Category:
Bus Loss
Apr 15, 2010 (LBO) – Sri Lanka’s state bus service had lost 5,183 million rupees in 2009 despite getting another 4,135 million rupee handout in peoples’ money from the Treasury for operating ‘uneconomic routes’, the latest official data reveals. SLTB data showed that its workforce had increased to 35,895 in 2009 from 34,074 in 2008. […]
Banking Reach
Apr 15, 2010 (LBO) – Commercial banks are opening branches in Sri Lanka’s former war zone in the north and east and are also ready to increase lending to the region, the Central Bank said. “Several licensed banks are showing keen interest to facilitate economic activities in the Northern and Eastern provinces,” it said in […]
India inflation nears double-digits, rate hike seen
NEW DELHI, April 15, 2010 (AFP) – India’s inflation rate crept closer to double digits, official data showed Thursday, as analysts forecast another hike in interest rates to contain prices in Asia’s third-largest economy. Year-on-year wholesale price inflation, India’s main cost-of-living measure, edged up to 9.9 percent in March from 9.89 percent the previous month, […]
US urges respect for human rights in Sri Lanka
April 15, 2010 (AFP) – US Secretary of State Hillary Clinton has urged Sri Lanka to respect human rights and heal its communal divisions as the island emerges from decades of ethnic bloodshed. In a message marking Sri Lanka’s New Year and released by the US embassy in Colombo on Thursday, Clinton said the government […]
Sri Lanka gets $150mn ADB emergency loan
Apr 15, 2010 (LBO) – The Asian Development Bank (ADB) said it is providing 150 million US dollars in an emergency loan to Sri Lanka for projects to help people in the war-ravaged north and east. The loan will have a 32-year repayment term, including a grace period of eight years and an annual interest […]
”’ economic recovery
WASHINGTON, April 15, 2010 (AFP) – Federal Reserve chief Ben Bernanke warned on Wednesday the US economy will recover at a “moderate” pace and that significant time will be needed to claw back jobs lost in the recession. In cautious remarks that belied Wall Street’s gathering optimism, Bernanke cautioned that the US economy continued to […]
Caught
MIAMI, April 13, 2010 (AFP) – US police backed by helicopter units swooped on a group of illegal immigrants smuggled in from the Bahamas, arresting 15 from Haiti, Jamaica and Sri Lanka, smuggled in by sea by Cubans, authorities and local media said Tuesday. The Bahamas are a frequent stopover point for human trafficking operations […]
India plans launch sale of 4G mobile services: report
NEW DELHI, April 14, 2010 (AFP) – India plans to hold an auction of ultra-high-speed fourth-generation (4G) mobile phone spectrum soon after completion of 3G access now underway, a report said Wednesday. It will also heat up the battle for customers in the world’s fastest-growing mobile market. The Telecom Regulatory Authority of India (TRAI) has […]
Iran to buy more Sri Lankan tea: government
April 14, 2010 (AFP) – Iran plans nearly to double its purchase of Sri Lankan tea, the island’s main export commodity, Sri Lanka’s government said Wednesday, announcing a move that could boost tea prices. Sri Lanka’s tea promotion board said they expected the Iranian move to further strengthen prices, which have risen by 29. 47 […]
” petroleum price formula: Central Bank
April 14, 2010 (LBO) – Sri Lanka needs a price formula to match import costs to retail prices as a part of a reform of the energy sector, the Central Bank said as the state petroleum utility lost 12. 3 billion rupees in 2009. “A realistic pricing formula needs to be developed to price petroleum […]
‘s Tata Tea in joint-venture talks
NEW YORK, April 12, 2010 (AFP) – US soft-drinks and snacks giant PepsiCo and India’s Tata Tea will explore the formation of a joint venture in “healthy” non-carbonated beverages, the companies said in a statement received Monday. “More details will only be available once the definitive agreements for the joint venture are finalized and executed, […]
Sri Lanka state power, petroleum utilities could be listed: Central Bank
Apr 13, 2010 (LBO) – Units of Sri Lanka’s state petroleum and power utilities could be listed in the Colombo Stock exchange to broad base their ownership and make them more transparent and accountable, the Central Bank has said. Last year the state-run Ceylon Petroleum Corporation had lost 12. 3 billion rupees partly due to […]