Category: Other
Securities Fraud
Sep 14, 2011 (LBO) – Sri Lanka should increase fines for securities fraud because trading volumes and potential for profit is much higher than when the fines were originally set, a lawmaker has said. Harsha de Silva, a member of Sri Lanka’s opposition United National Party, said a 10 million rupee fine charged on Environmental […]
Watchdog Action
Sept 14, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said it will take a stock advisor to court and had warned seven others including two investors over suspected price manipulation. An investment would be charged over s suspected trades in shares of MTD Walkers during January 2010 following decision taken on August 19. […]
UN Report
UNITED NATIONS, September 13, 2011 (AFP) – UN leader Ban Ki-moon on Monday sent a report accusing Sri Lankan troops of killing tens of thousands of civilians to the UN Human Rights Council, bringing a potential international inquiry one step closer. Ban has said that he alone cannot order an inquiry into the killings during […]
Animal Sacrifice
September 13, 2011 (AFP) – A Sri Lankan minister led a protest march on Tuesday that forced organisers to abandon an annual Hindu sacrifice ritual in which hundreds of goats were due to slaughtered. Public Relations Minister Mervyn Silva, a member of the Buddhist majority, arrived at the Munneswaram Hindu temple, 80 kilometres (50 miles) […]
Australian cows to prop up Sri Lanka rupee, increase incomes
Sept 13, 2011 (LBO) – Sri Lanka’s state-run cattle farms are getting cows from Australia to become ‘self sufficient’ in milk and reduce “the drain on the country™s foreign exchange resources”, the finance ministry said. A 12.9 million US dollar project co-financed by Australia’s Export Finance Insurance Corporation (EFIC) Cooperative and Centrale Raiffeisen-Boerenleenbank (Rabobank) of […]
Boat People
Sept 11, 2011 (LBO) – Sri Lanka has arrested a fishing vessel with 40 people suspected to be illegal migrants headed for Australia, an official said. Sri Lanka navy has stepped up naval patrols and strengthened its presence along the island’s coast to combat piracy and illegal immigration. “The boat was arrested off the island’s […]
Sri Lanka sugar firm raises capital
Sept 11, 2011 (LBO) – Sri Lanka’s Pelwatte Sugar Industries, which produces sugar and alcohol has made a 306 million cash call to fix its finances by selling one share for every four held by current shareholders. The firm said in a stock exchange filing that it had a stated capital of 679 million rupees […]
NASA launches twin satellites to map inner Moon
WASHINGTON, September 10, 2011 (AFP) – NASA on Saturday launched a 0 million pair of washing-machine-sized satellites on a mission to map the Moon’s inner core for the first time. The twin spacecraft took off from Cape Canaveral Air Force Station in Florida on a three-month journey to the Moon at 9:08 am (1308 GMT) […]
Sri Lanka tea seen threatened by climate change
Sept 09, 2011 (LBO) – Climate change brought about by global warming could threaten the famed quality of Sri Lanka’s tea, the island’s main agriculture export and its best known brand, a new report said. “Could this be the beginning of a shift in the global tea cultivation map? ” the brokers asked. “The impact […]
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ISLAMABAD, September 8, 2011 (AFP) – Pakistan and Iran on Thursday said a multi-billion-dollar gas pipeline between the two countries was pressing ahead on schedule despite US objections to the project. The two signed an export deal last year for Iran to supply natural gas to its eastern neighbour from 2014, with sales to reach […]
Sri Lanka tea prices recover
Sep 08, 2011 (LBO) – Prices of teas made by Sri Lankan plantation company estates rose this week although still below production cost as supply fell and demand improved with brokers saying the market seems to have bottomed out. There was good demand at the Colombo auctions with improved buying mainly from shippers to the […]
And the heavens showered Earth with gold
PARIS, September 7, 2011 (AFP) – Were it not for meteorites striking Earth some four billion years ago, humans would never have laid eyes on the gold that has raised and ruined civilisations, according to a study published Thursday. Two hundred million years earlier, during the violent throes of planetary formation, Earth was a mass […]