Tag: lbo
Sri Lanka inflation stumps markets
Mar 16, 2011 (LBO) – Sri Lanka’s rising inflation and negative real rates have stumped markets with bond liquidity vanishing, quotes widening and forward dollar premiums doubling amid uncertainty and lack of direction, dealers said. The weighted average prime lending rate has also started to move up slightly to 9.25 percent in the week ending […]
Australian PM defends boat people riot response
SYDNEY, March 16, 2011 (AFP) – Australian Prime Minister Julia Gillard on Wednesday defended the police reaction to riots at the remote Christmas Island detention centre after “bean-bag bullets” and tear gas was used. The facility, which houses some 2,539 boat people, has been hit by a series of disturbances this week involving hundreds of […]
Sri Lankans to apply for Indian visas online
Mar 16, 2011 (LBO) – Sri Lankans travelling to India will be required to apply for visas online from March 25, the Indian High Commission said in a statement. “Henceforth, applicants will be required to apply online at www.indianvisaonline.gov.in/visa,” it said. Applicant will be required to download the filled-in application, sign and submit it with […]
Fresh riot by asylum seekers on Australian island
SYDNEY, March 15, 2011 (AFP) – Australia’s remote Christmas Island detention centre was hit by a second night of riots on Tuesday, with up to 200 asylum seekers destroying closed-circuit television cameras. It followed a “significant and serious incident” on Monday when police used tear gas to quell a protest of 300 detainees. “We saw […]
Sri Lanka land prices seen rising
Mar 14, 2011 (LBO) – Land prices in Sri Lanka are set to rise with interest rates seen “benign” this year and remittances from migrant workers who send money back to build homes staying strong, the central bank said. “When the asset prices fall, financial markets, investors and financial institutions are adversely affected and such […]
India captures 61 Somali pirates after clash: navy
NEW DELHI, March 14, 2011 (AFP) – The Indian navy has captured 61 suspected Somali pirates and rescued 13 fishermen after a firefight with a pirate mothership in the Arabian Sea, a navy spokesman said Monday. “A total of 74 men have been apprehended of which 61 are suspected to be Somali pirates,” Indian navy […]
Australian police use tear gas on asylum seekers
SYDNEY, March 14, 2011 (AFP) – Australian police used tear gas to quell a protest of 300 asylum seekers on remote Christmas Island on Monday, as the government warned of a tense mood within the under-pressure detention centre. More than 6,500 refugees — mostly from Iraq, Afghanistan and Sri Lanka — arrived in Australia last […]
Sri Lanka private pension fund makes equity gains
Mar 12, 2011 (LBO) – A pension fund of private Sri Lankan citizens managed by the state has made large capital gains by investing in stocks with the share of equity in the 900 billion rupees fund rising to 5.0 percent from 1.3 percent, its managers said. Sri Lanka’s Employees Provident Fund, which is made […]
Sri Lanka information desk for Japan tsunami
Mar 11, 2011 (LBO) – Sri Lanka’s Ministry of External Affairs said it has set up an information desk to help nationals seek news of relations in Japan in the aftermath of the earthquake and tsunami there. It said in a statement those who cannot get information about their next of kin in Japan following […]
Sri Lanka receive Japanese grant for community development
Mar 11, 2011 (LBO) – The Japanese government handed over an 18 million rupee grant to two community development organizations for development projects in Sri Lanka’s Ratnapura and Trincomalee districts. The Association of Social Activities Development Sri Lanka (ASAD) was the recipient of a 10 million rupee grant for a conflict affected community development project […]
Buck Stops
Mar 10, 2011 (LBO) – Most of the loss of Ceylon Petroleum Corporation, Sri Lanka’s state-run petroleum retailer is due to subsidized sale of furnace oil to a state power utility, the island’s oil minister has said. Furnace oil which cost the CPC 81 rupees a liter is sold to the Ceylon Electricity Board (CEB) […]
Sri Lanka Hilton Hotel state grip tightened
Mar 10, 2011 (LBO) – Sri Lanka’s economic development minister Basil Rajapaksa had told parliament that the state had ‘fully taken over’ a city hotel that is now managed by Hilton, an international chain. The Colombo Hilton is operated on a building owned by Hotel Developers Lanka, a state-controlled firm in which a majority stake, […]