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Germany hits out at US as Greece vows action on debt
BERLIN, September 27, 2011 (AFP) – Germany told the United States Tuesday to stop pointing the finger at Europe for its own economic ills while debt-hit Greece promised to do its utmost to avert a financial meltdown in the eurozone. Elsewhere in the German capital, Greek Prime Minister George Papandreou insisted that Athens was pulling […]
Sri Lanka stocks becalmed
Sept 27, 2011 (LBO) – Sri Lankan stocks were becalmed for the second day Tuesday with turnover also lower than usual amind continued trade in shares that had drawn speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.43 points) to 6,737.45, while the more liquid Milanka index rose 0.03 percent (1.77 […]
Sri Lanka travel show planned in Canada
Sept 27, 2011 (LBO) – A travel show to boost tourism to Sri Lanka wil be held in Toronto, Canada where the bulk of existing tourist traffic is now directed to India and the Maldives, its organizers said. “There is a lack of packages to Sri Lanka with travel agents in North America compared to […]
Sri Lanka to start e-visa for 78 countries
Sept 27, 2011 (LBO) – Sri Lanka will start electronic visa approval for 78 countries with a online portal being opened after September 30, but Singapore and Maldives nationals will continue to be given on arrival visas at entry points, the island’s border agency said. The online visas could be applied through www.eta.gov.lk, Sri Lanka’s […]
‘s output
Sept 27, 2011 (LBO) – Sri Lanka’s tea production is unlikely to match last year’s levels given a continuing decline in crops owing to bad weather, a broker said. “In the mid grown areas on the eastern side, Namunukula and Passara, and Linugalla, and on the western slopes Kandy, Matale, Kurunegala and Madulkelle have recorded […]
Insider Dealing
Sept 28, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said five employees of SMB Leasing, will be charged for insider dealing on the firm’s stock. The SEC said the employees had bought shares ahead of a rights and warrant issue by the company. Information on the rights issue had been made public on […]
Rare pre-historic footprints found in Mexico
MEXICO CITY, September 27, 2011 (AFP) – Footprints from early humans that are between 4,500 and 25,000 years old have been discovered in a remote area of northern Mexico, researchers said Monday. The five footprints set in stone “are among the few impressions of the first inhabitants in the American continent found in Mexico,” the […]
” needed on India trade deal
BRUSSELS, September 26, 2011 (AFP) – European Union trade commissioner Karel De Gucht warned Monday that a long-planned free-trade agreement between Europe and India is in trouble failing more “flexibility” from both sides. “We remain fully engaged on these negotiations,” the Belgian said after talks in Brussels among the EU’s 27 trade ministers. “But I […]
Sri Lanka July 2011 export earnings up 9.4%, tea down
Sept 27, 2011 (LBO) – Sri Lanka’s exports rose 9.4 percent to 958 million US dollars in July 2011 from a year ago although earnings from tea, its main agricultural export fell, the central bank said. Spending on imports shot up 58 percent to 1. 78 billion US dollars in July from the year before, […]
More stimulus wrong answer to crisis: Merkel
BERLIN, September 27, 2011 (AFP) – German Chancellor Angela Merkel hit back Tuesday at those, including the United States, urging Europe to introduce new economic stimulus packages to boost demand and spend its way out of the crisis. “We need to combine economic growth with solid public finances … we are not in favour of […]
Sri Lanka rule of law seen key factor in luring investors
Sept 27, 2011 (LBO) – Sri Lanka must ensure that rule of law is maintained especially in commerce if it wants to be considered attractive to foreign investors, an economist said. Indrajit Coomaraswamy, former director of economic affairs at the Commonwealth Secretariat in London, said foreign investment has not picked up as anticipated despite the […]
Sri Lanka bonds volatile, CB Treasuries top Rs50bn
Sept 26, 2011 (LBO) – Sri Lanka’s bond yields ended lower after seeing unusual volatility dealers said, while the rupee continued to be defended at 110.30 to the dollar in the spot market, dealers said. Sri Lanka’s interest rates have started to move after sustained defence of a dollar peg reduced excess liquidity in money […]