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” struggle for separate state
June 16, 2009 (AFP) – The few surviving leaders of Sri Lanka’s defeated Tamil Tigers announced Tuesday they were reorganising the rebel movement and forming a “transnational government.” The rebel group’s international relations chief, Selvarasa Pathmanathan, said in a recorded message that the organisation would continue to pursue its aim of a separate Tamil state […]
Gas Diplomacy
June 16, 2009 (LBO) – The Netherland’s envoy to Sri Lanka has raised concerns about the government pricing of liquefied petroleum gas of top Dutch firm Shell Gas, consumer affairs minister Bandula Gunewardene said. Shell has previously attracted criticism for charging high fees for its terminal complex. The minister said he had promised a meeting […]
Sri Lanka central bank cut rates to boost post-war recovery
June 16, 2009 (LBO) – Sri Lanka cut its main policy discount rate by 50 basis points to 11.00 percent to boost credit and support post war economic recovery, amid muted inflation, the Central Bank said. The defeat of Tamil Tigers last month has raised expectations of post war reconstruction and recovery. “The renewed business […]
Sri Lankan stocks up 1.40-pct
June 15, 2009 (LBO) – Sri Lankan shares gained on Monday pushed up by the blue chips counters headed by conglomerate John Keells Holdings (JKH)and high retail interest in construction, hotels and plantations sectors, brokers said. Malwatte valley Plantations closed 33.00 rupees, up 4.25, while Udapussellawa Plantations closed at 27.00 rupees, up 3.50. Agalawatte Plantations […]
Circular Delay
June 15, 2009 (LBO) – The Sri Lankan government has decided to call for fresh tenders for the Greater Colombo Urban Transport Development Project as previous bids were too high. The project, meant to ease traffic jams in Colombo, is funded by a 223 million US dollar loan from Japan, the finance ministry said in […]
Sri Lanka military says Tiger sub found
June 15, 2009 (AFP) – Sri Lankan troops have recovered the first submarine believed to have been used by the defeated Tamil Tiger rebels, the military said Monday.Troops found the 24-foot (7.2-metre) submersible on the coast of the northeastern district of Mullaittivu, where the Liberation Tigers of Tamil Eelam (LTTE) were defeated last month, ending […]
India crash, Sri Lanka suffer Irish scare
LONDON, June 14, 2009 (AFP) – Defending champions India crashed out of the World Twenty20 on Sunday while Sri Lanka stayed on course for the semi-finals but only after surviving a scare by Ireland. India lost by three runs to England at a packed Lord’s, a result which left Mahendra Singh Dhoni’s highly-rated team to […]
” US recovery in mid-2010 but big risks
WASHINGTON, June 15, 2009 (AFP) – The International Monetary Fund projected Monday the United States would make a “solid” recovery from recession in mid-2010, but warned of major risks including the real-estate crisis and rising interest rates.In its annual report on the world’s biggest economy, the IMF projected US gross domestic product (GDP) would shrink […]
Sri Lanka 1Q state revenues down 8.2-pct
June 15, 2009 (LBO) – Sri Lanka’s state revenues fell 8.2 percent to 144.9 billion rupees in the first quarter of 2009, while rising expenses have ballooned the gap in the current account of the budget to an unprecedented level. In the first two months of 2009 revenues fell 10.6 percent with tax revenues falling […]
Sri Lanka water utility still cannot cover costs
June 15, 2009 (LBO) – Sri Lanka’s national water supply and drainage board (NWS&DB) has given 34 percent of the population pipe-borne water, but it still cannot recover costs, a finance ministry report said. The percentage of population covered by the Water Board’s pipe-borne schemes increased to 34 percent in 2008 from 32 percent in […]