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South Asian governments urged to ease visa restrictions
Mar 03, 2010 (LBO) – Reducing visa restrictions and non-tariff barriers, and improving customs procedures are among a host of steps South Asian countries can take to boost private sector-led growth, the Asian Development Bank said. The report also highlights the need for South Asia to remove barriers to intra-regional investment, and to promote cross […]
Indian telecoms tycoon spooks investors with Africa move
NEW DELHI, March 3, 2010 (AFP) – Indian telecoms tycoon Sunil Bharti Mittal may be known for his Midas touch, but investors are questioning if his multi-billion-dollar bid to gain a foothold in Africa is a step too far. Mittal, chairman of Bharti Airtel, has seen shares of India’s biggest mobile firm tumble since he […]
‘s Ashok Leyland in small car talks: report
NEW DELHI, March 3, 2010 (AFP) – Japanese auto maker Nissan is in talks with India’s Ashok Leyland to develop a small car for the fast-growing Indian market, a report said Wednesday. The Business Standard newspaper quoted Nissan chief executive Carlos Ghosn as saying the group was looking for a new low-cost alliance in India […]
Sri Lanka Janashakthi Insurance gets selective to protect margins: official
Mar 03, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance wants to walk-away from unprofitable clients to protect fast-eroding profit margins and reduce underwriting costs, while looking to expand in the former northern war zone, a senior official said. “If you have the right management information system you can pick and chose clients and that is […]
China leads Sri Lanka foreign lenders in 2009: fiscal report
Mar 03, 2010 (LBO) – China became the top donor to commit aid to Sri Lanka in 2009 lining up more than half the total with 1. 2 billion US dollars, though Japan was still slightly ahead in actual disbursements, a finance ministry report said. A pre-election fiscal report issued this week ahead of parliamentary […]
Warm winters distress reindeer herders in Russian Arctic
LOVOZERO, March 2, 2010 (AFP) – In a billowing cloud of white, Russia’s Arctic herders drive thousands of panting and wild-eyed reindeer through the knee-deep snow to the first slaughter this year. But warm winters in recent years have forced herders here in the far northern Kola Peninsula to delay for months the rounding up […]
Sri Lanka extends emergency rule ahead of vote
March 2, 2010 (AFP) – Sri Lanka’s president has used his executive powers to extend a state of emergency that gives sweeping authority to police and troops ahead of next month’s parliamentary polls, an official said Tuesday. The president on Monday night signed a proclamation extending the tough laws by a further month, an official […]
‘s murder
March 2, 2010 (AFP) – Sri Lankan police are to question dozens of military intelligence officers in connection with the internationally condemned assassination of a senior editor, a spokesman said Tuesday. Investigations into the January 2009 slaying of Lasantha Wickrematunga, chief editor of the anti-establishment Sunday Leader, had led them to military personnel, said police […]
Sri Lanka plans 8-pct budget deficit for 2010: fiscal report
Mar 02, 2010 (LBO) – Sri Lanka is planning a budget with a deficit of about eight percent of gross domestic product for 2010, a finance ministry report said, after provisional data said the 2009 gap has increased to over ten percent of the economy. In 2009 the government hoped to run a deficit of […]
Sri Lanka overall budget deficit nears 10.3-pct of GDP in 2009
Mar 02, 2010 (LBO) – Sri Lanka’s budget deficit for 2009 has exceeded 10.2 percent of gross domestic product (GDP), with a planned 7.0 percent deficit derailed by weak revenues and sharply higher expenditure, a finance ministry report said. The pre-election fiscal report said the revenue deficit (the gap between total revenues and current expenditure) […]