Category: Other
Sri Lanka state-run cashew firm losing money
July 03, 2011 (LBO) – State-run Sri Lanka Cashew Corporation is losing money, has low productivity of its lands, and is depending on Treasury handouts to operate, a finance ministry report said. The Cashew Corporation made one percent of the country’s annual production of 8,000 metric tonnes but there wasn’t enough focus on developing cashew […]
Vodafone takes full control of Indian mobile group
NEW DELHI, July 2, 2011 (AFP) – British mobile phone giant Vodafone is taking full control of its Indian joint venture by buying out its local partner Essar Group, a statement said Saturday, ending a troubled relationship. Vodafone, which has sought to make India a crown jewel in its expanding emerging markets portfolio, said it […]
” of treasure found in Indian temple
THIRUVANANTHAPURAM, July 2, 2011 (AFP) – A treasure trove of gold and silver jewelry, coins and precious stones said to be worth billions of dollars has been found in a Hindu temple in southern India, officials said on Saturday. A necklace found on Thursday was 18 feet (six metres) long. Thousands of gold coins have […]
Sri Lanka May tea export volumes, earnings up
July 01, 2011 (LBO) – Sri Lanka’s tea exports in May 2011 rose five percent to 25 million kilos from a year ago with earnings also up six percent to 12. 8 billion rupees, brokers said. Exports of tea packets, on which earnings are more than bulk exports. were also up after a change in […]
Sri Lanka to create compliance standard for Ceylon tea
July 01, 2011 (LBO) – Sri Lanka will launch a globally recognized industry standard for Ceylon Tea early next year addressing consumer concerns, including ethical trade and environmental issues, Ceylon Tea Traders Association Chairman Avi de Silva said. If a competitor country does not have any such laws, their firms will still be compliant with […]
” in stock exchange
DHAKA, June 29, 2011 (AFP) – Bangladesh will allow billions of dollars of untaxed money to be invested in shares under a new tax amnesty designed to prop up the volatile Dhaka Stock Exchange, an official said Wednesday. The new legislation, which was approved by parliament late Tuesday, offers an amnesty on so-called “black money” […]
Sri Lanka reservoir flood move may end elephant gathering: hoteliers
June 29, 2011 (LBO) – A plan by authorities to flood an ancient reservoir in Sri Lanka during the dry season may disrupt a centuries old migration of wild elephants who congregate in what is possibly the largest such gathering in the world, a leisure group has warned. Around August each year elephants running into […]
” is chomping up US orchards
WASHINGTON, June 29, 2011 (AFP) – A stink bug from Asia is chomping up US vegetable fields, orchards and vineyards, causing experts to scramble through an arsenal of weapons to try and halt this stealthy, smelly predator. Pesticides, parasites and traps have all been tried but none have succeeded in killing off the brown marmorated […]
Watch List
WASHINGTON, June 28, 2011 (AFP) – The United States on Monday removed the Philippines and Singapore from a human trafficking watchlist that had drawn concerns from the close allies, but it reported record abuses around the world. The State Department’s annual Trafficking in Persons Report has become increasingly sensitive for Southeast Asian governments, which face […]
Sri Lanka dredges canals to prevent flooding
June 27, 2011 (LBO) – Sri Lanka has begun deepening canals in marshes bordering the capital Colombo and digging lakes to prevent flooding during the rainy season and for tourism and recreation, officials said. A 24-acre land is being dug in the Rampalawatte area in Pelawatte along with another lake at Thalawatugoda. The project is […]
Not Twice
June 26, 2011 (LBO) – Sri Lanka’s and Bahrain has signed an agreement to stop double taxation of interest and dividends from investment made in each country, the finance ministry said. The deal was signed between Sarath Amunugama, Sri Lanka’s mister for international monetary co-operation and Bahrain’s finance minister Shaikh Ahmed bin Mohammed Al Khalifa. […]
Inflation fears as India hikes fuel costs
NEW DELHI, June 25, 2011 (AFP) – Indians will have to pay more for fuel from Saturday after the government announced a hike in the price of some petroleum products, increasing inflationary pressures in the fast-growing economy. Petroleum minister Jaipal Reddy late Friday raised the price of diesel by 3 rupees (7 cents) per litre, […]