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Lanka Sathosa
Lanka Sathosa also known as Sathosa is a wholesale and retail chain located in Sri Lanka. It is considered to be the largest state-owned retail chain in the country and was established in 2005. Sathosa was incorporated as a state-owned enterprise under Companies Act no 7 of 2007 and it is regulated by the Ministry of Industry and Commerce. The main function of Sathosa is to set prices of many essential items in the domestic retail market. Nushad Perera was appointed as the chairman of Lanka Sathosa in January 2020. As of 2019, the retail chain expanded its branch of network beyond 400. Sathosa has also guaranteed to sell essential items at concessionary prices during tough times including the coronavirus pandemic in the country. However it has also been widely criticised in recent years for continuous loss making and defaulting on payments to suppliers. Controversies Johnston Fernando was arrested on 5 May 2015 in relation to the non-payment for goods worth more than 5 mill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Chain
A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices. They have come to dominate the retail and dining markets and many service categories, in many parts of the world. A franchise retail establishment is one form of chain store. In 2005, the world's largest retail chain, Walmart, became the world's largest corporation based on gross sales. History In 1792, Henry Walton Smith and his wife Anna established W.H. Smith as a news vending business in London that would become a national concern in the mid-19th century under the management of their grandson William Henry Smith. The world's oldest national retail chain, the firm took advantage of the railway boom during the Industrial Revolution by opening news-stands at railway stations beginning in 1848. The firm, now called WHSmith, had more than 1,400 locations as of 2017. In the U.S., chain stores likely began with J. Stiner & Company, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit. Retailers are the final link in the supply chain from producers to consumers. Retail markets and shops have a very ancient history, dating back to antiquity. Some of the earliest retailers were itinerant peddlers. Over the centuries, retail shops were transformed from little more than "rude booths" to the sophisticated shopping malls of the modern era. In the digital age, an increasing number of retailers are seeking to reach broader markets by selling through multiple channels, including both bricks and mortar and online retailing. Digital technologies are also affecting the way that consumers pay for goods and services. Retailing support services may also include the provision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wholesale
Wholesaling or distributing is the sale of goods or merchandise to retailers; to industrial, commercial, institutional or other professional business users; or to other wholesalers (wholesale businesses) and related subordinated services. In general, it is the sale of goods in bulk to anyone, either a person or an organization, other than the end consumer of that merchandise. Wholesaling is buying goods in bulk quantity, usually directly from the manufacture or source, at a discounted rate. The retailer then sells the goods to the end consumer at a higher price making a profit. According to the United Nations Statistics Division, ''wholesale'' is the resale of new and used goods to retailers, to industrial, commercial, institutional or professional users, or to other wholesalers, or involves acting as an agent or broker in buying merchandise for, or selling merchandise to, such persons or companies. Wholesalers frequently physically assemble, sort, and grade goods in large lo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slave Island
Slave Island ( si, කොම්පඤ්ඤ වීදිය, ta, கொம்பனித்தெரு) also known as Kampong Kertel and Kompanna Veediya is a suburb in Colombo, Sri Lanka, located directly south of the Fort. The suburb contains Beira Lake, a large lake and its esplanade is visited by many for recreation. Slave Island is mostly a commercial area with hotels, shopping centres, street food stalls, and is known for its multicultural, especially Malay heritage. History The name "Slave Island" was coined during the period of British colonial rule and was a reference to the usage of the island under Portuguese rule as a holding area for African slaves, most of them from the Swahili coast and Portuguese East Africa. Many of these slaves later returned to Africa. However, a small group of African descendants are scattered throughout Sri Lanka and are collectively known as Sri Lankan Kaffirs. Demographic Slave Island is a multicultural area known for its mix of Mala ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supermarket
A supermarket is a self-service Retail#Types of outlets, shop offering a wide variety of food, Drink, beverages and Household goods, household products, organized into sections. This kind of store is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or Big-box store, big-box market. In everyday United States, U.S. usage, however, "grocery store" is synonymous with supermarket, and is not used to refer to other types of stores that sell groceries. The supermarket typically has places for fresh meat, fresh produce, dairy, Delicatessen, deli items, baked goods, etc. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothing, and some sell a much w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hypermarket
A hypermarket (sometimes called a hyperstore, supercentre or superstore) is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full grocery lines and general merchandise. In theory, hypermarkets allow customers to satisfy all their routine shopping needs in one trip. The term ''hypermarket'' (french: hypermarché) was coined in 1968 by French trade expert Jacques Pictet. Hypermarkets, like other big-box stores, typically have business models focusing on high-volume, low-margin sales. Typically covering an area of , they generally have more than 200,000 different brands of merchandise available at any one time. Because of their large footprints, many hypermarkets choose suburban or out-of-town locations that are easily accessible by automobile. History Canada Loblaws established its Real Canadian Superstore chain in 1979. It sells mainly groceries, while also re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big-box Store
A big-box store (also hyperstore, supercenter, superstore, or megastore) is a physically large retail establishment, usually part of a chain of stores. The term sometimes also refers, by extension, to the company that operates the store. The term "big-box" references the typical appearance of buildings occupied by such stores. Commercially, big-box stores can be broken down into two categories: general merchandise (examples include Walmart, Target, and Kmart), and specialty stores (such as The Home Depot, Barnes & Noble, or Best Buy), which specialize in goods within a specific range, such as hardware, books, or consumer electronics, respectively. In the late 20th and early 21st centuries, many traditional retailers and supermarket chains that typically operate in smaller buildings, such as Tesco and Praktiker, opened stores in the big-box-store format in an effort to compete with big-box chains, which are expanding internationally as their home markets reach maturity. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sri Lankan Rupee
The Sri Lankan Rupee ( si, රුපියල්, ta, ரூபாய்; Currency symbol, symbol: Re and Rs (plural) in English, රු in Sinhala, ௹ in Tamil; ISO 4217, ISO code: LKR) is the currency of Sri Lanka. It is subdivided into 100 cent (currency), cents, but cents are rarely seen in circulation due to its low value. It is issued by the Central Bank of Sri Lanka. The abbreviation ''Re'' (singular) and ''Rs'' (plural) is generally used, the World Bank suggests SL Rs as a fully disambiguating abbreviation for distinction from other currencies named "rupee". History pound sterling, Sterling became Ceylon's official currency in 1825, replacing the Ceylonese rixdollar at a rate of £1Pound sterling, stg = rixdollars, and British silver coin was made legal tender. Treasury notes denominated in sterling were issued in 1827, replacing the earlier rixdollar notes. Rixdollar notes not presented for exchange were demonetized in June 1831. The Indian rupee was made ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Industry And Commerce (Sri Lanka)
The Ministry of Industries ( si, කර්මාන්ත අමාත්යාංශය; ta, கைத்தொழில் அமைச்சு) is a cabinet ministry of the Government of Sri Lanka responsible for industry and commerce. The ministry is responsible for formulating and implementing national policy on industry and commerce and other subjects which come under its purview. The current Minister of Industries is Ramesh Pathirana. The ministry's secretary is Chinthaka S. Lokuhetty. The biggest government controlled wholesale and retail chain known as the Lanka Sathosa falls under this ministry. The acronym SA-THO-SA is believed to be derived from the Sinhalese name "SAmoopakaara THOgaveladhaam SAngsthava", i.e., ''Cooperative Wholesale Establishment''. Ministers Secretaries References External links * {{authority control Industries Sri Lanka Sri Lanka (, ; si, ශ්රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic In Sri Lanka
The COVID-19 pandemic in Sri Lanka is part of the ongoing worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by the severe acute respiratory syndrome coronavirus 2 () virus. The first case of the virus in Sri Lanka was confirmed on 27 January 2020, after a 44-year-old Chinese woman from Hubei, China, was admitted to the Infectious Disease Hospital in Angoda, Sri Lanka. As of 1 September 2021, a total of 462,767 COVID-19 cases had been recorded in the country, 386,509 patients had recovered from the disease, and 10,140 patients had died. The first reported case involving a Sri Lankan outside the country was reported in Italy on 3 March 2020. As of 23 March 2020, forty-five quarantine centres had been built in the country by the Sri Lanka Army as a preventative measure in an attempt to stop the spread of the pandemic. Nearly 3,500 people were placed under quarantine in 45 quarantine centres, including 31 foreigners from 14 countries. As of 25 March 2020, Sri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Johnston Fernando
Johnston Xavier Fernando (born 5 December 1964) is a Sri Lankan politician, former Cabinet Minister, Chief Government Whip and a current member of the Parliament of Sri Lanka from the Kurunegala District. He belongs to the Sri Lanka Podujana Peramuna. He is considered a leader of the Rajapaksa loyalist mobs that carried out violent attacks against peaceful protestors during the 9 May 'Black Monday' incident of the 2022 Sri Lankan Protests. Controversies Corruption Johnston Fernando was arrested on 5 May 2015 in relation to the non-payment for goods worth more than 5 million rupees but was released on bail amounting to Rs. 25,000 and three sureties worth Rs. 2.5 million each. He is also being investigated on financial irregularities connected to Lanka Sathosa during his tenure as the Cooperatives and Internal Trade Minister. The bribery commission also filed a case against him for failing to declare assets and liabilities from 2010 to 2014. In January of 2022 Johnston Fer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rishad Bathiudeen
Rishad Bathiudeen is a Sri Lankan parliamentarian and former senior cabinet minister. He is the leader of the All Ceylon Makkal Congress (ACMC) Party, a registered political party in Sri Lanka. Bathiudeen was elected as a Member of Parliament (MP) from the Vanni Electoral District in December 2001 and was re-elected in April 2004, after which he was again re-elected in April 2010 and 2015 June from the same Electoral District which comprises Vavuniya, Mannar and Mullathivu Administrative Districts. Rishad Bathiudeen holds a National Diploma in Technology (NDT) in Civil Engineering from the University of Moratuwa, Sri Lanka and is also a member of the Chartered Institute of Engineering (C.I.E.) in the UK. On 19 October 2020, he was arrested by the Criminal Investigation Department during a raid in Dehiwela, where he is charged with criminal misappropriation of public funds, and violation of election laws with regard to the transportation of IDPs in government-owned SLTB buses to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
