JAT Holdings invests SL-earned USDs in its Bangladeshi Facility

Published

12 months ago

December 15, 2022

editor

JAT Holdings launched a cutting-edge manufacturing facility in Bangladesh recently.

This was launched fulfilling its IPO objective and keeping its pledge to investors, JAT Holdings PLC said.

The end-to-end manufacturing, warehousing and laboratory facility has been strategically located offering efficient and easy access to JAT’s two key markets in Bangladesh, Dhaka and Chittagong.

This facility would bring JAT Holdings closer to its goal of emerging as an internationally acclaimed leader in wood coatings, the company said.

However, economic experts are of the opinion that the Central Bank should pay more attention to these developments.

They pointed out that these investments were done with the USDs earned in the country, and that these developments have contributed to the country’s acute dollar shortage.

They also said that there is no inflow of USDs to the country, especially compared to the goods exported.

They said that it is not a new practice for these businessmen to hide a part of the money earned from exports in neighboring or foreign countries in this manner.

President opens ‘Blue Orbit’ today; Dilith Jayaweera as Director

Published

2 days ago

December 9, 2023

editor

President Ranil Wickremesinghe is to open South Asia’s first revolving restaurant and a banquet hall today.

The project is a joint venture between Colombo Lotus Tower management which will have an 80 percent stake and Citrus Leisure PLC. The ‘Blue Orbit’, South Asia’s tallest restaurant and Sri Lanka’s first-ever revolving restaurant will create new icon for the country.

Citrus Leisure PLC is chaired by Prema Cooray, and Derana owner Dilith Jayaweera, who is ready to run as a candidate in the upcoming presidential election, is also a director.

The directors of Citrus Leisure PLC include Varuni Fernando, Chandana Talwatte, Sarva Amarasekere, Rajinda Seneviratne, Manoj Pilimatalawwe, Suresh De Mel and Vasula Premawardhana.

With seating capacity for 225 guests at any given time, the Blue Orbit promises an extraordinary dining experience with culinary creations designed to tantalise true connoisseurs. This restaurant will feature an extensive international buffet for lunch and dinner, operating from 11.00 am to 11.00 pm.

BIZ

Operating hours of liquor stores, revised

Published

3 days ago

December 8, 2023

editor

The Excise Department has announced changes to the operating hours of liquor shops, effective from tomorrow (December 09).

According to the revised schedule, liquor shops will be open from 8:00 a.m. to 10:00 p.m.

The detailed list of times is as follows :

BIZ

Deadline extensions for SLT & Srilankan bids

Published

4 days ago

December 7, 2023

editor

The deadline to submit expressions of interest for Sri Lanka Telecom and SriLankan Airlines have been extended on investor requests, Director General of the State Enterprises Restructuring Unit, Suresh Shah said.

The date to express interest for Sri Lanka Telecom was extended to January 12, 2024, from December 18.

The date for SriLankan Airlines was extended to January 09, 2024 from December 05.

The government is selling majority stakes in the firm.

The SRU will issue requests for proposal documents to qualified investors who express interest.

Source – economynext.com