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Regional Finance
Feb 23, 2010 (LBO) – An affiliate of Sri Lanka’s Sampath Bank in Bangladesh is planning to list its stock brokering firm in the country’s booming stock market, a media report said, though there were fears of a correction. Bangladesh’s stocks have been going through a bull run prompting fears of a bubble. On Monday […]
Sri Lanka January tea crop back to normal
Feb 23, 2010 (LBO) – Production of tea, Sri Lanka’s main export crop, showed a return to normal levels in January as the industry recovered from the effects of drought and labour action that sharply reduced output last year. The Tea Board has said it expects annual tea production this year to be more than […]
Shunned Jobs
SEOUL, February 23, 2010 (AFP) – Migrants who tackle jobs shunned by most South Koreans urged the government on Tuesday to ease regulations complicating their lives and improve education to discourage discrimination. “They come for the 3D — dirty, dangerous and difficult — jobs, which are necessary here,” Aung Tin Htun, a Myanmar manager of […]
Design Economy
Feb 23, 2010 (LBO) – A wooden chair becomes a news paper holder when it is turned over once. When it is turned again, it becomes a small table. A small bench table can be lengthened into one five metres long, allowing more people to sit. A ten metre high mini library has a work […]
‘s Maruti recalls 100,000 A-Star cars over fuel leakage
MUMBAI, February 23, 2010 (AFP) – India’s biggest carmaker Maruti Suzuki India announced Tuesday it has recalled 100,000 of its best-selling A-Star hatchback cars due to a fuel leakage problem. “No problem has been reported by customers. ” The recall covers those A-Stars made between November 2008 and August 2009. The company, the leader in […]
Australia tightens rules on colleges for foreigners
SYDNEY, February 23, 2010 (AFP) – Australian colleges catering to foreign students will face more rigorous regulation by year’s end as the government weeds out unscrupulous operators, the education minister said Tuesday. Under a bill passed Monday, all colleges and schools providing courses to international students will have to re-register with the government under strengthened […]
‘s Supreme Court refuses to free Fonseka
February 23, 2010 (AFP) – Sri Lanka’s Supreme Court refused Tuesday to order the release of detained opposition leader and former army chief Sarath Fonseka as it deliberates a petition challenging his arrest by the military. As the battlefield architect of the victory over the Tamil Tiger rebels last May, Fonseka had been hailed as […]
Sri Lanka urged to be more transparent in business
Feb 23, 2010 (LBO) – The top US diplomat in Sri Lanka said the country should address the issue of greater transparency in business dealings to build investor confidence and attract more American investment. The challenge is to have transparency in business interactions and confidence in the legal framework that if a contract is signed […]
World Bank, Shakira join forces to aid young children
WASHINGTON, February 22, 2010 (AFP) – The World Bank and Grammy Award-winning singer Shakira teamed up Monday in a 300-million-dollar joint initiative aimed at helping young children in Latin America and the Caribbean. The Colombian artist is the founder of ALAS, a coalition of Latin American artists and business leaders that promotes early childhood development […]
Sri Lankan stocks up 0.13-pct, plantation shares gain
Feb 22, 2010 (LBO) – Sri Lankan stocks closed marginally higher Monday as investors took profit from high valued stocks and reinvested on strategic midcap shares with a high concentration on the plantation sector, brokers said. The All Share Price Index closed at 3,773. 55, up 4.74 points Monday, while the Milanka index of more […]