Category: Other
Sri Lanka tea crop hit by bad weather
Mar 30, 2012 (LBO) – Tea production in Sri Lanka has been reduced by bad weather with crops in other key origins like Kenya and India also down for the same reason, brokers said. “Due to the extremely hot and humid conditions, plantations are experiencing dwindling intakes,” tea brokers John Keells said. “It is reported […]
‘s Godrej Properties to sell shares at Rs575
MUMBAI, March 29 (AsiaPulse) – Godrej Properties (BSE:533150) on Monday fixed the price for its issue of shares to institutional investors at Rs 575 a share, the lower end of the price band, and would raise up to Rs 471 crore (US$92.8 million) for reducing debt and acquiring projects. The share price fell by 3.38 […]
Sri Lanka tea prices recover
Mar 29, 2012 (LBO) – Prices of Sri Lankan tea, especially those grown at low elevations, perked up at this week’s auction, giving some relief to producers battered by rising costs and reduced demand in key markets. “The 3.0 million kilos of low grown teas that came under the hammer this week met with excellent […]
Indian gold loans to slow after new curbs: rating agency
NEW DELHI, March 28 (AsiaPulse) – The Reserve Bank of India (RBI)’s recent guidelines for the gold loan sector will significantly moderate the growth and profitability over the next year, said a Crisil report. “Business growth is likely to fall from 80 per cent per annum to 20-25 per cent per annum and return on […]
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 […]