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Nobel laureate Yunus in Bangladesh court
DHAKA, January 18, 2011 (AFP) – Nobel peace prize winner Muhammad Yunus appeared in a Bangladesh court on Tuesday in a defamation case dating back to 2007, posing further legal problems for the microfinance pioneer in his homeland. Last week, the government ordered a probe into Yunus’s Grameen Bank, with which he shared the Nobel […]
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LONDON, January 18, 2011 (AFP) – Britain has asked India to waive diplomatic immunity for a senior diplomat following reports that he assaulted his wife at their London home, the Foreign Office said Tuesday. Police were called to the home of the envoy, named by media as Anil Verma, last month following reports of a […]
Sri Lanka floods will not need a monetary response: CB Governor
Jan 18, 2011 (LBO) – Sri Lanka’s recent floods will have minimal impact on long term inflation and will not need a monetary response but there will be ‘some economic impact’ from crop losses, Central Bank Governor Nivard Cabraal said. Large swathes of rice fields in Sri Lanka east and north central areas went under […]
Sri Lanka flood victims protest over food aid
January 18, 2011 (AFP) – Hundreds of flood victims in Sri Lanka besieged a district office in the eastern town of Kathankudi complaining about unfair distribution of emergency food aid, police said Tuesday. Local media reports said three civil servants were hospitalised after being attacked by the furious crowd, but police said they were unable […]
Sri Lanka IPO debuts at high premium; stocks lower
Jan 17, 2011(LBO) – Sri Lankan stocks closed lower Monday but a Singer Finance debuted on the floor at over three times is initial public offer of 15 rupees brokers said. The All Share Price Index closed at 7,008.06, down 0.35 percent (-24.54 points) while the Milanka Price Index of more liquid stocks closed at […]
Credit Trends
Jan 17, 2011 (LBO) – Credit to private citizens from Sri Lanka’s commercial banks rose 23. 1 percent in November 2010 from a year earlier, while credit to government also rose at a slower 10. 8 percent, official data showed. In November banks loaned 46.3 billion rupees to private borrowers, down slightly from 51. 4 […]
Local Clearing
Jan 17, 2011 (LBO) – Sri Lanka will set up a common automated teller machine and payment card switch that will process transactions locally, eliminating the need for international routing of transactions between different banks, an official said. “Any firm registered outside Sri Lanka should have a local partner at the time of forwarding the […]
Sri Lanka warns of high food prices after floods
January 17, 2011 (AFP) – Sri Lanka warned Monday that food prices could shoot up after devastating floods in the north and east of the country destroyed rice and vegetable crops. Disaster Management Minister Mahinda Amaraweera said vegetable prices had already been affected because of the impact on growing areas that were swamped by unusually […]
Sri Lanka reschedule West Indies ODIs
January 16, 2011 (AFP) – Sri Lanka will host its rescheduled one-day series against the West Indies starting at the new Hambantota stadium in the island’s south on January 31, officials said Sunday. Heavy rains in December forced the series to be scrapped. The games were to be played across the three World Cup venues […]
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WASHINGTON, January 16, 2011 (AFP) – China’s President Hu Jintao said Sunday the international currency system was “a product of the past,” but it would be a long time before the yuan is accepted as an international currency. Asked about the view that appreciation of the yuan would curb inflation in China, Hu suggested that […]
Pirate Action
SEOUL, January 15, 2011 (AFP) – Suspected Somali pirates hijacked a South Korean-operated cargo ship with 21 crew on board in the Indian Ocean on Saturday, South Korean and European officials said. The 300,000-tonne Samho Dream and its 24 crew — five South Koreans and 19 Filipinos — were released only after a ransom reported […]
Sri Lanka mine fears as floods recede
January 16, 2011 (AFP) – Unexploded mines planted during Sri Lanka’s Tamil separatist war may have shifted during recent floods, officials said Sunday, as residents started to return to their badly-damaged homes and farms. More than one million people were initially displaced in the flooding, with the east of the island worst affected by a […]