Category:
Rural Credit
Sept 09, 2010 (LBO) – Branches of state banks in Sri Lanka’s war-torn northern and eastern areas topped the lists for giving loans under central bank supported credit schemes for rural agriculture development. Central Banks in high inflation countries including Zimbabwe have engaged in such quasi-fiscal activities starting many agriculture credit schemes. Central Bank ‘re-finance’ […]
Sri Lanka to get weekly tourist flights from Brussels
Sept 09, 2010 (LBO) – Weekly charter flights are to be launched between Brussels and Sri Lanka bringing Belgian and other European tourists from October 31, Jean Deboutte, Ambassador of Belgium to Sri Lanka said. Sri Lanka’s Ambassador to Belgium Ravinatha Aryasinha told the meeting the weekly charter flights will be by Jetair, a leading […]
Knowledge Forum
Sept 09, 2010 (LBO) – Academics and officials in Sri Lanka’s northern Jaffna peninsular has debated ways to transform the agrarian and fisheries area to a knowledge-based economy with better education, a think has said. He had said that that though Jaffna (North in general) is endowed with limited natural resources (‘moola valam)’ it is […]
Rural India remains beyond reach of Internet: study
NEW DELHI, September 8, 2010 (AFP) – Barely one percent of rural Indians use the Internet, a new study has calculated, despite a rapid recent boom in web access across the country. About 5.4 million of an estimated 570 million rural Indians are active Internet users, said the Internet and Mobile Association of India (IAMAI). […]
Sri Lanka ministers hails new powers for president
September 9, 2010 (AFP) – Sri Lankan ministers on Thursday denied that the president now enjoyed dictatorial powers under a post-war constitutional revamp, but observers worried about the chilling effect on democracy. The national parliament voted in favour of the 18th amendment to the 1978 constitution on Wednesday, scrapping a two-term limit on the presidency […]
Sri Lankan stocks close up 1.32-pct
Sept 08, 2010 (LBO) – Sri Lankan stocks rallied and passed the 5,900 points mark Wednesday, from price gains on index heavy John Keells Holdings (JKH), Hatton National Bank (HNB), Commercial Bank and Distilleries Company, brokers said. The All Share Price Index closed at 5,962.62, up 1.32 percent (77.63 points) while the more liquid Milanka […]
Rate Trends
Sept 08, 2010 (LBO) – Sri Lanka’s central bank does not see a need to cut rates next week, following two rates cuts over two months, a media report has suggested. In 2009 private credit shrank as the government ran a deficit of around 10 percent of gross domestic product. The government has promised to […]
Bangladesh exports soar as orders shift from China: industry
DHAKA, September 8, 2010 (AFP) – Bangladesh said Wednesday exports leapt more than 25 percent year on year in July, with manufacturers linking the jump to a shift in orders from China to the low-cost South Asian country. In July, the first month of its financial year, Bangladesh shipped 1.82 billion dollars of goods — […]
” says watchdog head
NEW DELHI, September 8, 2010 (AFP) – Almost one-third of Indians are “utterly corrupt” and half are “borderline”, the outgoing head of the country’s corruption watchdog has said, blaming increased wealth for much of the problem. Pratyush Sinha, who retired as India’s Central Vigilance Commissioner this week, said the worst part of his “thankless job” […]
” in South Asia
NEW DELHI, September 7, 2010 (AFP) – China is seeking to expand its influence in South Asia and gain a “foothold” in the region, Indian Prime Minister Manmohan Singh said in remarks published Tuesday. “China would like to have a foothold in South Asia and we have to reflect on this reality,” Singh was quoted […]
‘s Spice Jet from Oct
Sept 08, 2010 (LBO) – India’s Spice Jet, the country’s second largest budget carrier, will start flying to Sri Lanka daily from Chennai from October 09, after the airline received official nod to start international services. The airline is selling online a Colombo – Chennai ticket at 5,098 rupees and Chennai – Colombo ticket at […]
Air fares up as Asian travel rebounds from recession
SINGAPORE, September 8, 2010 (AFP) – Asia-Pacific airlines are raising ticket prices as travellers return in their droves after holding back on their travel plans last year because of the global recession. A strong economic rebound, led by China, has resulted in carriers filling more seats during the summer holidays and demand should remain robust […]