Category: Other
‘s rupee slips state proposes Mercantilist solutions
MUMBAI, August 13, 2013 (AFP) – India’s rupee fell in early trade on Tuesday despite the government announcing new measures aimed at narrowing the current account deficit and aiding the ailing local currency.Overseas funds have pulled out a combined .49 billion in equities and debt from India’s markets since June 1 on concerns about the […]
India car sales slide for ninth straight month
NEW DELHI, August 12, 2013 (AFP) – India’s car sales slid by over seven percent in July, marking a record ninth straight month of decline, industry data showed Monday, as an economic slump and high borrowing costs discouraged buyers. Carmakers sold 131,163 cars in India last month, down 7.4 percent from the same month in […]
Probe Call
WASHINGTON, August 9, 2013 (AFP) – The United States on Friday urged Sri Lanka to investigate a deadly army crackdown on a village environmental protest and to prosecute those responsible.The military on August 1 opened fire on thousands of unarmed villagers at Weliweriya near Colombo as they protested contamination of their ground water, allegedly due […]
First Indian nuclear submarine set for open sea trials
NEW DELHI, August 10, 2013 (AFP) – India announced Saturday that its first indigenously-built nuclear submarine is ready for sea trials, a step before it becomes fully operational, and called it a “giant stride” for the nation.It will ply the seas alongside the former Russian aircraft carrier “Admiral Gorshkov”, now the “INS Vikramaditya”, due to […]
Killing Probe
COLOMBO, Aug 6, 2013 (AFP) – Sri Lanka’s opposition Tuesday demanded an international investigation into a deadly army crackdown on villagers who were demonstrating against contaminated water supplies.The United National Party (UNP) criticised the army’s plans for an internal military probe into the death of three civilians and wounding of 50 others during a protest […]
‘s rupee hits record low against dollar
MUMBAI, August 6, 2013 (AFP) – India’s rupee plunged to a fresh record low against the dollar Tuesday over concerns that foreign capital could flow back to the United States as the American economy picks up.The rupee, Asia’s worst-performing major currency this year, hit 61.35 against the greenback in morning trade, below its previous low […]
‘s Talawakale Tea profits in the red
Aug 06, 2013 (LBO) – Sri Lanka’s Talawakele Tea Estates Plc said it made a loss of 3.0 million rupees in the June 2013 quarter down from a profit of 26 million rupee a year earlier. The firm reported a loss of 13 cents per share. In the six months to June the firm reported […]
Bangladesh denies plan to take over Grameen
DHAKA, August 6, 2013 (AFP) – Bangladesh denied on Tuesday that it plans to take control of pioneering microlender Grameen Bank which has lifted millions of people out of poverty. The statement by a government spokesman came ahead of the release of a report by a commission expected to recommend that the government increase its […]
Sri Lanka suspends New Zealand milk imports
Aug 06, 2013 (LBO) – Sri Lanka has suspended imports of all milk imports from New Zealand and asked Fonterra brands to withdraw any products containing whey protein, an official said.Sri Lanka’s Industrial Technology Institute has said it had found traces of DCD in several brands of milk including that of Fonterra, though the health […]
Sri Lanka Dipped Products says not causing water pollution
Aug 03, 2013 (LBO) – Sri Lanka’s Dipped Products Plc, a top glove exporter says its factory is not polluting groundwater but production has been halted until further tests are carried out by authorities.The Industrial Technology Institute, National Water Supply and Drainage Board, Geological Survey and Mines Bureau, University of Moratuwa and the University of […]
Sri Lanka glove maker hopes to resume production
Aug 02, 2013 (LBO) – Sri Lanka’s Dipped Products, a unit of Hayleys group which exports gloves said it hoped to resume production which stopped Wednesday following protests over claims that it was polluting ground water.The firm did not specify a date to resume operations but said it was working towards an “early settlement”. Dipped […]
Sri Lanka rulers provide more water to protesting villagers
Aug 02, 2013 (LBO) – Elected representatives of Sri Lanka’s Gampaha district met Friday and decided to increase the distribution of water by bowser to villagers who were protesting about tainted water, one whom was shot dead by security forces. Sri Lanka’s economic development minister Basil Rajapaksa had convened a meeting of factions of elected […]