Category:
Riots rock Australian refugee centre on Nauru
SYDNEY, July 20, 2013 (AFP) – Buildings were torched as hundreds of asylum-seekers escaped detention during riots at an Australian refugee facility on Nauru, witnesses said Saturday, following the unveiling of a hardline immigration policy.The programme was ramped up Friday with an announcement that Australia was effectively closed to asylum-seekers arriving by boat in a […]
Sri Lanka forex reserves hurt by gold price fall
July 19, 2013 (LBO) – Sri Lanka’s central bank, an active trader in gold, has seen losses from steep falls in the precious metal in 2013 after making steady profits over several years as prices rose, according to published data. The Fed is now due to step off the gas pedal and the Euro Zone, […]
Sri Lanka foreign reserves drop in May 2013
July 19, 2013 (LBO) – Sri Lanka’s foreign reserves dropped to 6.6 billion US dollars in May from 6.85 billion US dollars in April partly due to due payments to the International Monetary Fund and falling gold prices, the Central Bank said. The Central Bank said it repaid 225.5 million US dollars to the IMF […]
Savings Rating
July 19, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has been given a ‘BB-‘ international rating by Fitch, ahead of a planned bond sale.“NSB’s ratings reflect Fitch’s expectation of the government of Sri Lanka’s high propensity but moderate ability to provide support to the bank in case of need,” Fitch said. “The state’s […]
Sri Lanka John Keells Holdings project gaming tax policy set out
July 19, 2013 (LBO) – Profits from gaming at a large resort to be built by John Keells Holdings in Sri Lanka’s capital Colombo will be charged corporate taxed at “applicable rates”, but rents would be exempt, a government notice said. A similar resort in Colombo, Lake Leisure Holdings, in a joint venture between Australia’s […]
Sri Lanka Crown project gets investment nod, tax breaks
July 19, 2013 (LBO) – Sri Lanka’s Lake Leisure Holdings (Pvt) Ltd, a gaming resort joint venture with Australia’s Crown group is being given sweeping tax breaks according to a government notice.Sri Lanka is expecting to boost up market tourists with gaming resorts which analysts say will push up city hotel rates, but other support […]
Closed
SYDNEY, July 19, 2013 (AFP) – Prime Minister Kevin Rudd Friday announced that no more boatpeople will be resettled in Australia as refugees, with all unauthorised arrivals to be sent to poverty-stricken Papua New Guinea.Australia will also contribute funds to reform the impoverished Pacific nation’s university sector and support other health, education and law and […]
Anti Migrant
July 19, 2013 (LBO) – Boat people arriving in Australia from countries like Sri Lanka and others may be settled in Papua New Guinea and other developing countries, media reports said. AFP news agency quoting the Australian Broadcasting Corporation said Australia has struck a deal with PNG Prime Minister Peter O’Neill to process and settle […]
European lawmakers press Sri Lanka to probe war crimes
COLOMBO, July 19, 2013 (AFP) – European parliamentarians Friday asked Sri Lanka to deliver on promises to investigate allegations of war crimes and ensure ethnic reconciliation more than four years after crushing Tamil separatists.A delegation of EU lawmakers requested Colombo ensure accountability in the face of what the UN calls “credible allegations” of up to […]
Sri Lanka exports down 1.5-pct, apparel up in May
July 19, 2013 (LBO) – Sri Lanka’s exports fell 1.5 percent to 793.9 million US dollars in May 2013 from a year earlier, but apparel exports rose 2.1 percent to 318.9 million US dollars, official data showed. Agricultural products exports fell 6.8 percent to 197.9 million US dollars in June from a year earlier, rubber […]
Port Road
July 18, 2013 (LBO) – A 260 million dollar circular highway around Sri Lanka’s Northeastern port city of Trincomalee will be built by a Chinese contractor with financing from the Industrial and Commercial Bank of China, a minister said.Information minister Keheliya Rambukwelle said the cabinet of ministers had awarded the building contract to Hunan Road […]
Micro Oversight
July 18, 2013 (LBO) – Sri Lanka will begin regulating micro financing institutions with large entities coming directly under the central bank information minister Keheliya Rambukwelle said.A third category coming under the Commissioner of Co-operative Development and Registrar of Co-operative Societies, Divineguma Department will be exempted from Central Bank regulations. They will come under existing […]