Category: Other
Blocked
SYDNEY, April 9, 2010 (AFP) – Australia on Friday stopped accepting new Afghan and Sri Lankan asylum seekers as it cracks down on people smuggling to thwart an influx of boatpeople, Immigration Minister Chris Evans said. “Today I want to announce that the government is implementing an immediate suspension on the processing of all new […]
India kicks off billion-dollar 3G auction
NEW DELHI, April 9, 2010 (AFP) – India’s mobile phone firms began bidding Friday to provide superfast third-generation (3G) services in the booming cellular market — a sale expected to reap the government billions of dollars. The auction of 3G spectrum will propel India firmly into the Internet era where rolling out landline broadband networks […]
Indian space programme advances with satellite plan
BANGALORE, April 8, 2010 (AFP) – India plans to put a satellite into orbit using its indigenously built cryogenic rocket engine, marking another step in the nation’s ambitious space programme, officials said. Cryogenic rocket motors, which use supercooled liquid fuel, have been built by only six countries or regions in the world, with India joining […]
India corporate fraud rising: KPMG report
NEW DELHI, April 7, 2010 (AFP) – Corporate fraud, particularly involving financial statements, is on the rise in India as executives struggle to meet earnings targets, global consultancy KPMG said Wednesday. Forty-five percent of the 1,000 managing directors, chief financial officers and other top executives of leading Indian businesses declared fraud had increased within their […]
Sri Lanka Hayleys commercial farming project wins recognition
Apr 06, 2010 (LBO) – A project to help farmers in Sri Lanka’s former war zone by Hayleys, a big exporter of gherkins to global food chains, has won an award from its partner, the US Agency for International Development. A USAID statement said the project was chosen from 700 such initiatives around the world […]
Stranded coal carrier threatens Great Barrier Reef
SYDNEY, April 5, 2010 (AFP) – Australian authorities were attempting Monday to stabilise a stranded Chinese coal carrier which is threatening to break up on the Great Barrier Reef and spill more oil into the pristine waters. The Shen Neng 1 ran aground on Saturday when it hit a shoal off the eastern state of […]
Sri Lanka Milk Foods starts new plant
Apr 02, 2010 (LBO) – Lanka Milk Foods (LMF), a milk powder packer which is part of Sri Lanka’s Distilleries group, said it has begun production at a new plant with a capacity of 9.5 million litres of cow milk. LMF acquired them in 2001 when it bought 90 percent of the shares of Ambewela […]
Indian designers go back to their roots as retro-chic rules
NEW DELHI, April 2, 2010 (AFP) – Raw silk, cotton, jute — India’s traditional fabrics are finding favour among top designers raring to break new ground in the highly competitive Indian fashion market. The tendency to ape Western cuts and style in recent years has seen the country’s own rich craftsmanship take a backseat. But […]
Sri Lanka tea estate in iced tea project with US firm
April 01, 2010 (LBO) – Sri Lanka’s listed Bogowantalawa Tea Estates said it was starting a two million dollar iced tea unit with a US firm in which the firm would take up a 25 percent stake. The joint venture will export packaged iced tea to the United States. The company said it was teaming […]
Sri Lanka tea wage hike erodes Malwatte Plantations profit
Mar 31, 2010 (LBO) – Sri Lanka’s Malwatte Valley Plantations said 2009 annual profits fell 99.3 percent to 2.15 million rupees from a year ago with a big loss in the December quarter on higher wage costs and gratuity provisions. Its financial results filed with the Colombo stock exchange showed December quarter losses shot up […]
‘s aborted Sri Lanka concert
March 30, 2010 (AFP) – The Maldives stepped in on Tuesday to offer US rap star Akon a replacement concert after his scheduled appearance in Sri Lanka next month was scuttled by protesting Buddhist monks. “We are very happy he is planning to come and perform,” President Mohamed Nasheed’s press secretary Mohamed Zuhair told AFP […]
Now comes tough part for Bharti: making Zain purchase pay
NEW DELHI, March 31, 2010 (AFP) – Indian telecoms tycoon Sunil Bharti Mittal has finally achieved his dream of breaking into the African market with a 10.7-billion-dollar deal to buy Kuwait-based Zain’s Africa assets. But now comes the tough part — making the purchase pay off. Mittal’s Bharti Airtel, the top mobile operator in India, […]