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‘s feuding billionaire Ambani brothers call a truce
MUMBAI, May 23, 2010 (AFP) – India’s warring billionaire Ambani brothers, who have battled in court over gas supplies, on Sunday called a truce and scrapped their contentious business pacts signed in 2006. Reliance Industries, led by Mukesh Ambani, and Reliance ADAG, led by Anil Ambani, pledged in a statement to create “an environment of […]
Sri Lanka-India firms should mull JVs: official
May 24, 2010 (LBO) – Indian and Sri Lankan companies should consider joint ventures that could make use of resources in both countries under a free trade deal between the two neighbours, a senior official said. Sarath Amunugama, deputy minister of finance and planning, said the 10-year free trade agreement should be deepened and expanded […]
Sri Lanka defeat New Zealand in second US Twenty20 clash
FORT LAUDERDALE, May 23, 2010 (AFP) – Sri Lanka beat New Zealand by seven wickets in the second of two Twenty20 matches on Sunday, part of international cricket’s historic attempt to break into the US market. Sri Lanka had lost Saturday’s opening game of the series, which marked the first cricket games on US soil […]
US to increase non-immigrant visa fees
May 24, 2010 (LBO) – Application fees for US non-immigrant visas will increase on June 4, 2010, the US embassy in Colombo said in a statement. Application fees for the business (B1), tourist (B2), student (F), and exchange visitor (J) visas, those most often applied for by travelers, will have a “modest increase” to 140 […]
Persian Prop
May 24, 2010 (LBO) – Iran may provide Sri Lanka a loan of 1. 5 billion US dollars to double the capacity of the island’s sole oil refinery to 100,000 barrels a day, a media report said. The earlier understanding was for us to come up with 30 percent, but Iran may come in to […]
Only tiny fraction of oil spilled will ever be recovered
VENICE, May 23, 2010 (AFP) – Despite a massive cleanup effort, experts warn that only a tiny fraction of the oil spewing into the Gulf of Mexico from the wreckage of a BP-leased rig will ever be recovered. “The oil is out there and it’s out there to stay,” said Lisa Suatoni, a marine biologist […]
Egypt and Pakistan to boost trade
CAIRO, May 23, 2010 (AFP) – Pakistani Foreign Minister Shah Mehmood Qureshi said on Sunday that his country plans to boost trade with Egypt, during a visit to Cairo where he met with President Hosni Mubarak. Qureshi, who was accompanied on his trip by several ministers and a large delegation of businessmen, praised the “excellent” […]
US Abbott buys Indian pharma unit for 3.7 billion dollars
MUMBAI, May 22, 2010 (AFP) – US healthcare group Abbott Laboratories has announced a 3. 7 billion-dollar buyout of the generic drugs unit of India’s Piramal Healthcare, as it moves to boost its presence in emerging markets. Abbott, which announced the acquisition in a statement late Friday, said the deal would make it the leading […]
South Korea, China, Japan agree to work on trade pact
SEOUL, May 23, 2010 (AFP) – South Korea, China and Japan’s trade ministers have agreed to work towards creating a free-trade region grouping their three countries, according to a joint statement issued Sunday. The three ministers confirmed they would complete within two years a feasibility study on creating the trade bloc, said the statement issued […]
Survivors tell of miracle escape from Indian air crash
BANGALORE, May 22, 2010 (AFP) – Some of the seven survivors who crawled or were carried from the burning remains of a plane that crashed in India on Saturday told of their escape amid scenes of horror and death. At least 159 people died after the plane overshot the runaway and plunged down a steep […]
Controversial umpire review system gets World Cup nod
LONDON, May 21, 2010 (AFP) – Cricket’s controversial umpire decision review system (DRS) will be used at the 2011 World Cup despite the technology causing splits amongst players. The International Cricket Council (ICC), meeting at Lord’s on Friday, also decided that the DRS should be introduced as soon as possible in all Test series. “The […]
Fiscal discipline urged to cure market ills
BERLIN, May 22, 2010 (AFP) – The head of Europe’s central bank and Pope Benedict XVI Saturday laid into governments for a lack of financial rigour, after investors battered the euro over fears of unsustainable debts. With the euro having plunged to a four-year low against the dollar in the past week, ECB chief Jean-Claude […]