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Scenes of horror, devastation in Port-au-Prince
PORT-AU-PRINCE, January 13, 2010 (AFP) – In just one terrifying minute the earth convulsed Tuesday in Haiti, flattening buildings and casually tossing chunks of twisted metal and concrete into the air. Thousands fled sobbing in terror and panic onto the streets of the capital Port-au-Prince, seeking to escape the fury of the 7.0 earthquake. But […]
Sri Lanka election violence escalates after killing
January 13, 2010 (AFP) – Sri Lankan police Wednesday broke up clashes between political activists as violence linked to looming presidential polls escalated after gunmen shot dead an opposition party worker. Tear-gas was fired to disperse thousands of party workers in the eastern town of Polonnaruwa, local officials said by telephone. About 3,000 opposition supporters […]
Sri Lanka public service, rule of law undermined by constitution: rights body
Jan 13, 2010 (LBO) – Sri Lanka’s post independence constitutions of 1972 and 1978 and the scrapping of the institution of permanent secretaries has usurped the rule of law and destroyed the impartiality of the public service, a rights body has said. Above the Law Fernando says the 1978 constitution where the president was placed […]
One killed in Sri Lanka poll attack: police
January 12, 2010 (AFP) – Gunmen in Sri Lanka on Tuesday opened fire on a bus carrying supporters of the main opposition presidential candidate, killing one political activist, police said. Several other people were wounded when unidentified attackers sprayed bullets into the vehicle of campaigners backing Sarath Fonseka, who was not in the area at […]
Sri Lanka opposition says better governance will preserve trade concessions
Jan 13, 2010 (LBO) – Sri Lanka’s opposition presidential candidate promised better governance which will lead to a continuation of trade concessions from the European Union and tough new anti corruption laws. Analysts say a currency depreciation would help improve the competitiveness of exporters and also help increase nominal state revenues to help finance a […]
Sri Lanka treasuries yields edge up
Jan 12, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield was up 07 basis points to 7.84 percent, the 6-month yield was up 05 basis points to 8. 82 percent and the 12-month yield was up 03 basis points to […]
Sri Lankan finance firm sells money broking unit
Jan 12, 2010 (LBO) – Sri Lanka listed Nation Lanka Finance Limited said it had sold its money broking unit, CSF Money Brokering Company, to unlisted Navara Capital for 9.24 million rupees. Nation Lanka Finance had sold 85.71 percent of the money broker, the firm said in a stock exchange filing. The statement said Navara […]
Sri Lankan stocks close 0.7-pct lower
Jan 12, 2010 (LBO) – Sri Lanka stocks closed down Tuesday as index heavy banking sector pulled the market down, while trading in conglomerate John Keells Holdings (JKH) boosted turnover, brokers said. National Development Bank closed at 204.25 rupees, 3.00 down, and DFCC bank closed at 168. 00 rupees, down 1.75. The All Share Price […]
‘s Bharti acquires control of Bangladesh telecom firm
MUMBAI, January 12, 2010 (AFP) – India’s biggest mobile phone firm Bharti Airtel on Tuesday announced it will acquire a 70 percent stake in Bangladesh-based Warid Telecom, signalling the company’s strong global ambitions. The move into Bangladesh by Bharti comes after its plan to ally with South Africa’s MTN to create an emerging market telecom […]
Sri Lanka president offers pre-vote concessions to Tamils
January 12, 2010 (AFP) – Sri Lanka’s president on Tuesday offered concessions to ethnic Tamil demands for greater autonomy ahead of elections in which the minority community could play a decisive role. But as the architect of the military victory, Fonseka can also lay claim to credit for ending the conflict. Fonseka has offered to […]
‘s miracle
Jan 12, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa said he wanted to make Sri Lanka ‘Asia’s miracle’ if elected to a second term and also vowed to combat corruption, a key battle cry of the island’s opposition. “We want to change people leaving the country and make it an attraction for people,” Rajapaksa […]
‘s speech to the business community
Jan 12, 2010 (LBO) – Sri Lanka’s common opposition candidate for upcoming presidential polls, retired general Sarath Fonseka met the business community Tuesday. The following is the prepared text of his speech. The nation’s wealth is being squandered on self- perpetuating projects that are both wasteful and meaningless. Billions have been lost due to corruption, […]