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‘s call rates hit 50% in new 12-year high
March 27, 2007 (LBO) – Sri Lanka’s Interbank call rates rocketed to a new 12-year high of 50 percent Tuesday with state banks on the borrowing side, dealers said. Interbank call rates hit 38 percent Monday with the Central Bank keeping cash tight in a bid to dampen raging inflation brought on by excessive money […]
Pitch mystery for South Africa and Sri Lanka
GEORGETOWN, Guyana, March 27, 2007 (AFP) – South Africa and Sri Lanka will be entering new territory when they meet in a World Cup Super Eight match at the Guyana National Stadium Wednesday. Rain prevented both teams from practising Monday and the pitch remained under cover, so the players could not make any assessment of […]
Whatmore dreams of golden future for young giant-killers
ST JOHN’S, Antigua, March 27, 2007 (AFP) – Bangladesh coach Dav Whatmore is dreaming of a golden future for his young side who edged out India for a place in the World Cup Super Eights. Bangladesh have made the second round for the first time and will face Australia, Whatmore’s own country, in their next […]
Sri Lanka Tiger airforce a threat to South Asia: president
March 27, 2007 (AFP) – The emergence of the Tamil Tigers as the world’s first guerrilla outfit with its own planes could be a threat to South Asian security, Sri Lanka’s president said Tuesday. The rebels on Monday successfully flew over the island’s main military airbase and escaped unscathed after dropping several bombs. “The LTTE […]
Suicide bombing attack toll climbs to eight
March 27, 2007 (AFP) – Tamil Tiger rebels Tuesday drove a tractor and trailer loaded with explosives on a suicide mission into an army camp in eastern Sri Lanka, killing at least eight people, a day after their spectacular first ever air raid. Ten people were also wounded in the attack on the Chenkaladi army […]
Sri Lanka offers bonus for kids to return coins in their piggy banks
March 27, 2007 (LBO) – Sri Lanka would offer an immediate 20 percent bonus in stationary for kids who break their piggy banks and deposit the coins in the banking system, officials said. “If children break their piggy banks and bring the coins back to circulation we will give exercise books, pens and rulers to […]
Sri Lanka needs more fiscal, monetary tightening; growth 6.1% in 2007 – ADB
March 27, 2007 (LBO) – Sri Lanka needs more monetary tightening and a smaller budget deficit to improve its economic fundamentals and bring inflation down, the Asian Development Bank (ADB) said Tuesday. We do think monetary policy would have to be tightened further, ADB Country Economist Johanna Boestel said. The Central Bank can succeed in […]
‘s state investment promotion body says industrial parks safe
March 27, 2007 (LBO) – Sri Lanka’s state investment promotion body which runs industrial parks said they were not affected by a Tamil Tiger air raid, including one near the targeted air base. The Board of Investment (BOI) runs two large industrial parks in Katunayake near the airport and in Biyagama as well as a […]
Sri Lanka scrambles to boost confidence after air raid
March 27, 2007 (AFP) – Sri Lankan authorities are struggling to restore investor confidence a day after Tamil Tiger rebels launched an audacious air attack that stunned the defence establishment, officials said. The two sides agreed to a Norwegian-arranged truce in 2002, but successive talks broke down. Tamil Tiger rebels carried out their first air […]
Indian Resolve
March 26, 2007 (LBO) – Indian budget carrier Air India Express (AIE), which started operations to Sri Lanka Sunday, will continue its Colombo-Chennai run, and look to add frequencies from Delhi and Mumbai later this year, officials said. A number of international airlines suspended services to Sri Lanka in the wake of a 2001 attack […]