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Rage Coffee launched in Sri Lanka (Pics)

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Popular Indian coffee product – Rage Coffee was launched into the Sri Lankan market yesterday (14).

With crystalized coffee beans sourced from Ethiopia and India, Rage promises a superior cup of 100% plant based coffee with a higher caffeine hit coming in a variety of blends to kickstart the day.

The product range features the more cost effective option – Silk Blend range, which includes blends such as Belgian Chocolate, Vanilla Velvet and Creamy Hazelnut. The premium range includes blends such as Irish Hazelnut, Dark Chocolate, Creme Caramel, French Vanilla and Butterscotch Delight.

Rage coffee is exclusively retailed in Cargills outlets while online orders can be placed via its website – www.RageCoffee.lk

The product is a brainchild of Bharat Sethi and was initially launched in 2018 in India. India’s star cricketer – Virat Kohli is also a partner and brand ambassador of Rage Coffee.

It is being brought down to Sri Lanka as a part of the diverse portfolio of imports by Staple Mark, a subsidiary of Cliphs Pvt. Ltd. led by Arunen Vengadasalam, which is one of Sri Lanka’s largest stationery suppliers and distribution.

Addressing the launch, Mr. Arunen Vengadasalam said, “When we discovered how other leading instant coffee producers serve their product we were inspired to look within the market for a product of much higher quality and nutrition. Where other instant coffee producers digress so far as to use the shells of the coffee beans that have fallen on the floor and should actually be disposed of, we sourced a producer who values and prioritizes the finest coffee grounds…”

“Rage is designed to cater to all tastes and preferences. We believe Sri Lanka deserves the best and Rage Coffee is our way of contributing to the rich tapestry of flavours that make this country unique,” he added.

Sri Lanka’s evolving coffee culture, where people are exploring increasingly diverse flavours, has presented the ‘perfect opportunity’ for us to introduce Rage Coffee, he further noted.

In a recorded statement, Mr. Bharat Sethi, founder and CEO of Rage Coffee also extended his thanks to Mr. Vengadasalam and the Staple Mark team for partnering with them and their vision of  “making Rage Coffee the go to and most prolific coffee brand for all Sri Lankans.”

(Pics : Shanika Jayasekara)

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Indigo launches Mumbai-Colombo direct flights

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Indigo has expanded its connectivity to Sri Lanka adding Mumbai-Colombo direct flights from today (12), Airport and Aviation Services (Sri Lanka) (Pvt) Limited said.

Accordingly, Indigo will operate flights three times a week on Tuesdays, Thursdays and Fridays.

At present, Indigo operates to three destinations in India from Colombo (Chennai twice daily, Bengaluru once daily and Hyderabad six days per week). With this new route expansion, this will increase to four destinations, and it will contribute immensely to the development of travel, trade and tourism between Sri Lanka and India. 

With the new addition, Indigo will operate 30 weekly flights to Colombo from four main cities in India.

“AASL recently had successful negotiations with Indigo to commence flight operations between Jaffna and Chennai, India. Accordingly, Indigo will commence direct flight operations between Jaffna and Chennai from June 1, 2024 onwards with daily flight operations. This connectivity will boost travel and trade in the Northern Province, strengthening the cultural and religious bonds between the two nations”, Eng. Athula Galketiya, Chairman of Airport and Aviation Services (Sri Lanka) (Pvt) Limited (AASL) said.

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Questions raised on investing in the Ceylon Dollar Bond

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Personal Foreign Currency Accounts (PFCs) and Business Foreign Currency Accounts  (BFCAs) cannot be invested in the Ceylon Dollar Bond Fund, says a spokesman of the Foreign Exchange Department at the Central Bank of Sri Lanka.

He said that banks are well aware of this.

The spokesman was responding to ‘Sri Lanka Mirror’ on queries raised on social media promotions being done by Ceylon Asset Management Co. Ltd, with regard to such investments.

Ceylon Asset Management Co. Ltd. is also a company that is registered with the CSE.

The spokesman further notes that the CBSL has only permitted them to invest in ISBs.

However, promotions done by the company have indicated that dollar investments can also be done through PFCs, and that the investors can expect around a 24% dollar returns.

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Experts state that expecting such high profits in ISB investments, is questionable.

Upon contacting the DG of Ceylon Asset Management Co. Ltd, – Dulindra Fernando, he briefly stated that the CBSL has permitted their company to do such foreign fund transfers while some banks have refused to do so.

However, he urged to submit a formal request via email for further details.

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SLT divestiture allowed

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The Court of Appeal yesterday vacated the Interim Order issued on the divestiture of the Sri Lankan Government-owned shares in Sri Lanka Telecom PLC.

The Interim Order was earlier issued by Court on April 4 when two Writ applications challenged the proposed divestiture of the Sri Lankan Government-owned 50.23 percent shares in Sri Lanka Telecom PLC and 51.34 percent shares in Lanka Hospitals Corporation PLC.

The petitions were filed by Lyca Mobile SARL, Lyca Leasing Holding Ltd, Pettigo Comercio International LDA and HAIMS International Ltd.

When the petitions were considered before Court of Appeal Judge Mohammed Laffar, Additional Solicitor General Sumathi Dharmawardena appearing for the Deputy Director General and the members of the State Owned Enterprise Restructuring Unit Established under the Finance Ministry, Secretary to the Treasury and the Attorney General raised preliminary objections highlighting several technical errors in the power of attorney and the affidavit submitted is not valid.

Accordingly, the court vacated the said Interim Order on the divestiture of Sri Lanka Telecom PLC and informed the petitioner of this particular petition to submit fresh power of attorney by April 29 and request for an interim order if necessary. However, the Interim Order issued on the divestiture of the shares of Lanka Hospitals Corporation PLC was extended by the court until April 29.

(dailynews.lk)

(This story, originally published by dailynews.lk has not been edited by SLM staff)

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