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Sri Lankan shares up 0.56-pct
Sep 29, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors bet on an expected rally in the coming weeks when market liquidity is lifted by refunds from two Initial Public Offerings (IPOs), brokers said.Hatton National Bank closed at 163.25 rupees, up 1.25, while DFCC Bank closed flat at 151.00 rupees. Sampath Bank […]
Sri Lanka spice traders thwart protectionist move
Sept 29, 2009 (LBO) – Sri Lankan spice traders say they have thwarted an attempt by few processors to push the government to impose an export tax that would have benefited their own industries but hurt growers, mostly small farmers.Pepper light berries are used to make high value products from the extracted oil while nutmeg […]
Sri Lanka wage hike seen eroding plantations profitability
Sept 29, 2009 (LBO) – Sri Lankan plantations companies relying mainly on high grown teas such as Maskeliya Plantations and Namunukula Plantations would be worst hit by a recent wage hike, an equities research report says. These are mainly small-holder farmers in the island’s southern districts making low-grown teas, which account for over 60 percent […]
‘s major species at threat: Australian report
SYDNEY, September 29, 2009 (AFP) – Almost 10 percent of the world’s mammals, birds, reptiles, amphibians and fish are in danger of extinction due to climate change and other factors, according to an Australian report released Tuesday.“We have a long way to go, we have discovered and named only about a quarter of Australia’s estimated […]
India drops arms scandal case against Italian: report
NEW DELHI, September 29, 2009 (AFP) – India on Tuesday said it was dropping a graft case against an Italian involved in the arms scandal that ended Rajiv Gandhi’s premiership 20 years ago, the Press Trust of India reported. Solicitor General Gopal Subramanium told the supreme court the case against Italian businessman Ottavio Quattrocchi would […]
Strike forces Air India to suspend ticket sales
NEW DELHI, September 29, 2009 (AFP) – Air India said on Tuesday that about half of its international flights had been cancelled due to a strike by pilots and announced a suspension of new bookings.Nine out of 21 international flights and 37 out of 177 domestic flights were scrapped, spokesman Jitender Bhargava said, after pilots […]
Bharti shares rise as MTN talks deadline looms
NEW DELHI, September 29, 2009 (AFP) – Shares of Bharti Airtel rose nearly two percent in morning trade Tuesday ahead of an expected announcement by the top Indian mobile firm and South Africa’s flagship group MTN on a possible tie-up.Shares of Bharti Airtel were up 1.75 percent or 7.25 rupees at 421.60, a day ahead […]
UN ratchets up criticism of Sri Lankan camps
September 29, 2009 (AFP) – The United Nations on Tuesday issued its strongest criticism yet of Sri Lanka over its continued internment of 250,000 people who fled fighting in the final stages of the island’s separatist war.Walter Kaelin, a representative of the United Nations secretary-general, said civilians held in tightly-guarded camps should be granted freedom […]
Sri Lanka poor governance hindering productivity: expert
Sept 29, 2009 (LBO) – Poor governance, weak institutions, high inflation, high interest rates and protectionism, are hindering efforts by Sri Lanka’s private sector to improve productivity, a trade promotion expert has said.Lloyd Yapa, a former government official who supervised an industrial export drive of the government at one time, also says companies should try […]
Sri Lankan shares close flat
Sep 28, 2009 (LBO) – Sri Lankan shares closed flat Monday, as investors took a break from an overheating market, while the trend is expected to continue for a few more days, brokers said. The All Share Price Index was up 0.05 percent (1.59 points) to end at 2,893.64 while the more liquid Milanka fell […]