Category: Other
Bare Facts
May 23, 2009 (LBO) – The primary objective of a central bank is to stabilise the value of its currency and continue to maintain that stability to facilitate long term economic growth. There could be other ancillary objectives assigned to a central bank, such as providing liquidity to the government to bridge its revenue and […]
Australian navy intercepts refugee boat: minister
MELBOURNE, May 24, 2009 (AFP) – The Australian navy intercepted a refugee boat with 77 people aboard Sunday off the country’s northwest coast, Home Affairs Minister Bob Debus said. The boat is the 13th suspected people-smuggling craft to have been stopped in Australian waters or to have made landfall since January, prompting criticism from the […]
Foreign institutions invest over US$3bn in Indian bourses in 2009
NEW DELHI, (Asia Pulse) – Foreign Institutional Investors’ (FIIs) inflow into the Indian stock markets has crossed the US$3 billion mark (over Rs 15,725 crore) so far this year, with as much as US$2 billion coming in just five trading sessions. Since the beginning of new fiscal year, FIIs have started putting money in domestic […]
Sri Lanka tea prices hit by stronger rupee, lower quality
May 22, 2009 (LBO) – Sri Lankan tea prices fell at this week’s auction with a sudden strengthening of the rupee adding to downward price pressure caused by bigger volumes and lower quality, brokers said. Asia Siyaka also said tea prices generally declined for most categories due to lower quality following a holiday period. “The […]
India seeks death certificate of Tamil Tiger leader: official
NEW DELHI, May 21, 2009 (AFP) – India on Thursday asked Sri Lanka to provide the death certificate for Tamil Tiger leader Velupillai Prabhakaran, a foreign ministry official told AFP. The separatist rebel chief, who was reported killed by Sri Lankan forces earlier this week, was wanted in India for planning the 1991 assassination of […]
Maldives joins International Labour Organization
May 21, 2009 (LBO) – The Indian Ocean tourist paradise of Maldives has joined the International Labour Organization (ILO), the UN agency which deals with labour issues said.The membership started on May 15, with president Mohamed Nasheed accepting obligations under the constitution of the ILO. “We warmly welcome the Republic of Maldives to the ILO […]
No More
May 20, 2009 (LBO) – A man who ran an illegal Ponzi-style ‘investment’ scheme in Southern Sri Lanka, offering high interest rates until its collapse last year when he failed to repay investors, has been shot dead, police said. Piyadasa Ratnayake, from the southern Sri Lankan township of Hungama was abducted in the early hours […]
Indian industry looks to new government to boost growth
MUMBAI, May 20, 2009 (AFP) – The newly elected Congress-led government needs to move swiftly and decisively to restore blistering economic growth in India, even if that means higher inflation, industry leaders here say. As Prime Minister Manmohan Singh prepares for a second term of office, business executives said they hoped the government would announce […]
UN chief announces Sri Lanka trip
GENEVA, May 19, 2009 (AFP) – UN Secretary General Ban Ki-moon said he will visit Sri Lanka on Friday and called for immediate progress on reconciliation following the government’s declaration of victory over Tamil Tiger rebels.“We urgently need to treat the wounds of a war that has alienated the communities in the island for almost […]
‘s independents take stock after election drubbing
MUMBAI, May 19, 2009 (AFP) – A new wave of reform-minded candidates are taking stock after the Indian general election, following high-profile campaigns that failed to translate into votes at the ballot box. “This is going to take some time to change,” he told AFP.“People are definitely talking about better people in parliament, not only […]
Sri Lanka Carson unit says palm oil market stabilised
May 18, 2009 (LBO) – Palm oil prices have stabilised after last year’s collapse and demand should grow in future, according to Good Hope, a subsidiary of Sri Lanka’s Carson Cumber batch group with plantations in Malaysia and Indonesia.“Further, sustained economic growth in largely populated countries like China and India and increased effect of urbanization […]
‘s triumphant Congress prepares for government
NEW DELHI, May 17, 2009 (AFP) – India’s Congress Party began the task of forming a government Sunday after steering its ruling alliance to a second term in office with a resounding win over its Hindu nationalist rivals.Senior alliance leaders met to formulate strategy and to choose which parties it might approach about securing a […]