Category: Other
Not Twice
June 26, 2011 (LBO) – Sri Lanka’s and Bahrain has signed an agreement to stop double taxation of interest and dividends from investment made in each country, the finance ministry said. The deal was signed between Sarath Amunugama, Sri Lanka’s mister for international monetary co-operation and Bahrain’s finance minister Shaikh Ahmed bin Mohammed Al Khalifa. […]
Lawlessness
June 25, 2011 (LBO) – Use of torture by police in Sri Lanka is “endemic” and lawlessness has gradually superseded rule of law in the island partly due a flawed constitution, a rights body which has publicized hundreds of such cases for over a decade, has said. “This constitution led to the politicization of the […]
Inflation fears as India hikes fuel costs
NEW DELHI, June 25, 2011 (AFP) – Indians will have to pay more for fuel from Saturday after the government announced a hike in the price of some petroleum products, increasing inflationary pressures in the fast-growing economy. Petroleum minister Jaipal Reddy late Friday raised the price of diesel by 3 rupees (7 cents) per litre, […]
India to press ahead on nuclear power
WASHINGTON, June 24, 2011 (AFP) – India’s commerce minister called Thursday for more cooperation with the United States on nuclear energy and brushed aside talk of scrapping ambitious plans in the wake of Japan’s Fukushima crisis. On a visit to Washington, Commerce Minister Anand Sharma said he has faced questions on whether India should rethink […]
Sri Lanka to restrict coconut land sales
June 22, 2011 (LBO) – Sri Lanka aims to bring in new laws restricting sale of coconut land to extents below five acres under efforts to prevent further reduction of acreage and to increase crops, an official said. Minister of coconut development Jagath Pushpakumara said the new laws would be introduced in parliament in about […]
Sri Lanka tea production falls in May
June 22, 2011 (LBO) – Tea production in Sri Lanka in May 2011 fell 5. 3 percent to 32 million kilos from a year ago, according to statistics released by the Tea Board. The shortfall in production came from the high and medium elevations while low grown teas, which make up the bulk of the […]
Renault to launch low-cost 4×4 in India
PARIS, June 21, 2011 (AFP) – French auto group Renault announced on Tuesday the launch in India of its low-cost four-wheel drive “Duster” vehicle built by its Dacia subsidiary. Duster, a model first introduced in 2010, will be especially adapted for the Indian market, the statement said. Before the end of the year, Renault hopes […]
Pakistan detains officer over links with militants: army
SLAMABAD, June 21, 2011 (AFP) – Pakistan on Tuesday announced the arrest of an army brigadier accused of having contacts with a banned militant group. The information was released seven weeks after US Navy SEALs found and killed Osama bin Laden in the military town of Abbottabad, reviving disturbing questions about ignorance or complicity within […]
Pilatus to sign record aircraft deal with India: report
GENEVA, June 18, 2011 (AFP) – Switzerland’s Pilatus Aircraft is about to sign a record deal to supply 75 of its successful PC-7 trainers to the Indian Air Force for 850 million francs ( billion), a press report said Saturday. The daily Le Temps, which described the contract as the biggest in the company’s history, […]
Three baby elephants killed by Sri Lankan train
June 18, 2011 (AFP) – Three baby elephants were killed when they were hit by a passenger train in Sri Lanka on Saturday, an official said. The trio were crossing the tracks in a forested area near Ambanpola, 93 miles (150 kilometres) north of Colombo, when they were struck by a passenger train bound for […]
Rule Making
June 18, 2011 (LBO) – Sri Lanka’s securities regulator has finalized rules to allow exchange traded funds (ETFs) with Indian help, and the final document is expected to be given legal effect within two months, an official said. “Within the next two months, regulations to enable ETFs to be traded in the Colombo Stock Exchange […]
Sri Lanka poultry firm to build Rs360mn broiler farm
June 16, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry firm said it is building a 360 million rupee modern broiler farm in the northwestern Puttalam district to increase its production by 15 percent over the next three years. In 2010 prices surged. “Being of a cyclical nature, the poultry business is characterised by […]