All Blogs
India suspends exports of onions as prices surge
NEW DELHI, December 20, 2010 (AFP) – India suspended exports of onions, a key food staple, on Monday after prices of the vegetable soared, adding to the government’s inflation woes. Prices of onions — commonly used to add flavour to Indian food — have surged in the past few days to up to 80 rupees […]
Sri Lanka air force gets into model aircraft business
Dec 21, 2010 (LBO) – Warrant Officer N P S Pathirana carefully fixes the rotors of a model MI24 helicopter gunship. Once we go online next year everybody will have access to these models, Nanayakkara said. During the height of the war with the now defeated separatist Tamil Tigers, the Sri Lanka Air Force extensively […]
Sri Lanka onion prices to rise after Indian export ban
Dec 21, 2010 (LBO) – Prices of onions and leeks in Sri Lanka could rise after India’s decision to suspend exports of onions, a trade official said. Sri Lanka imports 4,000-5,000 tonnes of onions a week from India which supplies about 60 percent of the world requirements of onions. Pettah Wholesale Traders’ Association vice chairman […]
Sri Lanka warns US over allegations in WikiLeaks cables
December 21, 2010 (AFP) – Sri Lanka on Tuesday warned the United States to exercise “circumspection” in diplomatic cables after a message released by WikilLeaks suggested Colombo had colluded with murderous paramilitary groups. External Affairs Minister G.L. Peiris told US Ambassador Patricia Butenis that leaked US cables contained “glaring instances of allegations totally unwarranted by […]
Credit Plans
Dec 20, 2010 (LBO) – Sri Lanka’s Sampath Bank is expecting loans to grow 30 percent in 2011 helped by a new push into leisure, renewable power and credit cards as the country recovers from a three-decade war, officials said. Director Ranjith Samaranayake said the award was in part given due to its 3.0 percent […]
Sri Lanka bans felling coconut trees to battle prices
December 20, 2010 (AFP) – Sri Lanka’s government on Monday banned the felling of coconut trees as the island battled a severe shortage of nuts — a dietary staple — and ordered imports for the first time. Coconut development minister Jagath Pushpakumara said the government had outlawed the cutting down of coconut trees in a […]
Chemical Move
Dec 20, 2010 (LBO) – Qatar Petrochemical Company (QAPCO) has opened an office in Sri Lanka to which it supplies ethylene and polyethylene products mainly to the plastic industry, company officials said. QAPCO’s global marketing network comprises of 28 offices and six regional warehouses. “We’ll be marketing low density polyethylene to the Sri Lankan industry,” […]
Garment scraps head for Western living rooms at Christmas
HATIBANDHA, December 19, 2010 (AFP) – Every year, Bangladesh’s garment sector produces billions of dollars worth of high-street clothes for major western brands — and generates mountains of fabric offcuts in the process. While an informal recycling sector has sprung up to deal with the scraps of leftover jeans and T-shirts churned out by the […]
Sri Lanka has good economic prospects, if deficits are cut: World Bank
Dec 19, 2010 (LBO) – Sri Lanka has good growth prospects if deficit spending can be reduced allowing the economy to be stable, and can also expect more financing from World Bank as the island emerges from a conflict, an official said. The US Federal Reserve devalued its currency against gold in 1933 setting the […]
Expert Visit
December 18, 2010 (AFP) – Sri Lanka has softened its stance and agreed to welcome a panel of experts appointed by UN Secretary General Ban Ki-moon to probe alleged war crimes, a minister said Saturday. UN sources said no dates had yet been finalised for the UN experts to visit Sri Lanka, but noted that […]