Category: Other
Jury Delay
NEW YORK, May 2, 2011 (AFP) – Jury deliberations in Wall Street’s biggest insider trading trial for a generation will be suspended for a day, a judge ordered Monday, as the wait for a verdict entered its second week. Judge Richard Holwell in New York federal court said deliberations would resume Wednesday after pausing “in […]
Probe Order
May 2, 2011 (AFP) – Sri Lanka’s sports minister on Monday ordered a police inquiry into match-fixing allegations levelled by former international captain Hashan Tillakaratne. Tillakaratne, who played 83 Tests and 200 one-dayers during a 15-year career, said last week that Sri Lankan players had been involved in match-fixing since 1992 adding that he was […]
Maldives police use tear gas as protesters clash
May 3, 2011 (AFP) – Maldives police on Tuesday used tear gas and batons to break up an anti-establishment protest after a third night of clashes between government and opposition activists turned violent. Police spokesman Ahmed Shiyam said at least six people were arrested after activists started fires on Monday night along the cobbled streets, […]
India hikes key interest rates by 50 basis points
MUMBAI, May 3, 2011 (AFP) – India’s central bank on Tuesday raised lending rates by a bigger-than-expected 50 basis points, its ninth hike in 15 months to curb inflation, and warned that the move could slow economic growth. The Reserve Bank of India raised its repo — the rate at which it lends to commercial […]
Bin Laden killing casts doubt on Pakistan loyalties
ABBOTTABAD, May 2, 2011 (AFP) – The killing of Osama bin Laden by US forces at a palatial villa near the capital raised fresh questions Monday over Pakistan’s loyalties in the war against Al-Qaeda. For years, Western officials believed that the world’s most wanted man, with a million price on his head, was hiding in […]
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NEW DELHI, May 2, 2011 (AFP) – The killing of Al-Qaeda mastermind Osama bin Laden near Islamabad is further evidence that terrorists find “sanctuary” in Pakistan, Indian Home Minister P. Chidambaram said Monday. “We take note with grave concern that part of the statement in which President Obama said that the firefight in which Osama […]
Sri Lanka Talawakelle Tea buoyed by rubber, hydro power
May 02, 2011 (LBO) – Sri Lanka’s Talawakelle Tea Estates said March 2011 quarter net profit rose nine percent to 72 million rupees from a year ago with lower tea earnings offset by gains from rubber and hydro power. Profits from mini-hydro power soared 319 percent to 29 million rupees during the quarter from seven […]
Sri Lankan tea prices fall
Apr 29, 2011 (LBO) – Larger crops following heavy rain and a drop in quality dragged down Sri Lankan tea prices at this week’s Colombo auction although the biggest harvest has eliminated a crop deficit, brokers said. “There was fair general demand mostly at lower levels for Low Grown varieties at this week™s auction,” Asia […]
Sri Lanka gets Korean loan for solid waste disposal
Apr 28, 2011 (LBO) – Sri Lanka is to get a loan equivalent to 33,536 million US dollars (41,886 million rupees) from South Korea to build four facilities for disposal of solid waste which is a growing problem in the island. The Korea Economic Development Fund of the Export – Import Bank of Korea is […]
Sri Lanka gets Indian aid to revive fish net factory
Apr 28, 2011 (LBO) – Sri Lanka is to get Indian aid to revive and expand a fish net factory in the northern Jaffna peninsula where fishing is a key economic activity under efforts to help fishermen resume their livelihood. The Northsea factory at Gurunagar was damaged during the island’s 30-year ethnic war which ended […]
Vodafone finds India tough going
NEW DELHI, April 27, 2011 (AFP) – When British mobile phone giant Vodafone paid $11.1 billion to buy an Indian cellular operator four years ago, it had high hopes the purchase would offset saturated markets at home. “This kind of deal is what we all dreamed about when we were students,” former chief executive Arun […]
Sri Lanka moves to protect Ceylon tea brand
Apr 27, 2011 (LBO) – Sri Lanka’s commerce and industry ministry has allocated funds to register ‘Ceylon tea’ under the global geographical indicators (GI) trade regime that will better protect the island’s best known brand. Registration under the GI will prevent abuse of the Ceylon tea brand, government officials have said. The commerce and industry […]