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Sri Lanka CIC profits up on government receipts
Feb 01, 2010 (LBO) – Sri Lanka’s Chemical Industries (Colombo) has returned to profit in the December 2009 quarter helped by a 250 million rupee past due payment from the government. In its annual report last year the firm said Chemcel (Pvt) Ltd, would make a speciality chemical with a US partner and was held […]
Sri Lanka says 12 army officers sacked after election
February 1, 2010 (AFP) – Sri Lanka’s president on Monday sacked 12 senior military officers over what one army source said were fears of a coup after last week’s presidential elections. They included three senior major generals and two brigadiers accused of interfering in politics during campaigning for January 26 election, in which President Mahinda […]
Sri Lanka fabric firm hit by lower prices, smaller orders
Feb 01, 2010 (LBO) – Sri Lankan fabric manufacturer Hayleys MGT Knitting Mills said December quarter profit fell sharply owing to lower prices and loss of orders to cheaper competitors. Net profit in the December quarter fell 73 percent to 20.7 million rupees from a year ago while sales fell 17 percent to 1.3 billion […]
ECB directors must tackle mounting eurozone tensions: analysts
FRANKFURT, (AFP) – European Central Bank policymakers will confront mounting eurozone financial tensions at a meeting Thursday in the face of a brewing crisis brought on by Greece’s spectacular public deficit and debt. That the ECB’s main interest rate will stay unchanged at a record low of one percent is considered a done deal for […]
‘s fortunes slump on bubble fears, China tightening
SAO PAULO, January 31, 2010 (AFP) – Fears of a speculative asset bubble and moves by China to rein in an overheating economy have taken their toll on Brazil, eroding equity prices and the national currency, the real. The strongest warning for Latin America’s biggest economy, still seen as one of the most attractive of […]
Maldives pledges deepest carbon emission cut by 2020
Jan 31, 2010 (LBO) – Maldives has voluntarily pledged to slash carbon emissions 100 percent by 2020, which is the deepest cut promised by any country so far under an international accord, the Indian Ocean archipelago said. “Climate change threatens us all,” Maldives president Mohamed Nasheed said in a statement. “If we don’t act now, […]
Maldives in privatization drive to up efficiency, fix finances: IMF
Jan 31, 2010 (LBO) – The Indian Ocean archipelago of Maldives will privatize its airport but could also sell down other state enterprises and bring private capital to a domestic bank, the International Monetary Fund has said. “A central plank will be the privatization of the airport, but stakes in the telecommunications company have already […]
Sri Lanka president to take oaths Feb 04: report
Jan 31, 2010 (LBO) – Sri Lanka’s re-elected president Mahinda Rajapaksa will take oaths for his second term in Kandy when the country celebrates independence from British rule on February 04, a media report said. The Sunday Times newspaper quoting foreign employment minister Keheliya Rambukwella said president Rajapaksa has spoken of his decision at a […]
Sri Lanka president revokes expulsion of Swiss reporter
January 31, 2010 (AFP) – Sri Lanka President Mahinda Rajapakse on Sunday revoked an expulsion order against a Swiss reporter who covered the island’s fiercely fought election. A government spokesman said that “wrong information” had led to the immigration authorities ordering Karin Wenger, of Swiss Public Radio, to leave the country. The department of information […]
”: IMF chief
DAVOS, January 30, 2010 (AFP) – IMF chief Dominique Strauss-Kahn said Saturday that state debt will become the world’s biggest economic problem and some countries will need seven years to fix their finances. “The fiscal sustainability problem is going to be one of the biggest, maybe the biggest problem for the coming … several years,” […]
Media Muzzle
January 30, 2010 (AFP) – Police in Sri Lanka shut down the offices of an opposition newspaper on Saturday, the weekly said, as international rights groups accused the authorities of a vendetta against critical media. Police went to the offices of the Lanka weekly and sealed the premises, a day after taking its editor into […]
EU calls on Sri Lanka to probe reports of election irregularities
BRUSSELS, January 29, 2010 (AFP) – The European Union on Friday urged the Sri Lankan authorities to investigate reports of “irregularities” during the country’s recent election and ensure the safety of his defeated opponent. Sri Lankan President Mahinda Rajapakse won a bruising re-election battle on Tuesday, but the result was rejected by his main opponent, […]