Tag: Sri Lanka
Sri Lankans vote for rural rebuilding: president
March 19, 2011 (AFP) – Sri Lanka’s president said Saturday his party’s landslide victory in local elections was an endorsement of the government’s focus on rebuilding rural areas after decades of civil war. The Tamil National Alliance, a party of minority Tamils, won 12 councils after fielding candidates in the island’s former war zones. The […]
Sri Lanka equities could be buffeted by Japan fallout: brokerage
Mar 17, 2011 (LBO) – Sri Lanka’s economy may not be much affected by the devastation in Japan in the short term but a global fallout may impact commodity prices and capital flows, analysts and officials said. “The direct impact of the Japanese natural disaster on the Sri Lanka economy should be small,” Heraymila Securities […]
Sri Lanka investors get fast track to settle in Britain
Mar 17, 2011 (LBO) – New visa rules will allow investors and entrepreneurs who invest large sums of money or create jobs and “exceptionally talented migrants” to settle permanently in the UK faster, a statement said. The move is an effort to lure the wealthy and brainy from other countries like India to help the […]
Sri Lanka moves against child labour
Mar 17, 2011 (LBO) – The Sri Lankan government plans to allocate more funds to a campaign to eliminate the worst forms of child labour by 2016, a statement said. “The funds will be used to train duty bearers, raise awareness and promote behavioural change amongst communities vulnerable to the worst forms of child labour.” […]
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 […]
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 […]
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 […]
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 […]