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Indian property boss resigns over telecom scandal
MUMBAI, March 7, 2011 (AFP) – The head of one of India’s top real-estate companies resigned on Monday after being arrested as part of a probe into a telecom graft scandal that is sending tremors through the corporate world. Shahid Balwa is in jail after being arrested by the Central Bureau of Investigation (CBI) last […]
Sri Lanka flight caterer expects more business
Mar 07, 2011 (LBO) – Sri Lanka’s sole inflight caterer says it is experiencing a surge in demand as the end of a war is drawing more tourists to the country and is also actively chasing and winning new business from airlines which did not buy from Colombo. Though SriLankan Catering, a unit of the […]
Sri Lanka had net inflows into capital markets in 2010: CentralBank
Mar 07, 2011 (LBO) – Sri Lanka’s has seen a net capital inflow of 51.8 billion rupees (459 million US dollars) into the country through approved securities investments accounts the Central Bank said. The central bank’s exchange control department in 2010 there had been an inflow of 215.9 billion rupees (1,910 million US dollars in […]
Bajaj Auto faces rough ride in India car market
MUMBAI, March 6, 2011 (AFP) – Abhijit is fiercely proud of his Kawasaki Bajaj motorbike and considers himself a company loyalist. “Motorbikes are the best for urban travel. They’re economical and easy to park,” the Mumbai sales executive in his 30s told AFP. But while Abhijit, who uses only one name, wants to upgrade to […]
Sri Lanka-Aussies washed out, Dhaka in security row
NEW DELHI, March 5, 2011 (AFP) – Torrential rain washed away defending champions Australia’s World Cup clash with Sri Lanka on Saturday, just as the eagerly awaited encounter between the fierce rivals was coming to the boil. Sri Lanka had made 146-3, with skipper Kumar Sangakkara hitting an unbeaten 73, when Colombo’s R. Premadasa stadium, […]
Sri Lanka forex reserves $6.6bn in January
Mar 06, 2011 (LBO) – Sri Lanka’s foreign reserves were 6. 6 billion US dollars by end January 2011, the same level as in December, the Central Bank said, as trade and economic activity expanded. The central bank said the reserves were equal to 5.9 months of imports of the past 12 months of 1,108 […]
Job Market
Mar 05, 2011 (LBO) – A Sri Lankan employment network is encouraging businesses to give jobs to over 15,000 youth in the former northern war zone who are seeking work and help improve ethnic relations in the country. “Access to the job market will renew hope in the community in the resettled area as well […]
Sri Lanka December exports, imports hit new high
Mar 05, 2011 (LBO) – Sri Lanka’s exports and imports hit new monthly highs in December 2010 with shipments of apparel, the main industrial export, rising sharply despite the loss of duty free access to Europe. Expenditure on non food consumer import category also increased mainly due to higher imports of motor vehicles. All categories […]
Hair still has doubts about Murali
SYDNEY, March 5, 2011 (AFP) – Former Australian Test umpire Darrell Hair still has doubts about Sri Lankan star Muttiah Muralitharan’s bowling action, more than a decade after he called him for chucking, a report said Saturday. Hair, who called Muralitharan for throwing in 1995, said he felt that some of the Sri Lankan legend’s […]
Angry Bangladesh fans stone West Indies team bus
DHAKA, March 4, 2011 (AFP) – Angry Bangladesh fans stoned the West Indies bus on Friday after the home team crashed to a humiliating nine-wicket defeat in the cricket World Cup. Two windows of the bus were smashed as it was leaving the Sher-e-Bangla stadium after the match in what police claimed was a case […]