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‘s war heroes battle for a clean image
December 20, 2009 (AFP) – A presidential election in Sri Lanka next month will see two former allies from the country’s bitter civil war slugging it out, but their record on corruption, not the battlefield, might swing the final vote.President Mahinda Rajapakse and his former army chief Sarath Fonseka are set to face each other […]
Sri Lanka to change price index basket next year
Dec 19, 2009 (LBO) – Sri Lanka will change the basket of goods in its most widely watched price index from next year and re-base it to reflect consumption patterns of a newer survey, an official said.The revised index itself was made ‘official’ suddenly at the height of an inflation bubble in April 2008, when […]
Copenhagen deal passed amid condemnation, disappointment
COPENHAGEN, December 19, 2009 (AFP) – A UN conference on Saturday rammed through a battle plan against climate change forged by US President Barack Obama and other top leaders, sidelining smaller states which lashed the deal as a betrayal.After toxic exchanges through the night, the summit chair forced through a deal using a procedural tool […]
Climate leaders: The rhetoric vs. the reality
COPENHAGEN, December 19, 2009 (AFP) – They had been urged to side with the angels but ultimately, base political instinct seems to have prevailed among the world’s most powerful leaders as they sealed a climate pact among themselves, sparking fury elsewhere.From the eve of the 12-day marathon right until its finale, the overwhelming message in […]
‘s explosive 123
NAGPUR, December 18, 2009 (AFP) – Tillakaratne Dilshan hammered a second successive century to power Sri Lanka to a thrilling three-wicket victory over India in the second one-day international here on Friday.The opener, who made 160 in the last match, cracked a rapid-fire 123 as Sri Lanka surpassed India’s 301-7 with five balls to spare […]
Sri Lanka call to end tax exemptions for public servants
Dec 18, 2009 (LBO) – The head of Sri Lanka’s top business chamber has called for an end to tax exemptions given to public servants, saying it was unfair by hardworking private sector employees and also eroded government revenue.A discriminatory import duty structure that favours politically powerful local business interests against all consumers in the […]
Sri Lanka stocks hit new high
Dec 18, 2009 (LBO) – Sri Lankan shares closed at an all-time high Friday on strong buying by institutional and retail investors who brokers said appeared to be gaining more confidence in the market.The benchmark Colombo All Share Price Index (ASPI) closed up 1.73 percent (54.35 points) to end at 3,188.82 Monday, while the Milanka […]
Quick Recovery
Dec 18, 2009 (LBO) – The long term rating of People’s Merchant Finance Company has been upgraded from B+ to BBB-, on the strength of its t company Peoples Bank. PMB has also announced a rights issue for which its parent has already pledged support. It intends to raise 250 million rupees to retire its […]
Sri Lanka commodity futures exchange mooted
Dec 18, 2009 (LBO) – Sri Lanka should set up a commodity futures exchange and introduce forward contracts to make farmers more efficient and earn more, a policy advocacy group has suggested.“We must use information communications technology to give farmers information on weather, prices, costs and procurement of inputs.” “The forward sale contract system should […]
Early Warning
Dec 18, 2009 (LBO) – Sri Lanka got a 24.9 million Euro loan from Rabobank of the Netherlands for the second phase of an upgrade to its existing disaster response network, a Finance Ministry statement said. Over 35,000 people were killed in Sri Lanka by the 2004 Indian Ocean tsunami when the island did not […]