ODEL launches vivacious Summer Collection
‘Wish you were Here…!
The longing for a place or a face, is something we have all experienced in the past year. Yet the tides have turned, and as life gets slowly back to normal, the ODEL Summer collection, “Wish you were here” celebrates those cherished throwbacks to good times; The love, the laughter and having it all back again. With a range of stylishly comfortable silhouettes, accessories, shoes and bags, the collection welcomes the dawn of a new year, while looking back at those wonderful days with fondness.
Inspired by all things island, ODEL’s Summer collection lives up to its theme of ‘Wish You Were Here’. And indeed, you most certainly will wish you were at ODEL, not just once but everyday this season as ODEL introduces a range of delightful products which are a veritable burst of island blooms and colors that will get you right into a mood of Summer fun and frolic as well as traditional Avurudu celebrations.
You can shop ODEL with complete ease of mind, with a host of bank offers as well as special promotions, to make your Avurudu all the more festive. What’s more, this season you can shop till you drop at ODEL, from 10 AM all the way to 10 PM!
“This season, vibrant blooms will come in to play across ladies’, men’s as well as kids’ categories. The collection comprises of a stunning selection of silhouettes in joyful, celebratory hues such as Red, Orange as well as Green which is the designated auspicious color of Avurudu this year. Sri Lanka being the tropical paradise that it is, we have kept the fabric light and breathable with the perfect blend of cottons and linens, which are well suited to our climate” said Desiree Karunaratne, Group Director Marketing of Softlogic Group.
The overall direction for this Summer’s collection is ‘comfort first’. In the ladies’ line up, you will see cascading shapes with layers and fluidity. Staples such as floral summer dresses, shorts, tropical co-ord sets, palazzo pants, crop tops and cover ups are making a comeback. Wide-leg trousers made for comfort, floaty dresses that could take you from an intimate festive gathering to a tropical get away far from Colombo, paper bag shorts pairable with those breezy tops with billowy sleeves or even a cute little crop top are all must- haves that will soon become your summer favorites.
For LUV Sri Lanka, the ‘Blossoms of Avurudu’ collection capture the essence of this festive period and portrays the beauty and magic that is created by the myriad of flowers that blossom across the island during this time with emphasis being placed on this year’s Avurudu colors which are green, white and blue. Conveyed via water colours by our team of designers, everything you see has been drawn from scratch. We have given special attention to the flowers that are synonymous with the culture and traditions of Sri Lankans, namely Erabadu, Asala, Nilmanel, Saman Pitchcha , Katurolu, Kadupul, Binara and Sapu.
The Men’s collection too revolves primarily around comfort, with tropical shirts, shorts, ombre- tie dye T shirts and crisp white tailored staples included in the collection. With a range of printed, casual shirts that can be paired with a casual short for a day by the pool, or a Chino from our wide collection for an evening out, the ODEL Men’s collection is versatile and interchangeable, working for a whole range of different looks. Not forgetting the wildly popular tie dye tee range by WYOS and Liberation, and the beloved formal range by Davidoff and Fellini, the ODEL Men’s department is fully equipped for all your festive shopping needs.
Cabinet approves rationalization of VAT exemptions and abolition of SVAT System
The Cabinet of Ministers granted concurrence to the resolution forwarded by the Minister of Finance, Economic Stabilization and National Policies to remove most of the releases from Value Added Tax (VAT), further retaining releases that ease the pressure on low – income families to secure the fundamental sectors of the economy as well as the releases for sectors such as education, health and agriculture, as well as to revise the provisions applicable for the Value Added Tax (VAT) act so that the Simplified Value Added Tax (SVAT) methodology can be canceled with effect from 01.01.2024 by introducing a more formal methodology for repaying the Value Added Tax (VAT) and to instruct the Legal Draftsman to prepare a draft bill for the purpose.
Venora Lanka Power Panels to set up assembly plant in Australia
By Hiran H.Senewiratne
Sri Lanka- based, export- oriented manufacturer, Venora Lanka Power Panels (Pvt) Ltd, with a state of the art electric panel factory at the Export Processing Zone, Biyagama, will set up an assembly plant in Australia.
“Once we set up the electric panel assembly plant in Australia, we will export all our panels from Sri Lanka and that plant will do 30 percent value addition to the product to supply that market, the company’s chairman/ Managing Director, engineer Sagara Gunawardena told The Island Financial Review.
Gunawardena said that the company is a value- addition assembly plant and he would be investing AUS $ 2 million for the project to be set up in Melbourne and hire 100 engineers and other professionals. He explained that the venture has enormous potential.
Venora Lanka provides power panels to mega projects in Sri Lanka and exports to Bangladesh, Maldives, Kenya, Ethiopia, Seychelles and Myanmar. Panel assembling is strictly in compliance with IEC 61439 standards, it was explained.
Gunawardena added: ‘I firmly believe that, being a truly customer focused organization, every employee and every process in the organization has to be aligned behind delighting customers. Therefore, at a time when the country is facing a major dollar crisis, my company would be aiming at bringing dollars into the country, while providing employment for local professionals, especially engineers.
‘At Venora Lanka we do not try to change customers’ mindsets. Instead, we take time to understand what they really want and focus our brand on delivering that. Venora is values- driven first and cost- driven second – creating a unique brand proposition.
‘Since the US dollar rate has come down, it is our concern that importers and suppliers do not change their prices, which is really affecting the manufacturing sector.
Company sources added: ‘The company has several wings of operation, such as local and overseas projects, switch board assembling, telecommunication infrastructure installations, earthing, lighting and surge protection, incorporating world renowned brands.
‘Venora Lanka Power Panels is the first Sri Lankan company to receive the licence, in accordance with the UK Trade Mark Act 1994, to use the trade mark “Best Enterprise”. It won a global award at the event, ‘Golden Awards for Quality and Business Prestige’, held in Geneva, Switzerland, in 2015.
‘Within a short span of time, with the perfect blend of progressive thinking and expertise, Venora Group has expanded to consist of, Venora International Projects, Venora Telecom, Venora Industrial Solutions and Venora Lanka Power Panels (BOI approved). Further, Venora has established its overseas presence through Venora Engineering Kenya and Venora Engineering Myanmar.’
Share market moves into positive territory; indices up
By Hiran H. Senewiratne
CSE trading got off to a positive note yesterday but during the last session of the day the momentum slowed. However, the market is now moving towards positive territory following the Central Bank announcement of a downward trend in interest rates, market analysts said.
Amid those developments the market witnesses improvements in both indices and in the turnover.
The All- Share Price Index up by 12.8 points and S and P SL 20 rose by 6.97 points. Turnover stood at Rs 710 million with one crossing. The crossing was reported in JKH which crossed 430,000 shares to the tune of Rs 60.2 million; its shares traded at Rs 140.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 212 million (1.5 million shares traded), Access Engineering Rs 44.7 million ( three million shares traded), Lanka IOC Rs 34.5 million (264,000 shares traded), Browns Investments Rs 28.6 million (5.3 million shares traded), LOLC Finance Rs 23.8 million (4.7 million shares traded), Capital Alliance Rs 22.9 million (615,000 shares traded) and First Capital Holdings Rs 19.2 million (574,000 shares traded). During the day the 31.4 million shares volumes changed hands in 9000 transactions.
Yesterday, the Central Bank’s US dollar buying rate was Rs 285.16 and the selling rate Rs 298.85.
Sagala Ratnayaka leads Sri Lanka delegation to 20th IISS Shangri-La Dialogue
Prices of sixty essential drugs to be reduced from 15th June
Cabinet approval to publish draft bill on contempt of a court, a tribunal or an institution
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