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India plans launch sale of 4G mobile services: report
NEW DELHI, April 14, 2010 (AFP) – India plans to hold an auction of ultra-high-speed fourth-generation (4G) mobile phone spectrum soon after completion of 3G access now underway, a report said Wednesday. It will also heat up the battle for customers in the world’s fastest-growing mobile market. The Telecom Regulatory Authority of India (TRAI) has […]
Iran to buy more Sri Lankan tea: government
April 14, 2010 (AFP) – Iran plans nearly to double its purchase of Sri Lankan tea, the island’s main export commodity, Sri Lanka’s government said Wednesday, announcing a move that could boost tea prices. Sri Lanka’s tea promotion board said they expected the Iranian move to further strengthen prices, which have risen by 29. 47 […]
” petroleum price formula: Central Bank
April 14, 2010 (LBO) – Sri Lanka needs a price formula to match import costs to retail prices as a part of a reform of the energy sector, the Central Bank said as the state petroleum utility lost 12. 3 billion rupees in 2009. “A realistic pricing formula needs to be developed to price petroleum […]
‘s Tata Tea in joint-venture talks
NEW YORK, April 12, 2010 (AFP) – US soft-drinks and snacks giant PepsiCo and India’s Tata Tea will explore the formation of a joint venture in “healthy” non-carbonated beverages, the companies said in a statement received Monday. “More details will only be available once the definitive agreements for the joint venture are finalized and executed, […]
Sri Lanka state power, petroleum utilities could be listed: Central Bank
Apr 13, 2010 (LBO) – Units of Sri Lanka’s state petroleum and power utilities could be listed in the Colombo Stock exchange to broad base their ownership and make them more transparent and accountable, the Central Bank has said. Last year the state-run Ceylon Petroleum Corporation had lost 12. 3 billion rupees partly due to […]
Sri Lanka exporters demand streamlined customs
Apr 13, 2010 (LBO) – Sri Lankan exporters have called for more streamlined customs clearance to help reduce costs and be more competitive in overseas markets. Although clearing facilities are available for airfreight cargo round-the-clock, seven days of the week, “in regard to other cargo only perishable cargo is provided such a facility,” the NCE […]
Sri Lanka president calls for unity in New Year message
April 13, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse Tuesday appealed for unity as the country prepared for its first traditional New Year after the end of a 37-year civil war. Rajapakse said he was seeking peace and reconciliation between his majority Sinhalese and the ethnic Tamil minority ahead of celebrations for Wednesday’s New […]
Sri Lanka Treasuries flat ahead of traditional New Year
Apr 12, 2010 (LBO) – Sri Lanka’s Treasury bills yields were flat at Monday’s auction, held early ahead of a two-day holiday for a traditional New Year, following a fully rejected auction a week earlier. The government’s debt office said 3-month bills were sold at 8. 52 percent, 6-month bills at 9.24 percent and 12-month […]
Sri Lanka shares end up 0.49-pct
Apr 12, 2010 (LBO) – Sri Lankan stocks closed firmer Monday with some large deals done while activity petered off towards the end of trading ahead of a long holiday this week although sentiment remained positive, brokers said. “Investors are placing buy orders but at lower levels compared to prevailing prices.” There were several large […]
Bunker Business
Apr 12, 2010 (LBO) – Indian Oil Corp’s Sri Lankan unit aims to expand bunker sales by selling fuel to ships passing the island, a much bigger market than the vessels which call at Colombo port, officials said. With bunker prices falling and the price difference between Colombo and Singapore narrowing, more ships have begun […]