BIZ

USAID signs agreements with 8 businesses to promote commercial mediation

Published

2 years ago

July 19, 2023

editor

Eight Sri Lankan business conglomerates have signed agreements to pursue commercial mediation to settle disputes as opposed to always using litigation, a move that will help make the Sri Lankan judicial system more efficient and effective by reducing case backlogs.

The United States Agency for International Development (USAID) assisted with development of a memorandum of understanding the eight companies individually signed on Tuesday, July 18, with USAID’s Effective and Efficient Justice (EEJ) activity. The agreements enable the companies to receive commercial mediation training, exposure to international-standard mediation and commercial mediation services and encourages the companies to incorporate a mediation clause into their corporate contracts.

Commercial mediation is a viable alternative dispute resolution (ADR) mechanism that also will help promote investments and commercial development in Sri Lanka.

Nations Trust Bank PLC, Tudawe Brothers (Pvt) Ltd., AKK Engineering, Nawaloka Constructions, Dilmah Ceylon Tea Company, Maga Engineering (Pvt) Ltd., Ranasinha Constructions, and MAC Holdings signed their agreements at a ceremony held at Cinnamon Grand Hotel, Colombo.

The partnerships are part of the commercial mediation pilot program launched by USAID under its EEJ activity. The activity provides training in commercial mediation and other ADR methods for these companies through workshops facilitated by international mediation experts. To improve ADR services in Sri Lanka, the project also trains ADR centers in mediation center management and administration.

“By helping adopt international best practices in case management and court management, and also by improving legal education and promoting and facilitating the use of ADR mechanisms, we hope to see reduced case delays and court backlogs, and promote the principles of people-centered justice,” said Ali Ezzatyar, USAID Acting Mission Director. “We believe that a strong justice system not only ensures the rule of law, but provides easy access.”

Since 2021, USAID’s Efficient and Effective Justice activity has been helping to equip the justice sector with international best practices, systems, and tools.

BIZ

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

Published

22 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.