Category:
’07 Budget gap at 5% of GDP
November 8, 2006 (Dow Jones)–The Sri Lankan government expects the budget deficit to narrow to 5 percent of gross domestic product in 2007 from an estimated 9 percent this year due to higher tax collections and increased borrowings, the deputy finance minister said. “A key focus will be the small and medium scale industries.We plan […]
Sri Lankan branded tea exporter Imperial Teas eyes regional subsidiaries
Nov 08 (LBO) – Sri Lankan branded tea exporter Imperial Teas may look at setting up subsidiaries in countries like China and even Kenya, to develop its brands and manage its supply chain.The company commissioned a study by MTI Consulting to develop a game plan for expansion and jumpstart almost stagnant growth over the past three […]
Duped
Nov 8, 2006 (AFP) – C. Sathishkumar was one of thousands of Sri Lankan youngsters who invested in an Internet promotion to evaluate products online in return for quick cash — and like the others, he lost all his money.Police said this week that the scam, allegedly run by two Indians from a firm named […]
‘s farmers brace for new WTO era
HANOI, Nov 8, 2006 (AFP) – Vietnam’s WTO accession will impact on the 70 percent of its people who work in agriculture by securing key export markets but also threaten them with much tougher competition at home, experts say.“Vietnam’s joining the WTO is necessary and will help the country develop its agricultural sector more quickly […]
Sri Lanka among thousands abuse Malaysian visa deal: reports
KUALA LUMPUR, Nov 8, 2006 (AFP) – A visa-on-arrival deal aimed at attracting tourists to Malaysia had allowed thousands of foreigners to overstay in the country, reports said Wednesday.Under a move introduced on September 1, Malaysia has allowed tourists from 24 countries to apply for a visa upon arrival, for a fee of 100 ringgit […]
Shells fired at Norwegian observers in Sri Lanka
Nov 8, 2006 (AFP) – Norwegian observers in Sri Lanka were fired on by government forces during attacks on Wednesday which killed at least 65 civilians and injured about 300, Norwegian Aid Minister Erik Solheim told Norway’s NRK broadcaster. The conflict has killed more than 60,000 people since 1972, with rebels fighting for a separate […]
Refugee camp bombing kills 65 in Sri Lanka
Nov 8, 2006 (AFP) – At least 65 civilians were killed and about 300 injured Wednesday when government forces shelled a refugee camp in eastern Sri Lanka, Tamil rebels and medical sources said.The bodies of the victims were brought to the Vakarai hospital inside the rebel-held part of Batticaloa following heavy artillery duels, while the […]
SLT TV
November 6, 2006 (LBO) – Sri Lanka Telecom, the island’s biggest fixed line operator, said Tuesday that they are doing a due diligence study on cable television operator Grant Communications (Pvt) Ltd. The company, which controls 85 percent of Sri Lanka’s fixed-line telecommunications market, has applied for a ˜non-voice’ license from the telecom regulator and […]
India fires free trade salvo ahead of peace talks with Pakistan
NEW DELHI, Nov 7, 2006 (AFP) – India’s foreign minister Tuesday accused regional adversary Pakistan of placing hurdles in the way of a fledgling South Asian Free Trade Agreement (SAFTA).Foreign Minister Pranab Mukherjee warned that a regional free trade agreement reached in January 2004 and implemented earlier this year could collapse if Islamabad failed to […]
’ rights body concerned about renewed action against independant media in Maldives
The media rights body Reporters Without Borders (RSF) had voiced concern over a series of recent actions taken against journalists in the Indian Ocean coral islands of Maldives. Maldivian authorities have arrested an opposition cartoonist, expelled two foreign journalists including one working for the online newspaper Minivannews.com and backtracked on plans to end the state’s […]
Founder of Indian IT giant swipes at Bangalore name change
BANGALORE, India, Nov 7, 2006 (AFP) – The retired founder of software giant Infosys Tuesday took a swipe at officials of India’s southern Karnataka state over their bid to rename Bangalore as Bengaluru, or “the town of boiled beans.” “For me, changing the name is not important,” Infosys chief mentor N.R. Narayana Murthy told reporters. […]
India says rise in income tax collection could see rate cuts
NEW DELHI, Nov 7, 2006 (AFP) – The government may cut income tax rates as more people are declaring their income and paying taxes than ever before, India’s finance minister said Tuesday.P. Chidambaram told a conference of economic editors that the percentage of revenue raised from income tax has risen to 11.2 percent of GDP […]