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Credit Trend
Mar 28, 2011 (LBO) – Sri Lanka loans to business from commercial banks rose 28.1 percent in January 2011 from a year earlier to 1,530 billion rupees, central bank data showed as inflation concerns also rose in the island. Under Sri Lanka’s flawed monetary law, which critics say has made the country prone to high […]
Maldives releases cricket WCup terror suspect
March 27, 2011 (AFP) – Maldives police said Sunday they had released a man suspected of plotting an attack on the cricket World Cup taking place in South Asia. Maldivian national Iqbal Mohamed, 42, was arrested on March 10 as he arrived at Male International airport from Pakistan following a tip-off from the international police […]
Sri Lanka venture capital firm invests in wind power
Mar 28, 2011 (LBO) – Sri Lankan venture capital Lanka Ventures said it will invest 384 million rupees through a subsidiary to set up a wind power plant on the island’s north-west coast. A stock exchange filing said LVL Energy Fund (LEF), a fully-owned subsidiary of Lanka Ventures, has signed a deal with LTL Holdings […]
Sri Lanka power conspiracy alleged in fuel move
Mar 28, 2011 (LBO) – Sri Lanka’s power ministry has alleged that a private sector conspiracy could be behind the sudden withdrawal of fuel supplies to a thermal power plant which had failed to pay arrears. It said in a statement the Ceylon Petroleum Corporation, under the petroleum ministry, had stopped supplying heavy fuel oil […]
Sri Lanka Murali to raise cash for war-displaced
March 28, 2011 (AFP) – Sri Lanka’s legendary bowler Muttiah Muralitharan plans to travel overseas to drum up funds to build a sports complex for war-displaced civilians. Muralitharan, who holds the world record for 800 Test and 538 one-day wickets, wants to build the centre in northern Sri Lanka to build a new life for […]
India, Pakistan mind games begin in Asia super show
NEW DELHI, March 27, 2011 (AFP) – India and Pakistan kicked-off the mind games ahead of their World Cup semi-final blockbuster on Sunday while New Zealand attempted to halt a three-pronged Asian assault on the title. “Let it remain as cricket and don’t make us feel as if we are standing on a war front,” […]
Sri Lanka credit growth not alarming: CB Governor
Mar 28, 2011 (LBO) – Sri Lanka’s 28. 1 percent credit growth in the 12 months to January 2011 “is not alarming” because it is growing from a low base following a credit crunch two years ago, but the trend is being watched, Central Bank governor Nivard Cabraal said. In 2009, Sri Lanka’s credit contracted […]
” circles the globe
WASHINGTON, March 27, 2011 (AFP) – Lights went off around the world Saturday as landmark buildings and ordinary homes flipped their switches while the annual “Earth Hour” circled the planet in what was dubbed the world’s largest voluntary action for the environment. In Paris a minute’s silence was observed for Japan as the city of […]
Bulls turn bears on India as doubts grow
NEW DELHI, March 27, 2011 (AFP) – Investors have turned bearish on India despite government forecasts of nine percent economic growth, as concerns over widespread corruption and high inflation knock confidence, analysts say. Only a few months ago investors were pouring into Indian equities, seeing the country as a promising high-growth market and talking about […]
‘s Earth Hour for six
March 27, 2011 (AFP) – Sri Lanka put off marking “Earth Hour” because it clashed with the cricket World Cup, an official said Sunday. Sri Lanka had joined the WWF drive to switch off lights for an hour on Saturday to display its green credentials, but the day-night match between England and the home team […]