Author: lbostgadmin
Sri Lanka mulls support for desiccated coconut exporters
Dec 04, 2009 (LBO) – Sri Lanka’s Plantations Industries Ministry is considering giving an export rebate to desiccated coconut product exporters, a senior official said.Duty on edible oil imports was raised to protect coconut oil millers, who were otherwise unable to compete with cheap edible oil imports. Higher demand from coconut oil mills pushes up […]
Sri Lanka stocks close down 0.14-pct on profit taking
Dec 04, 2009 (LBO) – Sri Lankan shares closed down Friday as retail investors were seen taking profits from this week’s rally, while big trades in John Keells Holdings (JKH) and Distilleries Company pushed turnover levels up, brokers said. The All Share Price Index closed at 3,000.33 down 0.14 percent (4.28 points) while the Milanka […]
Bernanke to face stormy confirmation hearing
WASHINGTON, December 3, 2009 (AFP) – Lawmakers are likely to vent frustration over the economy and bailout of the financial system Thursday at a Senate confirmation hearing for Federal Reserve chairman Ben Bernanke. The powerful central bank chief is nonetheless expected to win approval for a second four-year term from the Banking Committee and the […]
Sri Lanka central bank lashes out at exporters engaging in policy debate
Dec 03, 2009 (LBO) – Sri Lanka’s central bank has lashed out at exporters who engaged in a policy debate on the island’s exchange rate saying they were “partisan” and were “driven by personal interests”, unlike its own stance which was “professional”. The Central Bank has been under fire for creating high inflation from 2004, […]
‘s 284 not out floors Sri Lanka
MUMBAI, December 3, 2009 (AFP) – Virender Sehwag smashed a scintillating unbeaten double century as India turned the tables on Sri Lanka in the third and final cricket Test on Thursday.Sehwag made 284 not out to lift the hosts to 443-1 by stumps on the second day at the Brabourne stadium in reply to Sri […]
Sri Lanka to build small solar plant with Japanese aid
Dec 03, 2009 (LBO) – The Japanese government will give Sri Lanka a grant of 860 million yen or just over a billion rupees to build a 400 kiloWatt demonstration solar power plant which will be connected to the national grid.The solar project will be implemented by the Sri Lanka Sustainable Energy Authority under the […]
‘s debate over inflation 2: The folly of price cuts
Dec 03, 2009 (LBO) – In a bid to relieve the public of rising cost of living, the Government has reduced the import duties of ten leading food items and expected the market too to slash the prices. Artificial price reductions too lure central banks to an unwarranted complacency because the price indices on which […]
India food inflation soars 17 percent
December 3, 2009 (AFP) – Food inflation in India soared by over 17 percent in the 12 months ending November 21, official figures showed Thursday, raising pressure on the central bank to tighten monetary policy.Earlier most economists were betting that the first rate rise would come in April. The food price index climbed 17.47 percent […]
In Taiwan, bird catchers turn bird watchers
TAIPEI, December 3, 2009 (AFP) – When Yeh You-chin was a boy half a century ago, he ate migratory birds with relish, but now he is at the forefront of efforts to preserve the feathered visitors to his south Taiwan home. Yeh, the 59-year-old chief of Fangshan township, recently opened an exhibition hall devoted to […]
Sri Lanka sewers to be rebuilt with ADB aid
Dec 03, 2009 (LBO) – Sri Lanka is to get a loan of 100 million dollars from the Asian Development Bank (ADB) to modernise the sewerage system in the capital Colombo and its suburbs.A government statement said the project will improve the urban environment and public health for about 1.5 million urban and suburb residents […]
Ideal Spectrum
Dec 03, 2009 (LBO) – Sri Lankan telecommunications firms will begin unrolling WiMAX networks offering high-speed internet connections at lower cost in January, the island’s telecom regulator, Priyantha Kariyapperuma, said. The networks using the Worldwide Interoperability for Microwave Access (WiMAX) technology will especially benefit rural areas enabling services like telemedicine and e-learning, officials said. Sri […]
Speak Out
Dec 03, 2009 (LBO) – UN officials and human rights groups have praised the decision by the Maldives to decriminalise defamation. Freedom of expression is the cornerstone of democracy and good governance. For democracy to be effective, citizens must be able to hold those in power to account without fear of retribution. I commend all […]