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India jets order boosts ailing Russian defence industry
MOSCOW, October 9, 2010 (AFP) – Russia’s ailing defence industry has received one of its biggest boosts in years with a huge fighter jet deal with India, but much of the sector remains stuck in a Soviet-era time warp, analysts said. Moscow is in the race for a contract to supply New Delhi with 126 […]
Sri Lanka state sell-down proposals spell new direction
Oct 09, 2010 (LBO) – Planned sell-downs of two state enterprises charts a new direction in Sri Lanka’s post-war economic strategy that can make state firms more transparent and also boost capital markets, analysts said. During the year the firm had given back 4,000 billion rupees to the parent in a share-buy back, which earned […]
Sri Lankan stocks close up 0.93-pct
Oct 08, 2010 (LBO) – Sri Lankan stocks recovered from a four day fall Friday on buying interest in midcap stocks, while index heavy weight John Keells Holdings (JKH) continued to slide, brokers said. The All Share Price Index closed at 6,833.61, up 0.93 percent (62.87 points), while the more liquid Milanka index rose 0.72 […]
Road Moves
Oct 08, 2010 (LBO) – Sri Lanka’s Road Development Authority has commissioned the Moratuwa University to do a study on the island’s future requirements for expressways and connections with the existing road network, an official said. Road Development Authority chairman Ranjith Premasiri said the survey, being done by transport and logistics experts at the university, […]
Sri Lanka tourist arrivals up 24.6-pct in Sept 2010
Oct 08, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 24. 6 percent to 47,339 people in September 2010 from a year ago, driven by sharp increases from traditional European markets, tourism office data showed. The island’s peak tourism season coincides with the northern hemisphere winter. In the January-September 2010 period, tourist arrivals were […]
Sri Lanka govt to import chicken, eggs
Oct 08, 2010 (LBO) – The Sri Lankan government is to import chicken and eggs during the traditional festive seasons in November-December and the traditional new year in April, according to a Cabinet decision. The import programme is to be reviewed monthly. Sri Lanka imposed price controls on chicken and also pushed up import duties […]
Better Marks
Oct 08, 2010 (LBO) – Fitch Ratings has upgraded Sri Lanka’s Dialog Axiata’s (Dialog) national long-term rating to ‘AAA(lka)’ from ‘AA(lka)’, and revised the outlook to stable from negative, a statement said. This is to help mitigate potential currency risk on the scheduled repayments of its US dollar debt, which fall due between 2011 and […]
Sri Lanka national carrier to list flight kitchen
Oct 08, 2010 (LBO) – Sri Lanka’s state-run national carrier SriLankan Airlines is planning to divest a part of its fully owned catering unit through a public listing, Chairman Nishantha Wickramasinghe said. Earlier this week the government said it will divest a 49 percent stake in a gas distributor it planned to buy back from […]
Sri Lanka to liberalise civil aviation
Oct 08, 2010 (LBO) – Sri Lanka is to further liberalise its civil aviation sector and remove flying restrictions with the end of its ethnic war, an official said. The private sector will be given more opportunities to operate hot air balloons, float planes and helicopters, the Civil Aviation Authority director-general H M C Nimalsiri […]
Bangladesh apparel exports surge as EU buyers shift from Sri Lanka: report
Oct 08, 2010 (LBO) – Bangladesh’s exports of apparel are surging beyond projections as buyers from the European Union shifted orders ahead of Sri Lanka losing preferential duty concessions, a media report said. Sri Lanka has exported 268.1 million US dollars of apparel in July 2010, down 11 percent from 301.3 million US dollars a […]
Australia renews push for regional immigration centre
SYDNEY, October 8, 2010 (AFP) – Australia will urge Indonesia, Malaysia and East Timor to back its proposal for a regional centre to process asylum-seekers during talks next week, Immigration Minister Chris Bowen said Friday. Bowen, who will leave Monday for Dili to begin high-level discussions on people-smuggling and border security in the three countries, […]
Canada to unveil law to deter illegal migrants
OTTAWA, October 7, 2010 (AFP) – Canada’s Prime Minister Stephen Harper said Thursday his government would soon unveil a law to deter illegal immigration in response to the arrival of rickety cargo ships carrying Tamil refugees. Harper said current legislation does not go far enough to deter human smuggling, which “will increase in the years […]