Category: Other
Corporate Code
Sept 26, 2013 (LBO) – Sri Lanka’s chartered accountants and the Securities and Exchange Commission has launched a revised ‘Code of Best Practice on Corporate Governance.’ “Good corporate governance is fundamental to an organization’s competitiveness, growth and most importantly its sustainability,” The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) said in a […]
Protests as Maldives Supreme Court suspends elections
MALÉ, September 23, 2013 (AFP) – The Supreme Court of the Maldives on Monday suspended presidential elections due this weekend following a legal challenge, sparking protests and fears of fresh instability in the troubled Indian Ocean archipelago.“The Elections Commission got the opportunity to argue out their case and establish the credibility of the process,” he […]
Global panel to make economic case on climate change
NEW YORK CITY, September 24, 2013 (AFP) – Mexico’s former president Felipe Calderon said that climate action can boost both developed and emerging countries as he led a new commission bringing together government and business leaders.In an initiative being launched Tuesday on the sidelines of the annual UN General Assembly, Calderon will chair a report […]
Chinese tourists, diplomats make a splash in the Maldives
MALÉ, September 23, 2013 (AFP) – The travellers pouring off flight LV199 from Shanghai into the international airport of the Maldives, many dressed in designer labels, are an unmissable sign of China’s interest in the far-flung archipelago.His half-brother, long-time autocrat Maumoon Abdul Gayoom, who ruled until 2008, was saved from a coup by late Indian […]
Factories ablaze as Bangladesh garment workers protest
DHAKA, September 23, 2013 (AFP) – Angry Bangladeshi garment workers blocked roads, set factories alight and clashed with police for a third day on Monday as protests demanding a minimum monthly wage of $100 spread outside the capital. Thousands of workers also attacked a camp of a reserve police force 40 kilometres (25 miles) north […]
Tata-Singapore tie-up seen reaffirming India aviation potential
NEW DELHI, September 21, 2013 (AFP) – A new Indian airline planned by the giant Tata Group and Singapore Airlines reaffirms the nation’s longterm potential as an aviation market, despite the sector’s current financial turbulence, analysts say. Tata Sons, the holding company of tea-to-software conglomerate Tata Group, and SIA said this week they were setting […]
‘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 […]
‘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 […]
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 […]
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, […]
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 […]
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 […]