Category: Other
Maldives forex shortages hit airlines: report
Apr 09, 2011 (LBO) – A dollar peg in the Maldives which is coming under pressure from excess domestic money has hit the airline business and also cut the real wages of expatriate workers, a media report said. Minivan News an online publication said Galaxy Enterprises which is the general sales agent for SriLankan Airlines […]
Sri Lanka tea prices hit by Middle East turmoil
Apr 08, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auction as turmoil in the Middle East, one of the main importing regions, affected shipments and payments, brokers said. All three elevations, high, medium and low have seen increases of 27.0, 20.45 and 7.28 rupees over last year. Prices of low […]
Gurkhas in first wave of British military job cuts
LONDON, April 7, 2011 (AFP) – Debt-laden Britain said Monday that 2,600 troops would lose their jobs in a first wave of redundancies forced by defence cuts, with 150 Nepalese Gurkha troops among the first to go. The Ministry of Defence (MoD) said that 1,000 soldiers and 1,600 Royal Navy personnel would be laid off. […]
‘s Satya Sai Baba in critical condition: doctors
HYDERABAD, April 5, 2011 (AFP) – One of India’s best-known spiritual leaders, known for his apparent miracles and long list of influential followers, is on life support in hospital, doctors said Tuesday. Satya Sai Baba, 85, who has devotees in more than 100 countries, was admitted to a hospital funded by his organisation in the […]
India charges ex-minister in telecom graft scandal
NEW DELHI, April 2, 2011 (AFP) – Indian police on Saturday charged a former telecom minister with abuse of power and conspiracy in an alleged mobile spectrum fraud that cost the country billions of dollars in lost revenue. The south Indian politician, A. Raja, was also accused of cheating, forgery and criminal misconduct on a […]
India eases foreign investment rules
NEW DELHI, April 1, 2011 (AFP) – India has eased regulations governing foreign companies and their Indian joint venture partners as it seeks to halt a decline in direct foreign investment. Foreign companies with an existing joint venture in India will no longer need the local partner’s permission if they want to set up a […]
Remanded
March 31, 2011 (AFP) – Sri Lankan police remanded in custody on Thursday an employee of an anti-government website over allegations that he made threats to the brother of an arson suspect. Police spokesman Prishantha Jayakody said Bennet Rupasinghe, the Sri Lanka-based news editor of lankaenews.com, was arrested and remanded in custody until April 7. […]
Forex Fine
Apr 01, 2011 (LBO) – Sri Lanka has fined Standard Chartered Bank 27 billion rupees, (245 million US dollars) under the country’s exchange controls laws for a capital transfer over a disputed oil derivative, a media report said. Sri Lanka’s Standard Chartered Bank, Citibank, Deutsche Bank and two local banks sold complex leveraged options positions […]
Sri Lanka, India agree not to use force on poachers
Mar 30, 2011 (LBO) – India and Sri Lanka have agreed not to use force on fishermen who break the law regularly by poaching in each other’s waters after illegally crossing the maritime boundary. They also agreed that representative of each nation’s fishing community, whose illegal cross-border forays for poaching have become a diplomatic issue, […]
” circles the globe
WASHINGTON, March 27, 2011 (AFP) – Lights went off around the world Saturday as landmark buildings and ordinary homes flipped their switches while the annual “Earth Hour” circled the planet in what was dubbed the world’s largest voluntary action for the environment. In Paris a minute’s silence was observed for Japan as the city of […]
Bulls turn bears on India as doubts grow
NEW DELHI, March 27, 2011 (AFP) – Investors have turned bearish on India despite government forecasts of nine percent economic growth, as concerns over widespread corruption and high inflation knock confidence, analysts say. Only a few months ago investors were pouring into Indian equities, seeing the country as a promising high-growth market and talking about […]
Indian PM commits to reforms
NEW DELHI, March 26, 2011 (AFP) – India’s prime minister has reaffirmed his Congress-led government’s commitment to economic reforms as the administration battles a host of corruption scandals. Economic liberalisation had “ended old opportunities for corruption and favouritism… but human ingenuity and the desire to make a quick buck are such that the greedy are […]