Author: user user

73 Avenue Realtors opens new headquarters in Colombo 7

73 Avenue Realtors, the Sri Lankan luxury real estate company that emerged during the COVID-19 pandemic by pioneering virtual property experiences, has opened its new headquarters at 103 Barnes Place, Colombo 7, marking a significant milestone in the company’s growth and its ambition to redefine the way real estate is bought, sold, managed and experienced.

Founded in 2020 by Arshad Mohideen and Akram Mohideen, 73 Avenue was established at a time when traditional property viewings had come to an almost complete standstill. With international travel restricted and prospective buyers unable to physically visit properties, the company saw an opportunity to rethink the conventional real estate model.

Rather than simply waiting for the market to return to normal, 73 Avenue introduced an experiential approach to property marketing, pioneering virtual property tours in Sri Lanka and allowing buyers to experience and evaluate properties remotely. Within a short period, 73Avenue established itself as a distinctive player in the market, building a brand around luxury property sales, rentals and investment, while placing a strong emphasis on experience, technology, content and personalised client service.

Today, the company has grown into a team of more than 15 property consultants, servicing an increasingly affluent clientele across Sri Lanka and international markets. Additionally, the company’s ambitions have also expanded beyond Sri Lanka. 73 Avenue has established a presence in Dubai and developed channel partnerships across Australia, Canada and the United Kingdom, creating a wider international network designed to connect Sri Lankan investors with overseas property opportunities while simultaneously taking Sri Lankan real estate to a global audience.

‘For us, real estate has never been just about buying and selling a property, but rather our clients real estate goals,’ said 73 Avenue Realtors Co-Founder Arshad Mohideen. ‘From the very beginning, we have challenged ourselves to look at the industry differently. We started during COVID by asking how we could make property accessible to people who could not physically travel. That mindset of challenging the status quo has remained at the heart of 73 Avenue.’

The new office, which is located in one of Colombo’s most established and prestigious neighbourhoods, has been designed to strengthen 73 Avenue’s ability to deliver a more comprehensive and elevated experience to its clients.

Beyond property sales and rentals, the company is expanding its service proposition to include property management, interior design solutions and real estate portfolio management, allowing clients to access a broader ecosystem of property-related services under one roof.

The move also reflects the changing needs of the company’s clientele, particularly high-net-worth individuals and investors who increasingly view property not merely as a transaction, but as an important component of long-term wealth creation and portfolio diversification.

‘Our clients are looking for much more than a transaction,’ added Director – Growth Javeen Soysa. ‘They want trusted advice, access to the right opportunities, support in managing their assets and, increasingly, a partner who understands their broader real estate portfolio. The new headquarters gives us the platform to build that proposition further.’

Since its inception, 73 Avenue has positioned itself around the belief that the real estate industry can be more innovative, more experiential and more client-centric. From virtual property tours to digital-first property marketing, international partnerships and an expanding suite of property services, the company has sought to move beyond the traditional brokerage model.

As Sri Lanka’s property market continues to evolve and local investors increasingly explore opportunities beyond traditional asset classes and geographic boundaries, 73 Avenue believes the future of real estate will be defined by the quality of advice, experience, technology and relationships built around the property.

‘With this move, we are not simply opening a bigger office. We are building the infrastructure for the next phase of 73Avenue,’ said Director – Operations Akram Mohideen. ‘We want to cement our position as a strong player in the industry while continuing to redefine what a modern real estate company from Sri Lanka can be.’

The opening of the Barnes Place headquarters marks another chapter in 73 Avenue Realtors’ journey; from a company born during a global crisis to a growing regional real estate brand connecting Sri Lankan property with the world, and Sri Lankan investors with the world of global real estate.

Advent Upgrade Solar Inc., Proterial Philippines sign 20-year PPA for first solar PV system in LIMA Estate

Advent Upgrade Solar Inc. (AUSI) and Proterial Philippines Inc. signed a 20-year power purchase agreement (PPA), with the latter’s facility in LIMA Estate, Batangas to source power from a 1,587.20 kilowatt-peak ground-mounted solar photovoltaic system.

Targeted to begin commercial operations in the first quarter of 2027, the project represents the first ground-mounted solar installation within the estate.

‘Through this collaboration, we are taking a meaningful step toward reducing our carbon footprint, enhancing energy efficiency, and contributing to the country’s transition to a more sustainable energy landscape,’ said Proterial Philippines, Inc. President Yoshiaki Yamashita.

‘As a responsible corporate organization, we recognize the growing importance of renewable energy in addressing environmental challenges while supporting long-term economic growth,’ he added. ‘Once operational, the use of the solar PV system is expected to avoid over 1,400 tons of carbon dioxide equivalent annually, or roughly about 28,000 tons over the 20-year term of the agreement.’

Proterial Philippines, Inc. (formerly Hitachi Cable Philippines, Inc. until its 2023 rebranding) is the local manufacturing arm of Japan-based materials manufacturer Proterial, Ltd., and has been a long-standing anchor locator at LIMA Estate since 1997.

‘We are incredibly proud to partner with you on what is the very first ground-mounted solar facility in LIMA Estate. By pioneering this installation, Proterial is setting a new benchmark for industrial sustainability in the region,’ said AUSI Chairperson and Upgrade Energy Philippines President and CEO Ruth Yu-Owen.

‘Together with Proterial and LIMA Estate, we are proving that industrial growth and environmental responsibility can move forward hand-in-hand, and we look forward to building on this partnership over the next 20 years.’

Advent Upgrade Solar Inc. (AUSI) is a joint venture between AboitizPower Distributed Renewables, Inc. (APx) and Upgrade Energy Philippines Inc. (UGEP), which develops, builds, and operates distributed solar solutions catered to large commercial and industrial consumers.

Why I’d die for my children, by Actor Bolanle Ninalowo

Actor Bolanle Ninalowo said his children are the only possession he considers truly his and that he would sacrifice his life for them.

The actor made the statement in an Instagram post shared on Wednesday.

‘The only true thing I own and I would die for: my children. All else is fleeting!’ he wrote.

Ninalowo added that prioritising children helps people make critical life decisions.

‘If you put your children first, you never make a bad decision. When you hit a crossroads moment … you think, ‘What is best for my children?’ If you go that route, then you never make a bad decision. I don’t live for them, but I will die for them,’ he said.

The actor, known for roles in Picture Perfect and Breaded Life, has previously spoken publicly about fatherhood and family values.

AIA and Sri Lanka Insurance Brokers’ Association successfully conclude BeyondRisk 5K

AIA Insurance Lanka Ltd., and the Sri Lanka Insurance Brokers’ Association (SLIBA) successfully concluded the BeyondRisk 5K run, a landmark initiative that brought together stakeholders from across Sri Lanka’s insurance industry in a shared celebration of wellness, networking and collaboration.

The event saw enthusiastic participation from over 1,000 individuals, representing insurance brokers, insurance companies, reinsurance companies, Insurance Regulatory Commission of Sri Lanka (IRCSL), corporate partners, sponsors and fitness enthusiasts.

It provided a unique opportunity for industry stakeholders to strengthen relationships and engage beyond conventional business interactions. Participants enjoyed an energetic morning centred on health and wellness, beginning with the 5K run, followed by interactive games, entertainment and valuable networking opportunities. Smart watches were awarded to the top three finishers, while the first 25 runners to cross the finish line received commemorative medals. All participants were presented with e-certificates in recognition of their achievement.

Sri Lanka Insurance Brokers’ Association President Ainsley Alles said: “The overwhelming response to the BeyondRisk 5K Run reflects the strength and unity of Sri Lanka’s insurance industry. Seeing industry stakeholders come together outside the traditional business environment to build meaningful relationships was truly encouraging.’

As an organisation committed to inspiring healthier living and stronger communities, AIA was pleased to support SLIBA in delivering an initiative that encouraged healthier lifestyles while strengthening connections across the insurance industry.

AIA Insurance Lanka Chief Marketing Officer Sasith Bambaradeniya said: “BeyondRisk 5K Run provided a meaningful opportunity to encourage healthier lifestyles while strengthening connections across our industry. We are proud to have supported an initiative that so closely aligns with our purpose of helping people live Healthier, Longer, Better Lives, and look forward to continuing to drive meaningful wellness initiatives that create a positive impact across the nation.’

The BeyondRisk 5K run marks an important step in promoting greater engagement within Sri Lanka’s insurance community, demonstrating how collaboration beyond business can create a more connected, healthier and stronger industry for the future.

Israeli opposition blames Netanyahu for growing international isolation over West Bank settlements

Israeli opposition politicians have accused Prime Minister Benjamin Netanyahu’s government of pushing Israel into unprecedented international isolation following the United Kingdom’s decision to impose sanctions related to illegal Israeli settlements in the occupied West Bank.

Former Prime Minister Yair Lapid described the British measures as ‘wrong’ but directed his strongest criticism at Netanyahu’s government, accusing it of leading Israel ‘into unprecedented diplomatic isolation.’

According to Lapid, the government was responding to international pressure with little more than ‘rebukes and threats that no one takes seriously.’

Gilad Kariv, a Knesset member from the left-wing Democrats party, similarly blamed Israel’s far-right coalition for the British sanctions, citing the government’s policies concerning Palestinian land in the occupied West Bank.

Kariv said Netanyahu’s government was steering Israel toward ‘international isolation’ and described the prime minister as politically ‘leprous’ on the international stage.

‘The citizens of Israel must not pay the price for his corrupt alliance with the nationalist fanatics,’ Kariv wrote on X, referring to Netanyahu’s far-right coalition.

Former attorney-general backs UK measures

Michael Ben-Yair, a former Israeli attorney-general, went further by welcoming the British measures, despite saying that he did not support punitive action being taken by one of Israel’s allies.

Writing in the Financial Times, Ben-Yair argued that such measures were necessary to preserve the possibility of a political solution capable of providing ‘peace and security for the seven million Jews and seven million Palestinians living between the Mediterranean Sea and the Jordan River.’

Ben-Yair said the distinction between Israel itself and its occupation of Palestinian territory was crucial. He argued that Israel’s legitimacy as a state should be distinguished from the occupation, which he described as ‘morally, politically and legally unacceptable.’

SEC halts Nego Food Solution operations

The Securities and Exchange Commission (SEC) has issued a cease-and-desist order against Nego Food Solution Corp. for its investment solicitation, which the agency finds illegal.

The order covers the company, which owns Japanese restaurant chain Takoyadon, and individuals, such as Noel B. Andres, a certain Marko/Mark Marquez and Celyn/Jocelyn Manzanero.

The agency said it received reports that the company has entered into various co-ownership agreement with several individuals to become a part owner of the company, with Nego Food having full and complete management and control over the operations of the business.

The co-owner will pay a one-time non-refundable fee of P99,000, which will be for SMNV Project Food Corp., whose money will be used by Nego Food for restaurant operations.

There’s also a management operations fee of 3 percent of the gross sales per month basis, which will form part of SMNV Project’s operational expense and a systemwide and marketing fee of 4 percent of the gross sales per month.

The said co-owners will divide net profits of the firm and also share the net loss of Nego Food.

The SEC said the company was selling securities since the public is required to pay a total of P849,000. It noted there is also common enterprise as investors’ monies were pooled.

‘Third, there was clearly an expectation of profits on the part of its investors and were it not for the profit, investors would not part their money. Lastly, the profits are derived primarily from the efforts of others.’

The SEC said the investors had no hand in the management of Nego Food and earned profits by merely investing in said entity.

‘Furthermore, the act of Nego Food Solution Corp. in carrying out its unauthorized investment-taking activities through social media, promoting its unauthorized investment schemes constitute as public offering,’ it said.

The SEC said it will initiate the appropriate administrative and criminal action against any persons or entities found to act as solicitors, information providers, salesmen, agents, brokers, dealers or the like for and in their behalf.

Kuala Lumpur renews southern peace talks support

Malaysia has reaffirmed its commitment to work with Thailand to resolve the long-running southern insurgency, Foreign Affairs Minister Sihasak Phuangketkeow said.

Mr Sihasak’s comments followed his working visit to Kuala Lumpur on Sunday and Monday.

His trip followed Prime Minister Anutin Charnvirakul’s official visit to Malaysia on July 9-10, the Foreign Affairs Ministry said.

In Malaysia, Mr Sihasak met Dato’ Seri Utama Haji Mohamad bin Haji Hasan, Malaysia’s Minister of Foreign Affairs, to discuss bilateral cooperation, especially in the areas of border security, transnational crime, border connectivity and development of border areas to enhance the well-being of the people.

He also held a meeting with the Director-General of Malaysia’s National Security Council (MKN), Datuk Raja Nushirwan bin Zainal Abidin.

The two discussed border security, including closer intelligence sharing and coordination on building security fences along the border to prevent transnational crime and other illegal activities.

Both sides also discussed cooperation relating to the peace dialogue process for Thailand’s southern border provinces, for which Malaysia serves as facilitator.

On border development, Mr Sihasak followed up on discussions between the prime ministers of Thailand and Malaysia and aimed to increase cooperation on projects.

“Both sides have their own plans but lack coordination. Both sides agreed to coordinate to avoid redundant or overlapping work.

“We need to lay out all the plans to ensure we are working in the same direction,” he added.

Mr Sihasak also informed Malaysia that there would be no change to the position of head of the Peace Dialogue Panel for the southern border provinces, currently held by Thanat Suwannanon, Director of the National Intelligence Agency.

The minister said Malaysia’s choice of an individual to facilitate the peace talks has to be suitable and capable of driving the negotiations forward while understanding the situation on the ground.

The 75 incidents across Yala, Pattani, Narathiwat and Songkhla on Aug 22-23 should be read as more than another eruption of violence in a conflict lasting more than two decades.

Speaker Abbas Celebrates Rep Kofa

The speaker House of Representatives, Hon. Tajudeen Abbas has celebrated the member representing Kiru/Bebeji Federal Constituency, Hon. Abdulmumin Jibrin Kofa’s four decade of service as the lawmaker turns 50.

Today, I celebrate my colleague and friend, Hon. Abdulmumin Jibrin Kofa, as he attains the golden milestone of 50.

In a statement, Abbas said that the Kofa has contributed significantly to the development of Kano State and Nigeria particularly through his investment in youths.

The statement read, ‘Turning 50 is more than a birthday; it is a moment to pause, reflect and appreciate a journey already rich in accomplishment, service and impact.

‘Over four terms in the House of Representatives, Abdulmumin has brought to our legislative enterprise a rare combination of intellectual depth, business experience, courage and an unmistakable independence of mind. From his leadership of key committees, including Finance, Appropriations, Land Transport, Foreign Affairs, and Housing and Habitat, his contributions have reflected a strong grasp of public finance and a broad understanding of national affairs.

‘He is, without doubt, one of the sharpest minds in our Parliament. His academic accomplishments, including two PhDs and an MBA, his experience in business and academia, his executive education at leading institutions, and his service at the Federal Housing Authority have all contributed to the distinctive perspective he brings to public service.

‘But beyond the degrees, positions and accomplishments is a man who has never been afraid to speak his mind.

‘Abdulmumin is forthright. He is courageous. He is independent-minded. And he is never one to hide his convictions.

‘In a Parliament, such voices matter. A healthy legislature must have room for principled disagreement, robust debate and legislators willing to speak for what they believe is right and in the interest of their constituents.

‘As you celebrate 50, dear Abdulmumin, I celebrate not only the milestones behind you but also the possibilities ahead.

‘On behalf of the leadership and the entire membership of the House of Representatives, I wish you good health, renewed strength, greater accomplishments and many more years of impactful service to your constituents and our dear nation.

‘May the next chapter be even greater than the first five decades.

‘Happy 50th Birthday, Hon. Abdulmumin Jibrin Kofa.’

Two Bangkok schools closed for 3 months over student brawls

Two vocational colleges in central Bangkok have been ordered closed for three months as repeated brawls between their students have affected public safety and the economy, according to the higher education minister.

Yodchanan Wongsawat issued the order on Wednesday after meeting with police and representatives of the two schools: Pathumwan Institute of Technology and Rajamangala University of Technology Tawan-ok, Uthenthawai Campus.

‘This measure is aimed at restoring confidence to the Siam and Pathumwan areas which are vital to the economy, tourism and education,’ Mr Yodchanan said.

The latest brawl happened at the elevated Siam BTS station on Monday morning when two students were stabbed.

It was reported that dozens of students from each school clashed with each other as nervous commuters looked on, while fewer than 10 police officers were on duty.

Uthenthawai had just resumed on-site education on Monday after being online since Aug 29. Students from both institutions also brawled on Aug 28 and 29.

The Siam station stands at the Pathumwan intersection, roughly halfway between the two campuses, which are only about 800 metres apart. The busiest station on the BTS network, it is a major interchange for commuters and tourists in inner Bangkok. (Story continues below)

‘The problem concerns not only two institutions but also national security, image and confidence,’ Mr Yodchanan said. ‘Pathumwan and Siam are economic, tourism and educational zones. Young people share those areas. So, safety is the priority.’

The suspension of on-site learning at both institutions took immediate effect. Mr Yodchanan said school officials concerned would organise alternative teaching programmes, while looking into speeding up the relocation of both institutions to end the feuds for good.

If solutions are not in place within the three-month period, the closure can be extended, the minister said.

Police would continue to stand guard in the vicinity of both institutions and would strictly enforce the law, he added.

Pol Lt Gen Siam Boonsom, commissioner of the Metropolitan Police Bureau, said leaders of both educational institutions agreed with the temporary suspension and would work out a plan to stop the rivalry.

Clashes between rival vocational college students in Thailand are as old as the schools themselves, but the Pathumwan-Uthenthawai rivalry is particularly notorious. Some brawls have led to fatalities and serious injuries, leading to temporary suspension of classes.

Uthenthawai, which began life in 1956 as Uthenthawai Builders School, sits on land leased from Chulalongkorn University, which has been trying to take back the land since 1975.

The Supreme Administrative Court in late 2023 ordered the school to move but protests from students and alumni have prevented the relocation from going ahead.

Ushakov: US should stop aiding Kyiv

Russian President Vladimir Putin’s foreign policy aide, Yury Ushakov, said on Wednesday that the United States should cease providing any assistance to Kyiv in order to accelerate the ending of the war in Ukraine.

“If we take previous presidencies, when assistance to Kyiv, including military, was massive, then, of course, now under [US President Donald] Trump it has noticeably decreased. This must be recognized,” Ushakov told reporters.

Moreover, Putin’s aide disclosed that he has not seen a roadmap for a negotiated settlement drafted by the US, which probably “no one has seen” yet, and added that Moscow and Washington discussed restarting peace negotiations in a trilateral format during a recent visit by US negotiators to Russia.