All Blogs
‘s telecom minister denies corruption after raid
NEW DELHI, October 23, 2009 (AFP) – India’s telecom minister Friday denied any corruption in the awarding of new licences to telecom companies in the country last year after a raid by federal police on his ministry.India’s federal criminal investigation agency raided the Department of Telecommunications (DoT) on Thursday on suspicion that mobile phone network […]
Sri Lanka political stability seen key to foreign investment
Oct 24, 2009 (LBO) – Post-war Sri Lanka’s ability to attract foreign investments would depend on how the island resolves minority Tamil grievances, eliminates residual security threats and improves its finances, a World Bank report said. “The end of armed conflict provides Sri Lanka with a historic opportunity to achieve a dual transition from a […]
Sri Lankan shares end bad week on high note
Oct 23, 2009 (LBO) – Sri Lankan stocks bounced backed strongly Friday, as retailer’s regained confidence to hold their investments and were upbeat on future company performance, but trading was low, brokers said. The All Share Price Index closed up 2.13 percent (63.75 points) to end at 3,056.62, while the Milaka Index of more liquid […]
Rural Transport
Oct 23, 2009 (LBO) – The Asian Development Bank said it has given financial assistance amounting to 70 million dollars to Sri Lanka for rebuilding roads in two provinces affected by war.The total investment cost of the project in the island’s Eastern and North Central Provinces is 78 million dollars of which eight million will […]
Sri Lanka milk farmers get marketing support
Oct 23, 2009 (LBO) – The US Agency for International Development (USAID) said it has partnered with a unit of the listed Chemical Industries (Colombo) (CIC) to help milk farmers take their product to market and increase incomes. The agency said in a statement it has established a dairy farmer network in Punani, in the […]
Charity Front
WASHINGTON, October 22, 2009 (AFP) – About 30 victims of attacks by Sri Lanka’s rebel Tamil Tigers filed a suit Thursday against the billionaire head of a US hedge fund facing insider trading charges. The suit alleges that Galleon Group founder Raj Rajaratnam and a family foundation led by his father gave more than five […]
Canada ship migrant wanted on terror charges
OTTAWA, October 22, 2009 (AFP) – One of 76 migrants arrested on a rusted ship off Canada’s Pacific Coast is wanted in Sri Lanka on terror charges, a source close to the investigation said Thursday.The 26-year-old man, whose identity was withheld due to a court-ordered publication ban, is being sought by Sri Lankan authorities who […]
Sri Lanka not claiming full duty free access to US
Oct 23, 2009 (LBO) – Sri Lankan exporters are not making enough use of duty free access to the United States under its Generalized System of Preferences (GSP) programme, officials said. “It is necessary to educate our exporters about the duty free access to the US,” said Gomi Senadheera, Sri Lanka’s Director-General of Commerce. “There […]
Sri Lanka at disadvantage in Iraq tea tender
Oct 23, 2009 (LBO) – Iraq has issued a tender for 15 million kilos of packed black tea but Sri Lankan exporters are disadvantaged by high prices of Ceylon teas and payment problems, a broker said. But the deficit is still 42 million kilos compared with the output in 2008. The global tea tea production […]
Sri Lanka GSP trade deal dropped from EU resolution
Oct 23, 2009 (LBO) – A European Parliament resolution that was critical of Sri Lanka’s human rights record dropped a reference to the GSP Plus trade deal giving duty free access to the island’s exports to European Union markets.The future of the GSP deal is in doubt after a European Commission report earlier in the […]