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‘s inflation leaps above 8.0%
NEW DELHI, January 14, 2011 (AFP) – India’s inflation rose again to 8. 43 percent in December, data showed Friday, as the government announced steps to curb food prices amid mounting public anger over the cost of living. The wholesale price index, used as the main measure for inflation in India, accelerated to 8.43 percent […]
Sri Lanka to sell pre-paid power: minister
Jan 13, 2011 (LBO) – Sri Lanka’s state run power utility, Ceylon Electricity Board is planning to sell electricity under a pre-paid tariff system, power minister Champika Ranawaka said. This will be a pre-paid system just like with the mobile phones,” minister Ranawaka told reporters. We will have to study it and introduce it within […]
Sri Lanka gets US$250mn from land sales to developers: minister
Jan 14, 2010 (LBO) – Sri Lanka is raising 250 million US dollars from the sale of two blocks of land to developers who will build hotels and shopping complexes near the main beachfront in the capital Colombo, a government minister said. Hong Kong based Shangri-La hotels and state-run China National Aero Technology Import and […]
Sri Lanka economic freedoms improve: think tank
Jan 14, 2011 (LBO) – Sri Lanka has improved its score in an economic freedom index for 2011 compiled by US based heritage foundation and the Wall Street Journal, but the increasing non-tarrif barriers and state expansion has dragged the score down. Sri Lanka improved its score by 2.5 points to 57.1 making it the […]
Sri Lanka stocks close up 0.1-pct
Jan 13, 2011(LBO) – Sri Lankan stocks closed 0.10 percent higher Thursday with active trading in the power sector and lot of retail driven participation, brokers said. The All Share Price Index closed at 7,021.88, up 0.10 percent (7.03 points) while the Milanka Price Index of more liquid stocks closed at 7,326.84, down 0.01 percent […]
Transport Secretary
Jan 13, 2010 (LBO) – Head of Sri Lanka’s Vallibel, Dhammika Perera has been appointed to the post of secretary of the transport ministry. Vallibel has interests in ceramics, power, banking, tourism and gaming. Perera said he got the letter of appointment on Wednesday and he will unveil plans to develop the country’s transport sector, […]
Floods force a million Sri Lankans from homes
January 13, 2011 (AFP) – Flooding in Sri Lanka has forced more than one million people out of their homes, the government said Thursday as it began distributing emergency food, clothing and bedding. At least 23 people have died during a week of monsoon floods, with the centre and east of the island worst hit […]
‘s capital cools to a 2-year low
Jan 13, 2011 (LBO) – A combination of a cloudy sky and a cold stream from Himalayas pushed temperature at Sri Lanka’s capital Colombo to a two year low of 18. 8 degrees on the Celsius scale on Thursday, the meteorological office said. “The average temperature for Colombo in the past 30 years has been […]
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 […]