Category: Other
Fine Cuppa
Russia is sipping more fine teas as the influence of rising average income increases average spending above US$ 5 per kilo in the wholesale markets.The switch to premium quality beverages is taking hold across Russia along with the rising purchasing power of Russian consumers. Trade sources say sales of hot drinks increased by 3.6% in […]
Sex, Lies and Religion
Sri Lankas main Muslim leader Tuesday accused the government of implicating him in a sex scandal to secure his vote while a Buddhist monk charged that a fellow monk legislator had been abducted. Muslim leader Rauf Hakeem in a special address to parliament said the ruling party had fabricated a sex scandal to pressure his […]
The Bright Side
US policy towards South Asia might offer a window of opportunity for peace and economic prosperity in Sri Lanka.rn rnOn December 7, 1941 Japan attacked the Pearl Harbor and dragged America into World War II, which shook US foreign policy at its base.rnOut of the ashes of the World War II the United States and […]
Teething Problems
rnrn The countrys largest telecom operator has failed to bill its customers since last December, due to delays in implementing its new US$ 20 mn billing system.rn With over 830,000 subscribers on its network, SLT is not expected to get is act right until August, says analysts Vajira Premawardhana and Shamlee Hasheem of Lanka OrixrnSecurities.rn […]
Fresh Growth
Sri Lanka shipped out 12 mn kilos more tea in the 1Q of 2004, up from 65 mn kilos exported in 2003.Adding to the good news, the total value of the export orders reached Rs. 18 bn from Rs. 14 bn, increasing the average price per kilo to Rs.234.2 from Rs. 225 in the previous […]
Baby Boomers
Perfume isnt all smell. Men and women who splash it on no less than baby cologne, are driving growth and pushing retail sales in the mass market for fragrances.Baby is big business, and dual use is common in a relatively low-end market driven by price, sheer convenience and the perception of perfume as a lquote […]
Bitter Teas
Misty Mountains Holdings bid to buy into the Lankan tea sector fell apart with John Keells Holdings and HVA Lanka calling off their deals with the US firm.John Keells said on Monday it called off its sale and share purchase agreement as Misty Mountain had failed to satisfy pre-sale conditions. The deal, which was struck […]
Picked by an Angel
Developed economies spend the equivalent of two to three percent of their GDP on Research and Development (R&D).rnBut the figure is much lower for emerging markets including Sri Lanka.rnrnExperts say without prosperity there wont be enough for R&D expenditure and without R&D spending growth will always be below par.rn rnWithout prosperity there wont be enough […]
Hanging Up
The telecom watchdog ended its standoff with Mobitel (Pvt) Ltd on Thursday, withdrawing its case with the Fort Magistrate after the two parties reached a settlement. Mobitel agreed to pay Rs. 2 mn to cover the Telecommunication Regulatory Commissions legal costs and re-affirm the regulators authority over the telco industry.rn rnThe settlement comes after months […]
Low Leaf
Asia Siyaka Commodity Brokers said that buyers at the Colombo Tea Auction are concerned by the quality of future low grown teas on offer, driven by the surge in production associated with Sri Lankas famous long holidays. “Many traders seem to have taken the position that they would need to stock up on the superior […]
First Act
The governments first piece of business when parliament opens on May 18 will be to push through an Anti-corruption Bill to replace the Bribery Commission and the Act governing it.Alliance Minister Susil Premajayantha said on Friday that the Bill is now with the Legal Draftsman and is based on the principles of transparency and accountability.rn […]
Feeling the Pinch
lquote Can the new government summon enough numbers to appoint a Speaker of its choice and announce its policy statement? Speculation is rife in Colombo but the all-powerful minorities are taking it cool. Sri Lankas 13th Parliament will meet tomorrow amidst speculation on the new governments ability to muster a majority.rn rnAt its maiden sitting […]