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Sri Lanka fills vacancy in rate-setting monetary board
Dec 11, 2007 (LBO) – Sri Lanka has appointed Manohari Ramanathan, an attorney-at-law to fill a vacancy in the governing body on the country’s monetary authority which also sets interest rates. .Updated The Central Bank of Sri Lanka said Ramanathan’s appointment will take effect from December 06, 2007. She had joined the Legal Draftsman’s Department […]
Sri Lanka rupee volatile against greenback Monday
Dec 10, 2007 (LBO) – The Sri Lanka rupee came down from early highs of 108.10/20 against the greenback to lows of 109.50 in spot trade Monday showing unusual intra-day volatility, dealers said. Sri Lanka’s forex markets are not used to high levels of volatility as the Central Bank plays a market maker role to […]
Singapore to invest almost 10 billion dollars in troubled UBS
SINGAPORE, Dec 10, 2007 (AFP) – The Singapore government’s investment arm announced Monday that it will inject almost 10 billion US dollars into Swiss bank UBS, its largest ever investment in a company.The Government of Singapore Investment Corporation (GIC) said it would inject 11 billion Swiss francs (9.74 billion US dollars) into UBS, which on […]
South American inflation kings launch regional bank
BUENOS AIRES, Dec 9, 2007 (AFP) – Six South American presidents on Sunday launched the Bank of the South, the region’s answer to the World Bank and the International Monetary Fund as a source for development funds. Presidents Nestor Kirchner of Argentina, Luiz Inacio Lula da Silva of Brazil, Nicanor Duarte of Paraguay, Rafael Correa […]
‘s eight-wicket pair frustrate Sri Lanka in second Test
COLOMBO, Dec 10, 2007 (AFP) – England’s eight-wicket pair of Matthew Prior and Ryan Sidebottom put on 55 undefeated runs to keep Sri Lanka at bay in the second cricket Test here on Monday.England, looking for a series-levelling win after losing the first Test in Kandy last week, took their first innings to 327-7 by […]
Sri Lanka could stabilize economy with inflation targeting: IMF director
Dec 10, 2007 (LBO) – Sri Lanka could stabilize its economy and rein in galloping prices by moving to an inflation targeting framework and a flexible exchange rate, a top International Monetary Fund official said. Unlike East Asia and some Latin American countries, critics say five decades after creating a central bank with money printing […]
No Sri Lanka eco clearance for Booker Tate project yet
Dec 09, 2007 (LBO) – Sri Lanka has not given environmental clearance for a controversial sugar project yet and its first application for approval has been rejected, a top official said. . A cane cultivation project in Bibile, in the Uva province of Sri Lanka, has drawn heavy fire from environmental activists and academics who […]
Clemency
Dec 09, 2007 (LBO) – A Saudi Arabian court has begun reviewing the case of a Sri Lankan housemaid condemned to death for killing a four-month-old infant in her care. The Middle Eastern English language daily Arab News reported Sunday that a three-member court, headed by Dawadmi High Court chief judge Abdullah Abdul Aziz Al-Rosaimi, […]
Still On
Dec 09, 2007 (LBO) – A Saudi Arabian court has begun to review a case where a Sri Lankan teenaged maid was accused of murdering an infant in her care, but a decision may take more time, a report from the desert kingdom said. . The lawyer of the maid Rizana Nafeek was quoted by […]
Reducing carbon emissions: the options
NUSA DUA, Indonesia, Dec 9, 2007 (AFP) – Here are the main options for tackling greenhouse-gas emissions, listed by order of feasibility: – ENERGY EFFICIENCY: Improve energy efficiency in transport, buildings, appliances, lighting. ADVANTAGE: Can make big, early gains in braking growth in carbon pollution.DISADVANTAGE: Tougher standards may run into opposition from transport lobby, consumer […]