Category: Other
‘s tea companies warn of millions in losses due to trade union action
Nov 30, 2006 (LBO) – Sri Lanka’s plantation companies warned Thursday of millions of rupees in losses due to trade union action on estates, as wage talks reach breaking point. Sri Lanka has over 250,000 estate workers, with the island among the world’s top producers’ at over 300 million kilos of black tea produced a year. […]
‘s environment, lifestyle
PANAJI, India, Nov 30, 2006 (AFP) – The once low-budget tourist haven of Goa is facing a crisis, environmentalists say, as developers force up land prices and a tourism boom threatens the delicate coastal ecology.“As a result our forest cover, which was 34 percent in 2001 and projected to increase to 40 percent, has now […]
Indian economy grows faster than expected, sparks interest rate concerns
NEW DELHI, Nov 30, 2006 (AFP) – India’s economy grew a faster-than-expected 9.2 percent in the second quarter to September, official data showed Thursday, prompting concerns that overheating will require higher interest rates.The Indian rupee weakened Wednesday against the dollar to 44.74 from 44.65 after the data was announced, and strengthened against the euro to […]
Zimbabwe finance minister predicts growth, inflation fall
HARARE, Nov 30, 2006 (AFP) – Zimbabwe’s finance minister predicted Thursday marginal economic growth in the coming year and that the country’s four-figure inflation rate would dip to 350 percent as he presented the budget for 2007. “The economy is expected to grow marginally by between 0.5 percent and one percent in 2007,” Herbert Murerwa […]
‘s new budget aims to salvage ruined economy
HARARE, Nov 29, 2006 (AFP) – Zimbabwe’s Finance Minister Herbert Murerwa walks the tightrope Thursday when he unveils the national budget of a food-hungry country groaning under record inflation and a ruined economy.Murerwa has the unenviable task of trying to stem 1,070.2 percent inflation and a free-falling currency in an economy which has shrunk by […]
Global tea experts call for formal standards on world market
NAIROBI, Nov 27, 2006 (AFP) – Global tea experts meeting in Kenya Monday called for tough minimum quality standards to address the growing problem of poor tea entering the international market and depressing prices.“In targeting potential growth markets, recognition of and compliance with food safety and quality standards is essential,” said Kaison Chang, a senior […]
‘s largest palm oil firm
KUALA LUMPUR, Nov 27, 2006 (AFP) – Three Malaysian plantation firms will merge to create the world’s largest listed palm oil business, worth 31.4 billion ringgit (8.6 billion dollars), under an ambitious plan announced Monday.A new vehicle, Synergy Drive, will buy the assets and liabilities of Sime Darby Bhd, Golden Hope Plantations Bhd and Kumpulan […]
Sales boom at Barista coffee houses as high spending urban Sri Lankans socialise
November 24, 2006 (LBO) – Young urban Sri Lankans are steadily patronising India’s Barista Coffee Co.‘s, chains in Colombo, for a piece of cheescake and sip cappucino, while they surf the Internet, play board games and browse through magazines, officials said. “Our aim is to add two stores every year.We managed to do that this year, […]
Six Sri Lankans jailed in Singapore for credit card fraud
SINGAPORE, Nov 24, 2006 (AFP) – Six Sri Lankan men were handed jail terms of up to 11 years in Singapore for stealing money from automated cash machines using cloned credit cards, court officials said Friday. The Sri Lankans, who were residents in London and were in Singapore on social visit passes, swiped the money […]
Unsavory Label
Nov 23, 2006 (LBO) – Foreign investors in Singapore who attended a road show by the Colombo Stock Exchange have raised questions about Sri Lanka’s growing infamy as a money laundering hub, and the inability of authorities to counter such activities, participants said. One foreign investor asked the head table what action the authorities planned […]
As online shopping grows, so do the dangers of fraud and theft
WASHINGTON, Nov 23, 2006 (AFP) – As growing numbers of Americans turn to the Internet for holiday shopping, experts warn that online dangers such as fraud and identity theft are increasing as well. One out of 10 people shopping online could become a victim of online fraud this holiday season, according to a report by […]
Millions in British tsunami aid unaccounted for: report
LONDON, Nov 23, 2006 (AFP) – More than nine million pounds (13 million euros, 17 million dollars) of British government aid for victims of the Asian tsunami may not yet have been spent, a parliamentary committee said Thursday. The British government committed 75 million pounds in humanitarian assistance following the December 26, 2004 disaster, including […]