Category: Other
Sri Lankan tea prices stay high
Feb 19, 2010 (LBO) – Sri Lankan tea prices eased at the Colombo auctions this week but are still at record highs being much higher than last year both in rupee and dollar terms, brokers said. But the Western quality season, which is during this time of year, has yet to set in because of […]
Sri Lanka coconut exporter mulls acquisitions
Feb 18, 2010 (LBO) – Sri Lankan coconut products exporter Coco Lanka has said it plans to expand and is holding talks with companies it had identified for possible takeover. Finance costs reduced sharply in both the quarter and the nine-month period, the accounts showed. According to a segmental analysis of the business for the […]
Smuggling Route
February 18, 2010 (AFP) – Sri Lankan police on Thursday seized 28 kilos (62 pounds) of heroin worth 780,000 dollars in a major blow to smugglers who are believed to be use the island as a drug trafficking route from India. The narcotics were found during a raid early Thursday in the northwestern fishing village […]
Bharti founder hopes to be third time lucky with Africa bid
NEW DELHI, February 17, 2010 (AFP) – Indian telecom tycoon Sunil Bharti Mittal is hoping to make it third time lucky as he seeks to gain a presence in Africa, one of the world’s least developed mobile phone markets. After two failed attempts to tie up with South African flagship MTN, the founder-chairman of cellular […]
Sri Lanka seeks lower Russian import duty on tea
Feb 12, 2010 (LBO) – Sri Lanka has asked Russia, the biggest importer of Ceylon tea, to reduce import duty on value-added tea exports, a senior minister said. Export Development and International Trade Minister Gamini Peiris said the issue was discussed when Sri Lankan president Mahinda Rajapaksa held talks with his Russian counterpart Dmitry Medvedev […]
Leave
February 12, 2010 (AFP) – Sri Lanka’s Supreme Court agreed Friday to hear a challenge to the arrest of defeated presidential candidate Sarath Fonseka, as opposition parties stepped up a campaign for his immediate release. The court accepted a petition by Fonseka’s wife requesting that his arrest be ruled illegal, and ordered the state to […]
Sri Lanka Kelani Valley reduces loss with Dec quarter gains
Feb 11, 2010 (LBO) – Sri Lanka™s Kelani Valley Plantations said higher tea and rubber crops and prices in the December quarter had helped reduce losses although it still ended 2009 in the red. The company, part of the Hayleys group, said it made a profit of 179 million rupees in the December quarter compared […]
Cheap loans boost India car sales in January
NEW DELHI, February 9, 2010 (AFP) – India’s car sales rose more than 32 percent year on year in January as demand was boosted by cheap loans and an economic recovery, an industry group said Tuesday. Domestic passenger car sales rose to 145,905 units from 110,300 in the same month last year, according to the […]
Sri Lanka in new tea marketing drive
Feb 06, 2010 (LBO) – Sri Lanka™s Tea Board has chosen MTI Consulting, a management consultancy, to develop a strategy to promote Ceylon tea, the island™s main commodity export. The Sri Lanka Tea Board (SLTB) said it chose the firm after a year-long competitive evaluation process. Tea is Sri Lanka™s second largest export earner next […]
Sri Lanka negotiates OPEC funds for irrigation project
Feb 05, 2010 (LBO) – Sri Lanka has wrapped up a deal to get a 16 million dollar loan from the OPEC Fund for International Development for an irrigation project in the island’s central region, a senior minister said. The Kalu Ganga (river) development project is part of the Moragahakanda development program, information minister Anura […]
Sri Lanka rains delay tea quality season
Feb 05, 2010 (LBO) – Heavy rains in some of Sri Lanka™s tea growing regions have delayed the onset of the quality season when plantations companies get high prices for their teas, brokers said. Prices fell at this week™s auction as larger volumes went on sale but sale quantities are expected to decline as dry […]
Sri Lanka state says ready to buy paddy output
Feb 05, 2010 (LBO) – A Sri Lanka state agency is to be given money to buy 140,000 metric tonnes of paddy produced in the upcoming main cultivation season to maintain farm-gate prices, a government minister said. Sri Lanka has high rice prices and from late December the government brought down high import tariffs to […]