Author: lbostgadmin
Rights group urges Sri Lanka to end detention laws
September 8, 2011 (AFP) – The Human Rights Watch lobby group on Wednesday urged Sri Lanka to scrap draconian detention laws and free thousands of people held under the regulations. The New York-based body said Sri Lanka’s ending of a decades-long state of emergency last week would have little effect as separate anti-terror laws still […]
And the heavens showered Earth with gold
PARIS, September 7, 2011 (AFP) – Were it not for meteorites striking Earth some four billion years ago, humans would never have laid eyes on the gold that has raised and ruined civilisations, according to a study published Thursday. Two hundred million years earlier, during the violent throes of planetary formation, Earth was a mass […]
Broadcast Business
Sep 08, 2011 (LBO) – Sri Lanka’s East West Properties has spent 49.3 million rupees to buy control of People’s Media Network which operates radio and television broadcasting stations. A stock exchange filing said East West Properties, controlled by businessman Nahil Wijesuriya, bought 4.9 million ordinary shares or a 51 percent stake in People’s Media […]
Sri Lanka tea prices recover
Sep 08, 2011 (LBO) – Prices of teas made by Sri Lankan plantation company estates rose this week although still below production cost as supply fell and demand improved with brokers saying the market seems to have bottomed out. There was good demand at the Colombo auctions with improved buying mainly from shippers to the […]
Sri Lanka stocks end weaker
Sep 08, 2011 (LBO) – Sri Lankan stocks closed weaker Thursday with interest in a coconut products exporter and continued buying of John Keells Holdings, after Wednesday’s deals, as well as in CT Holdings, brokers said. Ceylon Tea Brokers was among the most heavily traded stocks, closing at 8.40 rupees, up 40 cents, with over […]
Sri Lanka should stop defending currency peg: IMF
Sept 07, 2011 (LBO) – Sri Lanka should stop defending a dollar peg and allow the domestic currency to respond to market developments, the International Monetary Fund has said. Aitken said Sri Lanka’s interest rates were appropriate now but the central bank should watch credit growth and take action in the future. The IMF cautioned […]
” war probe
September 7, 2011 (AFP) – Amnesty International on Wednesday said Sri Lanka’s inquiry into its military victory over Tamil rebels was “flawed at every level” and no substitute for an international war crimes investigation. The human rights watchdog issued a 69-page report slamming the work of the government’s Lessons Learnt and Reconciliation Commission (LLRC) ahead […]
Ford building $1bn manufacturing complex in India
NEW DELHI, September 6, 2011 (AFP) – US auto giant Ford has started construction on a $1 billion manufacturing and engineering complex in India as it bets on the country to help drive global growth, a company statement said Tuesday. The Detroit firm still has a long way to go to make the region a […]
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NEW DELHI, September 7, 2011 (AFP) – For advertising executive Govind Nair, working in India’s outsourcing industry for a California telecoms firm means burning the candle at both ends for his customers. “They try to be considerate. They know there’s a 12-and-a-half-hour time difference between India and San Francisco but we still end up getting […]
Sri Lanka UK researchers in bid to save rare loris
Sept 07, 2011 (LBO) – Researchers from Sri Lanka and the United Kingdom are devising ways to save a rare primate that is threatened with extinction from habitat loss, including a species that was ˜rediscovered’ two years ago. The University of Colombo, Open University of Sri Lanka and the Zoological Society of London (ZSL) is […]
Electronic Transfer
Sep 07, 2011 (LBO) – Sri Lanka’s Commercial Bank is offering companies an electronic payment service for Employees’ Provident Fund (EPF) payments via its ˜Paymaster’ system. “Payments via Paymaster can be made by simply uploading a file to Commercial Bank’s web platform,” a statement said. “There are no limits to the number of transactions and […]
Sri Lanka stocks end up 0.6-pct
Sep 07, 2011 (LBO) – Sri Lankan stocks closed higher Wednesday, with several private deals in conglomerate John Keells Holdings boosting turnover and speculative trades continuing in other shares, brokers said. HVA Foods was also heavily traded, closing at 77. 60 rupees, up 2.50, with 2.85 million shares done. There was a sole crossing of […]