Category: Other
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 […]
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 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. […]
Australia pressures Malaysia on people-smuggling
KUALA LUMPUR, July 6, 2009 (AFP) – Malaysia on Monday appealed for international help to curb people-smuggling, amid talks with Australian leaders who are pushing for action to close down illegal migration routes.Prime Minister Kevin Rudd is due to arrive here later Monday to pressure Malaysia on the thousands of illegal immigrants hit by wars […]
” return to 9.0 percent growth
NEW DELHI, July 6, 2009 (AFP) – India’s finance minister targeted a return to 9.0 percent economic growth “at the earliest” in a budget speech Monday that suggested the country had seen off the worst of the global financial crisis.But in announcing increased funding for farmers and poverty alleviation programmes, Pranab Mukherjee also warned that […]
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 […]
Indian budget faces tough balancing act: economists
MUMBAI, July 5, 2009 (AFP) – India’s new Congress-led government will have to balance conflicting objectives of spurring growth and reining in a soaring fiscal deficit when it presents its first budget on Monday.Economists and analysts predict the budget will focus on regulatory and structural reform to stimulate growth, rather than announcing large government stimulus […]
India looks to cut out the middlemen on gold
MUMBAI, July 5, 2009 (AFP) – Gold has long had a special attraction for Indians.Loaded with cultural and religious significance, it is considered an auspicious metal and a visible sign of wealth and prosperity.Four refineries — two in Mumbai and two in Ahmedabad, in nearby Gujarat state — have already been approved.It is hoped to […]
Media Muzzle
July 05, 2009 (LBO) – Fresh attempts by Sri Lanka’s government to muzzle the press and block the freedom speech of the people through a draconian law will hurt the economy and corporate sector, a senior lawmaker and commentators have warned. “This archaic law’s provisions effectively ban the reporting of matters as sweeping as those […]
Sri Lanka favours GM food: agriculture minister
July 03, 2009 (LBO) – Sri Lanka is not opposed to genetically modified (GM) food and is likely to allow their use with certain restrictions, a government minister has said.Hemakumara Nanayakkara, the non-Cabinet minister of agricultural development, said the government was consulting foreign experts on allowing GM food imports and cultivation of GM crops. He […]
Just Safeguards
July 02, 2009 (LBO) – Many of the safeguards guaranteed by Sri Lanka’s laws of evidence were missing in recent fundamental rights petitions where private parties were involved, and there was a reliance on third party accounts, a senior lawyer said.Senior lawyer K Kanag-Isvaran said the articles 10 to 15 of Sri Lanka’s constitution guaranteed […]
‘s money in agriculture
July 02, 2009 (LBO) – The head of Sri Lanka’s Chemical Industries (Colombo) (CIC) said the company’s investments in agriculture proved it was profitable but investors should target niche, high-value products as land was limited.The company arranges visits to farms for people interested in entering the sector and also train about 1,000 farmers a year […]