Category: Other
Sri Lanka Talawakelle Tea makes loss in 2009
Mar 08, 2010 (LBO) – Drought and higher wages pushed Sri Lanka’s Talawakelle Tea Estates into the red last year, its first loss, although a recovery in crop and higher prices in the last quarter helped reduce losses. The firm, a unit of the Hayleys group, said it made a 22. 3 million loss in […]
Arrests
BERLIN, March 5, 2010 (AFP) – German authorities said Friday that police have arrested six people suspected of raising funds for the Sri Lankan separatist group the Tamil Tigers. The German and Sri Lankan nationals aged between 22 and 58 were arrested on Wednesday in raids on eight premises including the Tamil Coordination Committee (TCC) […]
Economic Laws
Feb 05, 2010 (LBO) – Sri Lanka will fast-track legislation related to the economy when a new parliament convenes on April 22 after national polls, international trade minister Gamini Lakshman Peiris said. “We have an opportunity to develop the economy we have not had for more than 20 years,” minister Peiris told reporters. “It is […]
EU expects free trade deal with India by October
NEW DELHI, March 4, 2010 (AFP) – The European Union expects to clinch a free trade pact with India by October, the EU’s trade chief said Thursday, as the 27-member trading bloc pushes to secure new markets across Asia. “The deal should be done by the next summit between the EU and India in October,” […]
LBR- LBO CFO Forum
Mar 05, 2010 (LBO) – Accounting principals have been the same for almost 500 years, but the role of the accountant has evolved from a book keeper and today’s finance managers should play a more active role in steering the business, a senior accounting professional said. “Ever since Italian monk Pacioli came up with double […]
Bangladesh police arrest Facebook share tipster
DHAKA, March 4, 2010 (AFP) – A Dhaka-based Facebook stocks tipster with over 10,000 followers has been arrested on charges of illegally manipulating Bangladesh’s overheated stock exchange, police said Thursday. Mahbub Sarwar, 26, a prolific blogger who provided online stock tips through the popular social networking site, will be charged with market manipulation, Mohammad Sohel, […]
Sri Lanka tea prices recover as crops fall
Mar 04, 2010 (LBO) – Prices of Sri Lankan teas grown at higher elevations mainly by regional plantations companies recovered at this week’s Colombo auctions as quality improved and crops began to fall, brokers said. Auction average prices have stayed at record highs in the past two months, they said. “The dearer trend in prices […]
‘s Ashok Leyland in small car talks: report
NEW DELHI, March 3, 2010 (AFP) – Japanese auto maker Nissan is in talks with India’s Ashok Leyland to develop a small car for the fast-growing Indian market, a report said Wednesday. The Business Standard newspaper quoted Nissan chief executive Carlos Ghosn as saying the group was looking for a new low-cost alliance in India […]
Indian telecoms tycoon spooks investors with Africa move
NEW DELHI, March 3, 2010 (AFP) – Indian telecoms tycoon Sunil Bharti Mittal may be known for his Midas touch, but investors are questioning if his multi-billion-dollar bid to gain a foothold in Africa is a step too far. Mittal, chairman of Bharti Airtel, has seen shares of India’s biggest mobile firm tumble since he […]
South Asian governments urged to ease visa restrictions
Mar 03, 2010 (LBO) – Reducing visa restrictions and non-tariff barriers, and improving customs procedures are among a host of steps South Asian countries can take to boost private sector-led growth, the Asian Development Bank said. The report also highlights the need for South Asia to remove barriers to intra-regional investment, and to promote cross […]
Warm winters distress reindeer herders in Russian Arctic
LOVOZERO, March 2, 2010 (AFP) – In a billowing cloud of white, Russia’s Arctic herders drive thousands of panting and wild-eyed reindeer through the knee-deep snow to the first slaughter this year. But warm winters in recent years have forced herders here in the far northern Kola Peninsula to delay for months the rounding up […]
Sri Lanka dry zone eco activists offered World Bank grant
Feb 27, 2010 (LBO) – Community organizations in Sri Lanka’s dry zone could get apply to get a grant of up to 9000 US dollars under a program that promotes environmental friendly agriculture, water and waste management, the World Bank has said. The lender’s Colombo office is calling application to give grants under its Civil […]