Category: Other
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 […]
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 […]