Category: Other
Disappearing island solves India-Bangladesh dispute
KOLKATA, March 25, 2010 (AFP) – A tiny island at the centre of a territorial dispute between India and Bangladesh has disappeared beneath the waves due to rising sea levels and erosion, scientists say. At its height, it was never more than two metres (about six feet) above sea level. Hazra said a larger island, […]
Sri Lanka launches new tea certification scheme
Mar 25, 2010 (LBO) – Sri Lanka has introduced a quality certification programme for tea exports to ensure cleaner teas are sent to overseas markets, devoid of stones and other contamination now found during pre-export screening, officials said. Random test will be done on products to ensure they conform to the standards after certification is […]
India launches ultra-luxury Maharaja train service
KOLKATA, March 23, 2010 (AFP) – India has launched its most luxurious and expensive train service yet, seeking to attract well-heeled foreign rail enthusiasts prepared to pay the minimum 800-dollars-a-night price tag. For most visitors, rail travel in India is an indispensable part of any holiday, although an ability to overlook the often filthy toilets […]
Sri Lanka tea output back to normal levels in February
Mar 23, 2010 (LBO) – Sri Lanka’s tea production in February was back to the usual levels having recovered from the effects of drought and a market crash last year, Tea Board statistics showed. A total of 23.5 million kilos of tea, including green tea, was produced in February 2010, up sharply from the 12. […]
Sri Lanka Finlays unit reveals gains from commodities crash
Mar 22, 2010 (LBO) – Buying tea for stock during the commodities crash in the last quarter of 2008 helped boost profits at Finlays Colombo group last year, the Sri Lankan company has revealed. The firm, part of the Swire group of the UK, said its tea packing business made higher profits in the first […]
India faces more rate hikes to tame inflation: analysts
MUMBAI, March 21, 2010 (AFP) – India’s central bank looks set to tighten monetary policy further after raising interest rates for the first time in nearly two years as it bids to check spiralling inflation, economists say. In a move that surprised experts, the Reserve Bank of India (RBI) hiked short-term rates from record lows […]
Sri Lanka poultry industry squeezed by state controls
Mar 19, 2010 (LBO) – Sri Lanka’s poultry industry has been squeezed by taxes on imported maize which pushed feed costs up and price controls on processed chicken which worsened a downturn in the industry, a top agro firm has said. Ceylon Grain Elevators group, a unit of Singapore’s Prima, said an economic slump in […]
Sri Lanka tea trade says expects short quality season
Mar 19, 2010 (LBO) – Sri Lanka’s tea industry expects a short ‘Western quality season’ this year with teas that had the desired quality picking up in price at recent auctions as volumes fell, officials said. “We might have a late season – there are signs of teas brightening up,” said Dhamitha Perera, chairman of […]
Arbitrary Rule
SEOUL, March 18, 2010 (AFP) – North Korea has executed a top financial official blamed for a bungled currency revaluation that triggered chaos in the communist state, South Korean news reports said Thursday. The redenomination last November 30 forced people to swap old banknotes for new at a rate of 100 to one, but restricted […]
” at night
PARIS, March 14, 2010 (AFP) – Scientists revealed Sunday for the first time how some snakes can detect the faint body heat exuded by a mouse a metre (three feet) away with enough precision and speed to hunt in the dark. It has been known for decades that rattlesnakes, boas and pythons have so-called pit […]
Banking Challenges
Mar 13, 2010 (LBO) – Banking is one sector which undergoes rapid change and transformation. Hence, what we have today as banks is completely different from what we had as banks yesterday. Similarly, banks tomorrow will be completely different from banks today. By incorporating ICT in their production models, banks have been able to successfully […]
Sri Lanka tea prices rise, crops fall
Mar 12, 2010 (LBO) – Sri Lankan tea prices rose at this week’s auction as quality improved and crops coming down owing to drought, brokers said. Prices of some varieties of ‘Western high grown’ teas cultivated on the Western slopes of the central hills rose by 15 rupees a kilo and more following quality, brokers […]