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Indian rupee tumbles to new record low
MUMBAI, July 8, 2013 (AFP) – India’s rupee slid to a new record low against the dollar Monday as the greenback was boosted by stronger than expected US jobs numbers. The rupee has fallen nearly 12 percent against the dollar this year, making it the worst performing currency among major Asian economies. The Reserve Bank […]
Cricket: Two Sri Lanka umpires banned over TV sting
COLOMBO, July 9, 2013 (AFP) – Sri Lanka cricket bosses on Tuesday banned two umpires named by an Indian television programme last year that claimed they were willing to make favourable decisions during matches for cash.Sri Lanka Cricket (SLC) said it banned Sagara Gallage for 10 years from umpiring in domestic matches, and Maurice de […]
Cricket: Sri Lanka weather the storm to beat WIndies
PORT OF SPAIN, July 8, 2013 (AFP) – Sri Lanka weathered a middle-order revival by the West Indies and held on for a 39-run victory on the Duckworth/Lewis Scoring Method in a rain-affected fifth match of the Tri-Nation Series at Queen’s Park Oval on Monday.Sangakkara’s 95-ball knock, his 76th half-century in one-day international cricket, included […]
India pushes Sri Lanka to share power with Tamils
July 9, 2013 (AFP) – India urged Sri Lanka Tuesday to honour international pledges and share political power with ethnic Tamils after Colombo signalled it will dilute an Indian-brokered devolution plan.India’s National Security Adviser Shivshankar Menon ended a two-day trip to Colombo urging an “early political settlement and national reconciliation”, the Indian High Commission (embassy) […]
Sri Lanka fisheries, port industries eyed by Russia: biz association
July 09, 2013 (LBO) – Russian investors are looking at Sri Lanka’s fisheries, agriculture and port industries in Trincomalee, a country’s senior envoy had said in Colombo, a business association said.The Sri Lanka – Russia business council of the Ceylon Chamber quoted counselor of Russian Federation, Evgeni Sergienko, as saying at their annual general meeting […]
Sri Lanka rupee weak, excess liquidity high
July 08, 2013 (LBO) – Sri Lanka rupee weakened Monday and quotes in the spot market dried up following moral suasion dealers said, as high levels of liquidity remained in money markets from a reserve ratio cut. In the spot market where trades are settled two days later, which is usually the most active segment, […]
Sri Lanka stocks down 0.8-pct
July 08, 2013 (LBO) – Sri Lanka’s stocks closed 0.68 percent lower Monday, amid losses in diversified companies and banking stocks, down 8.0 percent from a May 23 peak so far, brokers said. The benchmark Colombo All Share Index closed at 5995.64, down 52.54 points lower and the and the S&P SL 20 Index closed […]
Sri Lanka Jetwing group private equity raising on track
July 08, 2013 (LBO) – A private equity raisin for four greenfield hotels is underway with local investors and a foreign investor coming on board, but the matching investor needs with a new project has been challenging, an official said.“While the equity investor is looking at us, we are also looking at them,” Jetwing chief […]
India police make arrest, study CCTV over temple bombs
PATNA, July 8, 2013 (AFP) – Indian police arrested a man on Monday over the weekend attacks at the historic Bodh Gaya Buddhist temple complex and were studying CCTV footage that appeared to show two men planting explosives at the site.The Bodh Gaya complex also houses multiple shrines marking the places where the Buddha is […]
Maldives president pledges to work with Islamists
COLOMBO, July 7, 2013 (AFP) – Maldivian President Mohamed Waheed pledged Sunday to work with the main Islamic party ahead of upcoming elections, and rejected opposition fears it would lead to increased radicalisation in the luxury tourist destination.Waheed described most Adhaalath members as moderate, while some had “extreme views”. “I don’t worry too much about […]
Top retailers, unions to inspect Bangladesh factories
DHAKA, July 7, 2013 (AFP) – Seventy top retailers have pledged to improve worker safety and allow inspection of all of their garment factories in Bangladesh within nine months under a pact signed with unions after a deadly factory collapse, a statement said Monday.But in recent weeks manufacturers have criticised the organisers, saying the BGMEA […]
Sri Lanka to start building 35MW hydro plant on July 15
July 8, 2013 (LBO) – Sri Lanka will begin building a 35 MegaWatt ‘Broadlands’ hydro power plant, on July 15 in Polpitiya, Kithulgala, the power ministry said.The plant will produce 126 GigaWatt hours of energy a year for state-run Ceylon Electricity Board. The 82 million dollar plant will be 85 percent financed by China Development […]