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Sri Lankan Tamil Tiger suspects on trial in Australia
Dec 14, 2007 (LBO) – Three Australians of Sri Lankan Tamil origin are to stand trial in Australia’s Supreme Court for engaging in terrorism related offences there, Sri Lanka’s foreign ministry said. On Friday afternoon, a Magistrates Court in Melbourne committed the three, Aruran Vinayagamoorthy, Sivarajah Yathavan and Arumugam Rajeevan, to stand trial in the […]
Sri Lanka govt minister defects to opposition ahead of crucial vote
Dec 14, 2007 (LBO) – Sri Lanka’s national heritage minister, Anura Bandaranaike, crossed over to the opposition benches in parliament a few minutes ago, just an hour ahead of a crucial budget vote in the house. Updated/corrected portfolio Bandaranaike’s defection weakens the ruling coalition’s already wafer thin majority in parliament. Bandaranaike is the brother of […]
Sri Lanka govt wins crucial budget vote
Dec 14, 2007 (LBO) – Sri Lanka’s government Friday won a crucial vote in parliament on its 2008 budget, despite a last minute crossover of a cabinet minister, removing uncertainty that had plagued the country for weeks. The turning point was the abstention of the 38 member Marxist-nationalist Janatha Vimukthi Peramuna (JVP) who voted against […]
Sri Lanka October trade gap widens, 10-month deficit still down
Dec 14, 2007 (LBO) – Sri Lanka’s trade deficit for the first ten months of 2007 narrowed 3.7 percent to 2,846 million US dollars period, though the gap in October widened, the Central Bank said Friday. Total export earnings during January-October 2007 totalled 6,286 million dollars, following a growth of 13.1 per cent from the […]
Sri Lanka reserves up on government borrowings
Dec 14, 2007 (LBO) – Sri Lanka’s official foreign reserves had shot up to 3,226 million dollars in October from following a 500 million dollar sovereign bond issue, allowing the country to record a 475 million dollar surplus for the year, the Central Bank said. In January foreign reserves were 2,526 million US dollars. Total […]
Equity Injection
Dec 13, 2007 (LBO) – Sri Lanka’s Nations Trust Bank is making a one billion rupee cash call sweetened with warrants, giving an option to buy into the bank at a fixed price in 2010 and 2011, the company said Thursday. NTB has 31 branches, 8 leasing centers, 38 teller machines and issues American Express […]
Upturn
Dec 13, 2007 (LBO) – Sri Lanka saw more foreign visitors in November with Western Europe, a key generating market rallying 40 percent to drive total arrivals up by 20 percent, the tourism promotion office said. Arrivals from UK grew 53 percent to 7,938, Germany 24 to 4,005 while the Netherlands grew 85 percent to […]
No Scams
December 13, 2007 (LBO) – Organizers of a Sri Lankan advertising award scheme say they would clamp down on ‘scam’ ads, which are especially made to win awards but are not widely placed in media. This year the steering committee of the ‘Chillies 2008’ awards has devised stringent rules to counter such scam ads. According […]
Sri Lankan seamen institute gears to meet demand for crews
Galle, Dec 13, 2007 (LBO) – A seamen training institute run by Sri Lanka’s Mercantile Shipping Company launched a new lifeboat replacing that damaged by the tsunami, as it prepares to meet booming worldwide demand for crew. The lifeboat christening ceremony was held at the Mercantile Seamen Training Institute in the historic port town of […]
Sri Lanka counters British broadside, envoy summoned
Dec 13, 2007 (LBO) – Sri Lanka has expressed displeasure at outspoken remarks by Britain’s envoy on national politics, the Foreign Ministry said Thursday, but it remained silent on charges that politicians were corrupt. “The British High Commissioner, Dominic Chilcott, was summoned to the Ministry of Foreign Affairs to express the deep displeasure of the […]