Biz Briefs

Mobitel Cash Bonanza winners awarded

Mobitel recently concluded the grand Cash Bonanza prize given for February and March 2014, which saw winners receive cash prizes worth over a staggering Rs. 29 million.

Ten pre-paid customers and six post-paid customers of Hakuruwela, Gampaha, Hatton, Anuradhapura, Kurunegala, Payagala, Kiribathgoda, Mirigama, Palugaswewa, Uda Walawa, Galenbindunuwewa, Piliyandala, Thunkama, Galathara, Agoda and Kadawatha emerged winners receiving Rs. 500,000 each.

Throughout 2014 the Cash Bonanza draw will distribute cash prizes worth Rs. 150 million to Mobitel customers countrywide.

Ban on Indian mango imports

An EU-wide ban on mangoes from India has come into force, halting imports into the UK potentially until December 2015. The ban also includes aubergines, two types of squash, and a type of leaf used in Indian cooking.

Shipments of mangoes were suspended into Europe after consignments were found to be infested with fruit flies. The UK imports around £6.3 million worth of Indian mangoes per year out of a UK mango market worth £68 million in total.

Non-European food pests were found in 207 shipments of fruit and vegetables in 2013. Indian mango exporters said they have put checks in place and have approached the authorities in Brussels to try to get the ban lifted.

“Since we got to know about the issue in March, we've put in place an elaborate examination and certification procedure that addresses the issue raised by the EU,” said Director General Ajay Sahai of the Federation of Indian Export Organisations (FIEO), a body affiliated with the Indian Department of Commerce.

Local prices for mangoes fell around 15% in the few days before the ban came into force, Mr Sahai said. The UK imports a total of 56,205 tonnes of mangoes per year, of which 4,816 tonnes, or 8.5%, come from India.

Premium Alphonso mangoes, which are popular in the UK, are in season as the ban comes into force.

- BBC

IMF approves $17b Ukraine bailout package

The International Monetary Fund (IMF) has approved a $17.1 billion (£10.1 billion) bailout for Ukraine to help the country's bele guered economy.

The loan comes amid heightened military and political tension between Ukraine and neighbouring Russia. The loan is dependent on strict economic reforms, including raising taxes and energy prices. The money will be released over two years, with the first installment of $3.2 billion available immediately.

The head of the IMF, Christine Lagarde, said the IMF would check regularly to ensure the Ukrainian government followed through on its commitments. In March Ukraine put up gas prices by 50% to secure the bailout.

The government has also agreed to freeze the minimum wage. The bailout had to be approved by the IMF's 24-member board, which includes a Russian representative.

The IMF loan will also unlock further funds worth $15 billion from other donors, including the World Bank, EU, Canada and Japan.

In December last year, Ukraine agreed a $15 billion bailout from Russia, but this was cancelled after protests forced out pro-Russian President Viktor Yanukovych.

HNB opens ATM at CTC

Hatton National Bank (HNB) opened its 417th ATM at Ceylon Tobacco Company (CTC) recently. Here HNB, Managing Director and Chief Operating Officer, Jonathan Alles and CTC Managing Director and Chief Operating Officer Felicio Ferraz at the opening.

CASL appoints new training partners

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has appointed BPO Connect (Pvt) Ltd, Abans Auto (Pvt) Ltd and Abans Electricals PLC as training partners.

CA Sri Lanka President Arjuna Herath awarded the training partner certificate to BPO Connect, Abans Auto and Abans Electricals officials at the institute recently.

CASL, Vice President Lasantha Wickramasinghe, Chairman, Student Training and Development Committee, Manil Jayasinghe, Alternative Chairman Sanjaya Bandara and Chief Executive Officer Aruna Alwis were also present.

Japanese Ambassador commends Tokyo Cement

Japanese Ambassador Nobuhito Hobo commended Tokyo Cement Company (Lanka) PLC for its services to deepen mutual understanding and friendship between Japan and Sri Lanka.

Tokyo Cement was incorporated in 1982 by the late A. Y. S. Gnanam with Mitsui Mining Company of Japan.

The company kept operating even in difficult times to become one of the leading cement companies in Sri Lanka.

amanté launches swimwear range

Lingerie brand amanté has channelled its state-of-the-art technology and skills of its designers to create a swimwear line to suit varying needs.

The range covers a spectrum of styles scaling from sophisticated, chic to adventurous and subtly sensual.

The amanté swimwear range and its premium lingerie, sportswear and sleepwear, is available at its Racecourse boutique.

Hameedia launches ‘Shower Clean Suit’

Hameedia, one of Sri Lanka’s leading menswear specialist recently introduced its latest innovation, the Shower Clean Suit.

This state-of-the-art suit is part of the Envoy Classic collection and is a cutting-edge creation that applies special water repellent technology to keep the suit completely dry and clean. Removing difficult stains is also easy.

The suit provides ultimate protection against water and it also prevents oil stains.

The suit is convenient for travel as it does not crease. Therefore, no ironing is needed and can be cleaned without much effort.
 

SLIM to train Harcourts staff

Harcourts (Pvt) Limited, a pharmaceutical, nutraceutical and cosmetic company, with a staff of over 1,000 people, signed a Memorandum of Understanding with the Sri Lanka Institute of Marketing to conduct professional programs for their over 500 marketing and retail staff.

Harcourts which celebrated its 25th year anniversary at the beginning of this year, is the fifth largest importer of pharmaceuticals in Sri Lanka

Piyawara pre-school for children of Veheratenna

A three-roomed community Piyawara pre-school funded by Sri Lankan cricketer and ICC international match referee Roshan Mahanama and constructed by the Army’s 62 Division, on a voluntary basis, was opened recently at Veheratenna, a small resettled village, 20 kilometres off Kebethigollawa.