Category: Other
Indian growth projected at 7.6-pct for 2011: RBI Gov
VIJAYAWADA, (AsiaPulse) – Reserve Bank of India Governor D Subbarao said the economic growth rate for the current fiscal year is projected at 7.6 per cent as against earlier projections of 8 per cent. While hoping to tame down the inflation below 7 per cent by the year end, Subbarao said he was not sure […]
Sri Lanka in sand nourishment to prevent sea erosion
Dec 23, 2011 (LBO) – Sri Lanka will use sand nourishment to shore up defences against sea erosion in Marawila, a fishing and tourism area north of the island’s capital, information minister Keheliya Rambukwelle said. The coastal conservation agency estimated that 450,000 cubic meters of sand would be needed to nourish the beach. International bids […]
Falling rupee lifts Indian PC prices
NEW DELHI, Dec 23 (AsiaPulse) – Indian computer maker HCL INFOSYSTEMS has increased prices of desktops, laptops and servers by 10-15 per cent September onwards, as the depreciating rupee has pushed up its imports bill. “The hike has been gradual, we have had to increase prices from September onwards,” HCL Infosystems CEO Harsh Chitale told […]
‘s banks face risks from low growth, fiscal deficit
MUMBAI, Dec 23 (Asia Pulse) – India’s banking system has weak spots such as decelerating growth and a growing fiscal deficit which need to be addressed, a Reserve Bank report says. Rupee has weakened nearly 18 per cent since January and is currently trading at Rs 52.65 against dollar. The other major challenge before the […]
India may give sugar producers more freedom from state control
NEW DELHI, Dec 23 (AsiaPulse) – Noting that sugar industry would be a priority under the food bill, Indian Food Minister K.V Thomas on Wednesday said the government will consider the demand for partial decontrol of the sector after Parliament session. Making a demand for removal of levy sugar, ISMA President Narendra Murkumbi pointed out […]
Kerala to tender deepwater port project in March
MUMBAI, Dec 21 (AsiaPulse) – The Indian state of Kerala plans to invite global engineering, procurement and construction bids for the Rs 7,800 crore Vizhinjam Port by March and expects the results of an environment impact assessment (EIA) study on the project to be out by June, a top state government official has said. “We […]
Sri Lanka asks Russia for phased import duty reduction
Dec 21, 2011 (LBO) – Sri Lanka has asked Russia to cut import duty on tea in a phased manner following its admission to the World Trade Organisation (WTO) after 18 years of negotiations, officials said. Sri Lanka’s tea industry has been lobbying Russia to reduce import duty to enable exporters better access for value-added […]
Sri Lanka to probe whale deaths, do acoustic monitoring
Dec 20, 2011 (LBO) – Sri Lanka is launching a probe on whale deaths which are suspected to be due to shipping, and also study the mammals by monitoring their calls underwater, the head of a research agency said. “Too many whales are dying around Sri Lanka,” Hiran Jayewardene chairman of Sri Lanka’s National Aquatic […]
Sri Lanka tea trade sees gains from Russia WTO entry
Dec 20, 2011 (LBO) – Russia’s entry in to the World Trade Organization last week will enable high import duty on value-added tea to be reduced, creating better access for Sri Lankan teas, industry officials said. “Russia is our largest market for tea and we would like to increase value-added teas being sent to Russia […]
Lessons
Dec 19, 2011 (LBO) – Sri Lanka has to re-build an independent public service and restore rule of law to give freedom to citizens, a commission of inquiry on lessons learnt and reconciliation following the end of a 30-year civil war has said. “A democracy must assure a fair system of governance under the Rule […]
Sri Lanka targets Russia with specialty teas
Dec 19, 2011 (LBO) – A specialty tea contest held in Russia recently would help Sri Lankan exporters promote Ceylon teas in the biggest market for the island’s main agricultural export, officials said. ‘Blind tasting’ of the teas was done by a panel of 12 tea tasters with 66 entries being sent to Russia for […]
India probes stock price-rigging
NEW DELHI, Asia Pulse (LBO) – India’s market watchdog is probing the role of at least 25 newly-listed firms, which includes the holding company, certain brokers and merchant bankers. The Securities and Exchange Board of India (Sebi) is also probing the possibility of cartelisation among the company promoters, brokers and merchant bankers for rigging the […]