Category:
Sri Lanka nut shortfall hits Renuka Agri profits
Sep 06, 2011 (LBO) – High coconut prices caused by a crop shortfall reduced profits at Renuka Agri Foods last year although exports increased. Net profit fell 20.5 percent to 144 million rupees in the year ended March 31, 2011 from 181 million rupees the year before with earnings per share falling to 36 cents […]
Broad Expansion
Sept 06, 2011 (LBO) – Sri Lanka Telecom, the island’s largest telecom operator, said it will raise 75 million US dollars from a syndicated loan to upgrade and expand its network including Mobitel, the group mobile unit. “We are still in the process of finalizing the syndicated loan,” chief executive Gregg Young said. “The syndicated […]
Tele Sale
Sept 06, 2011 (LBO) – Suntel a wireless access unit of Sweden’s Telia will is being chased by at least two suitors, but Sri Lanka Telecom, the island’s largest telco said it was no longer interested in the firm. Lanka Bell, the other standalone wireless operator is however profitable due to its access to the […]
India to introduce key land bill in parliament
NEW DELHI, September 6, 2011 (AFP) – India’s cabinet has cleared a new land acquisition bill to be introduced in parliament Wednesday, aimed at addressing the concerns of farmers whose land is purchased for industrial development. The bill, adopted by the cabinet late Monday, seeks to give farmers fairer prices for their land — a […]
‘t let Doha trade talks collapse: India
NEW DELHI, September 5, 2011 (AFP) – The struggling decade-old Doha Development Round of free-trade talks must not be allowed to collapse, India’s trade minister said on Monday. The call came as failure threatens the negotiations on expanding the global free trade system by cutting subsidies and barriers for farm produce and reducing import tariffs […]
India patent case threatens cheap drug supply: MSF
NEW DELHI, September 5, 2011 (AFP) – Supply of cheap copycat drugs for the developing world could be blocked if Swiss pharmaceutical giant Novartis wins a challenge to India’s patent law, medical charity MSF said on Monday. “We couldn’t afford to treat them all without these generic drugs,” said Joanna Keenan, spokesman for the Geneva-based […]
Sri Lanka, India US$500mn coal plant deal inked
Sept 06, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board and India’s National Thermal Power Corporation inked a deal to build a 500MegaWatt coal plant in the island’s northeast coast. The 50/50 joint venture will begin construction at Sampur in Trincomalee, in late 2012 and is expected to be commissioned in 2016, CEB chairman […]
Sri Lanka dollar peg breaks Rs110 level
Sept 05, 2011 (LBO) – Sri Lanka’s peg to the US dollar weakened 10 cents to 110. 10 Monday with the spot dollar being quoted around 110. 09/110.10 rupees as the currency continued to be under pressure, dealers said. Analysts say there could also be a ‘supply shock’ to the system in the form of […]
Sri Lanka stocks end up 0.8-pct
Sep 05, 2011 (LBO) – Sri Lankan stocks closed higher Monday with interest in a motor vehicle import and in non-voting shares of a jewellery exporter, brokers said. The main All Share Price Index closed at 7,007.68, up 0.82 percent (57.07 points) while the more liquid Milanka index rose 0. 69 percent (43.27 points) to […]
Speed Bump
Sep 05, 2011 (LBO) – The long-delayed opening of Sri Lanka’s first expressway will be delayed further although construction of the road is over because toll booths and fuel stations are still being built, an official said. The opening of the first section of the southern expressway that was to have been in September has […]
Digital debate: Do birds have thumbs?
PARIS, September 4, 2011 (AFP) – It is the kind of question that keeps biologists up at night: from an evolutionary standpoint, is the innermost digit of a bird’s three-pronged wing more like a thumb or an index finger? A study published online Sunday by Nature says it’s a bit of both. The stemcells in […]
”
THIMPHU, September 5, 2011 (AFP) – The isolated kingdom of Bhutan is one of the most expensive holiday destinations in the world and a haven for celebrities and the well-heeled. In 2012, it will become even more costly. By doing a better job of marketing Bhutan overseas and increasing flight links, tourism officials hope more […]