Category: Other
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 […]
Adani group to invest $6b in overseas expansion
MUMBAI, (Asia Pulse) – India’s diversified Adani Group said it will invest US$6 billion in overseas expansion by 2015, mainly in Australian mining and related assets. “We will be investing US billion into our overseas assets (spread in Australia and Indonesia) by 2015,” group Chairman Gautam Adani told reporters here after unveiling a new corporate […]
Sri Lanka fisheries protection seen needed to maintain market access
Feb 24, 2012 (LBO) – Sri Lanka needs an effective fisheries protection programme to implement the sustainable policies that are required to ensure continued market access for its fish exports, a fisheries and maritime security expert has said. A fully integrated fishing vessel monitoring and fisheries protection programme to fight poaching would also enable Sri […]
Sri Lanka over-fished by estimated 600 illegal vessels: report
Feb 19, 2012 (LBO) – The sea around Sri Lanka is facing the danger of being overfished by an estimated 600 illegal vessels a day, and marine reserves may have to be declared to conserve fish stocks, a media report said. The Sunday Times newspaper quoting John Church, an international fisheries and maritime security specialist […]
India asks state banks not to overstate profit
NEW DELHI (Asia Pulse) – The Indian Finance Ministry has written to all public sector banks asking them to ensure profits are not overstated and to make appropriate provisions for bad loans. In a letter to heads of public sector banks, the Finance Ministry said “instances of over-reporting of profit have been continuing year after […]
Sri Lanka tea prices rise after rupee depreciation
Feb 17, 2012 (LBO) – Prices of Sri Lankan teas rose at the Colombo auctions this week with brokers attributing the increase to the fall in the value of the rupee against the dollar after the central bank stopped defending the currency. “There was improved demand,” Forbes & Walker Tea Brokers said in a report. […]
Sri Lanka seen needing big investments to lift estate living standards
Feb 17, 2012 (LBO) – Sri Lanka’s plantations still need huge investments to upgrade the living standards of workers, some of which would have to come from buyers through higher prices, an official said. In recent years investments had been made in housing, roads, water and sanitation, child development and nutrition by plantations companies with […]
Sri Lanka fishermen shot to death in fuel protest
Feb 16, 2012 (LBO) – A Sri Lankan fisherman was shot and killed as police quelled a protest following protests after a weakening exchange rate forced a sudden fuel price increase to reduce credit financed losses in the largely state-run energy sector. The Island newspaper said both police and the military were involved in quelling […]
Sri Lanka Kelani Valley Plantations December net up 13-pct
Feb 16, 2012 (LBO) – Sri Lanka Kelani Valley Plantations said December 2011 quarter net profit rose 13 percent to 187 million rupees from a year ago as tea and rubber prices fell and costs rose. December 2011 quarter sales of the firm, which is part of the Hayleys group, rose 48 percent to 1. […]