Category: Other
Indian market will buy over 1,000 new aircraft by 2030: Airbus
HYDERABAD, March 19 (Asia Pulse) – India will require 1,043 new passenger and cargo aircraft valued at US5 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo. Indian market for new aircraft is the world’s fourth largest in both number […]
‘s flip-flop on cotton exports hurting textile industry: Fitch
NEW DELHI, (Asia Pulse) – Rating agency Fitch said that India’s partial lifting of a ban on cotton exports has led to uncertainty over prices and time of purchasing of the natural fibre by the domestic textile companies. “This uncertainty on cotton price movements could over the long term increase raw material price risk and […]
Sri Lanka tea trade warns of lower orders, prices
Mar 16, 2012 (LBO) – Sri Lanka’s tea trade has warned that tea export orders and prices could fall in the months ahead as crops rise and consumption falls off in key markets. And smallholders, whose returns have been sharply diminishing, find that their operations are increasingly becoming financially unsustainable, the CTTA said. “The prognosis […]
Sri Lanka tea trade warns of threat to Middle East market
Mar 15, 2012 (LBO) – Sri Lanka’s tea industry has called for urgent improvements in productivity and new markets to ride out volatility in major Middle Eastern markets that continue to dampen tea export earnings. January and February tea prices have averaged about 40 rupees a kilo below that of January February 2011. While there […]
Iranian traders default on US37mn payment to India
NEW DELHI, March 15 (AsiaPulse) – Two Dubai-based Iranian private traders have defaulted on payment of Rs 184 crore (US$36.8 million) to nine Indian rice exporters, Parliament was informed Wednesday. There have been payment issues between India and Iran after sanctions imposed by the US. Iran mainly imports basmati rice from India. “Embassy of India, […]
Sri Lanka devaluation seen improving tea export margins
Mar 14, 2012 (LBO) – The fall in the value of the Sri Lankan rupee following a snap devaluation last year has helped tea exporters improve profit margins and regain competitiveness, Finlays Colombo, a top exporter has said. Its chairman Kumar Jayasuriya said the firm had a difficult year in 2011 because of problems in […]
India plans 2G spectrum auction
NEW DELHI, March 14 (AsiaPulse) – India’s Department of Telecommunications plans to start auction of 2G spectrum by December 20 and allocate spectrum to players in March next year. “We will need time at least till December 20 to start auction of spectrum. There are various processes before it and will have to stick to […]
Sri Lanka India venture commissions BOT waste treatment plant
Mar 11, 2012 (LBO) – Sri Lanka’s Puritas (Pvt) Ltd, a unit of the listed Hayleys group and Veolia Water India, a part of a France based Veolia Water has commissioned a waste treatment plant for a new tourist resort on the island’s east coast. Already two of the 13 hotels are running and the […]
Two Indian firms unite to make small tractor
NEW DELHI, March 8 (AsiaPulse) – Chennai-based Tractors and Farm Equipment Ltd (TAFE) has entered into an alliance with Captain Tractors Pvt Ltd (CTPL) to develop and manufacture compact tractors in the sub-20 horsepower segment. “Through this alliance, TAFE aims to offer a complete range of products to the farming community of India,” TAFE Chairman […]
Volkswagen India sales down 8-pct in Feb
NEW DELHI, March 5 (AsiaPulse) – Car-maker Volkswagen on Thursday posted a 7.74 per cent decline in its sales in India at 6,529 units for February. The company had sold 7,077 units in the corresponding period last year. Compact car ‘Polo’ and sedan ‘Vento’ continue to be the backbone for the brand, with a total […]
Sri Lanka lines up bank credit to buy up paddy harvest
Mar 04, 2012 (LBO) – Sri Lanka has lined up 28.5 billion rupees in credit mainly from state banks to buy up an estimated 4. 5 million metric tonnes of paddy in an upcoming main harvest season, the state information office said. Rice farmers are among the special interest groups most favoured by the state. […]
Sri Lanka Lankem retains A-/P2 ratings
Feb 28, 2012 (LBO) – RAM Ratings Lanka has confirmed Lankem Ceylon PLC™s long- and short-term corporate credit ratings of A- and P2. RAM Ratings Lanka has also confirmed the A- long-term issue rating of Lankem™s 500 million rupee unsecured unsubordinated redeemable debentures. “The outlook on the long-term ratings is stable,” a statement said. “The […]