Author: lbostgadmin
Sri Lanka boat migrants end hunger strike
MERAK, October 17, 2009 (AFP) – A group of more than 250 Sri Lankan asylum seekers whose boat was stopped in Indonesian waters en route to Australia ended their two-day hunger strike on Saturday, officials said.The group — among which it was the 150 men who were on hunger strike — had accepted food late […]
Canada intercept boat with 76 migrants believed from Sri Lanka
VANCOUVER, October 18, 2009 (AFP) – A ship suspected of carrying 76 illegal migrants was intercepted in the Pacific Ocean off Canada’s west coast, police said Saturday.Authorities including military, police and border agents “identified and secured a vessel displaying the name ‘Ocean Lady’ that was approaching the coast of British Columbia” province, said a statement […]
Maldives leader turns stuntman to fight climate change
MALE, October 18, 2009 (AFP) – Maldivian President Mohamed Nasheed, who staged the world’s first underwater cabinet meeting at the weekend, is emerging as the global stuntman in the battle against climate change.Nasheed, 42, dived with his cabinet to the sea bottom Saturday in an effort to press December’s UN summit in Copenhagen to cap […]
Fresh Impetus
Oct 18, 2009 (LBO) – Etisalat, an Abu Dhabi based telco that bought Sri Lanka’s Tigo from Millicom International Cellular, says it will invest more in the firm to increase the mobile operator’s market share.Tigo, South Asia’s first mobile phone operator, now has a market share of 21 percent in Sri Lanka and had 2.25 […]
Repayment Hitch
Oct 18, 2009 (LBO) – A repayment plan proposed for Ceylinco Shriram Capital Management Services, a unit of Sri Lanka’s troubled Ceylinco group has been rejected by customers who put money in the company, a media report said.In Sri Lanka’s Supreme Court where the case relating to Golden Key is being heard, 259 million rupees […]
Wealthy Donor
WASHINGTON, October 18, 2009 (AFP) – A US-based hedge-fund billionaire charged as part of an insider-trading case was investigated by US authorities for allegedly raising funds for a Sri Lankan separatist group, The Wall Street Journal reported late Saturday. Citing people familiar with the probe, the newspaper said federal agents had uncovered documents showing that […]
Sri Lanka pressed by US on IP protection, GM food
Oct 17, 2009 (LBO) – The United States has asked Sri Lanka, ranked high for software piracy in Asia, to better enforce intellectual property rights and also lift restrictions on American imports like genetically modified food.Sri Lanka’s Director-General of Commerce Gomi Senadheera acknowledged the US concerns on IP rights and said the government was trying […]
‘s richest man wins govt praise for pay cut
NEW DELHI, October 17, 2009 (AFP) – India’s government has praised a decision by India’s richest businessman Mukesh Ambani to take a 66 percent pay cut after it called for firms to avoid “vulgar” executive salaries, a report said Saturday.The minister’s call to rein in executive pay came amid pressure from governments around the world […]
Maldives ministers set for underwater cabinet meeting
MALE, October 17, 2009 (AFP) – The government in the Maldives is set to hold its first underwater cabinet meeting Saturday to attract international attention to the dangers of global warming, a spokeswoman said. The Maldives, located southwest of Sri Lanka, has become a vocal campaigner in the battle to halt rising sea levels. In […]
Inside Deals
NEW YORK, October 16, 2009 (AFP) – US authorities Friday charged a billionaire hedge fund manager and five others with insider trading that netted 20 million dollars on trades in Google, Hilton Hotels Corp. and other companies. The case was helped by a cooperating witness, who indicated that Rajaratnam learned, for example in 2007 that […]
Sri Lanka to present 4-month budget in November
Oct 16, 2009 (LBO) – A four-month mini budget is expected to be presented to parliament in November seeking approval for Sri Lanka’s government to spend 362 billion rupees collected from the people through taxes or borrowed. Sri Lanka has a bloated public sector that does not pay income tax on their salaries and more […]
Sri Lanka post-war re-construction draws US firms
Oct 16, 2009 (LBO) – American companies are keen to invest in Sri Lanka with the end of the ethnic war to help rebuild the economy and contribute to national reconciliation, government officials from both countries said.Export Development and International Trade Minister Gamini Lakshman Peiris said some of America’s biggest companies had sent representatives to […]