Category:
India captures 61 Somali pirates after clash: navy
NEW DELHI, March 14, 2011 (AFP) – The Indian navy has captured 61 suspected Somali pirates and rescued 13 fishermen after a firefight with a pirate mothership in the Arabian Sea, a navy spokesman said Monday. “A total of 74 men have been apprehended of which 61 are suspected to be Somali pirates,” Indian navy […]
Sri Lanka land prices seen rising
Mar 14, 2011 (LBO) – Land prices in Sri Lanka are set to rise with interest rates seen “benign” this year and remittances from migrant workers who send money back to build homes staying strong, the central bank said. “When the asset prices fall, financial markets, investors and financial institutions are adversely affected and such […]
Fair Share
Mar 13, 2011 (LBO) – Sri Lanka’s Central Bank is expected to order commercial banks to limit use of bank guarantees to apply for shares in initial public offers to ensure small investors a fairer share, a report said. A minimum of 10 percent of an issue will be made available for allotment to Unit […]
Hazard Warning
Mar 13, 2011 (LBO) – A Great Earthquake, one of the most powerful in recorded history, occurred off the coast of Honshu, North East Japan, on the 11th of March 2011. The previous Great Earthquake in Asia occurred off the coast of Sumatra, North West Indonesia, on the 26th of December 2004. Both were followed […]
Quick Trigger
March 13, 2011 (AFP) – Sri Lankan immigration authorities detained a Pakistani journalist with the same name as the man who staged an abortive car bomb attack in New York’s Times Square last year, officials said Sunday. Faisal Shahzad, an Islamabad-based reporter, was allowed to enter the country to cover the World Cup after spending […]
Fear as Japan struggles with stricken nuke reactors
FUKUSHIMA, March 13, 2011 (AFP) – Japan battled a nuclear emergency Sunday in which the government said twin meltdowns may have taken place and that radiation had escaped from reactors at a quake-damaged atomic power plant. About 200,000 people have been evacuated from residential areas around the Fukushima No. 1 plant, 250 kilometres (120 miles) […]
Sri Lanka private worker pension funds pays 12.5-pct
Mar 12, 2011 (LBO) – A pension fund of private citizens of Sri Lanka worth 900 billion rupees, the island’s biggest investment fund, has paid 12. 5 percent to its beneficiaries in 2010 its state managers said. The central bank said annual contributions rose 12. 5 percent and active members increased 9.5 percent “reflecting the […]
Sri Lanka private pension fund makes equity gains
Mar 12, 2011 (LBO) – A pension fund of private Sri Lankan citizens managed by the state has made large capital gains by investing in stocks with the share of equity in the 900 billion rupees fund rising to 5.0 percent from 1.3 percent, its managers said. Sri Lanka’s Employees Provident Fund, which is made […]
Sri Lanka forced selling drives down stocks
Mar 11, 2011(LBO) – Sri Lankan stocks closed 0. 96 percent lower with active retail trading and forced selling due to credit issues, brokers said. “Forced selling was seen in trading with margin calls coming on several stocks. The credit issue was one of the main reasons,” an analyst said. In November 2010, the Securities […]
Sri Lanka may temporarily allow maize imports
Mar 11, 2010 (LBO) – Sri Lanka may temporarily lift a 35 percent import tax on maize to prevent prices going higher and hurting the island’s poultry industry after floods destroyed a part of the domestic crop, an official said. Sri Lanka’s agriculture ministry has requested approval from the cabinet of ministers to cut taxes […]
Sri Lanka tea crops recover
Mar 11, 2011 (LBO) – Tea harvests from Sri Lanka’s main plantations areas have improved following a slump caused by bad weather which affected the first quarter ‘Western quality season’, brokers said. Unseasonal heavy rains had affected tea harvests especially on the western slopes of the island’s central hills which usually produce quality teas in […]
Affordable Access
Mar 11, 2011 (LBO) – Sri Lanka will seek to negotiate with international software vendors to try to bring down prices by up to half in its drive to promote information and communication technology business, a report said. Sri Lanka has recently been cracking down on software piracy after being ranked the second worst offender […]