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‘s Reliance halts future oil and gas drilling
MUMBAI, October 17, 2011 (AFP) – India’s energy giant Reliance Industries has suspended drilling at its oil and gas exploration blocks covered under a deal with new venture partner BP pending a review, a company source said on Monday. India’s largest private oil explorer is “re-evaluating” its exploration and production strategy in partnership with the […]
‘s North Central Province
Oct 17, 2011 (LBO) – For the longest time, the provinces fell out in the following pattern: the Western Province in the lead; the Central, North Western and Southern Provinces in the middle; and the North Central, Sabaragamuva, Uva, Eastern and Northern Provinces as the laggards. The 2009-10 Household Income and Expenditure Survey tells a […]
Anti-capitalist protests spread as predicted by Austrian school
Oct 17, 2011 (LBO) – Anti-capitalist protests have spread to several European capitals from the US, with protestors converging on financial districts, in a text book style consequence of excessive state interference, long predicted by Austrian economists. The US in particular is suffering from the collapse of a massive credit expansion fired by easy money […]
Protesters camp in London, Frankfurt after clashes
LONDON, October 16, 2011 (AFP) – Hundreds of protesters camped out in London, Frankfurt and Amsterdam on Sunday, with some vowing to settle in for the long term as part of their campaign against corporate greed and budget cuts. The three camps, each of them in the heart of the cities’ financial districts, sprang up […]
Port Billing
Oct 16, 2011 (LBO) – The Sri Lanka Ports Authority aims to have a long-delayed online billing system ready by January 2012 with the customs already ready with an electronic payment portal having done test runs. He requested the trade to use parts of the system which were now operational such as filing ‘CusDec’ or […]
Indian Ocean sea level rise; contrary research heard in India: report
Oct 16, 2011 (LBO) – A researcher who is questioning claims and forecasts on sea level rises connected to man made climate change, has got a hearing in India at a conference, a media report said. said Nils-Axel Morner, a Swedish academic had disputed claims of Indian Ocean sea level increases. Morner is a key […]
Sri Lanka electricity no longer highest in region: analyst
Oct 15, 2011 (LBO) – Sri Lanka’s power tariffs are no longer the highest in the region for manufacturing, though it was most expensive for larger households, even topping Singapore, an analyst has said. Exorbitant prices were also paid by some service sector customers. “We are the highest in the region for household using lots […]
Sri Lanka and Vietnam to open trade; aim for billion dollar target
Oct 15, 2011 (LBO) – Sri Lanka and Vietnam will begin talks on trade liberalization aiming to expand two way trade over 10 fold to a billion US dollars over the next few years, a joint communiqué following visit by President Truong Tan Sang said. Vietnam also sells textiles for Sri Lanka’s apparel trade. No […]
British defence minister resigns over ties to best man
LONDON, October 14, 2011 (AFP) – British Defence Secretary Liam Fox resigned on Friday, forced out over his links to the best man at his wedding who posed as a government adviser while foreign donors funded his trips with the minister. “I mistakenly allowed the distinction between my personal interest and my government activities to […]
Sri Lanka spending to be upped 15-pct in 2012: preliminary data
Oct 14, 2011 (LBO) – Sri Lanka plans to spend 1,640 billion rupees in capital and current expenditure in 2012 up 15.5 percent from a year earlier, preliminary data released by the finance ministry showed. It leaves the state with a deficit of 525 billion rupees. However government spokesmen had said earlier that in 2012 […]
Sri Lanka and Vietnam ink oil deals
Oct 14, 2011 (LBO) – Sri Lanka and Vietnam can expand trade and investment in petroleum, telecoms, agricultural machinery and fisheries, visiting Vietnam President Truong Tan Sang told a business forum in Colombo. Sri Lanka’s state-run Ceylon Petroleum Corporation also signed a deal on diesel trade with PetroVietnam’s Singapore arm. President Sang said bilateral meetings […]
” development nears kick off: official
Oct 14, 2011 (LBO) – Work on a ‘linear park’ for recreation and night life bordering Beira Lake in Sri Lanka’s capital Colombo will begin early in 2012, a senior urban development official said. Its own building which was housed in the area would be made available for development as a 12-acre block after shifting […]