Author: lbostgadmin
Gainful Moves
Aug 23, 2010 (LBO) – A planned expressway between Sri Lanka’s capital Colombo and Kandy in the central hills will significantly reduce transport costs and connect under-developed regions with developed ones, a new World Bank study said. “Islandwide expenditure on transport will decline from 155 million rupees a day to 127 million rupees, a reduction […]
Sri Lankan stocks becalmed
Aug 23, 2010 (LBO) – Sri Lankan stocks closed flat Monday, as investors adjusting to the 10 percent trade margin took defensive positions looking for shares that offered bargains, while punters continued to chase after ‘penny’ stocks, brokers said. The All Share Price Index closed at 5,563.99, up 0.02 percent (0.99 points) while the Milanka […]
Australia in political limbo after voters punish PM
SYDNEY, August 22, 2010 (AFP) – Australia was in political limbo Sunday after voters punished Prime Minister Julia Gillard for deposing her predecessor two months ago, leaving the nation facing its first hung parliament in 70 years. Both sides targeted marginal seats in resource-rich Queensland and western Sydney, where rapid population growth has put pressure […]
Maldivian festival of ideas brings together artists, scientists
Aug 22, 2010 (LBO) – The Maldives plans to hold a festival bringing together international and local artists and experts from the fields of literature, art, science, drama, music and poetry in October this year. The event, billed as a festival of “ideas, conversations and fun” will celebrate “one of the world’s most hopeful new […]
Indian film industry wants more awareness over film piracy
MUMBAI, August 22, 2010 (AFP) – Ashish is a senior executive in the financial sector in the home of Bollywood, Mumbai. He earns a good wage, lives in an upmarket neighbourhood and sees himself as a decent, law-abiding citizen. But like many Indians, the 49-year-old sees nothing wrong with buying the latest Hindi-language and Hollywood […]
”: officials
SYDNEY, August 21, 2010 (AFP) – Australia faced the “more and more likely” prospect of a hung parliament Saturday, with neither the government nor the opposition looking assured of an election majority, party officials said. Australia has not had a hung parliament since 1940, in the midst of World War II, but the election was […]
Sri Lanka captain not guilty of physical contact
DAMBULLA, August 21, 2010 (AFP) – Sri Lanka’s captain Kumar Sangakkara did not breach the players’ code of conduct during a tri-series match against New Zealand, the world governing body said on Saturday. Sangakkara was pulled up by match referee Alan Hurst after he collided with Black Caps’ bowler Nathan McCallum while turning for a […]
Maritime Links
Aug 21, 2010 (LBO) – India and Sri Lanka have prepared the draft of an agreement to resume ferry services across the narrow strip of water separating the two countries, the Indian envoy in Colombo said. “We’ve finalised the draft of the agreement,” Indian high commissioner Ashok Kantha said. “The two countries have in principle […]
Sri Lanka former war zone economy transformation seen
Aug 20, 2010 (LBO) – Northern Sri Lanka, where education was highly valued before war retarded its growth, has potential to be transformed into a ‘knowledge economy’ from its traditional agrarian cum fisheries base, a statement said. An open forum on ‘Pathways to Knowledge-based Development’ in northern Jaffna is being organised by the Point Pedro […]
Sri Lanka central bank cuts reverse repurchase rate
Aug 20, 2010 (LBO) – Sri Lanka’s Central Bank said it has cut its reverse repurchase rate by 50 basis points to nine percent with immediate effect, while keeping the repurchase rate steady at 7. 25 percent to support an economic recovery as inflation eased. “While inflationary pressures in the domestic economy have continued to […]
Sri Lanka gets Japan, ADB help to restore livelihoods of families affected by war
Aug 20, 2010 (LBO) – The Asian Development Bank (ADB) and Japan are providing financial aid to help Sri Lanka restore infrastructure and provide livelihood training for thousands of people displaced by war, a statement said. The Japan Fund for Poverty Reduction, administered by ADB, is extending a 2.5 million US dollar grant for a […]
Sri Lanka war hero braced for jail term
August 19, 2010 (AFP) – Sri Lanka’s former army chief Sarath Fonseka said Thursday he expects the government to put him behind bars to end his political career after a court martial convicted him. Fonseka, who led troops to victory in the island’s 37-year ethnic conflict last year, said the government was seeking revenge for […]