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Sri Lanka captain not guilty of physical contact
DAMBULLA, August 21, 2010 (AFP) – Sri Lanka’s captain Kumar Sangakkara did not breach the players’ code of conduct during a tri-series match against New Zealand, the world governing body said on Saturday. Sangakkara was pulled up by match referee Alan Hurst after he collided with Black Caps’ bowler Nathan McCallum while turning for a […]
”: officials
SYDNEY, August 21, 2010 (AFP) – Australia faced the “more and more likely” prospect of a hung parliament Saturday, with neither the government nor the opposition looking assured of an election majority, party officials said. Australia has not had a hung parliament since 1940, in the midst of World War II, but the election was […]
Sri Lankan stocks close down 0.10-pct
Aug 20, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from the weeks bull-run, while a large deal on Asian Alliance Insurance and high investor interest on John Keells Holdings (JKH) boosted turnover, brokers said. Commercial Bank closed at 191.00 rupees, down 60 cents (0.31 percent), Hatton National Bank closed […]
Sri Lanka gives more money to promote rice over wheat flour
Aug 19, 2010 (LBO) – Sri Lanka’s government is to spend 2. 5 billion rupees over the next three years to extend a programme to encourage rice cultivation and consumption and reduce wheat flour consumption, a spokesman said. Rambukkwelle said the government wants to support the agriculture sector which it sees as a key factor […]
‘s booming middle classes unmasked in new study
NEW DELHI, August 19, 2010 (AFP) – They are every marketeer’s dream and the future of the world economy — now Asia’s aspirational middle classes have been laid bare in a major new study focusing on their astonishing growth. The Asian Development Bank forecast in the research released Thursday that over the next two decades […]
Sri Lanka shell company bought by Malaysian firm
Aug 20, 2010 (LBO) – Malaysia’s Fly Asia has bought a 70 percent stake in Sri Lanka’s Infrastructure Developers (IDL), essentially a loss-making shell company listed on the Colombo bourse, a stock exchange filing said. Fly Asia, an air transport company which operates air services and builds aerodromes, has made a mandatory offer for the […]
Sri Lanka fabric maker hit by high cotton prices, lower sales
Aug 20, 2010 (LBO) – Sri Lanka’s Kuruwita Textile Mills said it made a net loss of 125 million rupees in the June 2010 quarter as it was hit by record high cotton prices and less demand. Sales fell almost five percent to 1.3 billion rupees over the period, the company, a unit of clothing […]
Sri Lanka govt says preventing rupee appreciation to help exporters
Aug 20, 2010 (LBO) – The Sri Lankan government is preventing the further appreciation of the rupee against the dollar to support exporters after the loss of a trade deal giving duty free access to the European market, a spokesman said. “We held a number of discussions with manufacturers. After 10 years of tariff preferences […]
Sri Lanka war hero braced for jail term
August 19, 2010 (AFP) – Sri Lanka’s former army chief Sarath Fonseka said Thursday he expects the government to put him behind bars to end his political career after a court martial convicted him. Fonseka, who led troops to victory in the island’s 37-year ethnic conflict last year, said the government was seeking revenge for […]
Sri Lanka gets Japan, ADB help to restore livelihoods of families affected by war
Aug 20, 2010 (LBO) – The Asian Development Bank (ADB) and Japan are providing financial aid to help Sri Lanka restore infrastructure and provide livelihood training for thousands of people displaced by war, a statement said. The Japan Fund for Poverty Reduction, administered by ADB, is extending a 2.5 million US dollar grant for a […]
Sri Lanka central bank cuts reverse repurchase rate
Aug 20, 2010 (LBO) – Sri Lanka’s Central Bank said it has cut its reverse repurchase rate by 50 basis points to nine percent with immediate effect, while keeping the repurchase rate steady at 7. 25 percent to support an economic recovery as inflation eased. “While inflationary pressures in the domestic economy have continued to […]
Sri Lanka former war zone economy transformation seen
Aug 20, 2010 (LBO) – Northern Sri Lanka, where education was highly valued before war retarded its growth, has potential to be transformed into a ‘knowledge economy’ from its traditional agrarian cum fisheries base, a statement said. An open forum on ‘Pathways to Knowledge-based Development’ in northern Jaffna is being organised by the Point Pedro […]