Category:
India deregulates petrol prices
NEW DELHI, June 25, 2010 (AFP) – India’s government decided to deregulate petrol prices Friday in a bold economic reform that risks a popular backlash as the country struggles with double-digit inflation. The step, which will mean an increase in fuel prices, is part of efforts by the left-leaning Congress-led government to reduce a gaping […]
Bharti to invest 150 million dollars in Zain Zambia
LUSAKA, June 24, 2010 (AFP) – India’s mobile phone company Bharti Airtel plans to invest 150 million dollars in Zain Zambia, chief executive officer Manoj Kohli said on Thursday. It has also acquired the operations of Zain Zambia’s parent company, Zain Africa in 15 African countries, including Burkina Faso, Chad, Congo Brazzaville and Democratic Republic […]
SriLankan Airlines looks for two narrow body aircraft
June 25 – Sri Lankan Airlines is looking for two Airbus A320 aircraft to join is fleet by late 2010 as it plans to expand the winter schedule amid a pick up in tourism traffic, chief executive Manoj Gunawardena said. Sri Lankan said it will also increase flights to India by one to 50 frequencies […]
Nehra inspires India to Asia Cup title
DAMBULLA, June 24, 2010 (AFP) – India’s pace battery led by Ashish Nehra demolished Sri Lanka to help their team win the Asia Cup with a comfortable 81-run win on Thursday. Dinesh Karthik top-scored with 66 as India made 268-6 after electing to bat in the day-night final, before the defending champions and hosts were […]
Sri Lankan stocks close up 0.23-pct
June 24, 2010 (LBO) – Sri Lankan stocks closed up Thursday as gains in selected high value shares like Distilleries, Central Finance, Ceylon Tobacco and Sampath Bank pulled the market up, brokers said. The All Share Price Index closed at 4,601.55, up 10.38 points, while the Milanka index of more liquid stocks rose 0.54 percent […]
Sri Lanka Ceylon Hotels Corp to upgrade hotels
June 24, 2010 (LBO) – Ceylon Hotels Corporation, which has properties on prime locations throughout Sri Lanka, has lured a top executive from a big hotel group and plans to upgrade several hotels, a stock exchange filing said. The CHC, part of the Gale Face Hotel group, plans to spend 350-500 million rupees on the […]
Sri Lanka blast wounds nine in capital: police
June 24, 2010 (AFP) – An explosion ripped through a commercial area of Sri Lanka’s capital Colombo on Thursday, wounding at least nine people, police said. The blast in the Pettah area was believed to have been caused by a hand grenade or an improvised explosive device, a police official said, adding that an investigation […]
Sri Lanka increases taxes on sugar, alcohol, cigarettes
June 24, 2010 (LBO) – Sri Lanka has increased levies on sugar imports by five rupees, while a cigarette tax would go up by one rupee and taxes on a proof litre of spirits would rise by another 50 rupees, a senior treasury official said. Taxes on sugar imports have been increased as world prices […]
Sri Lanka rejects EU conditions to extend GSP Plus trade deal
June 24, 2010 (LBO) – The Sri Lankan government has rejected conditions imposed by the European Union to extend the GSP Plus trade deal giving exporters duty free access to EU markets, a spokesman said. He said the government wants the GSP Plus to be extended unconditionally. If not the government is ready to look […]
Sri Lanka to block visits by UN panel probing war allegations
June 24, 2010 (AFP) – Sri Lanka will ban visits by the three-member United Nations panel investigating alleged human rights abuses in the final months of the island’s civil war, a senior minister said Thursday. Troops finally wiped out the separatist Tamil Tiger guerrillas in May last year after decades of ethnic bloodshed, and the […]
Sri Lanka GDP grew 7.1-pct in Q1, 2011
June 24, 2010 (LBO) – Sri Lanka’s economy expanded 7.1 percent in the first quarter of the year compared with the same period a year ago helped by strong growth in tea, rubber, export crops and services, the Department of Census and Statistics said. The major reason for this growth was the increase in average […]
Sri Lanka to fast-track investment approvals
June 24, 2010 (LBO) – The Sri Lankan government has decided to set up a committee of senior bureaucrats from key ministries to fast-track decisions on private sector investment proposals, a spokesman said. Media minister Keheliya Rambukwella said the committee of officials is being created to help eliminate bottlenecks in the normal investment approvals process. […]