Author: lbostgadmin
Sri Lanka warns of threat to EU market access
Mar 26, 2012 (LBO) – Sri Lanka’s exports to Europe are growing despite recession there but its markets could be threatened by easier access given to competing export nations, an official said. Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka, said in 2011, Sri Lanka exported 3. 6 billion US dollars worth of […]
Sri Lanka exports fall in January, trade gap up
Mar 26, 2012 (LBO) – Sri Lanka’s exports fell 0. 6 percent to 917.7 million US dollars in January 2012 from a year earlier with a sharp drop in tea, while industrial exports grew at a sluggish 3. 3 percent, while imports powered ahead, official data showed. Exports Last year, Sri Lanka’s exports grew 22.4 […]
Sri Lanka NDB mulls renewable energy project funding
Mar 26, 2012 (LBO) – National Development Bank said it is considering funding projects to generate energy from bio-mass, waste and solar having given loans to support hydro and wind power plants. They were among several key sectors identified by NDB’s project finance division for lending to support economic growth in post-war Sri Lanka, a […]
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PERTH, March 26 (Asia Pulse) – India will eventually take over from China as the main engine of growth for the iron ore market but its consumption will be less intense, an analyst says. Markets shuddered this week when BHP Billiton said Chinese demand for the steel making commodity was flattening. Compounding the new sober […]
Sri Lanka tea prices seen hit by Middle East unrest
Mar 26, 2012 (LBO) – Sri Lankan tea prices perked up after the recent depreciation of the rupee against the dollar but unrest in the Middle East, a big market, will act as a drag on further increases, brokers said. “The general trend of declining prices witnessed from the second half of 2011 is expected […]
Sri Lanka shares end up 0.4-pct
Mar 26, 2012 (LBO) – Sri Lankan shares closed firmer Monday with an increase in trading by foreign investors who ended up as net sellers, brokers said. The main All Share Price Index rose 0. 37 percent (20.29 points) to 5,442.62, while the more liquid Milanka index rose 0.56 percent (27.21) to close at 4,875.07. […]
Sri Lanka told proper economic management key to prosperity
Mar 25, 2012 (LBO) – Proper economic management is the key to prosperity, not whether a country is resource-rich or poor, a top Japanese economist has told Sri Lanka. Price stability is also necessary for development and should be considered a priority by policymakers, said Hirohisa Kohama, professor in the faculty of international relations, the […]
American Indulgence
Mar 25, 2012 (LBO) – A concession granted by the United States to Sri Lanka on its sanctions on Iran means the island would not face an immediate total ban on importing crude from the Persian Gulf country, a report said. United States has asked Sri Lanka to scale down crude oil imports from Iran […]
Indian cotton exports possible in case of surplus: Sharma
NEW DELHI, (Asia Pulse) – Notwithstanding lifting of ban on cotton exports, Commerce Industry and Textiles Minister Anand Sharma has said India will not be able to ship the natural fibre abroad unless it has surplus. “… we will be in a position to export (cotton), when we have that surplus again,” he said at […]
‘s 500 best
NEW DELHI, (Asia Pulse) – As many as six Indian brands including — Tata, Airtel, State Bank of India, Reliance, Indian Oil Corporation and Infosys — have been named amongst the world’s 500 best brands this year by global consultancy firm ‘Brand Finance’. The Tata is the only Indian brand making it to the top […]
Sri Lanka Mackwoods Energy share issue oversubscribed
Mar 23, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited was oversubscribed on the opening day Thursday, registrars to the issue S S P Corporate Services said in a stock exchange filing. “The funds are expected to be used to finance the working capital requirements and part finance the company’s […]
Indian banks should open 25% branches in unbanked areas: RBI
JAMMU, March 23 (Asia Pulse) – The Reserve Bank of India asked banks to comply with the prescription of opening at least 25 per cent of new branches in a year in unbanked areas with a population less than 10,000. “At RBI we have said at least 25 per cent of all the branches opened […]