside mainland China contributed to nearly 40% of its total revenue in 2024.

Many shops around the world had to pause sales of Labubu dolls due to overwhelming demand.

Labubu has taken off, especially in the US, thanks to celebrity endorsements by including celebrities like Kim Kardashian and Lisa from K-pop group Blackpink.

Pop Mart’s partnerships with major names such as Coca-Cola and the manga franchise One Piece has also boosted Labubu’s profile around the world.

In June, Lababu sales in the US were up by 5,000% compared to a year earlier, according to estimates from equity research firm M Science.

“I’ve not seen anything like this from other toy companies,” M Science senior analyst Vinci Zhang told the BBC.

The company has huge potential in the US where it operates just under 40 shops compared to around 400 in China, he added.

The buying frenzy has created a booming resale market where the dolls, originally sold at around $10, can fetch up to hundreds of dollars.

In June, a human-sized Labubu sold for $150,000 at an auction in Beijing.

Labubu’s popularity has also fuelled a boom in counterfeits, often referred to as Lafufu dolls.

Chinese authorities seized more than 46,000 fake Labubu toys in June, as they crack down on a growing black market for the dolls.

(BBC News)

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved