Category: Other
Legal Overhaul
Mar 28, 2012 (LBO) – An overwhelming majority of Sri Lankan employers have asked for changes in the island’s labour laws, saying they are archaic and actually hinder employment creation and growth. “We firmly believe labour regulation needs an overhaul in line with changes taking place today,” Peiris said. “We do not propose a hire […]
Work Trial
Mar 28, 2012 (LBO) – Sri Lankan employers are seeking the extension of a trial run allowing a five-day work week as part of moves to reform archaic labour laws and improve efficiency, an official said. Ravi Peiris, director general of the Employer’s Federation of Ceylon (EFC), said they have been lobbying with the government […]
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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 […]
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 […]
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 […]
Iran seeks to import tea, wheat, rice from India
NEW DELHI, Mar 23 (Asia Pulse) – Sanction-struck Iran is looking to import four major farm commodities — wheat, rice, sugar and tea — from India, an export body FIEO said. “They (Iranian traders) want to import four major agri commodities from India. They are wheat, sugar, tea and rice,” Federation of Indian Export Organisations […]
Sri Lanka February tea output falls
Mar 22, 2012 (LBO) – Tea production in Sri Lanka in February 2012 fell compared with last year with much of the fall coming from low grown types harvested by small farmers, according to the Tea Board. Low grown teas are produced mainly by small holders who have been hit hard by lower demand from […]
Global financial crisis impacted India significantly: RBI
NEW DELHI, March 22 (Asia Pulse) – The Reserve Bank of India said the global financial crisis has impacted India significantly despite its sound banking system and negligible exposure of banks to sub-prime assets. “The global financial crisis impacted India significantly, notwithstanding the sound banking system, negligible exposure of banks to sub-prime assets and relatively […]
Indian service tax exemption to leave advertisers with surplus funds
NEW DELHI, March 21 (Asia Pulse) – Service tax exemption on advertising on media platforms, excluding TV and radio, could result in availability of up to Rs 1,500 crore (US7 million) more to advertisers for spending on campaigns, according to industry experts. “Given that marketing budgets of companies always take into account the service tax […]
Sri Lanka set to suffer if wheat prices rise: ADB
Mar 19, 2012 (LBO) – Sri Lanka is one of the countries in South Asia whose poor would suffer if prices of commodities like wheat rise further, the Asia Development Bank (ADB) said in a new report. But the study said rapid population growth, changing food consumption patterns linked to higher incomes, and stagnating agricultural […]