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Sri Lanka claims killing 12 Tamil Tiger rebels
Dec 21, 2007 (AFP) – Clashes across frontlines in northern Sri Lanka have left at least 12 Tamil Tiger rebels dead, the defence ministry said Friday.Artillery duels took place on the Jaffna peninsula, and in Weli Oya, Vavuniya and Mannar, the military said, placing their own losses at two soldiers injured and one missing during […]
Sri Lanka rupee closes higher on equity flows; money spikes
Dec 20, 2007 (LBO) – The Sri Lanka rupee closed higher against the greenback as money spiked in tight conditions Thursday, while the state debt office was again fishing for cash with short term bills offers, dealers said. Reserve money on Thursday was 270.4 billion rupees, marginally higher than the year-end target. Stocks closed marginally […]
Financial Health
Dec 20, 2007 (LBO) – Sri Lanka’s financial sector has so far been resilient in the face of shocks but risks are increasing as the economy heads for tough times, the International Monetary Fund (IMF) has warned. Rising interest rates likely to affect profitability of banks while credit quality is weakening as a result of […]
Not Resident
Dec 20, 2007 (LBO) – Sri Lanka’s immigration authorities have informed Sri Lankan airlines Thursday, that its chief executive Peter Hill’s resident visa has been cancelled, an official said. Hill had started his carrier as a trainee at British Airways forerunner British Overseas Airline Corporation in 1961. Hill, a Briton, was appointed by Emirates airlines, […]
Sri Lankan Airlines okayed to train techies by EU
Dec 20, 2007 (LBO) – The aviation safety agency of the European Union has certified Sri Lankan Airlines to train maintenance technicians, the airline said Thursday. “SriLankan Airlines is now one of the few companies in Asia to receive the globally recognized EASA 147 certification from the European Aviation Safety Agency, to provide training in […]
‘s Deccan and Kingfisher airlines to merge
BANGALORE, India, Dec 20, 2007 (AFP) – India’s biggest discount carrier, Deccan, will merge with liquor baron Vijay Mallya’s upmarket Kingfisher Airlines to create the nation’s biggest domestic airline, officials said.The firm formed by the merger next year will keep the name Kingfisher, the flagship beer brand of Mallya’s UB Group, officials from the two […]
” but severely undervalued
WASHINGTON, Dec 20, 2007 (AFP) – The US government declined to name China a currency “manipulator” but said in a report Wednesday that the Chinese yuan remains severely undervalued against the dollar.The Treasury, in a semiannual report to Congress, maintained its position that China should quicken its pace of economic reforms that would help lift […]
Sri Lanka declare at 499-8 in final England Test
GALLE, Sri Lanka, Dec 20, 2007 (AFP) – Skipper Mahela Jayawardene hit an unbeaten 213 as Sri Lanka declared their first innings at 499-8 before lunch on the third day of the final cricket Test against England here on Thursday.Sri Lanka, who lead the three-match series 1-0, have eight sessions to force a 2-0 scoreline […]
Sri Lanka has chance for political settlement now: US Ambassador
Dec 20, 2007 (LBO) – One of the best ways to combat poverty and inequality in Sri Lanka is to complete the all party process and the government has been given that opportunity with the passing of the budget, the United States envoy in Colombo said. Completing All Party Representatives Committee (APRC) will also lay […]
Northern Hunt
Dec 20, 2007 (LBO) – Sri Lanka plans to invite oil companies to explore for petroleum deposits in new areas in the north of the island, a senior minister said, where Tamil Tiger rebels are active. The petroleum ministry has been given the government nod to kick off exploration in the Sri Lankan side of […]