BIZ

JAT Holdings invests SL-earned USDs in its Bangladeshi Facility

Published

2 years 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.

BIZ

Trishaw fares revised

Published

9 hours ago

October 9, 2024

editor

Three-wheeler fares have been revised as of today (Oct. 09).

According to Mr. Jeewinda Keerthiratne, who heads the three wheel bureau of the Road Passenger Transport Authority, the first kilometer remains at Rs. 100 while the second kilometer will be Rs. 85.

BIZ

Egg prices spike again

Published

19 hours ago

October 9, 2024

editor

Egg prices have upped again after the recent price drop.

The price of an egg was seen reduced to Rs. 30 in local markets recently but had spiked to over Rs. 40 this week.

Chairman of Sri Lanka Livestock Producers Association – Ajith Gunasekara stated that several factors have impacted the relevant price hike.

Speaking at yesterday’s Cabinet briefing, Cabinet spokesman – Minister Vijitha Herath said that they are looking to stabilize the prices of chicken feed which will in return control egg prices.

BIZ

Prof. Hareendra Dissabandara returns as SEC Chairman

Published

2 days ago

October 8, 2024

editor

Senior Professor Hareendra Dissabandara has been appointed as the new Chairman of the Securities and Exchange Commission of Sri Lanka (SEC).

He had previously served as SEC Director General from 2012-2013 as well as its Director of Financial Services Academy and Capital Market Education and Training Division from 2008-2012.

Dissabandara is a Senior Professor of Finance and Corporate Governance in the Department of Finance of the Faculty of Management Studies and Commerce at the University of Sri Jayewardenepura.

Prof. Dissabandara takes over from Faizal Salieh, who was appointed to the post by former President Ranil Wickremesinghe in 2023 February.