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JAT Holdings invests SL-earned USDs in its Bangladeshi Facility

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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.

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Sathosa slashes prices of 6 essential food items

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Lanka Sathosa has slashed the prices of six essential food items, with effective from tomorrow (26 Jan.).

The revised prices are as follows :

Dried Chillis – Rs. 1,700/kg
White Raw Rice (local) – Rs. 169/kg
Red Kekulu Rice – Rs. 179/kg
White Nadu Rice – Rs. 184/kg
Keeri Samba Rice – Rs. 235/kg
Red Dhal – Rs. 365/kg

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People’s Bank suspends decision to up interest rates

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People’s Bank has temporarily suspended its decision to increase loan interest rates to 15.5%

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House of Fashion brawl; two employees hospitalized

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Two employees of House of Fashion at Bambalapitiya who were injured during the recent brawl that took place with a customer have been admitted to the hospital.

During the conflict, the employees kicked and beat up the customer with sticks while the customer also attacked the employees.

The Bambalapitiya Police are investigating the incident and they have recorded statements from the customers yesterday (23). They are a couple residing in Maharagama.

Statements were recorded from the employees as well.

However, no one has been arrested in connection with this incident so far.

Cause of the brawl..

On January 21, a customer has complained that his vehicle had been blocked by another vehicle in the car park.

The vehicle owner blocking the customer’s car has parked the car in House of Fashion “parking” and had gone to another location.

Therefore, the customer had gone and complained to House of Fashion along with his wife resulting in an argument which had led to the brawl.

Excuses..

Meanwhile, the House of Fashion issued a statement yesterday (23).

It said, “We feel this incident has badly impacted our goodwill with the customers. We at House of Fashion always make sure that we do our best to protect our customers and do the best customer service at all times.”

One sided CCTV..

Meanwhile, House of Fashion had released CCTV footage obtained from one side to several media outlets.

They are shown below.

Customer recorded footage shared on social media:

Related news:
Police launches probe brawl at House of Fashion

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