Business
Chemical fertilizer loaded long beforeimport ban, says Agstar
A consignment of nearly 10,000 MT of Prilled Urea costing USD 3.97 million that arrived in Colombo on board MV Emesa on July 12 when the ban of the import of chemical fertilizer was in force had been loaded (in Indonesia) under approval from the National Fertilizer Secretariat on Mar. 6 (when there was no ban), Agstar PLC, the consignee, said in a Stock Exchange filing on Friday.
Thereafter, in or around Mar. 11, the vessel got stuck in the Malacca Strait due to sudden problems in her main engine plus various other technical issues and was unable to arrive in Sri Lanka on or around Mar. 15 as originally envisaged, it said. Eventually the vessel arrived in Colombo on July 12 when the import ban was in force.
The filing said that Agstar had informed “all authorities” about the situation by their letter of May 10.
It also said that it had taken immediate action to arrest the vessel and claimed losses due to substantial delay in its arrival. It is at present under arrest in the Port of Colombo. Agstar said it had paid all Customs and Ports Authority dues and the vessel berthed for discharge.
“Subsequently Customs detained the vessel and requested the Ministry of Agriculture for confirmation of the gazette notification of May 6 (relating to the ban on the import of chemical fertilizer),” Agstar said.
Its filing further said: “Please note that Import and Export (Control) Regulation No. 7 of 2021 issued on or after May 6 only applies to shipments that have a date in the Bill of Lading after May 6, 2021, (that is loaded on or after May 6). Consequently this Regulation has no bearing whatsoever to the above consignment as it was loaded on the vessel way back on Mar. 6, 2021, which is approximately two months prior to the date in the Regulation,” the Agstar filing said.
It further said it was in discussion with the relevant authorities to get the cargo cleared as Agstar had not violated any regulation.
“Further, the above cargo has been ordered with prior approval of the NFS and (is intended) mainly to meet Nitrogen fertilizer requirement in the tea sector,” the filing said. “The company has already obtained approval of NFS to supply the bulk of this cargo to meet the requirements of plantation companies and tea smallholders.”
Agstar said that in the event permission is not granted (“even with the above clear facts”) to clear the cargo, “the company will be compelled to make necessary arrangements to move the cargo to another destination in order to mitigate colossal losses.
It further said that at the moment it does not envisage any substantial financial impact.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
