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Protests in Sri Lanka over French film festival
COLOMBO, July 17, 2013 (AFP) – Hundreds of government supporters protested outside the French embassy in Colombo Wednesday over a film festival which included a local movie considered by Sri Lanka’s military to be insulting. Demonstrators chanted anti-French slogans, denouncing the Sinhalese-language movie “Flying Fish” and the embassy for showing it at the French film […]
Sri Lanka Treasuries ease on longer tenures
July 17, 2013 (LBO) – Sri Lanka’s 12- Treasuries yield fell 05 basis points to 10.59 percent at Wednesday’s auction, though the 3-month yield was flat, data from the state debt office showed. The 6-month yield fell 02 basis points to 9.66 percent and the 3-month yield was flat at 8.63 percent. The debt office […]
Sri Lanka to keep rates on hold till September: report
July 17, 2013 (LBO) – Sri Lanka expects to keep rates on hold till September, and policy rates will be kept unchanged this month, a media report said. “We had to ensure that the policy measures that we have put in place now are not reversed too quickly and there’s no need to reverse it […]
Fleet Expansion
July 17, 2013 (LBO) – Sri Lanka’s Tokyo Cement group said it planned to buy two more vessels in the next three years, as the firm expanded.“Therefore, sudden spikes in freight costs have significant and unavoidable negative impacts on the company’s balance sheet. “Our decision to invest in our own fleet of vessels therefore, has […]
Sri Lanka tourist arrivals up 12.8-pct in June
July 17, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 12.8 percent to 73,628 in June 2013 from a year earlier, with half year arrivals up 13.1 percent to 512,281, data from the state tourism promotion office showed. South Asian visitors were up 9.6 percent to 21,915 with Maldives up 29.4 percent to 5,454, Pakistan […]
India eases foreign investment rules in new reform push
NEW DELHI, July 16, 2013 (AFP) – A group of Indian cabinet ministers late on Tuesday cleared plans to remove the foreign investment cap in telecoms and relax overseas ownership rules in a host of sectors in a new economic reforms push.Economists say India needs foreign investment to spur growth and also to close its […]
India police release sketches of suspected temple bomber
PATNA, July 16, 2013 (AFP) – Indian police investigating bomb blasts at one of Buddhism’s holiest sites released sketches of a suspect on Tuesday and offered a reward for information about the attacks.Buddhists are rarely targeted in India but there have been tensions in the wider region recently following clashes between Buddhists and Muslims in […]
British arms exports under fire in parliament
LONDON, July 17, 2013 (AFP) – Britain has issued export licences worth £12 billion ( billion, 14 billion euros) for the sale of military equipment to states deemed possible rights violators including Syria, Iran and China, lawmakers said Wednesday.But the report also raised concerns about a further five countries for which licences were issued: Argentina, […]
SriLankan Airlines feted for services to Indian Ocean tourism
July 17, 2013 (LBO) – Sri Lanka’s state-run SriLankan airlines has been given an award for special services to tourism in the Indian Ocean at a regional hospitality event of a global tourism award scheme. The World Travel Awards held its Indian Ocean ceremony in Maldives earlier this week where SriLankan received the new award. […]
‘s Piramal Glass unit sells more land
July 17, 2013 (LBO) – Sri Lanka’s Piramal Glass Ceylon Plc, a unit of India’s Piramal group said it was selling a second tranche of its former factory premises in a Colombo suburb for 415 million rupees.The company said in a stock exchange filing that the land had been sold to Ideal Motors (Pvt) Ltd. […]
Krrish given more time to pay for Sri Lanka land: report
July 17, 2013 (LBO) – Sri Lanka has given another extension to pay for state land in the capital Colombo for a proposed real estate project by India’s Krrish group, a media report said. Sri Lanka’s The Island newspaper said the firm had been given till July 31 to pay up the balance due for […]
Sri Lanka cement demand to pick up: Tokyo Cement
July 17, 2013 (LBO) – Sri Lanka’s Tokyo Cement said demand is expected to recover from a contraction in the first quarter of 2013 and medium term growth is estimated at 10 percent a year.Tokyo Cement, a joint venture with Japan’s Nippon Coke and Engineering Company Ltd, operates grinding plants in Trincomalee port in northeastern […]