Category:
India plans to welcome foreign universities: report
NEW DELHI, July 23, 2009 (AFP) – The world’s leading universities such as Harvard and Yale could soon be allowed to open colleges in India under new legislation proposed by the government, a report said Thursday.India has a severe shortage of higher education institutions and a booming population with more than 30 percent of its […]
‘s Bharti profits jump 24 pct, still in MTN merger talks
NEW DELHI, July 23, 2009 (AFP) – India’s top mobile company, Bharti Airtel, reported Thursday that first-quarter net profit jumped 24 percent and said it was still in merger talks with South Africa’s flagship MTN cellular group.Bharti said net profit for the three months to June 30 rose to 25.17 billion rupees (526 million dollars) […]
Pakistan eye face-saving win in final Test
July 23, 2009 (AFP) – Pakistan remained on course to win the third and final cricket Test against Sri Lanka after denting the home team’s chase of a world record target on Thursday.Sri Lanka, set an improbable 492 to sweep the series 3-0 after they had won the first two Tests, were 183-3 in their […]
Sri Lanka IMF loan slammed by rights body
July 23, 2009 (AFP) – Human rights campaigners on Thursday described a 2.5 billion dollar loan to Sri Lanka by the International Monetary Fund as “a reward for bad behavior”.Human Rights Watch said the IMF should have set conditions on the loan, including demands that the Sri Lankan government help re-settle nearly 300,000 Tamil civilians […]
Sri Lanka may get US$300mn from new ADB fund: report
July 23, 2009 (LBO) – Sri Lanka may get a 300 million US dollar loan from Asian Development Bank new facility to help stimulate slumping economies in the region, a media report said. A 30-year internal conflict ended after the military wiped out Tamil Tiger separatists in May. “Sri Lanka is in an extremely favorable […]
Sri Lanka has permitted IMF to publish bailout program: minister
July 23, 2009 (LBO) – Sri Lanka has authorized the International Monetary Fund to publish its stand by loan agreement with the island, after it is approved by the lender’s executive board Friday, international trade minister Gamini Pieris said.Under the new stand by arrangement Sri Lanka’s central bank will have access to 2.5 billion US […]
Sri Lanka international airport plans expansion
July 23, 2009 (LBO) – Sri Lanka’s sole international airprot has plans to expand further if traffic grows beyond existing capacity with the end of a three decade internal war, a senior official said. But he said in the post-war environment demand for aviation will grow. “Aviation is very sensitive to war and also very […]
Sri Lanka Treasuries yields fall across maturities on IMF loan
July 22, 2009 (LBO) – Sri Lanka’s Treasuries fell across maturities at Wednesday’s auction with the 3-month yield falling 26 basis points to 10.79 percent, the government’s debt office said.In the first four months of the year, Sri Lanka had already run a 4.0 percent of GDP deficit, putting the country on a path to […]
Sri Lanka shares up, Lanka Cement draws interest
July 22, 2009 (LBO) – Sri Lankan shares ended firmer Wednesday, still riding the momentum generated by the government clinching a 2.5 billion dollar International Monetary Fund loan, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index rose 0.47 percent (11.71 […]
Northern Links
July 22, 2009 (LBO) – Sri Lanka has drawn up plans to rebuild shattered road networks in the north and east costing over 750 million dollars for which it is seeking foreign funding, a senior government official said.The projects include highways linking the northern Jaffna peninsula with the south, two circular roads around the peninsula […]
Target Date
July 22, 2009 (LBO) – Millicom International Cellular, the parent of Sri Lanka’s Tigo celco, would complete the sale of its Asian operations by the first quarter of 2010, chief executive Mikael Grahne has said.“The disposal of our Asian assets is in progress and expression of interest have been received from a number of parties […]
Kalashnikov demand soars with violence in NW Pakistan
PESHAWAR, July 22, 2009 (AFP) – The price of a Kalashnikov assault rifle is soaring as militant groups and private militias mushroom in an increasingly battle-torn northwest Pakistan, arms dealers and buyers say. Civilians too, frightened by the upsurge in violence and citing a lack of government protection, are also forking out to arm themselves […]