BIZ

McDonald’s formally ends franchisee operations in Sri Lanka

Published

7 months ago

October 25, 2024

editor

US fast-food outlet McDonalds on Friday said it has formally ended its arrangement with its Sri Lankan franchisee, after the operations were suspended in March 2024 over a hygiene issue.

“McDonald’s Corporation and International Restaurant Systems (Pvt) Ltd have entered a legal settlement mutually agreeable to them. The franchise relationship that previously existed between them has ended,” the duo said in a joint statement.

McDonald’s stores across Sri Lanka were shut in March over an issue of poor hygiene which followed a court battle by the local company, which is linked to the Abans Group.

On Friday, McDonald’s Corporation and International Restaurant Systems (Pvt) Ltd said they extended “their gratitude to the public for their support during this period and encourage the public to disregard any rumors or speculation previously circulated in the media”.

The fast-food giant has so far not divulged any plans to whether or not to find another local company to take over the franchisee operations.

(sundaytimes.lk)

(This story, originally published by News1st has not been edited by SLM staff)

BIZ

1st stock of imported coconut milk to undergo clearance, lab testing today

Published

20 hours ago

May 31, 2025

editor

The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

BIZ

BoC employees to strike over unpaid incentives

Published

3 days ago

May 29, 2025

editor

Employees of all Bank of Ceylon (BoC) branches have decided to walk out of service at 12.30 pm today (May 29).

The decision has been taken over the current management not taking the initiative to provide them with the 06-month incentive package approved by the Board of Directors, according to the Bank Employees’ Union.

Central Committee member of the Bank Employees’ Union – Najith Wijeratne, stated that they will initiate a token strike if this issue is not resolved by June 06.

BoC employees have also held lunchtime protests yesterday (May 28) in front of 22 branches in major cities islandwide.

BIZ

Imported salt released to market

Published

3 days ago

May 29, 2025

editor

The National Salt Ltd. says that 2,800 MT of salt imported from India have been released to the market.

It says the food-grade salt stock, which arrived on May 23, is being distributed to the market through local salt sales agents for consumer sale.

The Ministry of Industry and Entrepreneurship Development states that Lanka Salt Ltd. is importing 10,000 MT of salt, while over 100 importers, including those from Pettah, are bringing in an additional 100,000 MT.