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Sri Lanka steps up search after 28 killed in fresh violence
COLOMBO, Sept 16, 2007 (AFP) – Sri Lankan troops stepped up search operations for Tamil rebels in the embattled north and east after 28 people were killed in a new wave of fighting at the weekend, officials said Sunday. More than 5,400 people have been killed in fighting in the past 21 months following the […]
Sri Lanka says military campaign needed for stability and investment
September 16, 2007 (LBO) – Sri Lanka’s defence establishment has told the business community that it was working to a plan to defeat Tamil Tiger terrorism that would create the stability they needed for investment. “For you to do your business, first there must be a country,” Gothabhaya Rajapakse, Secretary to the Defence Ministry, was […]
Sri Lanka struggling to reach inflation target: economist
Sept 16, 2007 (LBO) – A World Bank economist said Sri Lanka should trim the budget deficit if it wanted to achieve eight percent economic growth and monetary policy should be tightened to reduce inflation. All this will take its toll on future growth. “Unfortunately I think policy makers are not quite clear about what […]
Sri Lanka hopes for tourism recovery with easing of travel advisories
Sept 15, 2007 (LBO) – Sri Lanka is confident of achieving its target of attracting 600,000 tourists this year following the relaxation of travel advisories in key markets, tourist board officials say. “We are confident that this year, looking at the progress we have, we’ll be able to achieve 600,000 tourists for this year,” S. […]
Open Call
Sept 15, 2007 (LBO) – India’s envoy in Sri Lanka urged the island’s business community to overcome reluctance to open the services sector in trade talks between the two countries, especially the movement of people. . India’s economic growth was accelerating faster than had been forecast, creating skills shortages that Sri Lankan companies were well […]
Network Track
Sept 15, 2007 (LBO) – Sri Lanka is on track to complete computer networking of 200 government offices, the state information technology agency said. The Lanka Government Network project hopes to connect 325 ministries, departments, provincial councils, district and divisional secretariats by the year-end the ICT agency said. The ICTA has also developed High-level Information […]
Northern Rock customers continue to take money out
LONDON, Sept 15, 2007 (AFP) – “My head tells me it’s all right but my heart says otherwise,” said an anxious accountant on the state of beleaguered British bank Northern Rock.The man in his 50s was queuing Saturday with 200 other worried customers outside the branch of Britain’s fifth-biggest mortgage lender in Golders Green, north-west […]
ECB shrugs off French criticism, German support for prudence
PORTO, Portugal, Sept 15, 2007 (AFP) – European Central Bank president Jean-Claude Trichet shrugged off on Saturday fresh French criticism of the ECB over its handling of recent financial market turmoil. EU Economic and Monetary Affairs Commissioner Joaquin Almunia defended Juncker, saying he “deserves … our recognition as a president of the group that is […]
Dollar firms, sterling hit by Northern Rock bank panic
NEW YORK, Sept 14, 2007 (AFP) – The dollar steadied Friday a day after plunging to a record low on the euro, while the pound fell on jitters after a Bank of England bailout of key British lender Northern Rock.In late New York trade, the dollar stood at 115.35 yen after 115.04 Thursday and 1.1896 […]
‘s smashing Jayasuriya crushes New Zealand
JOHANNESBURG, Sept 15, 2007 (AFP) – Sanath Jayasuriya hit a second successive half-century as Sri Lanka warmed up for the next round of the Twenty20 world championships with a seven-wicket romp over New Zealand here on Saturday. The veteran left-hander, who made 88 off 44 balls against Kenya on Friday, blasted 61 off 44 as […]