BIZ

Nike to stop using kangaroo skins for its shoes in 2023

Published

1 year ago

March 15, 2023

editor

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.

(Yahoo)

BIZ

Onmax DT ordered to submit plans to refund depositors

Published

22 hours ago

May 2, 2024

nipuni

Colombo Chief Magistrate Thilina Gamage today (May 02) ordered directors of the company – Onmax DT to submit a programme to refund the aggrieved depositors of the Onmax DT pyramid investment scheme.

The 04 company directors previously released on bail also appeared in court today.

The magistrate made the order after considering facts presented in court.

BIZ

CPC slashes fuel prices

Published

3 days ago

April 30, 2024

editor

The Ceylon Petroleum Corporation has reduced fuel prices with effect from midnight today (April 30).

Accordingly,

– Petrol (92) has been reduced by Rs.3/- to Rs. 368/– Petrol (95) has been reduced by Rs. 20/- to Rs. 420/-
– Lanka Auto Diesel has been reduced by Rs. 30/- to Rs. 333/-
– Lanka Super Diesel 4 Star Euro 4 has been reduced by Rs. 9/- to Rs. 377/-

– Lanka Kerosene has been reduced by Rs. 30/- to Rs. 215/-

BIZ

Supreme Global Holdings enters bidding to acquire SriLankan shares

Published

4 days ago

April 29, 2024

editor

Supreme Global Holdings, a conglomerate owned by R.M. Manivannan, has entered the bidding process to acquire shares of the national carrier – SriLankan Airlines.

According to a media release by the company issued in this regard, the Expression of Interest (EOI) process, which concluded last week (Apr 27), saw the participation of Supreme Global, under Sherisha Technologies Private Limited.

Sherisha Technologies Private Limited, formerly known as SunEdison Energy India Private Limited.

Last week it was reported that six (06) Request for Qualification (RfQ) were received from potential investors for the acquisition of shares in SriLankan Airlines Limited.

Sherisha Technologies Private Limited was among the six entities.

Supreme Global Holdings is also known for having formed a robust consortium including MBS Investments, the investment arm of the Private Office of Sheikh Nayef Bin Eid Al Thani of Qatar.

Apart from its recent bidding for SriLankan Airlines, Supreme Global Holdings previously assisted Sri Lanka during the energy crisis faced in 2022, by extending over USD 1.5 billion in credit to Sri Lanka, along with innovative payment solutions such as accepting Sri Lankan rupees for oil payments.