Category: Other
Sri Lanka Agstar Fertilizers buy rice processor
Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya. In the December 2012 […]
Sri Lankan dairy firm to expand capacity, profits up
Feb 17, 2013 (LBO) – Lanka Milk Foods Plc a unit of Sri Lanka’s Distilleries group said it will spend 800 million rupees to expand liquid milk processing and packing capacity at a subsidiary.Lanka Milk Foods’ revenues rose 9.5 percent to 1.41 billion rupees in the December 2013 quarter, expenses rose at a slower 2.6 […]
Shooting
COLOMBO, Feb 16, 2013 (AFP) – Gunmen shot and wounded a Sri Lankan journalist near the capital Colombo, police said Saturday, the latest in a string of attacks on the island’s media.Faraz Shauketaly, a reporter with the privately-run Sunday Leader whose editor was shot dead in 2009, was rushed to hospital for surgery following the […]
Sri Lanka to tighten laws on refuse tea
Feb 08, 2013 (LBO) – Sri Lanka is tightening laws to control the refuse tea prevent malpractices, with draft rules being devised by the plantations industries ministry the state information office said. The proposed laws relating to refuse tea and several off grades had been referred to a cabinet sub-committee headed by minister Susil Premjayantha […]
Sri Lanka tea planters welcome reduction of sudden export tax
Feb 07, 2013 (LBO) – Sri Lanka Planters Association representing large tea growing companies welcome a reduction in a sudden hike in a tea export tax, which was sprung on the industry with no warning or consultation. Sri Lanka’s authorities have a habit of imposing taxes through gazette on citizens without consultation violating fundamental principles […]
‘s Bogawantalawa tea estate profits surge
Feb 06, 2013 (LBO) – Profits at Sri Lanka’s Bogawantalawa Tea Estates Plc, surged to 146 million rupees from a loss of 28 million rupees a year earlier, helped by stronger tea prices, interim accounts show. The firm reported earnings of 1.75 rupees per share during the quarter.In the nine months to December it reported […]
Afghanistan grows 12-pct, inflation 6-pct: IMF
Feb 05, 2013 (LBO) – Afghanistan’s economy is estimated to have grown at a blistering 12 percent rate in 2012 helped by lower inflation of 6 percent and a good harvest, the International Monetary Fund said. Afghanistan was expected to submit a value added tax law to parliament and also fix Kabul Bank. The IMF […]
Sri Lanka Horana tea estate profits up on better prices
Feb 05, 2013 (LBO) – Profits at Sri Lanka’s Horana Plantations Plc, which mainly grows tea rose almost trebled to 100 million rupees in the December 2012 quarter from a year earlier, on stronger tea prices.The firm reported earnings of 4.03 rupees per share for the quarter.In the nine months to December earnings were 6.14 […]
No Visit
Feb 02, 2013 (LBO) – The International Bar Association’s Human Rights Institute (IBAHARI) said visas for a delegation to visit Sri Lanka had been denied by authorities. IBAHARI said the delegation “has been forced to postpone a planned visit to Sri Lanka to assess the rule of law and the independence of the judiciary due […]
Sri Lanka protests rise over sudden tea export tax
Feb 01, 2013 (LBO) – Protests over a sudden export tax slapped on tea intensified with a second industry association joining exporters saying the industry was being progressively decimated by authorities.The Ceylon Tea Traders Association, an apex industry association, said a tax on tea has been virtually doubled “like a bolt from the blue” adding […]
Senator Call
WASHINGTON (AFP) Two US senators on Tuesday renewed calls for an international investigation into potential war crimes in Sri Lanka, accusing Colombo of failing to address legitimate concerns.Senators Patrick Leahy and Bob Casey, prominent voices on foreign policy in President Barack Obama’s Democratic Party, said the island had failed to carry out recommendations from its […]
Resolution
Jan 28, 2013 (AFP) – The US will bring a fresh resolution to the UN Human Rights Council in a bid to force Sri Lanka to deliver on promises to probe its troops for war crimes, top US diplomats announced Monday after talks with Colombo.“The US has decided to sponsor a procedural resolution (against Sri […]