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Nike to stop using kangaroo skins for its shoes in 2023



Nike is making a move that will please consumers and animal rights activists alike.

The maker of athletic apparel has announced it will stop using kangaroo skins for its shoes this year, ending a controversial practice.

The move comes weeks after a similar decision from German rival Puma.

Nike said it will be using a proprietary synthetic material that replaces the use of kangaroo leather.

In a statement issued on Monday, Nike will be using the material when it debuts a new line of Tiempo football boots, called the Tiempo Legend Elite.

The line is set to launch this summer.

The company ended its partnership with its only kangaroo leather supplier in 2021.

The decision from Nike and Puma to end the use of kangaroo skin in their football boots comes as a big win for animal welfare activists, who have urged companies to drop unethical practices involving animal cruelty.

“Nike’s announcement is a seismic event in wildlife protection, and tremors will be felt all over the world, especially in Australia where the mass commercial slaughter of kangaroos occurs,” said Wayne Pacelle, president of the Center for a Humane Economy.

The group is behind the campaign “Kangaroos Are Not Shoes,” which it announced in 2020, and has been key instrumental to introducing legislation banning the import and sale of kangaroo products.

A growing generation of younger, environmentally conscious shoppers have also pressed for more sustainability from clothing companies.

California has not allowed products made from kangaroos to be sold or imported into the state since 1971.



Sri Lankan rupee appreciates further




The Sri Lankan Rupee (LKR) further appreciated against the US Dollar (USD) today.

Announcing the official exchange rates, the Central Bank of Sri Lanka (CBSL) declared the buying rate as Rs. 311.26 per USD and the selling rate as 328.60 per USD.

Meanwhile, the Middle Rate of the USD/LKR SPOT exchange rate stood at Rs. 317.31 today.

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Milk Powder prices slashed




Milk Powder importers have decided to reduce the price of imported milk powder products due to a drop in prices in the global market.

Accordingly, the price of a 1Kg and 400g packet of imported milk powder will be reduced by Rs. 200/- and Rs. 80/- respectively.

The price revision will be in effect from next Monday.

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Aliraja to buy state-owned shares in Telecom & Lanka Hospitals!




It was reported that Lycamobile owner Subaskaran Aliraja, who has become the ultimate owner of three radio and television channels in Sri Lanka, has offered to buy state-owned shares in Sri Lanka Telecom PLC and Lanka Hospital PLC.

The Cabinet approved to sell the shares owned by the state in these two companies.

In a notification to the Colombo Stock Exchange, Sri Lanka Telecom PLC and Lanka Hospital PLC said that the sale of these shares will take place as recommended by the State Enterprise Reform Unit established under the Ministry of Finance, Economic Stabilization and National Policy.

The Treasury holds 49.50% of the issued share capital of Sri Lanka Telecom PLC.

Meanwhile, 51.34% of the share capital of Lanka Hospital PLC is held by the Sri Lanka Insurance Corporation on behalf of the State.

How Aliraja owned TV & Radio channels!

Aliraja is currently the owner of EAP Broadcasting Networks which operates two television channels including Swarnavahini and 3 radio channels. 

He also owns Sky Media Networks that operates two TV channels including Sitha TV and 3 Radio channels as well as Max Broadcasting Networks which operates one TV channel and radio channel each.

Although arrangements have been made to show this as a local investment, it is said that this is completely a foreign investment.

However, economists are of the opinion that Aliraja, who has made huge investments in the Indian film industry, taking over these media networks and telecom and communication networks will have a powerful impact on Sri Lanka’s national security and economy.

Swarnavahini deal

The media earlier reported how he invested money in Swarnavahini still remains a secret, and how he had credited the funds from an account which is not under his name to make the investment.

The State Intelligence Service informed the Telecommunications Regulatory Commission (TRC) and the Ministry of Mass Media that several directors of the foreign company, which bought shares of the EAP Group of Companies including the ‘Swarnavahini’ media network which was facing a financial crisis, had maintained close connections with the LTTE.

The Ministry of Defence has informed the TRC and the Ministry of Mass Media on November 15, 2019 through letter number MOD / TEC / 01 / MGMR Network / 2019 (04).

A portion of the assets of EAP Group of Companies had been purchased for Ben Holdings Pvt Ltd.

How Subaskaran violated Companies Act

Today, this company has been able to indirectly obtain 60% ownership of Swarnavahini by violating the laws and regulations of Sri Lanka.

This is because Ben Holdings Private Company has bought 40% of shares while an individual by the name Alex Lowell has bought the remaining 20% of shares.

Meanwhile, 40% of the shares owned by Swarnamahal, EAP Films and other companies belonging to the EAP Business Group are owned by a Singaporean company, Blue Summit Capital.

It was revealed that three members of Ben Holdings Pvt. Ltd had direct links with the LTTE when the company was attempting to buy MGMR Networks owned by MGM Networks Pvt. Ltd.

Before buying a TV channel, the directors of the company that was making the purchase must obtain a clearance certificate from the Defence Ministry. Accordingly, this information was revealed when they were trying to get the relevant clearance certificate.

The directors were not required to obtain clearance certificates from the Defence Ministry when buying Swarnavahini since the license of the TV station was old.

It was revealed that  Subaskaran Aliraja, who was born in Mullaitivu, Sri Lanka and later moved to France and became a millionaire, has funded all parties including Ben Holdings Pvt. Ltd, Blue Summit Capital and Alex Lowell. 

He is said to be a strong financial supporter of the British Conservative Party and former Prime Minister John Major.

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