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Sri Lanka floods toll hits 18
January 12, 2011 (AFP) – At least 18 people have died and nearly one million have been made homeless by flooding in Sri Lanka after days of heavy rains, officials said Wednesday. Central and eastern regions of the island have been worst hit by the monsoon rains, with frequent mudslides and rising water levels. Continuing […]
BlackBerry says Indian security fears answered
NEW DELHI, January 13, 2011 (AFP) – The Canadian maker of BlackBerry said Thursday it had found a way out of an ongoing standoff in India over allowing security agencies access to the smartphone’s encrypted messaging service. However, the solution did not include providing access to corporate e-mail services, Research In Motion (RIM) said in […]
Sri Lanka Senok group to start chopper service
Jan 13, 2010 (LBO) – Sri Lanka’s Senok group of companies has been given the nod to start a domestic helicopter service, a top official said as the country recovers from the end of a long drawn out war and tourism is taking off. Director general of Sri Lanka’s civil aviation authority H M C […]
Sri Lanka can loosen monetary policy amid fiscal tightening: economist
Jan 14, 2010 (LBO) – Sri Lanka could loosen monetary policy if it is balanced by tightening fiscal policy to manage inflation, a senior World Bank economist said South Asian nations struggled with large deficits and high inflation from past loose policy. Sri Lanka has a pegged exchange rate where the country’s inflation is externally […]
World Bank sees 2008 risks for global economy
WASHINGTON, January 13, 2011 (AFP) – The World Bank warned Wednesday the global economy could return to the dark days of the 2008 crisis, with slowing growth and rising commodity prices. After the recession in 2009 and the 2010 rebound, the multilateral institution said, 2011 is expected to be a year of deceleration. In its […]
Sri Lanka Treasuries yields eased
Jan 12, 2011 (LBO) – Sri Lanka’s Treasury bill yields fell across maturities at Wednesday auction following 25 basis point rate cut a day earlier. The debt office said it accepted 11,000 million rupees of bids from the auction. The yield on 3-month bills fell 17 basis points to 7. 07 percent the government’s debt […]
Sri Lanka stocks close up 0.3-pct
Jan 12, 2011(LBO) – Sri Lankan stocks closed 0. 3 percent higher Wednesday with Colombo’s benchmark index topping the 7,000 mark, brokers said. Over 3.8 million Odel shares changed hands and the stock closed at 49. 50, up 1.90 while index heavy John Keells Holdings closed at 295.10, up 0.10 cents with over 625,000 done. […]
Sri Lanka tourist arrivals up 46.1-pct in 2010
Jan 12, 2011 (LBO) – Sri Lanka’s tourist arrivals in December 2010 rose 48. 8 percent to 84,627 from a year earlier, driven by sharp increases from traditional European markets seen due to the winter season, official data showed. Tourists from Denmark, Finland and Sweden saw increases of over one hundred percent during the month. […]
Normal Rule
January 12, 2011 (AFP) – Sri Lanka’s opposition Wednesday demanded an end to emergency law ahead of local elections in March, saying there was no reason for restrictions two years after the end of the island’s conflict. More than 300 municipal, urban and village councils will be elected in March for the first time since […]
Sweeping Raids
GENEVA, January 11, 2011 (AFP) – Swiss police Tuesday raided several properties and arrested ten Tamil Tiger rebels, accusing them of involvement in a criminal group as well as money laundering, the attorney-general’s office said. “To disguise the true origin of the funds, they were invested in companies with connections to the LTTE conducting legal […]
Sri Lanka shares end up 1.1-pct
Jan 11, 2011(LBO) – Sri Lankan stocks closed close up 1.1 percent Tuesday with active retail trading, brokers said. The All Share Price Index closed at 6,992.71, up 1.1 percent (75.86 points) while the Milanka Price Index of more liquid stocks closed at 7,314. 70, up 0.45 percent (32.75 points) according to stock exchange provisional […]
Toyota unveils family of Prius hybrids
DETROIT, January 10, 2011 (AFP) – Toyota unveiled new siblings for its popular Prius hybrid Monday, introducing a brand new midsized wagon, a plug-in, and a compact Prius at the Detroit auto show. The family was launched as Toyota struggles to rebuild its once-stellar reputation after it was rocked by a series of mass recalls […]