Category: Other
Sri Lanka tea industry poverty still high: FAO
Jan 30, 2012 (LBO) – Poverty levels in Sri Lanka’s tea industry are still too high and need to be addressed as a matter of priority, a senior official of the Food and Agriculture Organisation said. The FAO is also involved in the island’s tea industry and is supporting the National Institute of Plantations Managements […]
US fast food co Quiznos plans to open 150 outlets in India
NEW DELHI, Jan 30 (Asia Pulse) – American quick service restaurant brand QUIZNOS is expanding in India with plans to set up around 150 outlets in the northern and western regions of the country in the next five years. Quiznos, which has entered into a master franchise agreement with Delhi-based restaurant management company Sub-one Hospitality […]
We are creating jobs in US, Europe: India industry to Obama
DAVOS, (Asia Pulse) – With HCL Technologies announcing 10,000 jobs for locals in the US and Europe, India Inc on Thursday chose the WEF meet to send a strong message that Indian IT firms are creating and not stealing jobs in troubled western economies. Also, a message emerged from British Prime Minister David Cameron’s advice […]
Sri Lanka production for tea bags up in 2011
Jan 27, 2012 (LBO) – Sri Lanka’s production of CTC (crush, tear, curl) type teas, used mainly in tea bags, rose sharply in 2011, although overall output was slightly lower than the record crop in 2010, brokers said. The Sri Lanka Tea Board said annual production for 2011 was 328.3 million kilos, about one percent […]
India, Pakistan closer to oil deal import from Turkmenistan
NEW DELHI, Jan 27 (Asia Pulse) – India and Pakistan are closer to agreeing on a transit fee and a joint strategy to develop gas fields and import the hydrocarbon via a pipeline from the Central Asian Republic of Turkmenistan, oil ministers of two countries said. The statements came during joint press conference by Indian […]
Sri Lanka Watawala Plantations December net down 39-pct
Jan 27, 2012 (LBO) – Sri Lanka’s Watawala Plantations said December 2011 quarter net profit fell 39 percent to 158 million rupees from a year ago, with a profit expected in the last quarter as well after losses earlier in the year. The company said that strong palm oil prices had helped cushion a fall […]
Hitachi Tata J/V makes large trucks in India
TOKYO, Jan 25 (AsiaPulse) – Hitachi Construction Machinery Co. (TSE:6305) has begun Indian production of huge dump trucks used in large-scale mine development projects. Telco Construction Equipment Co. (Telcon), a joint venture with Tata Motors Ltd. (BSE:500570), is manufacturing the trucks. Hitachi Construction invested 22 billion yen (US$283 million) in the venture in 2010 to […]
Sri Lanka investments sought by Maldives
Jan 25, 2012 (LBO) – The Maldives is seeking more investments from Sri Lanka and plans to set up an investment agency similar to Sri Lanka’s Board of Investment, officials said. “A lot of Sri Lankan products are coming to the Maldivian market – new brands are being introduced.” Niyaz said Sri Lankan investments in […]
Sri Lanka hosts international tea meeting
Jan 25, 2012 (LBO) – Sri Lanka will host a key meeting of officials from major tea producing and consuming nations in a United Nations body next week, helping boost its image as it starts a global marketing campaign. The 20th Session of Food and Agriculture Organisation™s Inter-Governmental Group on Tea will meet in Colombo […]
Sri Lanka bought leaf tea factory makes loss
Jan 24, 2011 (LBO) – Sri Lanka’s Tea Smallholder Factories Plc, a unit of John Keells Holdings said it lost a million rupees in the December 2012 quarter compared with a 41 million a year earlier, as revenues fell. . Revenues fell 17 percent to 510 million rupees in the quarter while cost of sales […]
Indian regulator fines 17 entities for securities fraud
MUMBAI, Jan 23 (AsiaPulse) – Indian regulator Sebi has imposed penalty totalling Rs 24 lakh (US$47,788) on 17 entities on charges ranging from non-disclosure of acquisition of shares to involvement in fraudulent trade practices in dealing with shares of Platinum Corporation Ltd (BSE:532117). In separate orders, Sebi fined Platinum Corporation Promoter and Director Pratik Shah […]
Indian food prices ease for third week
NEW DELHI, Jan 23 (AsiaPulse) – Indian food inflation remained in the negative zone for the third straight week, at (-)0.42 per cent for the week ended January 7, mainly due to fall in prices of onion and vegetables. Food inflation, as measured by the Wholesale Price Index (WPI), was at (-) 2.90 per cent […]