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Sri Lankan troops, Tigers trade fire as ceasefire ends
April 15, 2009 (AFP) – Sri Lankan troops resumed their offensive against Tamil Tiger rebels in the northeast at the end of a 48-hour ceasefire, the two sides said early Wednesday.The government had wanted the Tigers to free civilians during the break in fighting, but military officials said there was no large exodus over the […]
EU presidency urges truce extension in Sri Lanka
BRUSSELS, April 14, 2009 (AFP) – The EU presidency on Tuesday welcomed the Sri Lankan government’s two-day pause in its offensive against Tamil rebels, but called for a longer halt amid grave concerns over civilian safety. The EU statement stressed that both sides of the conflict should respect human rights and international humanitarian law. The […]
Sri Lanka gets ADB funds for power projects
April 15, 2009 (LBO) – The Asian Development Bank (ADB) said it will provide 160 million US dollars in loans to Sri Lanka to expand and improve electricity services, especially to the poor and those living in conflict-affected areas. The funds will be used to support energy efficiency improvements, to develop the use of renewable […]
Economic crisis a gift to people traffickers: Australia
NUSA DUA, April 15, 2009 (AFP) – People traffickers are licking their lips as the world economic downturn pushes more people to migrate in search of work, Australia’s foreign minister told Asian ministers Wednesday.Stephen Smith told a gathering of ministers and high-level officials from more than 60 countries, mostly from the Asia-Pacific region, that the […]
Sri Lankan rebels say ready for truce, peace talks
April 14, 2009 (AFP) – Sri Lanka’s Tamil Tiger rebels said Tuesday they were ready to negotiate a ceasefire with government forces and restart peace talks to halt decades of ethnic bloodshed.The government said it hoped that non-combatants would be able to leave a narrow strip of coastal jungle where they are allegedly held hostage […]
Sri Lanka Eagle Insurance says competition eroding profitability
Apr 14, 2009 (LBO) – Sri Lanka’s Eagle Insurance, whose 2008 profits fell 12.0 percent to 463.7 million rupees, says it faces tough competition in motor insurance, higher claims and increasing lapse rates. Eagle Insurance Group’s holdings of government securities have increased by 17.1 percent or 1.65 billion rupees, to 11.6 billion. Interest income from […]
Australian parliament examines sports news row
CANBERRA, April 14, 2009 (AFP) – Australia’s Senate will this week examine a critical dispute between sports administrators and global media over the use of digital technology to cover sporting events. The issue has become increasingly controversial, sparking media boycotts of major events as sports bodies seek to impose strict conditions on how games are […]
Pakistan president signs sharia law deal
ISLAMABAD, April 14, 2009 (AFP) – Pakistan’s president signed an accord to put part of the country under Islamic law as part of efforts to end a Taliban insurgency, despite fears Tuesday that it would encourage extremism. President Asif Ali Zardari’s move formalises a controversial deal between a pro-Taliban cleric, who led thousands of supporters […]
Sri Lanka will be more attractive to investors after IMF bailout: CB official
Apr 14, 2009 (LBO) – Sri Lanka will become more attractive for investors once an International Monetary Fund stamp of approval comes with a bailout package, a top central bank official has said. “Once the IMF come in there would be more confidence, where you will find more development partners and foreign investors who would […]
Steady Numbers
Apr 13, 2009 (LBO) – Profits at Sri Lanka’s Pan Asia Bank has grown 3.5 percent to 223 million rupees in the full-year 2008, through strong net interest margins were eroded by high taxes, the bank’s annual report shows. Interest income shot up 45.5 percent to 2.86 billion rupees, interest expenses increased 46.9 percent to […]