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Sri Lanka blamed for serious security lapse at South Asian summit
August 07, 2008 (AFP) – India said there had been serious security lapses during a visit to Sri Lanka by Prime Minister Manmohan Singh despite the island nation’s promise of “ultimate security.” The Sri Lankan bodyguard assigned to protect Singh did not turn up during a regional summit last weekend, while the motorcade for India’s […]
Sri Lanka business chamber touts virtues of Indian trade deal
Aug 07, 2008 (LBO) – A Sri Lankan business chamber has said the proposed new trade deal with India would give businesses an opportunity to penetrate the rapidly expanding Indian market and offer protection against trade barriers.The Ceylon Chamber of Commerce said it welcomes the expansion of the current Free Trade Agreement (FTA) with India […]
India completes key trade road in Afghanistan
KABUL, August 07, 2008 (AFP) – India has almost completed a key road linking Afghanistan to Iranian sea ports despite Taliban attacks that claimed more than 100 lives in two years, the deputy public works minister said.The 217-kilometre (134-mile) route connects a nearly completed ring road around Afghanistan to the Iranian port cities of Bandar-i-Abas […]
German insurer Allianz warns on profits after weak second quarter
FRANKFURT, August 7, 2008 (AFP) – Shares in the German insurance group Allianz plunged on Thursday after the group warned that it would not reach its operating profit target going into 2009 following a difficult second quarter.Allianz shares showed a loss of 3.52 percent to 109 euros in initial trading on the Frankfurt stock exchange […]
US, UN condemn military coup in Mauritania
WASHINGTON, August 6, 2008 (AFP) – US Secretary of State Condoleezza Rice on Wednesday condemned the military coup in Mauritania and called for the release of the African country’s president and prime minister. “The United States condemns the Mauritanian military’s overthrow of the democratically elected Government of Mauritania and welcomes the statements by the African […]
Names to look out for at Beijing Games
PARIS, Aug 07, 2008 (AFP) – AFP Sports Service has chosen a selection of athletes who could be grabbing the headlines during the Beijing Olympics. Here is Part One: ATHLETICS Muna Lee (USA): Two weeks after her car was struck by a drunken driver and her shoulder was hurt, this thin 27-year-old speedster known more […]
Sri Lanka government 2009 budget bill to parliament on Oct 9
Aug 07, 2008 (LBO) – The appropriation bill for Sri Lanka’s budget for 2009 will be presented to parliament on October 9 for its first reading, the government said Thursday. The budget speech and second reading of the budget will be on November 6, a government spokesman said. The cabinet this week approved a proposal […]
Sri Lanka debt markets still to show full potential: expert
Aug 06, 2008 (LBO) – A veteran fixed income specialist says Sri Lanka’s debt market has still to show its full potential though it is 15 years since the first commercial paper was issued in the island. The first commercial paper was issued by John Keells Holdings and Aitken Spence, with a guarantee from state-run […]
Sri Lanka IOC unit gains on earnings outlook as oil prices fall
Aug 06, 2008 (LBO) – Stocks closed higher Wednesday with the indices lifted by gains in the Sri Lanka unit of Indian Oil Corp as lower crude oil prices improved its earnings outlook, brokers said. Dialog Telekom was flat at 13.50. All plantations shares ended stronger after the island’s tea exports and earnings hit record […]
At Sea
Aug 06, 2008 (LBO) – A new International Labour Organisation maritime convention that Sri Lanka is to ratify will improve the safety, efficiency and working conditions of seafarers, officials said. The ILO maritime labour convention, also known as a ‘bill of rights’ for seafarers has an enforcement system that will prevent their exploitation by owners […]
Southern Sri Lanka shaken by earth tremor
Aug 06, 2008 (LBO) – Southern parts of Sri Lanka were shaken by minor tremors, early on Wednesday morning, and investigations are underway to find the cause, an official said. The tremors were felt in Tangalle, Beliatte, Ranna and Kudawella, in Sri Lanka’s southern province by residents around 5.45 to 5.50 am local time, JNW […]
Maldives heads for democracy amid political intrigue
August 06, 2008 (LBO) – Maldives is set to ratify a new constitution this week which will bring multi-party democracy the Indian Ocean tourist paradise, but the archipelago’s politics are already tainted with allegations of bribery amid fears of a constitutional crisis.Under that, an Elections Commission must be formed within 30 days, a Supreme Court […]