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Maldives going under water: new look at a doomsday story
Oct 19, 2009 (LBO) – A great deal of fear has been expressed by many that on one fine day in the future the Maldives will be submerged by rising sea levels without leaving even a trace of those beautiful islands that have attracted thousands of visitors to them for thousands of years. The chain […]
Sri Lanka to get GSP Plus verdict by early January: official
Oct 19, 2009 (LBO) – The European Union will decide whether or not to renew the GSP Plus trade deal with Sri Lanka giving duty free access to EU markets by early January 2010, a senior official said. Bernard Savage, EU head of delegation to Sri Lanka, said the EU investigation report was submitted to […]
Sri Lanka draws Singapore investor interest
SINGAPORE, October 19, 2009 (AFP) – Singapore is urging local businessmen to explore investment opportunities in Sri Lanka following the defeat of the Tamil separatist insurgency there, a report said here Monday.“Our business community should take an interest in what’s happening, assess the risk and be aware there is a new situation,” Foreign Minister George […]
Wealthy Donor
WASHINGTON, October 18, 2009 (AFP) – A US-based hedge-fund billionaire charged as part of an insider-trading case was investigated by US authorities for allegedly raising funds for a Sri Lankan separatist group, The Wall Street Journal reported late Saturday. Citing people familiar with the probe, the newspaper said federal agents had uncovered documents showing that […]
Repayment Hitch
Oct 18, 2009 (LBO) – A repayment plan proposed for Ceylinco Shriram Capital Management Services, a unit of Sri Lanka’s troubled Ceylinco group has been rejected by customers who put money in the company, a media report said.In Sri Lanka’s Supreme Court where the case relating to Golden Key is being heard, 259 million rupees […]
Fresh Impetus
Oct 18, 2009 (LBO) – Etisalat, an Abu Dhabi based telco that bought Sri Lanka’s Tigo from Millicom International Cellular, says it will invest more in the firm to increase the mobile operator’s market share.Tigo, South Asia’s first mobile phone operator, now has a market share of 21 percent in Sri Lanka and had 2.25 […]
Maldives leader turns stuntman to fight climate change
MALE, October 18, 2009 (AFP) – Maldivian President Mohamed Nasheed, who staged the world’s first underwater cabinet meeting at the weekend, is emerging as the global stuntman in the battle against climate change.Nasheed, 42, dived with his cabinet to the sea bottom Saturday in an effort to press December’s UN summit in Copenhagen to cap […]
Canada intercept boat with 76 migrants believed from Sri Lanka
VANCOUVER, October 18, 2009 (AFP) – A ship suspected of carrying 76 illegal migrants was intercepted in the Pacific Ocean off Canada’s west coast, police said Saturday.Authorities including military, police and border agents “identified and secured a vessel displaying the name ‘Ocean Lady’ that was approaching the coast of British Columbia” province, said a statement […]
Sri Lanka boat migrants end hunger strike
MERAK, October 17, 2009 (AFP) – A group of more than 250 Sri Lankan asylum seekers whose boat was stopped in Indonesian waters en route to Australia ended their two-day hunger strike on Saturday, officials said.The group — among which it was the 150 men who were on hunger strike — had accepted food late […]
Inside Deals
NEW YORK, October 16, 2009 (AFP) – US authorities Friday charged a billionaire hedge fund manager and five others with insider trading that netted 20 million dollars on trades in Google, Hilton Hotels Corp. and other companies. The case was helped by a cooperating witness, who indicated that Rajaratnam learned, for example in 2007 that […]
Maldives ministers set for underwater cabinet meeting
MALE, October 17, 2009 (AFP) – The government in the Maldives is set to hold its first underwater cabinet meeting Saturday to attract international attention to the dangers of global warming, a spokeswoman said. The Maldives, located southwest of Sri Lanka, has become a vocal campaigner in the battle to halt rising sea levels. In […]
‘s richest man wins govt praise for pay cut
NEW DELHI, October 17, 2009 (AFP) – India’s government has praised a decision by India’s richest businessman Mukesh Ambani to take a 66 percent pay cut after it called for firms to avoid “vulgar” executive salaries, a report said Saturday.The minister’s call to rein in executive pay came amid pressure from governments around the world […]