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Sri Lanka sewers to be rebuilt with ADB aid
Dec 03, 2009 (LBO) – Sri Lanka is to get a loan of 100 million dollars from the Asian Development Bank (ADB) to modernise the sewerage system in the capital Colombo and its suburbs.A government statement said the project will improve the urban environment and public health for about 1.5 million urban and suburb residents […]
In Taiwan, bird catchers turn bird watchers
TAIPEI, December 3, 2009 (AFP) – When Yeh You-chin was a boy half a century ago, he ate migratory birds with relish, but now he is at the forefront of efforts to preserve the feathered visitors to his south Taiwan home. Yeh, the 59-year-old chief of Fangshan township, recently opened an exhibition hall devoted to […]
India food inflation soars 17 percent
December 3, 2009 (AFP) – Food inflation in India soared by over 17 percent in the 12 months ending November 21, official figures showed Thursday, raising pressure on the central bank to tighten monetary policy.Earlier most economists were betting that the first rate rise would come in April. The food price index climbed 17.47 percent […]
‘s debate over inflation 2: The folly of price cuts
Dec 03, 2009 (LBO) – In a bid to relieve the public of rising cost of living, the Government has reduced the import duties of ten leading food items and expected the market too to slash the prices. Artificial price reductions too lure central banks to an unwarranted complacency because the price indices on which […]
Sri Lanka to build small solar plant with Japanese aid
Dec 03, 2009 (LBO) – The Japanese government will give Sri Lanka a grant of 860 million yen or just over a billion rupees to build a 400 kiloWatt demonstration solar power plant which will be connected to the national grid.The solar project will be implemented by the Sri Lanka Sustainable Energy Authority under the […]
‘s 284 not out floors Sri Lanka
MUMBAI, December 3, 2009 (AFP) – Virender Sehwag smashed a scintillating unbeaten double century as India turned the tables on Sri Lanka in the third and final cricket Test on Thursday.Sehwag made 284 not out to lift the hosts to 443-1 by stumps on the second day at the Brabourne stadium in reply to Sri […]
Sri Lanka central bank lashes out at exporters engaging in policy debate
Dec 03, 2009 (LBO) – Sri Lanka’s central bank has lashed out at exporters who engaged in a policy debate on the island’s exchange rate saying they were “partisan” and were “driven by personal interests”, unlike its own stance which was “professional”. The Central Bank has been under fire for creating high inflation from 2004, […]
Bernanke to face stormy confirmation hearing
WASHINGTON, December 3, 2009 (AFP) – Lawmakers are likely to vent frustration over the economy and bailout of the financial system Thursday at a Senate confirmation hearing for Federal Reserve chairman Ben Bernanke. The powerful central bank chief is nonetheless expected to win approval for a second four-year term from the Banking Committee and the […]
Sri Lanka rated telco market with highest regulatory risk
Dec 02, 2009 (LBO) – Sri Lanka has been rated the telecommunications market with the highest regulatory risk score in the Asia-Pacific region, according to a new survey by Fitch Ratings.It said Fitch’s Regulatory Risk Score provides an indication of how the regulatory environment impacts the ability of an operator to generate free cash flow […]
Sri Lanka private sector credit turns corner in Sept
Dec 02, 2009 (LBO) – Sri Lanka’s private sector credit started expanding in September 2009 ending eight months of contraction and the Central Bank says it would like to see more credit growth before tightening monetary policy.Growing private sector credit demand could also push risk free yields up as the risk appetite of banks increase. […]
Sri Lankan shares close up 1.33-pct on JKH sale
Dec 02, 2009 (LBO) – Sri Lankan shares closed up Monday boosted by the sale of 7.5 million John Keells Holdings (JKH) shares in an otherwise dull trading day, brokers said. The All Share Price Index closed at 2,952.16, up 1.33 percent (38.77 points) while the Milanka Price Index of more liquid stocks closed at […]
Sri Lanka tea farms mull irrigation to counter weather changes
Dec 02, 2009 (LBO) – Sri Lanka’s plantations need foreign investment for estate and factory modernisation, including irrigation to counter changing weather patterns, said Kumar Jayasuriya, chairman, James Finlay, Colombo. Regional plantation companies running the island’s tea estates could do with foreign investment in irrigating fields, to cope with changes in rainfall patterns which could […]