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Sri Lanka trade gap up in November
Jan 16, 2007 (LBO) — Sri Lanka’s trade gap widened 66 percent in November 2007 to 418 million dollars as exports dipped, but the deficit for the first 11 months was flat, the Central Bank said. Exports in November fell 5.1 percent with industrial exports dipping 13.8 percent. “This decline in export earnings could be […]
At Sea
Jan 15, 2008 (LBO) – A week-long campaign by the International Transport Workers’ Federation (ITF) in Colombo and ports in the sub-continent has helped seafarers win better pay and working conditions, the organisation said. “Despite this nine vessels were inspected and when the team was denied access to the Queen Arrow 1, some 40 activists […]
Sri Lankan hotels in bid to raise earnings despite tourism downturn
Jan 15, 2008 (LBO) – Sri Lankan city hotels have announced plans to impose tough rules to raise standards and deliver a better service to tourists with the aim of earning more money after a recent rate hike. “The tourists go to a hotel with an expectation and it (hotel) is doomed if he sees […]
Way Open
SYDNEY, Jan 15, 2008 (AFP) – Nauru authorities have dropped sexual assault charges against six Sri Lankan asylum seekers, paving the way for their claims to be processed, Australian immigration officials said Tuesday. The six are among the last asylum seekers held in an Australian immigration detention centre on the Pacific island which Australian Prime […]
Record-breaking gold could hit 1,000 dollars: analysts
LONDON, Jan 15, 2008 (AFP) – The price of gold is hitting new record highs owing to the troubled US economy and a cocktail of other supportive factors, leading some analysts to predict 1,000 dollars per ounce could happen soon.In recent days the precious metal has blasted past 900 dollars in a record-breaking run. Unprecedented […]
Sri Lanka peace groups get World Bank grants
Jan 15, 2008 (LBO) – The World Bank is giving funds to Sri Lankan civil society organizations for projects that will focus on bringing about a sustainable peace. The bank said in a statement its Civil Society Fund, formerly the Small Grants Program, plans to award seven grants of up to $5,000 (about Rs. 500,000) […]
Japan aid to Sri Lanka under review after truce break
Jan 15, 2008 (LBO) – Sri Lanka’s largest donor Japan said it was awaiting a political solution to the island’s internal conflict and was reviewing its aid policy after the island’s government pulled out of a truce with the Tamil Tigers. . Japan’s special envoy to the war-ravaged island said his government was gravely concerned […]
Sri Lanka bonds up again, bills lower
Jan 14, 2008 (LBO) – Sri Lanka bonds edged up slightly Monday but 3-month bill yields are expected to move down further at Wednesday’s auction, dealers said.In the secondary market 3-month bills were trading at 18.45/19.00 percent against a weighted average of 20.12 percent at the last auction, while 6-month bills were quoted at 18.90/19.25 […]
Sri Lanka stops pepper exports to India under free trade deal
Jan 14, 2008 (LBO) – Sri Lanka has stopped exporting pepper under the Indo-Lanka Free Trade Agreement (FTA) because of restrictions imposed by India, a top exporter has said. Gulam Chatoor, former chairman of the Spices and Allied Products Producers and Traders Association said India’s imposition of a cap of 2,500 tonnes a year on […]
No Justice
Jan 14, 2008 (AFP) – A Sri Lankan man has been released from prison after spending 50 years on remand, his lawyer said Monday.D.P. James, now 80, was arrested in August 1958 for attacking and wounding his father with a knife. He was sent to jail, then moved to a psychiatric hospital, and then discharged […]