Category:
Oil Conundrum
July 9, 2006 (LBO) – Sri Lanka’s main opposition charged that weak economic management was the cause of galloping inflation in the country and not oil prices.“The government is hiding behind the bunker of oil price rises and driving up inflation by printing money and banks borrowings,” United National Parliamentarian and former Deputy Finance Minister […]
Quick Sand
July 9, 2006 (LBO) – Sri Lanka will continue to subsidise retail fuel prices in the absence of a new pricing formula, as Colombo threatened to takeover Indian Oil Corp’s local unit if they fail to resume gasoline sales, officials said Sunday. Sri Lanka is a net oil importer, with fuel shipments doubling to 1.6 […]
India’s ruling Congress battles mounting criticism over reforms
NEW DELHI, July 8, 2006 (AFP) – India’s ruling Congress party moved into damage control on Saturday after an embarrassing U-turn on privatisation sparked rumours that Prime Minister Manmohan Singh was quitting.“There are no differences, and will never be, between the party and the prime minister. We stand as one,” Singh’s Congress party spokeswoman Jayanti […]
‘s ruling Congress battles mounting criticism over reforms
NEW DELHI, July 8, 2006 (AFP) – India’s ruling Congress party moved into damage control on Saturday after an embarrassing U-turn on privatisation sparked rumours that Prime Minister Manmohan Singh was quitting.“There are no differences, and will never be, between the party and the prime minister. We stand as one,” Singh’s Congress party spokeswoman Jayanti […]
Sri Lanka police probe death of innocent man beaten up in jail
July 8, 2006 (AFP) – Sri Lankan police have launched an investigation into the death of a man who was allegedly beaten up in prison after being falsely accused of a school bomb hoax, officials said Saturday.The death of the 55-year-old man, Sunil Perera, has sparked widespread public outrage in the tropical island nation. Police […]
Sri Lanka bipartisan peace bid fails, opposition says
July 7, 2006 (AFP) – A fresh attempt to hammer out a bipartisan approach to Sri Lanka’s drawn out Tamil separatist conflict ended abruptly with the defection of an opposition legislator, officials said Friday. with best prices today in the USA with best prices today in the USA with best prices today in the USA […]
Bank of Japan to tighten rules on executives’ finances
TOKYO, July 7, 2006 (AFP) – The Bank of Japan said Friday it will ban its executives from investing in most types of financial products following a scandal over its governor’s personal investments.They will be forbidden from trading stocks or investing in private funds, the central bank decided, based on recommendations from an advisory panel. […]
Indian freeze on privatisation shows PM’s tough reforms fight
NEW DELHI, July 7, 2006 (AFP) – India’s move to freeze its privatisation programme is a bad signal for reforms and highlights the uphill battle Prime Minister Manmohan Singh faces to liberalise the economy, analysts said Friday.Only two weeks after announcing the government would revive asset sales, Singh said Thursday he was putting “on hold” […]
Sri Lankan rupee strengthens; shares close narrowly mixed
July 7, 2006 (LBO) – Colombo share prices closed little change in moderate trade Friday, but the rupee rallied a touch on some dollars sales by state banks, dealers said.They said the benchmark finished in the positive territory thanks to local retail interest in few smaller cap stocks, with institutional interest in selected bluechip counters. […]
Audit Rider
July 7, 2006 (LBO) – A parliamentary body which oversees public finances, plans to bring a law to beef up the office of Sri Lanka’s Auditor General, a senior legislator said. Meanwhile a parliamentarian has made statements claiming to be from another report due to be tabled shortly, that 360 billion rupees have disappeared to […]
Enabling Code
July 7, 2006 (LBO) – Sri Lanka’s main employers’ body has introduced a code of conduct as part of its efforts at encouraging firms to hire disabled persons.The voluntary code, which contains guidelines to employers for hiring and retaining disabled persons, was launched by the Employers’ Federation of Ceylon (EFC) Thursday. “We at the Federation […]
‘ finances
TOKYO, July 7, 2006 (AFP) – The Bank of Japan said Friday it will ban its executives from investing in most types of financial products following a scandal over its governor’s personal investments.They will be forbidden from trading stocks or investing in private funds, the central bank decided, based on recommendations from an advisory panel. […]