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Sri Lanka private inflation index surges to 9.9-pct in July
Sept 02, 2013 (LBO) – Inflation in Sri Lanka’s key cities rose 9.9 percent in August 2013 from a year earlier accelerating from 6.1 percent in July, a price index compiled by private citizens showed.The CAL Urban Index, compiled by an investment research house, rose 2.4 percent in August, after falling 1.4 percent in July. […]
Credit Trend
Sep 02, 2013 (LBO) – Sri Lanka’s commercial bank credit to private borrowers hit a 10 months high in July after a reserve ratio cut, while credit to state and state enterprises also surged, official data shows.Only the April fiscal data has so far been released. State cash flow gaps however can also occur due […]
‘s Softlogic gets Burger King franchise
Sept 02, 2013 (LBO) – Sri Lanka’s Softlogic Holdings Plc said it had got the franchise to set up Burger King branded restaurants in Sri Lanka.BK AsiaPac will provide services and operational support for the chain in Sri Lanka. Corrected Soflogic Restaurants (Pvt) Ltd, a fully subsidiary will open three restaurants within a few months, […]
Forestry Case
Aug 02, 2013 (LBO) – A provincial High Court in Sri Lanka is to hear a petition to wind up Touchwood Investments, a Colombo-based forestry firm, according to a newspaper notice placed by lawyers. A notice in Sri Lanka’s Daily News, newspaper said, a resident of Rajagiriya, a suburb of Colombo has petitioned the High […]
Migration
SYDNEY, September 2, 2013 (AFP) – New policies targeting asylum-seekers taking boats to Australia had “broken the back” of the people-smuggling trade, Immigration Minister Tony Burke said Monday, claiming victory on the sensitive election issue. Burke said the ruling Labor party’s plan to send all asylum-seekers arriving by boat to Papua New Guinea and Nauru […]
Silver Status
Sep 02, 2013 (LBO) – MillenniumIT, a unit of London Stock Exchange group based in Sri Lanka said it had become the first firm to be a ‘Silver Certified Partner’ of Cisco System, a network equipment maker. Gladwyn Georgez, head of networking business at MillenniumIT said the award of the Silver status is recognition of […]
India may shut petrol pumps at night to save rupee
NEW DELHI, September 2, 2013 (AFP) – India is considering closing fuel pumps at night as one of a number of “austerity measures” aimed at cutting its ballooning oil import bills, the oil minister said.The government has partially deregulated petrol and hiked diesel prices in an effort to contain the ballooning debt caused in part […]
Sri Lanka rights group says it was harassed after UN meeting
COLOMBO, September 2, 2013 (AFP) – A Catholic-run human rights group working in northeastern Sri Lanka said Monday it had been harassed by security personnel after meeting UN rights chief Navi Pillay last week.Pillay ended her first trip to the formerly war-ravaged country at the weekend with a stinging press conference in which she accused […]
Indian Oil Corp. raises petrol, diesel prices
NEW DELHI, September 1, 2013 (AFP) – India’s biggest refiner, Indian Oil Corporation, increased petrol prices by more than 3.5 percent from Sunday, blaming the falling rupee for the hike. The company also raised diesel prices by just over one percent, it said in a statement issued late on Saturday, after a week which saw […]
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COLOMBO, September 1, 2013 (AFP) – Sri Lanka’s state-run media Sunday accused UN human rights chief Navi Pillay of being “prejudiced”, a day after she warned that the island was becoming “increasingly authoritarian”.Pillay ended a fact-finding mission to the country to probe allegations of war crimes Saturday by saying Sri Lanka was a place where […]
Sri Lanka relieves officers over killing of villagers
August 30, 2013 (AFP) – Sri Lanka’s army on Friday reprimanded senior officers accused of leading a deadly crackdown earlier this month on villagers who were demonstrating against contaminated water, the military said.She is visiting Sri Lanka in connection with allegations that troops killed up to 40,000 civilians in the final stages of the war […]
Sri Lanka becoming more authoritarian: UN rights chief
COLOMBO, August 31, 2013 (AFP) – UN human rights chief Navi Pillay on Saturday accused Sri Lanka of becoming “increasingly authoritarian”, with activists facing growing military harassment four years after the end of a civil war.Rajapakse’s government has since been dogged by claims of indiscriminate killing of ethnic minority Tamils. Pillay charged that military officials […]