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Delivering mail in Kabul, where streets have no name
KABUL, July 15, 2013 (AFP) – In Kabul, many streets have no name and houses often have no number, meaning that postmen already braving the constant threat of suicide bombings must play detective to deliver mail. Such hard work is not well-rewarded in Afghanistan, which has 900 postmen nationwide with 100 in Kabul. Agha earns […]
Sri Lanka state airline to get Rs25bn bailout: report
July 15, 2013 (LBO) – State-run SriLankan Airlines will get a 25 billion rupee tax-payer bailout, through a Treasury bond to settle fuel bills, a media report said.Sri Lanka’s The Sunday Times newspaper quoted civil aviation minister Priyankara Jayaratne as saying that the Treasury has agreed to pay 25 billion rupees owed to state-run fuel […]
Cricket: Review system in spotlight after Ashes thriller
NOTTINGHAM, July 15, 2013 (AFP) – If ever confirmation was needed the umpire’s decision is no longer final, at least at international level, the first Test between England and Australia at Trent Bridge provided the proof.An enthralling match, which England won by 14 runs, was beset by controversies over the use of the Decision Review […]
Sri Lanka industries fear upcoming land ownership restrictions
July 15, 2013 (LBO) – Planned restrictions on land ownership in Sri Lanka by foreigners may hurt industrial expansion in the country, an association representing some of the largest industries in the country said. “A number of our member and other large manufacturing companies in Sri Lanka are foreign owned,” Pravir Samarasinghe, head of the […]
‘s maturing foreign debt, budget deficit a concern: Fitch
July 15, 2013 (LBO) – Sri Lanka’s 6.0 percent growth level and lower inflation helped its ‘BB-‘ rating but a high budget deficit and maturing foreign debt were concerns, Fitch Ratings has said in a regional review. An improvement in public or external financing can help an improve the while a significant deterioration in public […]
‘s faster rise in household expenses, lower carb intake a concern: economist
July 15, 2013 (LBO) – A faster rise in expenditure than income and a reduction in consumption of rice and wheat was a concern that policymakers have to pay attention, a legislator and economist said. Opposition legislator Harsha de Silva said, according to the initial results of a 2012 household income and expenditure survey of […]
Piracy
MOGADISHU, July 13, 2013 (AFP) – At least three, and perhaps all, of the 15-man crew of a merchant vessel that sank last week while being held by Somali pirates are alive, their families said Saturday.The Malaysian-flagged MV Albedo container ship, seized by Somali pirates in November 2010, sank last week in rough seas a […]
Consolidation
July 14, 2013 (LBO) – Sri Lanka is looking to be flexible on banks share ownership limits to make it easier to merge and allow sector consolidation, a top regulatory official said.However analysts say financial institutions play in different risk categories. Non bank financial institutions generally play in the more risky categories not accessed by […]
India ready for bilateral investment treaty talks with US
NEW DELHI, July 13, 2013 (AFP) – India is ready for talks with the United States on a bilateral investment treaty to reinvigorate commercial ties between the world’s two biggest democracies, a report said Saturday.The announcement comes days after neighbouring China and the United States agreed to relaunch talks on a similar bilateral investment treaty. […]
Bhutan cements democracy with tight election race
THIMPHU, July 13, 2013 (AFP) – The Himalayan kingdom of Bhutan concludes its second-ever election on Saturday, with the race to form a government too close to call as voters give their verdict on five years of democracy.The incumbent Druk Phuensum Tshogpa (DPT) party is up against the People’s Democratic Party (PDP) to lead the […]
Petro Search
July 13, 2013 (LBO) – Sri Lanka is revamping its petroleum exploration law to provide better investor protection and to clearly separate regulatory and upstream activities, a top official said.Wickramasuriya told a business forum ahead of a bidding round that is to close in November that since the existing law which was drafted in 2003 […]
Sri Lanka forex market firm quotes, liquidity slightly lower
July 12, 2013 (LBO) – Sri Lanka’s forex markets saw firm quotes for the spot US dollar Friday at around 130.85/131.00 though trading was still active for spot-next deals where settlement is made three days ahead, dealers said.On Thursday the debt office sold April 11, 2018 bonds at a weighted average yield of 11.18 percent, […]