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Sri Lanka power firm warns of time lag
Nov 13, 2007 (LBO) – A power investor says it may take more than two years to set up a thermal plant if it was given the go ahead now, after Sri Lanka’s power minister said the state electricity utility was seeking additional capacity. . “If we were given the go ahead now, it may […]
Bangladesh launches Internet sabotage probe
DHAKA, Nov 13, 2007 (AFP) – Bangladesh on Tuesday launched an investigation after the country’s Internet link was sabotaged, disrupting communications nationwide for most of the day.Officials said cables were also severed twice last week causing massive disruption to businesses in the impoverished country. “We are investigating the cable cutting incident which took place today […]
China concerned at 6.5-pct inflation; GDP growth 11.5-pct
BEIJING, Nov 13, 2007 (AFP) – China’s consumer price index, the main gauge of inflation, rose 6.5 percent in October year-on-year, the government said Tuesday, as Premier Wen Jiabao promised to stabilise prices.The figure was up from 6.2 percent in September, and the same as the 6.5 percent in August, then the highest level in […]
Commonwealth gives Pakistan suspension ultimatum
LONDON, Nov 13, 2007 (AFP) – The Commonwealth on Monday gave Pakistan a 10-day deadline to restore its constitution and lift other emergency measures or face suspension from the 53-nation grouping.The ultimatum came after emergency talks among the Commonwealth Ministerial Action Group (CMAG) in London to decide how to respond to President Pervez Musharraf’s declaration […]
Sri Lanka media hit by Australian agency blackout; fears of anti-Murali conspiracy
Nov 13, 2007 (AFP) – Sri Lanka fears missing out on hero Muttiah Muralitharan’s feat of becoming the greatest ever wicket taker in Test cricket because of an ongoing dispute over media access. Master spinner Muralitharan needs just seven wickets to overtake retired Australian and fellow spinner Shane Warne’s world record tally of 708. Muralitharan […]
Sri Lanka to take action against Marvan after second test
Nov 13, 2007 (LBO) – Sri Lanka would take action against batsman Marvan Atapattu after the second test with Australia, a top official said. Sri Lanka Cricket interim chief Jayantha Dharmadasa told LBO that the decision was taken Monday. Atapattu was quoted by the media as saying that Sri Lanka’s cricket selectors were a “set […]
Sri Lanka rupee gains, excess liquidity drops
Nov 12, 2007 (LBO) – The Sri Lanka rupee strengthened to 110.32/35 in spot trade Monday recovering losses made last week dealers said, while the central bank was progressively reducing excess liquidity. In equity markets, the benchmark Colombo All Share Index closed up 0.46 percent at 2,631.43 and the Milanka Index of liquid stocks ended […]
Guarantee Game
Nov 12, 2007 (LBO) – Loan guarantees given by the Sri Lanka government to financial institutions shot up 45 percent in 2007 as the state took over credit risks of large power projects, newly published documents have revealed. Disclosures under Sri Lanka’s fiscal responsibility law shows that total loan guarantees given to financial institutions are […]
Steady Course
Nov 12, 2007 (LBO) – Sri Lanka Seylan Bank group’s after tax profits increased 41.4 percent in the third quarter ending in September while turnover grew by 27.3 percent with a relatively flat loan growth. Group net profit after tax grew to 150.7 million rupees in the three months ended September 2007 from 106.6 million […]
”: Council of Europe report
PARIS, Nov 12, 2007 (AFP) – The Council of Europe issued a damning report Monday accusing governments of eroding basic rights in the name of the United States-led “war on terror”.“Increasingly, in the name of the war on terror, the executive is in the process of severely limiting the sphere of competence of judiciary power,” […]