Fishermen alerted public cautioned as cyclone develops

Fishing boats in the Eastern seas have also been taken ashore to prevent any damage being caused by the cyclone. The Disaster Management Centre (DMC) said that fishermen have been advised to stay away from engaging in fishing activities in the Eastern seas and between Hambantota and Jaffna. Fishermen have been alerted and the public have been cautioned as a cyclone is developing just off Sri Lanka.The Department of Meteorology said that a deep depression located southeast of the Bay of Bengal is likely to develop into a cyclone and affect Sri Lanka over the next couple of days. Meanwhile, the National Building Research Organisation (NBRO) has also urged the public to be on alert over possible landslides.The DMC has also been placed on alert to respond to any disaster which may occur as a result of the cyclone. (Colombo Gazette) read more

Buffett cant predict how negative rates will affect economy

OMAHA, Neb. – Investor Warren Buffett says he can’t predict how having interest rates negative for a prolonged period will affect the economy because it has never happened before.The billionaire from Omaha said on CNBC Monday that Berkshire Hathaway’s insurance units in Europe will lose money on the cash they have to keep in banks.He joked that Berkshire would be better off stashing cash in a giant mattress instead of banks if only he could find a trustworthy person to sleep on top of a billion euros.Buffett says he understands why regulators cut interest rates to help Europe recover, but there’s no way to know how that will affect business.Buffett released his annual letter to Berkshire shareholders over the weekend. by The Associated Press Posted Feb 29, 2016 5:50 am MDT Last Updated Feb 29, 2016 at 6:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Buffett can’t predict how negative rates will affect economy read more