Author: lbostgadmin
Australia defends Malaysia asylum seekers plan
SYDNEY, May 8, 2011 (AFP) – Australia on Sunday defended plans to send hundreds of asylum seekers to Malaysia, saying it was an important signal to people smugglers, but refugee advocates slammed the proposal as cruel. Australia wants to transfer 800 boat people to Malaysia for processing as part of a yet-to-be-finalised one-off deal which […]
”s biggest
LONDON, May 7, 2011 (AFP) – Indian-born steel tycoon Lakshmi Mittal has seen his fortune fall by some £5 billion ( billion, 5. 7 billion euros) in the past year but remains the wealthiest person in Britain, it was revealed Saturday. The fortune of the London-based head of ArcelorMittal, the world’s largest steel maker, fell […]
Promising Labels
SINGAPORE, May 8, 2011 (AFP) – A 0-million private equity fund backed by the world’s top luxury retailer LVMH is on the prowl for emerging Asian brands in the hope of transforming them into global names. He said LVMH contributed less than 10 percent of the 0 million raised by the fund, with the bulk […]
Sri Lanka Carson unit sees palm oil prices staying firm
May 08, 2011 (LBO) – Palm oil prices are likely to remain firm owing to growing demand from emerging markets like India and China, shareholders of Shalimar (Malay), a subsidiary of the Carson Cumbebatch group, have been told. Shalimar’s net profit for the financial year ending March 31, 2011 shot up 218 percent to 153 […]
‘s Tillakaratne seeks protection over fixing
May 6, 2011 (AFP) – Former Sri Lanka cricket captain Hashan Tillakaratne on Friday demanded police protection before he shares information on alleged match-fixing with authorities. “As an eyewitness to match-fixing, I will reveal the names of those involved if my security is guaranteed,” Tillakaratne told reporters after the Criminal Investigations Department grilled him for […]
India to supply power to Bangladesh
NEW DELHI, May 7, 2011 (AFP) – India said Saturday it would start to supply some 250 megawatts of power to neighbouring Bangladesh by 2013 as it moves to cement relations between the South Asian neighbours. The step is part of a drive by the two countries for closer ties. “Work on the transmission line […]
Renewables major part of 2050 world energy mix: UN
PARIS, May 7, 2011 (AFP) – Renewable power from the Sun, wind, water and biomass can and should generate a major portion of the planet’s energy supply by 2050, according to a draft United Nations report obtained by AFP. Renewables have the potential to bring power to the world’s poorest regions, boost energy security for […]
Sri Lanka coach calls for IPL window
May 6, 2011 (AFP) – Sri Lanka’s interim coach Stuart Law on Friday said cricket administrators should schedule a window for Indian Premier League fixtures to stop players choosing club over country. Law, who has stepped in to fill the job left by outgoing coach Trevor Bayliss, has a tough assignment ahead as Sri Lanka […]
European Union to reduce GSP beneficiary countries
BRUSSELS, May 5, 2011 (AFP) – European Union trade chiefs are planning to strip away special export advantages granted to China, India, Indonesia and scores of other fast-growing economies, an EU source said Thursday. In total, more than 80 emerging economic players also including the likes of Morocco would lose from 2014 benefits gained under […]
Sri Lanka goes solar for rural lighting
May 06, 2011 (LBO) – Sri Lanka is to provide solar power for the 10 percent of homes that cannot be reached by extending the national electricity grid in its bid to ensure 100 percent electrification by 2012. The Cabinet of ministers has approved a proposal by the power and energy ministerPatali Ranawaka to introduce […]
Sri Lanka Aviva unit March net Rs147.6mn
May 06, 2010 (LBO) – Sri Lanka’s Aviva NDB Insurance made a net profit 147.6 million rupees in the March 2011 quarter compared with a loss of 80 million rupees the year before, a stock exchange filing said. Total revenues rose 33 percent to 3.6 billion rupees. Aviva NDB Insurance group’s gross written premium income […]
” rating confirmed
May 06, 2011 (LBO) – Fitch Ratings Lanka has affirmed HNB Assurance’s (HNBA) National Long-Term rating and its National Insurer Financial Strength (IFS) rating at ‘A(lka)’ with stable outlooks. The ratings reflect HNBA’s adequate risk-based capital position, conservative investment strategy and stable profitability progression, a statement said. The ratings also factor in Fitch’s expectations of […]