Category:
‘s investment debate
Aug 23, 2010 (LBO) – An interesting public debate has sprung between the Central Bank and an opposition parliamentarian on the suitability of Bank’s investing EPF moneys in the shares of commercial banks. While the Central Bank is defending its action tooth and nail (http://www.cbsl.gov.lk/htm/english/02_prs/p_1.asp?yr=2010: Accessed on 22.8.2010), the opposition is charging that the Bank’s […]
Sri Lanka IMF programme on track, to get next tranche: official
Aug 23, 2010 (LBO) – An International Monetary Fund (IMF) mission to Sri Lanka said the island’s programme with the fund is on track with the government being able to meet the budget deficit target of eight percent of Gross Domestic Product. “End-June performance criteria on domestic budget borrowing, reserve money, and net reserves have […]
Indian film industry wants more awareness over film piracy
MUMBAI, August 22, 2010 (AFP) – Ashish is a senior executive in the financial sector in the home of Bollywood, Mumbai. He earns a good wage, lives in an upmarket neighbourhood and sees himself as a decent, law-abiding citizen. But like many Indians, the 49-year-old sees nothing wrong with buying the latest Hindi-language and Hollywood […]
Maldivian festival of ideas brings together artists, scientists
Aug 22, 2010 (LBO) – The Maldives plans to hold a festival bringing together international and local artists and experts from the fields of literature, art, science, drama, music and poetry in October this year. The event, billed as a festival of “ideas, conversations and fun” will celebrate “one of the world’s most hopeful new […]
Australia in political limbo after voters punish PM
SYDNEY, August 22, 2010 (AFP) – Australia was in political limbo Sunday after voters punished Prime Minister Julia Gillard for deposing her predecessor two months ago, leaving the nation facing its first hung parliament in 70 years. Both sides targeted marginal seats in resource-rich Queensland and western Sydney, where rapid population growth has put pressure […]
Maritime Links
Aug 21, 2010 (LBO) – India and Sri Lanka have prepared the draft of an agreement to resume ferry services across the narrow strip of water separating the two countries, the Indian envoy in Colombo said. “We’ve finalised the draft of the agreement,” Indian high commissioner Ashok Kantha said. “The two countries have in principle […]
Sri Lanka captain not guilty of physical contact
DAMBULLA, August 21, 2010 (AFP) – Sri Lanka’s captain Kumar Sangakkara did not breach the players’ code of conduct during a tri-series match against New Zealand, the world governing body said on Saturday. Sangakkara was pulled up by match referee Alan Hurst after he collided with Black Caps’ bowler Nathan McCallum while turning for a […]
”: officials
SYDNEY, August 21, 2010 (AFP) – Australia faced the “more and more likely” prospect of a hung parliament Saturday, with neither the government nor the opposition looking assured of an election majority, party officials said. Australia has not had a hung parliament since 1940, in the midst of World War II, but the election was […]
Sri Lankan stocks close down 0.10-pct
Aug 20, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from the weeks bull-run, while a large deal on Asian Alliance Insurance and high investor interest on John Keells Holdings (JKH) boosted turnover, brokers said. Commercial Bank closed at 191.00 rupees, down 60 cents (0.31 percent), Hatton National Bank closed […]
Sri Lanka gives more money to promote rice over wheat flour
Aug 19, 2010 (LBO) – Sri Lanka’s government is to spend 2. 5 billion rupees over the next three years to extend a programme to encourage rice cultivation and consumption and reduce wheat flour consumption, a spokesman said. Rambukkwelle said the government wants to support the agriculture sector which it sees as a key factor […]
‘s booming middle classes unmasked in new study
NEW DELHI, August 19, 2010 (AFP) – They are every marketeer’s dream and the future of the world economy — now Asia’s aspirational middle classes have been laid bare in a major new study focusing on their astonishing growth. The Asian Development Bank forecast in the research released Thursday that over the next two decades […]
Sri Lanka shell company bought by Malaysian firm
Aug 20, 2010 (LBO) – Malaysia’s Fly Asia has bought a 70 percent stake in Sri Lanka’s Infrastructure Developers (IDL), essentially a loss-making shell company listed on the Colombo bourse, a stock exchange filing said. Fly Asia, an air transport company which operates air services and builds aerodromes, has made a mandatory offer for the […]