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” return to 9.0 percent growth
NEW DELHI, July 6, 2009 (AFP) – India’s finance minister targeted a return to 9.0 percent economic growth “at the earliest” in a budget speech Monday that suggested the country had seen off the worst of the global financial crisis.But in announcing increased funding for farmers and poverty alleviation programmes, Pranab Mukherjee also warned that […]
Australia pressures Malaysia on people-smuggling
KUALA LUMPUR, July 6, 2009 (AFP) – Malaysia on Monday appealed for international help to curb people-smuggling, amid talks with Australian leaders who are pushing for action to close down illegal migration routes.Prime Minister Kevin Rudd is due to arrive here later Monday to pressure Malaysia on the thousands of illegal immigrants hit by wars […]
Pakistan chase 168 to win first Sri Lanka Test
GALLE, July 6, 2009 (AFP) – Pakistan faced a target of 168 runs to win the first cricket Test after bowling Sri Lanka out for 217 in their second innings after tea on the third day on Monday. Tharanga Paranavitana top-scored with 49, while fast bowler Mohammad Aamer and off-spinner Saeed Ajmal picked up three […]
Sri Lanka wipe out deficit in first Pakistan Test
GALLE, July 6, 2009 (AFP) – Sri Lanka batted cautiously on a lively wet pitch to cancel Pakistan’s 50-run lead on the third day of the first cricket Test here on Monday.The hosts took their second innings from the overnight 0-0 to 70-2 by lunch and now lead by 20 runs with eight wickets in […]
India offers US$100mn for Sri Lankan Tamils
NEW DELHI, July 6, 2009 (AFP) – India on Monday offered 100 million dollars for the tens of thousands of Tamil civilians displaced by conflict in Sri Lanka. India is home to millions of Tamils in southern Tamil Nadu state, which is separated by a narrow strip of sea from Sri Lanka.“I propose to allocate […]
Keel Laying
July 05, 2009 (LBO) – Sri Lankan shipyard Colombo Dockyard said it has laid the keel for construction of the third Multipurpose Platform Supply Vessel for Greatship India.The vessels can undertake multi-purpose roles such as transportation of pipes, fresh water, diesel oil, bulk cement, stores, equipment, moving men and materials between platforms and shore, and […]
Lease Rating
July 05, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed the Commercial Leasing Company (CLC) national rating at ‘A-(lka)’, with a stable outlook. Ficth said in a statement CLC’s rating reflects its fairly strong financial profile, good asset quality and implied support assumed to be available from its parent, Lanka ORIX Leasing Company […]
Media Muzzle
July 05, 2009 (LBO) – Fresh attempts by Sri Lanka’s government to muzzle the press and block the freedom speech of the people through a draconian law will hurt the economy and corporate sector, a senior lawmaker and commentators have warned. “This archaic law’s provisions effectively ban the reporting of matters as sweeping as those […]
India looks to cut out the middlemen on gold
MUMBAI, July 5, 2009 (AFP) – Gold has long had a special attraction for Indians.Loaded with cultural and religious significance, it is considered an auspicious metal and a visible sign of wealth and prosperity.Four refineries — two in Mumbai and two in Ahmedabad, in nearby Gujarat state — have already been approved.It is hoped to […]
Indian budget faces tough balancing act: economists
MUMBAI, July 5, 2009 (AFP) – India’s new Congress-led government will have to balance conflicting objectives of spurring growth and reining in a soaring fiscal deficit when it presents its first budget on Monday.Economists and analysts predict the budget will focus on regulatory and structural reform to stimulate growth, rather than announcing large government stimulus […]