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Sri Lanka suspends Fonseka court martial
May 3, 2010 (AFP) – Sri Lanka’s court of appeal on Monday suspended a court martial against former army chief Sarath Fonseka, who tried to unseat the president in elections earlier this year. The court ordered the military tribunal that began hearings against Fonseka in March to halt its work until a decision has been […]
Sri Lanka pardons jailed Tamil editor: minister
May 3, 2010 (AFP) – Sri Lanka on Monday pardoned a convicted Tamil editor whose 20-year prison term last year for supporting “terrorism” drew international criticism, the foreign minister said Monday. J. S. Tissainayagam, who edited North Eastern Monthly magazine in Colombo, has been pardoned by President Mahinda Rajapakse to coincide with World Press Freedom […]
Sri Lanka US embassy salutes journalists
May 03, 2010 (LBO) – The US embassy in Colombo says the World Press Freedom Day which falls on May 03 is a reminder to citizens and government that a free media is an essential part of democracy. “In democracies, the people are sovereign, and representatives and elected officials derive their power from them,” the […]
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PARIS, May 3, 2010 (AFP) – Media watchdog Reporters Without Borders named Monday the world’s 40 worst “predators of the press” including politicians, religious leaders and militias to mark World Press Freedom Day. “They are powerful, dangerous, violent and above the law,” the Paris-based watchdog RSF said. “These predators of press freedom have the power […]
India weighs capital controls as high rates push rupee up
NEW DELHI, May 2, 2010 (AFP) – India’s government is weighing capital controls with the rupee on the rise amid fears of “hot money” flowing into the country as investors pile back into Indian assets. Unlike fellow emerging market giant China, India allows its currency to float freely and the central bank has warned of […]
Sri Lanka insurer says Northern volumes up
May 02, 2010 (LBO) – HNB Assurance, a fast growing insurer says volume expansion in Sri Lanka’s north is ‘exceptional’ as the region recovers from a 30-year war and links are restored with the rest of the island. The company now has 540 staff up from 25 in 2001. HNB Assurance says it was able […]
Sri Lanka top economists, poll, back IMF fiscal restraint: report
May 02, 2010 (LBO) – Top Sri Lankan economists and a poll by an influential newspaper has backed the revival of a stalled International Monetary Fund deal to discipline government spending and preserve economic stability. A poll by Sri Lanka’s by the Business Times, a part of Sri Lanka’s The Sunday Times an influential English, […]
Finance Houses
May 01, 2010, JAFFNA, Sri Lanka (LBO) – Sri Lanka’s finance companies are expanding with confidence returning to the sector following a panic 2009, though regulators are working on a handful of troubled firms, Central Bank Governor Nivard Cabraal said. Sri Lanka’s Bartleets Financial Services and Central Investments and Finance Limited (CIFL) opened branches in […]
India, Japan set to conclude trade pact in 2010: minister
NEW DELHI, April 30, 2010 (AFP) – India and Japan should be able to conclude a free trade pact to liberalise commerce this year, a minister said Friday. Once the free trade agreement comes into effect as many 9,000 products — ranging from steel and clothing to drugs and machinery — are expected to be […]
Sri Lanka holds first post-war May Day
May 1, 2010 (AFP) – Sri Lanka’s political parties were holding May Day rallies on Saturday for the first time since the ending of nearly four decades of ethnic bloodshed. Nearly a dozen meetings were scheduled in the capital and suburbs, but labour day celebrations by opposition parties were low-key following their drubbing in two […]