Category: Other
Sri Lanka plantations industry in deal with unions on wages
June 06, 2011 (LBO) – Sri Lanka’s regional plantations companies and estate labour unions have agreed to renew a two-year wage deal with a worker’s basic wage being raised to 380 rupees from 285 previously. Muthu Sivalingam, president of the Ceylon Workers Congress, the biggest union, told Vimasuma.com, our sister news website, that under the […]
Bangladesh paralysed by opposition strike
DHAKA, June 5, 2011 (AFP) – Thousands of riot police and elite paramilitary forces were deployed in the Bangladeshi capital Sunday after violence ahead of a nationwide strike to protest changes to the country’s electoral system. At least 12 buses were set on fire overnight and 40 people were arrested, police said, just hours before […]
Sri Lanka state fisheries firm lose Rs59mn
June 05, 2011 (LBO) – Sri Lanka’s Ceylon Fisheries Corporation, a state enterprise that retails fish has lost 59 million rupees in 2010 and has to better manage assets such as cold stores and freezer trucks, a finance ministry report said. The firm had the challenge of playing a ‘market stabilizer’ role with a market […]
Blanket Cover
June 4, 2011 (AFP) – Sri Lanka’s military tightened security ahead of the funeral Saturday of a protester killed while demonstrating against a controversial pensions bill earlier in the week, officials said. Authorities blocked large gatherings of mourners at the home of slain factory worker Roshen Ratnasekera, witnesses said, adding that troops had also shifted […]
India opens new probe into possible telecom scam
NEW DELHI, June 2, 2011 (AFP) – India, reeling from a telecom graft scandal that has forced the resignation of one minister, is conducting an investigation into the actions of his predecessor in the job, police said Thursday. India’s top federal police agency said it was conducting a “preliminary investigation” into the activities of former […]
”’ seeks global movie spotlight
CHENNAI, June 2, 2011 (AFP) – Science fiction film “Endhiran” was made in the south Indian language Tamil, but it pulled in huge profits from across the country and abroad — stoking global ambitions for “Kollywood”. Named after the Kodambakkam district of Chennai where many studios are based, the Tamil film industry aims to match […]
Pension Doubts
June 01, 2011 (LBO) – Sri Lanka’s main opposition has cast doubts on claims that a lifetime pension exceeding the contributed balance, will be paid through a controversial proposed pension plan for private citizens. “There is no way that the Government can make lifetime monthly pension payments via the proposed Private Sector Pension Scheme,” opposition […]
Step Down
June 01, 2011 (LBO) – Sri Lanka’s police chief has resigned over the shooting of protestors who opposed plans to build a pension fund by deducting more money from private sector workers who are already contributing to two state managed funds. A government statement said Inspector General Mahinda Balasuriya has decided to “tender his retirement” […]
India GDP figures set to show growth above 8%
NEW DELHI, May 30, 2011 (AFP) – India is expected to post economic growth of more than eight percent when it reports data for the fiscal fourth-quarter on Tuesday, despite a series of rate hikes that have hit industrial output. Asia’s third-largest economy is estimated to have expanded 8.2 percent from a year earlier in […]
Sri Lanka rubber plantation profits up
May 30, 2011 (LBO) – Sri Lanka’s Kegalle Plantations, which gets most of its revenues from rubber, said profits rose 14 percent to 270 million rupees with revenues growing 30 percent to 900 million rupees. Tea is a most labour intensive crop compared with rubber or coconut. The firm was charged 197 million rupees in […]
Sri Lanka CIC agro firm annual net up 58-pct
May 30, 2011 (LBO) – Sri Lanka’s CIC Holdings group said net profit for the financial year to March 2011 rose 58 percent to 929 million rupees from a year ago driven mainly by its agriculture and livestock business. Sales rose 27 percent to 21 billion rupees, the company said in a stock exchange filing. […]
‘t want to give up IMF power: India
NEW DELHI, May 28, 2011 (AFP) – India’s prime minister Saturday said there appeared little hope that an emerging nation candidate would be chosen to head up the International Monetary Fund in the current contest. The Indian premier’s comments came a day after France announced that the country’s finance minister Christine Lagarde would visit India […]