Category: Other
Cheap housing offers lifeline to Indian developers
NEW DELHI, July 15, 2009 (AFP) – “No frills, Simple homes” reads the banner hanging in the Delhi headquarters of Unitech, India’s leading property developer.It’s a mantra that has been taken up by realtors across the country with a new-found passion for affordable housing that owes little to their social conscience and everything to their […]
Sri Lanka cinnamon trade says malpractices giving bad name
July 14, 2009 (LBO) – Sri Lankan cinnamon prices are on the rebound after last year’s crash, but exporters are calling for curbs on malpractices which they say could give the spice a bad name among buyers.Among the problems are cinnamon of inferior colour, inferior infilling in quills, and high moisture content. Trade experts said […]
Sri Lankan women farmers get US support
July 14, 2009 (LBO) – A US-funded loan scheme has helped Sri Lankan women farmers overcome capital shortages, droughts, and other calamities that threatened their financial security and survival of farms, a US embassy statement said. “These modernizations increase the availability of micro credit loans, allowing the Women™s Co-op to expand its membership and benefit […]
Forex Charge
July 11, 2009 (LBO) – A high profile opposition lawmaker has been charged under Sri Lanka’s exchange control laws for assisting a foreign investor to deposit three million US dollars in a private bank, a media report said.UNP lawmaker Ravi Karunayake has been indicted with violating exchange control laws by helping deposit the money in […]
Sri Lanka tea aid dispersal slow: official
July 10, 2009 (LBO) – A Sri Lankan government aid package for the tea industry to recover from a crash in prices is being disbursed only slowly, a senior industry official said. The industry faced cash flow problems as large volumes remained unsold at the auctions at the time and buyers reneged on contrcats. That […]
Change Agent
July 10, 2009 (LBO) – An international lawyer’s group has welcome recent comments by Sri Lanka’s newly appointed Chief Justice Ashoka de Silva, who said he would reform a key body which runs key sections of the country’s judicial system. Sri Lanka’s Judicial Service Commission (JSC) a three-member body which is chaired by the Chief […]
Sri Lanka can balance growth with environment: expert
July 09, 2009 (LBO) – Sri Lankan policy makers should not over emphasize on pollution control as the economy is still at a early development stage, as it may hinder economic growth and slowdown job creation, a leading expert on carbon finance said. “Right now I think developing the economy and creating jobs should be […]
Come Back
July 09, 2009 (LBO) – A former Sri Lankan Treasury secretary, P B Jayasundara, who was removed by the Supreme Court, might return to his old job if he is allowed to by a new bench, a senior minister said. Court said conglomerate John Keells Holdings (JKH) which bought the ship fuel business had secured […]
Land Deal
July 08, 2009 (LBO) – Sri Lanka’s Supreme Court is to hear fresh arguments from petitioners seeking to revise a judgement last year that reversed a controversial transfer of state land to a private developer in a landmark case. Counsel for another group that had bought land in the property development project said they had […]
Sri Lanka coconut cultivators ask for freedom
July 07, 2009 (LBO) – Sri Lankan coconut cultivators have demanded they be allowed to sell land on which growing coconuts has become unremunerative as nut prices have fallen.Coconut is an important part of the diet of Sri Lankans and the island’s crop is not enough to feed both industries as well as domestic consumers. […]
Indian budget deficit spooks markets
MUMBAI, July 6, 2009 (AFP) – India’s stock markets on Monday gave a thumbs-down to the government’s annual budget, spooked by a rising fiscal deficit and saying there was no clarity on boosting foreign investment. Economists said the lack of a clear plan for the sale of government stakes in state-run enterprises also disappointed, as […]
Sri Lanka rules out removing rice price controls
July 06, 2009 (LBO) – Sri Lanka’s government which restricts the import of rice and has imposed high tariffs on substitute carbohydrates says ‘price controls’ on rice will remain, blaming a milling oligopoly for high prices. Potatoes are charged a 15 rupee tax per kilogram. The government also allocates money to buy rice to keep […]