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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
‘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 […]
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 […]
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 […]
‘s Bharti Airtel sees 100-million mobile subscribers
NEW DELHI, May 15, 2009 (AFP) – India’s top mobile phone company Bharti Airtel announced Friday it had crossed the 100-million subscriber mark and expected to double that number within the next three years. The New Delhi-based company announced a 26 percent jump in net profit for last year to 84.69 billion rupees (1.68 billion […]
Congress set to return to power in India
NEW DELHI, May 16, 2009 (AFP) – India’s ruling Congress-led alliance was set to return to power after taking a clear and commanding lead Saturday in vote counting from the country’s marathon general elections.Congress spokeswoman Ambika Soni said party leaders and their allies would meet later in the day to discuss how they would go […]