07252016Mon
Last update: Mon, 25 Jul 2016 05am

South Asia

World - South Asia

Sri Lanka President appoints Indrajit Coomaraswamy as new central bank chief COLOMBO: Sri Lankan President Maithripala Sirisena on Saturday said he has appointed former central banker Indrajith Coomaraswamy as the new central bank chief, moving to quell uncertainty after the previous governor declined to seek reappointment."After consulting all parties relevant, I appointed Dr. Indrajit Coomaraswamy to head the Central Bank of Sri Lanka," President Sirisena said in his twitter feed.The 66-year old senior economist was a former director of economic affairs at the Commonwealth Secretariat.He worked at the Central Bank of Sri Lanka since 1973, serving in the economic research, statistics and bank supervision divisions as a staff officer until 1989, before moving to the Commonwealth Secretariat.Arjuna Mahendran, the former central bank chief since January 2015, ended his term on Thursday amid a corruption investigation. Mahendran, who has denied any wrongdoing, did not respond to telephone calls from Reuters to seek comment.The central bank is known to frequently intervene in the ...

World - South Asia

Bus accident kills 26 in north China: report BEIJING: A bus accident in north China killed 26 people and injured four when the coach crashed through a highway guard rail and plunged into a canal, state media reported Saturday.Images of the scene of Friday's accident showed rescue workers pulling bodies from a coach submerged in deep water below an expressway near the northern port city of Tianjin.The long-distance coach was carrying 30 people from northern Hebei province to the northeastern city of Shenyang, ...

World - South Asia

Landslides and flooding in India kill at least eight DEHRADUN: Flooding and landslides triggered by heavy rain in a mountainous part of north India killed at least eight people on Friday and 30 more are missing, a disaster control official said.Piyush Rautela said the toll from the disaster in the scenic Himalayan state of Uttarakhand could rise, with many believed buried in the mud and debris that barrelled down slopes into homes."So far eight bodies have been recovered and 30 are believed to be ...

World - South Asia

India's monsoon rains 1pc above average in past week NEW DELHI: Monsoon rains in India were 1 percent above average in the week ending June 29, the weather office said on Thursday. The June-September monsoon has remained 12 percent lower than average so far, but rains have covered almost the entire country, and helped quicken the planting process of summer crops such as rice, soybeans, cotton and pulses.Though the monsoon arrived in India on June 8, a week later than usual, the weather office ...

World - South Asia

China's Xi urges caution over US missile deployment in South Korea BEIJING: Chinese President Xi Jinping on Wednesday urged South Korea to pay attention to China's concerns about the deployment of the US THAAD missile defence system to the country and "cautiously" address the plan.The United States and South Korea have begun talks on possible deployment of the Terminal High Altitude Area Defense (THAAD) system after North Korea tested its fourth nuclear bomb on Jan. 6 and conducted missile tests.China and Russia have urged the United ...

World - South Asia

India approves rise in salaries, pension for govt employees NEW DELHI: India's cabinet on Wednesday approved a proposal to revise up salaries and pensions for government employees, an official, privy to the decision, told reporters. The official declined to be named or identified as he was not authorised to speak to the media.The move is estimated to benefit nearly 10 million government employees.Details were not immediately available ahead of a government briefing later.Copyright Reuters, 2016 ...

World - South Asia

Indian cabinet clears new mineral exploration policy NEW DELHI: India's cabinet on Wednesday cleared a new mineral exploration policy that will allow private companies to carry out stand-alone exploration for the first time, a government source said. India is keen to get private firms to start exploring for more minerals like diamonds and gold, where current mining is negligible, as part of Prime Minister Narendra Modi's ambition to make the country a major mineral producer.Copyright Reuters, 2016 ...