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‘s new rich prove reluctant philanthropists
NEW DELHI, December 30, 2010 (AFP) – A huge charity gift by a high-tech tycoon has shone a harsh light on the philanthropic track record of India’s established and emerging billionaires. Azim Premji, who transformed a family-owned cooking oil firm into the software giant Wipro, announced earlier this month that he was giving two billion […]
Indians to outnumber Chinese in 2025: US
WASHINGTON, December 29, 2010 (AFP) – India is on course to top China as the world’s most populous country in 2025, the US Census Bureau forecast, potentially changing the dynamics between the Asian giants. The latest Census Bureau estimates out this week, which are in line with previous studies, predicted that India would have 1. […]
Sri Lanka hydro electricity firm in power purchase deal
Dec 30, 2010 (LBO) – Hydro Power Free Lanka (HPFL) has entered into agreements with Sri Lanka’s state power utility and investment promotion agency to sell power and get tax concessions, according to a stock exchange filing. Its subsidiaries, Hydro Power Free Lanka 2 and Hydro Power Free Lanka 3, have begun building two min-hydro […]
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December 30, 2010 (AFP) – Sri Lanka is to drop all remaining references to its British colonial name “Ceylon” from state institutions, a government spokesman said Thursday. The cabinet considered a proposal to rename the Ceylon Electricity Board and decided it should be extend to other official organisations, an information ministry official told AFP. “The […]
Sri Lanka says met IMF December targets for loan disbursement
Dec 30, 2010 (LBO) – Sri Lanka has met key targets in December under a deal with the International Monetary Fund to qualify for further loan disbursements, central bank deputy governor Dharma Dheerasinghe said. “Sri Lanka has met the IMF targets for December after meeting the September targets,” Dheerasinghe told Vimasuma.com, our sister news website. […]
Sri Lanka Treasuries yields ease
Dec 29, 2010 (LBO) – Sri Lanka’s short-term Treasury bill yields eased at Wednesday’s auction with the government rolling five billion rupees worth of maturing bonds, the debt office said. The yield on three-months bills fell to 7.24 percent from 7.25 percent, that on six-month bills also fell to 7.35 percent from 7.38 percent while […]
Sri Lanka shares end up 0.09-pct
Dec 29, 2010 (LBO) – Sri Lankan stocks closed higher Wednesday with institutions showing a high level of activity in trading, brokers said. The All Share Price Index closed at 6,646.92, up 0.09 percent (5.84 points) while the more liquid Milanka index rose 0.16 percent (37.09 points) to close at 7,074.83, according to stock exchange […]
Sri Lanka shares end up 0.3-pct
Dec 28, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday with investors focusing on the banking sector, brokers said. The All Share Price Index closed at 6,641. 08, up 0.30 percent (19.57 points) while the more liquid Milanka index rose 0. 53 percent (37.09 points) to close at 7,063.65, according to stock exchange provisional […]
Heavy Lift
Dec 29, 2010 (LBO) – Sri Lankan logistics firm FPS Lanka is considering setting up offices in the new southern port of Hambantota and in eastern Trincomalee harbour to handle an anticipated influx of cargo flows for post-war reconstruction. It expects new logistics contracts to be awarded in the first quarter of 2011 as projects […]
Trade Links
Dec 29, 2010 (LBO) – India is helping Sri Lanka to revive commercial operations at a port and airport in the island’s north to re-establish regional trade and communications links, a statement said. The High Commission of India said Defence Secretary of India, Pradeep Kumar, had discussed the projects during a three-day visit to Sri […]