Category: Other
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PERTH, October 28, 2011 (AFP) – Britain’s Queen Elizabeth II Friday invoked an Australian Aboriginal proverb which notes “we are just passing through”, as she called for enduring results from a Commonwealth summit. Dressed in a powder blue silk jacquard dress and coat with navy trim adorned with a brooch which previously belonged to her […]
Baited Breath
Oct 27, 2011 (LBO) – A court decision is expected shortly on a proposed law in Sri Lanka to expropriate assets of citizens which are deemed as ‘underutilized’ by the state about which little information is publicly known, reports said. Sri Lanka’s Daily Mirror newspaper has said that an “Act to provide for the vesting […]
Profile
NEW YORK, October 27, 2011 (AFP) – Rajat Gupta, who stands accused of insider trading, was a pillar of New York society, courted by charities, corporations and wealthy individuals seeking ways and means to make even more money. But just as his friends and influence grew exponentially during a dizzying climb to the top of […]
Insider Case
NEW YORK, October 27, 2011 (AFP) – Ex-Goldman Sachs director Rajat Gupta turned himself in Wednesday to the FBI, and then pleaded not guilty in court to massive securities fraud before being freed on $10 million bail pending trial. The indictment of the biggest fish yet in a growing insider trading scandal reverberated around Wall […]
Sri Lanka tea crops seen improving
Oct 27, 2011 (LBO) – Sri Lanka’s tea production is expected to revive with the return of weather conditions conducive to growing tea with demand also improving at the Colombo auctions, brokers said. Brokers Asia Siyaka Commodities said low grown teas, which make up the bulk of the crop, “met with improved widespread demand” at […]
Sri Lanka exporter targets domestic flower market
Oct 27, 2011 (LBO) – A Sri Lankan horticulture exporter said it has begun targeting a growing domestic market for cut flowers and horticulture. Hayleys Agriculture, a division of the listed Hayleys group, said it had begun appointing agents and distributors and can double production at its 18 hectare facility in the central hills of […]
India looks to factories to create 100 mln new jobs
NEW DELHI, October 25, 2011 (AFP) – India’s government approved Tuesday a policy to boost the nation’s underdeveloped manufacturing sector, aiming to slash red tape and create special zones for firms in a drive to create 100 million jobs. Manufacturing accounts for just 16 percent of India’s agriculture-dependent economy, which is “a cause of concern,” […]
Refugee Death
SYDNEY, October 26, 2011 (AFP) – A Sri Lankan man died in Australian immigration detention, officials said Tuesday, with refugee advocates claiming he killed himself with poison after being refused permission to attend a Hindu festival. An immigration spokesman said the man died shortly after midnight at Sydney Immigration Residential Housing — a family compound […]
Killer whales migrate, study finds, but why?
PARIS, October 25, 2011 (AFP) – Some killer whales, a study published Wednesday shows for the first time, wander nearly 10,000 kilometres (6,200 miles) from Antarctica’s Southern Ocean into tropical waters — but not to feed or breed. Rather, these fearsome predators at the apex of the marine food chain traverse the sea at top […]
India hikes rates again, sees slowdown
MUMBAI, October 25, 2011 (AFP) – India’s inflation-fighting central bank on Tuesday raised interest rates by a quarter-point, the 13th hike since March last year, while warning of a further economic slowdown this year. The rise in borrowing costs is likely to infuriate business leaders, who are already worried about growing signs of slackening domestic […]
Sri Lanka Watawala Plantations cuts losses on palm oil gains
Oct 24, 2011 (LBO) – Sri Lanka’s Watawala Plantations returned to profit in the September 2011 quarter, containing first half losses at 13 million rupees, as increased palm oil crops and prices helped offset losses from tea. Group sales in the six months to September 2011 sales rose eight percent to almost three billion rupees […]
Still There
Oct 23, 2011 (LBO) – The head of Sri Lanka’s Securities and Exchange Commission said she had not received instructions to sack its director general, following strong speculation that he would be dismissed for probing securities fraud. Asked by reporters whether the SEC would continue its investigations, Sugathadasa said before a formal investigation is started, […]