All Blogs
Protests hit China as property prices fall
SHANGHAI, October 27, 2011 (AFP) – Hundreds of angry home buyers launched a series of protests in China’s commercial hub of Shanghai this week, as owners decried falling prices for their properties, state media said Thursday. Hit by weak demand and lack of funding, developers have slashed prices for some new projects in the city […]
‘s President Rajapakse says Asia key to stability
PERTH, October 27, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse Thursday accused Western nations of doing “too little, too late” to address economic problems, adding that Asia was key to global stability. “At present, many advanced nations suffer from high unemployment which has resulted in the first signs of political and social unrest being […]
Vehicle Trend
Oct 26, 2011 (LBO) – New vehicles registered in Sri Lanka rose 31 percent to 45,279 in August 2011 from a year earlier, though lower than a peak of 48,157 seen in June, official data showed. Car imports rose 62 percent to 5,055 in August, three wheeler vehicles widely used as taxis rose 30.4 percent […]
Credit Profile
Oct 26, 2011 (LBO) – Fitch Ratings Lanka has confirmed Pan Asia Banking Corporation’s (PABC) national long-term rating at ‘BBB(lka)’ with a stable outlook. PABC is a licensed commercial bank (LCB), 41% owned by a high net-worth businessman Mr. K.D.D. Perera and related parties. It accounted for 1.1% of LCB sector assets at end-2010 (2009: […]
Finance Company
Oct 26, 2011 (LBO) – Nation Lanka Plc, a listed company said Sri Lanka’s Central Bank has given approval for it to be registered as licensed finance company subject to several conditions. But interest rates are now moving up, amid defence of a dollar peg by the monetary authority. The firm had to put up […]
” tourism brand
Oct 26, 2011 (LBO) – Maldives has launched a new slogan ‘Always Natural’ and a thumbprint-styled logo highlighting the Indian Ocean tourist paradise’s natural assets. The logo has been designed to express the natural elements of the country formed in a thumb print incorporating various species of fish, dolphins and birds. “The previous slogan was […]
Refugee Death
SYDNEY, October 26, 2011 (AFP) – A Sri Lankan man died in Australian immigration detention, officials said Tuesday, with refugee advocates claiming he killed himself with poison after being refused permission to attend a Hindu festival. An immigration spokesman said the man died shortly after midnight at Sydney Immigration Residential Housing — a family compound […]
Killer whales migrate, study finds, but why?
PARIS, October 25, 2011 (AFP) – Some killer whales, a study published Wednesday shows for the first time, wander nearly 10,000 kilometres (6,200 miles) from Antarctica’s Southern Ocean into tropical waters — but not to feed or breed. Rather, these fearsome predators at the apex of the marine food chain traverse the sea at top […]
India looks to factories to create 100 mln new jobs
NEW DELHI, October 25, 2011 (AFP) – India’s government approved Tuesday a policy to boost the nation’s underdeveloped manufacturing sector, aiming to slash red tape and create special zones for firms in a drive to create 100 million jobs. Manufacturing accounts for just 16 percent of India’s agriculture-dependent economy, which is “a cause of concern,” […]
SriLankan Airlines gets new Airbus aircraft
Oct 26, 2011 (LBO) – A brand new Airbus 320 was added to the expanding fleet of Sri Lanka’s national carrier SriLankan Airlines Wednesday, a statement said. The new A320 has a seating configuration of 20 Business Class and 120 Economy Class and is equipped with the latest AVOD (Audio Video- On Demand) inflight entertainment […]