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US charges six with shipping arms to Tamil Tigers, Indonesia
WASHINGTON, Sept 29, 2006 (AFP) – US authorities said Friday they had charged six Asian men with conspiracy to ship arms, including submachine guns and sniper rifles, to Sri Lanka’s Tamil Tigers and unnamed customers in Indonesia.The men, arrested in Guam, are accused of acting as brokers between weapons manufacturers and the Tigers, which is […]
Fresh violence claims 18 lives in Sri Lanka
Sept 30, 2006 (AFP) – Sri Lankan police commandos killed 15 Tamil Tiger rebels who attacked their camp in the east of the country on Saturday, while three constables died in other violence.The defence ministry said the guerrillas attacked the Pullumalai camp of the police’s Special Task Force (STF) early Saturday. “The STF had good […]
New Ball
September 30, 2006 (LBO) — Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama resigned Saturday citing personal reasons. Medagama will be succeeded by ex-cricketer Asantha de Mel. De Mel, who is currently the chairman of CPCs oil storage and distribution facility, is also believed to have close links with President Mahinda Rajapakse. In July, petroleum trade […]
Fitch affirms NDBs AA(lka) rating post merger with NDB Housing
Sept 29, 2006 (LBO) – Fitch Ratings Lanka Friday affirmed its AA (lka) rating for NDB Bank following its merger with NDB Housing Bank. NDB tookover the assets and liabilities of NDB Housing Bank on Sept 1 after securing the blessings of Sri Lanka’s Central Bank. The merger helps NDB Housing to overcome Central Bank’s […]
Fitch rates The Finance Company’s Rs500 mn debentures BBB-(lka)
Sept 29, 2006 (LBO) – The Finance Company Ltd (TFC) gets ‘BBB- (lka)’ national long-term rating from Fitch for its upcoming 500 million rupee 5-year unsecured subordinated redeemable debentures.The Finance’s senior debt currently carries a BBB (lka) from Fitch. As at June, 76 percent of TFC’s funding portfolio had maturities less than a year and […]
Small Print
September 29, 2006 (LBO) – Commercial Bank of Ceylon secured a AA(lka) for its upcoming 1.5 billion rupee debenture, with Fitch Ratings asking the bank to match its growth with capital. Sri Lanka’s biggest private bank in terms of assets, Commercial Bank is raising debt with maturities ranging from 5-10 years to meet upcoming expansion […]
India logs 8.9 pct first quarter growth, beats forecasts
NEW DELHI, Sept 29, 2006 (AFP) – India, the world’s second-fastest growing major economy after China, beat most forecasts Friday by reporting 8.9 percent growth in the first quarter to June, official data showed. The robust performance, driven by strong manufacturing, services and construction numbers, came as the ruling Congress-led coalition marked the midway point […]
”s split bursts into the open
Sept 29 (LBO) – The simmering power-struggle within the JVP, or People’s Liberation Front, came out into the open today with a stalwart disclosing his differences with the leadership of Somawansa Amarasinghe.Nandana Gunathilake, a politburo member of the Marxist-nationalist party said he sent in his resignations from the high party positions on February 7, but […]
’s Marxist nationalist JVP
Sept 29 (LBO) – A leading member of the Marxist-nationalist Janatha Vimukthi Peramuna has resigned his position in the party. Nandana Gunathilake told a local radio station that he has finally resigned his positions in the JVP because the party failed to reform. He said has taken a backseat in the party since February but […]
UN says Sri Lanka violence hitting tsunami aid work
Sept 29, 2006 (AFP) – The United Nations said Friday ongoing fighting between government forces in Sri Lanka and Tamil Tiger rebels had badly hit tsunami reconstruction efforts.The UN Secretary-General’s Deputy Special Envoy for Tsunami Recovery, Eric Schwartz, also said he was “deeply disturbed” to learn that more than 200 civilians had been killed and […]