Category: Other
India may award oil blocks next March
NEW DELHI, Dec 7 (AsiaPulse) – The Indian government is likely to award oil and gas blocks offered for bidding in ninth round of New Exploration Licensing Policy (NELP) by March next year, eight months behind schedule. “Some blocks (offered in NELP-IX) were held up due to security issues. By March next year, most of […]
Fairmont eyes 40 hotels in India in five years
NEW DELHI, Dec 7 (AsiaPulse) – Hospitality firm Fairmont Hotels and Resorts plans to operate about 40 hotels in India in the next five years across its three brands — Fairmont, Raffles and Swissotel. “In the next 5-6 years, our strategy is to operate up to six hotels under Raffles brand, about 8 to 12 […]
Sri Lanka tea demand perks up after devaluation
Dec 02, 2011 (LBO) – Demand for Sri Lanka’s low grown teas, which make up the bulk of the crop, perked up at this week’s Colombo auctions after increased orders from key overseas buyers and the snap devaluation of the rupee, brokers said. “Despite Sri Lanka tea production in the month of October recording a […]
‘s growth slips to 6.9-pct in 2Q
NEW DELHI, Dec 2 (AsiaPulse) – Confirming a slowdown, India’s economic growth rate slipped to 6.9 per cent in the second quarter this fiscal year, the lowest in nine quarters, prompting the government to lower its full-year growth projection to 7.3 per cent. Economic growth during the July-September period of 2011-12 fell mainly due to […]
Resigned
Dec 01, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission chief Indrani Sugathadasa has resigned, within weeks of the watchdog’s director general being removed by the cabinet of ministers. Sugathadasa is a retired public official who has been in many senior positions in government service. Sugathadasa said she had tendered her resignation “having considered […]
Sri Lanka mulls more agriculture export zones
Nov 29, 2011 (LBO) – Sri Lanka plans to set up more dedicated ‘agro export zones’ to help promote export of agricultural produce by private sector exporters. The Ministry of Industry and Commerce said in a statement it would set up the zones focusing on private-public partnerships between the government and the private sector. The […]
China agri firm to buy Pakistan farmland
ISLAMABAD, (AsiaPulse) – China Green, considered that country’s biggest private agriculture company, is looking to buy 10,000 acres of farmland in Pakistan on lease to grow fruits and vegetables. Federal Minister for National Food Security and Research, Mir Israrullah Khan Zehri, held a meeting with a trade delegation of China Green. Zehri said that Pakistan […]
Indian onion farmers hit by state meddling
NEW DELHI, Nov 28 (AsiaPulse) – Moves by the Indian government to further reduce the export price of onion from US$350 a tonne stems from a steep 24 per cent decline in overseas shipments of the staple. India’s onion export has declined by about 213,000 tonnes during April to November 20 this year, agri-cooperative Nafed, […]
India hikes foreign currency deposit rates
MUMBAI, Nov 28 (AsiaPulse) – Reserve Bank of India (RBI) on Wednesday hiked interest rates on Non-Resident (External) Rupee term deposits and Foreign Currency Non-Resident (Banks) deposits, a move expected to increase the flow of foreign exchange amid the weakening domestic currency. “Interest rates on fresh Non-Resident (External) Rupee (NRE) Term Deposits for 1-3 years […]
Sri Lanka storms kills 16, over 30 missing
Nov 26, 2011 (LBO) – Heavy rain and strong winds that lashed Sri Lanka yesterday had left 16 people dead and at least 33 missing in several parts of Sri Lanka, the island’s disaster management office said. Authorities are still searching for more than 30 fishermen reported missing. Heavy winds that lashed the island had […]
India FDI up 41-pt to US$22.5bn to September
NEW DELHI, Nov 25 (AsiaPulse) – Foreign Direct Investment in India surged by 41 per cent to US$22.5 billion during the January-September period this year, despite the uncertain global economic environment. During January-September 201O, the country had attracted Foreign Direct Investment (FDI) worth US$15.97 billion. Experts maintained that the government should further streamline policies and […]
Sri Lanka tea prices fall
Nov 25, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auctions with reduced demand and brokers saying the island is unlikely to match last year’s annual production owing to a slower recovery in crops. A key buyer also kept out of the first day of the auctions owing transport problems involving […]