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29 asylum-seekers stopped off Australia: minister
SYDNEY, October 23, 2009 (AFP) – Australian border guards intercepted a boat carrying 29 suspected asylum-seekers off the country’s northwest on Friday, the home minister said, as debate raged over a sharp rise in arrivals. Home Minister Brendan O’Connor said the 29, along with four crew, were stopped near Ashmore Island, off Australia’s northwest coast. […]
Sri Lanka urged to cut tax breaks
Oct 23, 2009 (LBO) – Sri Lanka should cut down on tax incentives to attract Foreign Direct Investments (FDI) and concentrate on improving the business climate to maximize the benefits of peace, a senior economist said. Despite vast concessions offered to investors Sri Lanka could only muster 900 million dollars in FDI in 2008. Most […]
Sri Lankan shares down 0.85-pct
Oct 22, 2009 (LBO) – Sri Lankan shares failed to hold onto morning gains Thursday as retailers with weak finances sold to meet margin calls, while some investors were seen taking profits from yesterday’s gains, brokers said. The All Share Price Index closed down 0.85 percent (25.73 points) to end at 2,992.87, while the Milanka […]
Deposit Franchise
Oct 22, 2009 (LBO) – RAM Ratings Lanka said it has assigned long- and short-term financial institutions rating of A and P1 to Sri Lanka’s State Mortgage and Investment Bank (SMIB). “The ratings are primarily based on the state ownership of the bank, tempered by the wide asset-liability maturity mismatch (ALMM) inherent in its business […]
Sri Lanka tea output down in September
Oct 22, 2009 (LBO) – Sri Lanka’s production of black tea in September 2009 fell three percent to 25.5 million kilos from a year ago, according to the Sri Lanka Tea Board’s statistics. The deficit of 42 million kilos makes up for the bulk of the global tea production shortfall that has driven up prices […]
Nomadic Workers
Oct 22, 2009 (LBO) – Sri Lanka’s migrant workers and their remittances are unlikely to be seriously affected by the global economic slowdown, the Institute of Policy Studies said in a report. But unskilled migrant workers, especially those in the construction industry, may be affected by the slowdown in construction and service sectors in Gulf […]
Australia set for decades-long mining boom: top official
SYDNEY, October 22, 2009 (AFP) – Australia could be set for a decades-long commodities boom fuelled by rocketing demand from China and India, a senior official said in the country’s latest upbeat economic assessment. Treasury secretary Ken Henry also said a return to full employment was a “conceivable possibility” in the coming years, with major […]
”s cheapest car
NEW DELHI, October 22, 2009 (AFP) – The world’s cheapest car, the Nano, launched by Indian maker Tata earlier this year, faces possible checks after owners complained of fires apparently caused by short circuits.But Tata Motors said it would not order a recall of the Nano, at least 7,500 of which have been delivered since […]
Sri Lanka budget airline to get six planes
Oct 22, 2009 (LBO) – Sri Lanka’s loss-making state-owned budget airline, Mihin Lanka, is to buy six aircraft, Ports and Aviation Minister Chamal Rajapaksa said.He made the revelation during a debate in parliament on Sri Lankan Airlines, the national carrier, also state-owned, our sister news website, Vimasuma.com reported. Rajapaksa did not give further details about […]
” on asylum boats
SYDNEY, October 22, 2009 (AFP) – Australia’s Prime Minister Kevin Rudd Thursday angrily denied extremists were among hundreds of asylum-seekers arriving in the country, as another two boats were stopped off the northern coast.Rudd demanded that opposition leader Malcolm Turnbull withdraw support for renegade backbencher Wilson Tuckey, who said there were “narrow odds” some of […]