Category: Other
Sri Lanka tea prices fall
Feb 26, 2010 (LBO) – Sri Lankan tea prices at the Colombo auctions fell for the second week running this week on bigger volumes and lower quality, although production was recovering, brokers said. Asia Siyaka Commodities said Sri Lanka’s January output indicated a recovery in the island’s production, especially among small farmers cultivating the low […]
Weak monsoon hits Indian growth
NEW DELHI, February 26, 2010 (AFP) – India’s economic growth slowed sharply in the final quarter of 2009 to 6. 0 percent year on year, hit by lower farm output after the weakest monsoon in 37 years, data showed Friday. The figure for the October-December period, the third quarter of India’s fiscal year, compared with […]
‘s biggest carmaker Maruti Suzuki India announced Tuesday it has recalled 100,000 of its best-selling A-Star hatchback cars due to a fuel leakage problem
Maruti, majority owned by Japan’s Suzuki Motor Corp, said it launched the recall last November to fix the fault. The A-Star cars are being recalled both locally and internationally, mainly in Europe, as a “proactive” step, the company said in a statement. “We decided to check all vehicles from the lot, around 100,000 units including […]
Sri Lanka gets UN agency loan to help farmers
Feb 24, 2010 (LBO) – A United Nations agricultural development agency said it will give Sri Lanka a loan of 25 million dollars to help small holder farmers increase incomes. The International Fund for Agricultural Development (IFAD), based in Rome, said the loan will directly benefit small producers, women, landless households and young people in […]
‘s Maruti recalls 100,000 A-Star cars over fuel leakage
MUMBAI, February 23, 2010 (AFP) – India’s biggest carmaker Maruti Suzuki India announced Tuesday it has recalled 100,000 of its best-selling A-Star hatchback cars due to a fuel leakage problem. “No problem has been reported by customers. ” The recall covers those A-Stars made between November 2008 and August 2009. The company, the leader in […]
Sri Lanka January tea crop back to normal
Feb 23, 2010 (LBO) – Production of tea, Sri Lanka’s main export crop, showed a return to normal levels in January as the industry recovered from the effects of drought and labour action that sharply reduced output last year. The Tea Board has said it expects annual tea production this year to be more than […]
‘s stock frenzy raises fear of new crash
DHAKA, February 21, 2010 (AFP) – In a run-down office in downtown Dhaka, excited investor Mizanur Rahman has just spent his life savings of 3,000 dollars on shares despite knowing nothing about market fundamentals. Everyone in this unofficial trading room, one of hundreds across the country, is glued to a screen showing share price movements […]
Bangladesh signs power plant deal with India
DHAKA, February 20, 2010 (AFP) – Energy-hungry Bangladesh has signed a 1. 7-billion-dollar deal with India to build two coal-fired power plants in the country’s south to ease a huge electricity shortage, an official said Saturday. The deal highlights Dhaka’s improving ties with New Delhi under its new secular government led by Sheikh Hasina’s Awami […]
Normal Life
February 19, 2010 (AFP) – Sri Lanka said Friday it plans to release all detained Tamil Tiger child soldiers by the end of May and re-unite them with their families. Government forces defeated the rebel Liberation Tigers of Tamil Eelam (LTTE) in May last year, ending their 37-year fight for a Tamil homeland in the […]
‘s Carrefour says plans 2010 entry into India
NEW DELHI, February 19, 2010 (AFP) – France’s Carrefour, the world’s second largest retailer, said Friday it plans to enter India’s vast retail market in 2010 following years of delays. “Carrefour will develop its activities in India with the start of cash-and-carry activities in 2010,” the company said in a statement emailed to AFP. Cash-and-carry […]
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 […]
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 […]