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Enigmatic Pakistan bounce back in second Test
July 13, 2009 (AFP) – Debutant Fawad Alam scored an unbeaten century as Pakistan produced a remarkable turnaround to claw their way back in the second Test against Sri Lanka on Monday.The tourists, who were bowled out for 90 in their first innings, hit back to dismiss Sri Lanka for 240 and then cruised to […]
Sri Lanka regional economic disparities narrowing: Central Bank
July 13, 2009 (LBO) – Regional economic disparities in Sri Lanka declined further last year although the Western Province continued to dominate with 45.4 percent share in gross domestic product (GDP), the Central Bank said. Provinces with smaller GDP have grown faster but a few lag behind and need more support, it said in a […]
Sri Lanka central bank warns of rising inflationary pressures
July 13, 2009 (LBO) – Sri Lanka’s central bank, which brought inflation down to 0.9 percent in June, warned of higher inflation raising the possibility that it may lag behind better performing dollar pegged peers in the region. Inflation fell to 0.9 percent in June, the lowest since February 2004, when consumer inflation in Sri […]
Sri Lanka policy rates unchanged in July: Central Bank
July 13, 2009 (LBO) – Sri Lanka’s key reverse repo rate would be held at 11.00 percent while bank lending rates were moving steadily down in response to rate cuts, the Central Bank said in its July monetary policy review. Foreign hedge funds were putting money back into government securities. In May Sri Lanka’s military […]
Sri Lanka on top as Pakistan hit new low
July 12, 2009 (AFP) – Seamer Nuwan Kulasekera took a career-best 4-21 as Sri Lanka took early charge of the second cricket Test after bowling Pakistan out for a paltry 90 on Sunday. The tourists, electing to bat on a wicket that provided early assistance to the seamers, slumped to their lowest total against Sri […]
Sri Lankan moderate Tamil party asks freedom for 300,000 war-hit civilians
July 12, 2009 (AFP) – Sri Lanka’s main moderate Tamil political group Sunday accused the government of holding some 300,000 war-displaced civilians in “open prisons” and demanded their immediate release. The New York-based Human Rights Watch said the squalid camps, which are ringed with barbed wire, were a “national disgrace” and violated international law. The […]
Sri Lanka power output, diesel sales down in April
July 12, 2009 (LBO) – Sri Lanka’s electricity generation in April 2009 fell 2.2 percent to 773 million units (GigaWatt hours) from a year earlier, while diesel sales were down 10.7 percent, the latest government figures showed. Sri Lanka’s economic growth slowed to 1.5 percent in the first quarter of 2009 from 6.2 a year […]
Australia intercepts boat with 73 Sri Lankans: report
July 12, 2009 (LBO) – Australia has intercepted a boat with 73 Sri Lankan asylum seekers who have now been transferred to a detention centre in Christmas Island, a media report said. Authorities were now trying to find out why they made the voyage, the report said.The Age newspaper said many women and children were […]
Sri Lanka creates new top military posts: official
July 12, 2009 (AFP) – Sri Lanka on Sunday named its first ever chief of defence staff and created the post of national security adviser to the president as part of an overhaul of the military.President Mahinda Rajapakse’s office said army chief General Sarath Fonseka would take over as Chief of Defence Staff (CDS) from […]
Forex Charge
July 11, 2009 (LBO) – A high profile opposition lawmaker has been charged under Sri Lanka’s exchange control laws for assisting a foreign investor to deposit three million US dollars in a private bank, a media report said.UNP lawmaker Ravi Karunayake has been indicted with violating exchange control laws by helping deposit the money in […]