All Blogs
‘s ruling party figure defects
January 24, 2010 (AFP) – Sri Lanka’s president suffered a major defection on Sunday when the matriarch of his party pledged support for the main opposition candidate ahead of Tuesday’s fiercely contested election. Kumaratunga’s family has strong support among SLFP activists and her endorsement is seen as a boost to Fonseka, who is backed by […]
Lawmaker bids to make Nepal gay tourism destination
KATHMANDU, January 24, 2010 (AFP) – Nepal will this year play host to a royal wedding with a difference when an openly gay Indian prince marries his partner at a Hindu temple in Kathmandu. The ceremony is the start of what Nepalese lawmaker Sunil Babu Pant hopes will become a lucrative business for his country, […]
Tense peace reigns as Sri Lanka heads to polls
January 24, 2010 (AFP) – War-scarred Sri Lanka holds a peace-time presidential election this week after a bitter and highly personal campaign between the architects of the crushing of an almost four-decade-long insurgency. President Mahinda Rajapakse will face his former army chief Sarath Fonseka on Tuesday in an intriguing contest between two men who were […]
Liquidation Status
Jan 23, 2010 (LBO) – Sri Lanka’s central banks says depositors of several failed financial firms are being settled according to court directions and others could be settled with Treasury bills when assets are identified. (ii) Finance and Guarantee Property Development Company (Pvt.) Ltd. and F&G Real Estate Company Ltd: The Court has directed the […]
Sri Lankan tea output down in 2009 despite year end rally
Jan 23, 2010 (LBO) – Sri Lanka’s tea production was fell 9.0 percent to 289.77 million kilograms in 2009, despite a sharp recovery in output in the latter part of the year amid surging prices. In December tea output rose 29.5 percent to 25.1 million kilogram from a year earlier. Orthodox black tea, which is […]
Arms Dealing
WASHINGTON, January 23, 2010 (AFP) – A New York court sentenced two men to 14 and 26 years in prison Friday for providing support to the Tamil Tigers separatist group, the Justice Department said Friday. Government troops killed the LTTE leadership and declared the total annihilation of the separatist guerrillas on May 18, ending Asia’s […]
Sri Lanka opposition warns of violence ahead of vote
January 23, 2010 (AFP) – Sri Lanka’s opposition warned on Saturday of possible vote-rigging and violence by the ruling party ahead of next week’s presidential election as both sides wound up campaigning. Ahead of the final rallies later on Saturday, opposition candidate Sarath Fonseka predicted that the ruling party, led by President Mahinda Rajapakse, would […]
Sri Lankan stocks close 0.34-pct higher
Jan 22, 2010 (LBO) – Sri Lanka stocks closed 0.3 percent higher Friday as investors awaited presidential polls on January 26 and December quarter results also started to trickle in, brokers said. The All Share Price Index closed at 3,531.73, up 12.02 points, while the Milanka index of more liquid stocks slipped 0.10 percent (3.93 […]
Rate Cut
Jan 22, 2010 (LBO) – Sri Lanka’s central bank said loans given to war torn northern and eastern areas for economic revival under a special scheme would be cut to 9.0 percent from the current 12.0 percent. The central bank said the loans were available from Bank of Ceylon, People’s Bank, Hatton National Bank, Commercial […]
Bank Block
WASHINGTON, January 22, 2010 (AFP) – President Barack Obama unveiled plans Thursday to limit the size and scope of US banks and financial firms in a new offensive against Wall Street excesses laid bare by the financial crisis. “Never again will the American taxpayer be held hostage by a bank that is too big to […]