Author: lbostgadmin
Growing pains for Maldives as radicals raise tensions
MALE, Oct 31, 2007 (AFP) – The Maldives has built South Asia’s most successful economy based on luxury tourism, but the atoll nation is now facing religious tensions as it undergoes a difficult transition to democracy.The tranquillity of the paradise holiday destination was shattered in September when Islamic radicals set off a home-made bomb, wounding […]
Paradise Isle
GENEVA, Oct 30, 2007 (AFP) – The UN’s top torture expert, Manfred Nowak, said on Tuesday that torture — including beatings, asphyxiation and burning — was becoming “routine” during counter-terrorism operations in Sri Lanka.Nowak said in statement on his mission to the conflict-torn Indian Ocean island earlier this month that there was evidence that “torture […]
Curbing Corruption
Oct 31, 2007 (LBO) – Sri Lanka’s bribery and corruption commission has vast powers to probe official misdeeds but cannot act except on a complaint and has its impartiality questioned by the presence of police investigators. Although commission officials say it is one of the most flexible and authoritative bodies compared to similar departments around […]
Sri Lanka leisure group buys Maldives resort
Oct 31, 2006 (LBO) – Sri Lankan conglomerate Aitken Spence has announced that it has bought another island resort in the Maldivian archipelago where it is already one of the top leisure operators. Aitken Spence Hotels (International), a subsidiary of Aitken Spence Hotel Holdings, said it had acquired the Vadhoo Island Resort for 13 million […]
Sri Lanka treasury yields plummet, rupee gains
Oct 31, 2007 (LBO) – Sri Lanka treasury yields plummeted at Wednesday’s auction with the benchmark 3-month bill falling 143 basis points to 15.80 percent as domestic borrowings reduced in the wake of a foreign bond issue.The government’s debt office said it retired 3.1 billion worth maturing debt and accepted 8.5 billion worth of bids. […]
Mini Hydro
Oct 30, 2007 (LBO) – Sri Lankan mini hydro power company Vidullanka Tuesday said net profit for the first half ending September 30, 2007 was up nine percent year-on-year to 24.6 million rupees. Group revenue rose 13.5 percent to 83.5 million rupees over the same period, according to interim results sent to the Colombo bourse. […]
Sri Lanka military says 13 rebels killed
Oct 30, 2007 (AFP) – Sri Lankan security forces killed 13 more Tamil Tiger rebels in fresh clashes across the north of the island, the defence ministry said Tuesday. Troops killed 10 rebels during an overnight attack along the military defence lines in the Jaffna peninsula, the ministry said in a statement. It said one […]
Murali likely to miss Test warm-up
BRISBANE, Australia, Oct 30, 2007 (AFP) – Star bowler Muttiah Muralitharan is expected to be rested for Sri Lanka’s final warm-up match ahead of next week’s first cricket Test against Australia at the Gabba here.Captain Mahela Jayawardene indicated the spin wizard would sit out the three-day game with Queensland starting on Friday after his marathon […]
Moonlighting army moves garbage in tourist paradise
MALE, Oct 29, 2007 (AFP) – The Maldives is known as an upmarket holiday destination with squeaky clean beaches, but it’s an army of moonlighting Bangladeshis who keep the capital from sinking under a mountain of rubbish. The less than one square mile (two square kilometre) Male is one of the world’s most densely populated […]
Indian shares gain 3.82 percent to new record close
MUMBAI, Oct 29, 2007 (AFP) – India’s benchmark share index surged 3.82 percent to a new record close on Monday and crossed 20,000 points for the first time, a gain of nearly 4,000 points in the past six weeks, dealers said. They said hopes that the Reserve Bank of India (RBI) may cut key interest […]
Oil prices fall from historic highs
SINGAPORE, Oct 30, 2007 (AFP) – Oil retreated in Asian trade Tuesday after spiking to a historic high of over 93 dollars on geopolitical concerns in the Middle East, dealers said.At 10:30 am (0230 GMT) New York’s main contract, light sweet crude for December delivery, was 84 cents lower at 92.69 dollars a barrel from […]
Birth defects soar in polluted China
BEIJING, Oct 30, 2007 (AFP) – Birth defects in heavily polluted China have increased by nearly 40 percent since 2001, with a deformed baby born every 30 seconds, state media reported on Tuesday.The rate of defects appeared to increase near the country’s countless coal mines, which produce the bulk of China’s energy but are also […]