Author: lbostgadmin
” in Western aid cut
WASHINGTON, June 26, 2007 (AFP) – Sri Lanka told Western donor nations Tuesday that it would be a “tragic error” to cut aid to the island nation due to alleged human rights abuses linked to a longstanding ethnic conflict.Britain, Germany and the Netherlands have already slashed various forms of aid to Colombo due to human […]
Japan voices concern over Sri Lanka economy, human rights
TOKYO, June 27, 2007 (AFP) – Japan, the single largest donor to Sri Lanka, on Wednesday expressed concern about the human rights situation in the island nation during a visit by Colombo’s foreign minister, the government said. Japanese Foreign Minister Taro Aso raised “the Japanese public’s heightening concerns over the human rights situation in Sri […]
Iran petrol rationing spark riot
TEHRAN, June 26, 2007 (AFP) – Angry Iranian youths attacked a petrol station in the capital Tehran on Tuesday, burning a car and pumps after the government announced it was going to begin rationing fuel, witnesses said.However, problems in distributing the cards have delayed implementation of the rest of the plan. Pumping gas into the […]
‘s new economic law: buy now or pay double later
HARARE, June 27, 2007 (AFP) – Accountant Shawn Kureva was left cursing his decision to delay buying cement at a Harare hardware store until he had compared prices elsewhere in inflation-ravaged Zimbabwe. “(The) Chronicle can reveal that the British and United States goverments, after failing to incite public revolt against the government of Zimbabwe are […]
Blair era ends, Brown takes over in Britain
LONDON, June 27, 2007 (AFP) – Prime Minister Tony Blair resigned Wednesday, after a decade in power, handing over power to party rival Gordon Brown who has vowed to impose his own style on Britain. “I spoke to him about this on Friday night when he told me that he was going to take it […]
Broad Sweep
June 27, 2007 (AFP) – About 300 people were detained in Sri Lanka’s capital Wednesday in connection with a foiled bomb attack by suspected Tamil rebels on an oil storage depot, police said.Heavily armed police raided the area in the capital where a 20-kilogram (44-pound) bomb was found on Tuesday inside the fuel tank of […]
Sell Off
June 27, 2007 (LBO) – Ultrapay Limited, the Australian broadband and mobile wireless services company, has sold the stake it held in Sri Lanka’s Ruhuna Multivision pay tv business, the company said.Ultrapay held the stake in Ruhuna Multivision, which runs Comet Cable, through its subsidiary Chalmway Private Limited. The company says the sale netted 1.2 […]
Customs Blog
June 27, 2007 (LBO) – A web logging site for the Sri Lankan and international trading community as well as customs clients has been launched, giving access to new information on tariffs and regulations, officials said. The database holds all of the country’s customs regulations, related laws, taxes and other levies as well as preferential […]
Sri Lanka rejects treasuries auction; rupee falls to new low
June 27, 2007 (LBO) – Sri Lanka rejected a weekly treasury bills auction Wednesday as the rupee fell to a new life low against the dollar, dealers said.The local currency traded as low as 111.52 against the dollar before picking up to 111.45, after crossing the psychological 111 rupee barrier just two days earlier. The […]
‘s Law drives Indian coins into the melting pot
KOLKATA, India, June 27, 2007 (AFP) – Businesses and public transport in India have been hit by a shortage of small change as rupee coins are being turned into razor blades, police said Wednesday. Demand for coins in Kolkata has soared as word spread that 100 one rupee coins could fetch 125 rupees from workshops […]
Sri Lanka to set up prosperity index to track rural growth
June 26 (LBO) – Sri Lanka’s Central Bank is to introduce a prosperity index to track the progress of the island’s provinces which are lagging behind and have high levels of poverty, Central Bank governor Ajith Nivard Cabraal said. It will also set up a results-based monitoring and evaluation system to see how development in […]
Sri Lanka scraps tax on imported food
June 26, 2007 (LBO) – Sri Lanka Tuesday scrapped value added tax on ten key food items in a bid to bring down food prices driven to high levels by money printing to finance the budget deficit last year.Last year the Central Bank printed 38.5 billion rupees to finance a fiscal deficit 8.4 percent of […]