Main suspect in major heroin smuggling operation arrested at BIA

The main suspect linked to a major heroin smuggling operation was arrested at the Bandaranaike International Airport (BIA), the police said.The suspect, a Sri Lankan, was arrested after returning to Sri Lanka from India. Among those arrested are a Singaporean, 10 Iranians, two Pakistanis and one Indian. All the suspects have been remanded. (Colombo Gazette) Two others were also arrested today in Negombo, the police said. So far 14 foreigners have been detained in Sri Lanka over the 110kg of heroin worth US$7.5 million seized from an Iranian fishing trawler in the country’s biggest drug bust in nearly three years. read more

Oreo cookie maker Mondelez reports profit revenue shy of Wall Street expectations

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Oreo cookie maker Mondelez reports profit, revenue shy of Wall Street expectations by The Associated Press Posted Feb 12, 2014 2:30 pm MDT FILE – In this Feb. 9, 2011 file photo, a shopper selects Oreo cookies at a Ralphs Fresh Fare supermarket in Los Angeles. Mondelez International Inc. reports quarterly financial results after the market closes on Wednesday, Feb. 12, 2014. (AP Photo/File) NEW YORK, N.Y. – Mondelez reported a fourth-quarter profit Wednesday that fell short of Wall Street expectations as the Oreo maker struggled with cookie sales in China.The company, which also makes Cadbury, Chips Ahoy, Ritz and Trident gum, said its core revenue for the final three months of the year rose 2.5 per cent, primarily as a result of higher volume.Although gum sales in China were strong in the quarter, weak cookie sales dragged down results by a percentage in the “mid-teens.” The company experienced similar problems in the previous quarter, and CEO Irene Rosenfeld had attributed the decline in part to China’s cooling economy.At the time, Rosenfeld said Mondelez was working to address the issues through a variety of measures, such as finding the right package sizes and prices.Looking ahead, Mondelez expects its core revenue to grow about 4 per cent for the year. It had previously forecast growth of 4 per cent to 5 per cent. The company expects adjusted earnings for 2014 to come in between $1.73 to $1.78, better than the $1.71 Wall Street had expected.For the quarter, Mondelez International earned $1.77 billion, or $1 per share. That compares with $569 million, or 32 cents per share, a year ago.But the latest quarter’s results included a sizeable gain tied to the resolution of its arbitration with Starbucks over the breakup of its packaged coffee partnership. Not including such items, the company earned 42 cents per share. That was short of the 44 cents per share Wall Street had expected.Revenue slipped to $9.49 billion. That was also below the $9.6 billion analysts expected. read more