Category: Other
‘s new central bank chief orders surprise rate hike
MUMBAI, September 20, 2013 (AFP) – India’s new central bank governor marked his first policy meeting Friday with a bold decision to hike interest rates, wrong-footing analysts and leading to sharp falls on the stock market.Reserve Bank of India (RBI) chief Raghuram Rajan, who had warned he was prepared to be unpopular, ordered a rise […]
Beluga whales create art in Japan aquarium
TOKYO, September 18, 2013 (AFP) – Beluga whales at an aquarium near Tokyo are learning how to paint pictures as part of an autumn art programme for visitors, an official said Wednesday.The sea creatures at the Hakkeijima Sea Paradise aquarium in Yokohama will be showing off their skills with specially adapted paintbrushes that they can […]
‘s Tess Agro in Rs117mn cash call
Sept 18, 2013 (LBO) – Sri Lanka’s Tess Agro, a fish exporter has made a 117 million rupee cash call to finance a European marketing arm and a domestic project.. The Tess Agro said it wants to sell 60 million ordinary shares at 1.50 rupees to shareholders at the rate of one for every three […]
Landmark Case
COLOMBO, Sept 16, 2013 (AFP) – Sri Lanka Monday brought criminal charges of corruption against former chief justice Shirani Bandaranayake whose sacking earlier this year was internationally criticised as a blow to judicial independence.The impeachment process was launched in November after several Supreme Court decisions went against the government of Rajapakse, who has tightened his […]
Sri Lanka fish exporter starts EU marketing unit
Sept 16, 2013 (LBO) – Sri Lanka-based Tess Agro Plc, an exporter of sea fish said it had set up a marketing unit in Belgium to gain direct access to the European Union and better prices.But there was a 35.7 million rupee gain on property revaluation. The key markets of the firm are the EU, […]
US nominee for South Asia post sees strong Indian economy
WASHINGTON, September 12, 2013 (AFP) – The nominee to be the top US diplomat for South Asia said Thursday that India’s economy remained strong despite recent concerns, and that further liberalization would strengthen relations. Biswal would replace Robert Blake, a former US ambassador to Sri Lanka who frequently urged the island to provide greater accountability […]
Sri Lanka plantations facing labour shortages
Sept 14, 2013 (LBO) – Sri Lanka’s large plantations, especially those growing tea, are facing labour shortages, with young people moving out to cities in search of other jobs, a senior industry official said.During feudal and European colonial times Sri Lanka had to import labour from India for many activities ranging from tapping toddy, peeling […]
‘s Horana Plantations moves into oil palm
Sep 12, 2013 (LBO) – Sri Lanka’s Horana Plantations Plc, said it was moving into oil palm cultivation by initially planting 300 hectares of the crop, while also adding cinnamon and forestry to the mix. Some plantations have also grown trees to fire tea dryers but face restrictions. Corrected. Opening para/headline. Sri Lanka’s Horana Plantations […]
Rape Crisis
BANGKOK, September 10, 2013 (AFP) – Nearly a quarter of men surveyed in six Asia-Pacific countries admit to committing rape, often against their own partners, according to a UN report published Tuesday that exposes widespread violence against women.Based on anonymous interviews with more than 10,000 men aged between 18 and 49-years-old in Bangladesh, China, Cambodia, […]
Sri Lanka rubber exporter hit by falling prices
Sep 09, 2013 (LBO) – Sri Lanka’s Eastern Merchants, a rubber export firm said it lost 17 million rupees in the year to March 2013, from a profit of 105 million rupees a year earlier as world rubber prices dropped.Car sales in India had plunged 20 percent and listed Indian tyre companies had also performed […]
New India central bank chief may face short honeymoon
NEW DELHI, September 8, 2013 (AFP) – The euphoria which greeted new central bank governor Raghuram Rajan has been unprecedented in India’s normally sober financial world but the honeymoon may be shortlived.In fact, Rajan’s comments suggest he is likely to be “more hawkish”, said CLSA economist Rajeev Malik said. The former top finance ministry advisor […]
Nasheed faces tricky run-off in Maldives election
MALÉ, September 8, 2013 (AFP) – The ex-leader of the Maldives, Mohamed Nasheed, faced disappointment Sunday after failing to secure a majority in presidential polls he hoped would seal his return to power 18 months after he was toppled.Nasheed now faces a tricky run-off election on September 28 after he won the first round of […]