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Steady Growth
Sept 13 (LBO) – Sri Lanka and India are likely to clock in about three billion dollars in bilateral trade in the next year, despite some troubled investments, India™s finance minister Shri Chidambaram said Wednesday. The two countries saw trade grow from 650 million dollars six years ago when the Indo-Lanka free trade deal was […]
Singapore PM calls for bigger Asian role in IMF
SINGAPORE, Sept 13, 2006 (AFP) – Asia deserves a bigger role in the International Monetary Fund (IMF) to reflect its growing contribution to the global economy, Singapore’s former prime minister said in remarks published Wednesday.“Asia contributes to about a quarter of the world’s GDP (gross domestic product), but Asia only has about 10 percent of […]
‘t commits to talks
COLOMBO, Sept 13, 2006 (AFP) – The Sri Lankan government said Wednesday it was committed to proposed peace talks with Tamil rebels aimed at ending an upsurge in bloodshed since December that has left more than 1,500 people dead. The nation’s top peace official, Palitha Kohona, said the government was now working on possible dates […]
Blast injures 16 in northern Sri Lanka town
VAVUNIYA, Sept 13 (AFP) – A powerful explosion ripped through a chicken market in Sri Lanka’s northern town of Vavuniya on Wednesday, wounding 16 civilians, police and witnesses said. Police said they believed the rebel Liberation Tigers of Tamil Eelam (LTTE) exploded a grenade inside the market. “We suspect the Tigers were behind the attack,” […]
” talks
Sept 13, 2006 (AFP) – A Sri Lankan official denied on Wednesday the government had agreed to unconditional talks with Tamil Tiger rebels, and accused peace broker Norway of failing to consult with Colombo before making any announcement.Earlier peace talks aimed at ending three decades of ethnic bloodshed came to a halt in April 2003 […]
Sri Lanka raises US$105 mn in dollar bonds
September 12, 2006 (LBO) – Sri Lanka Tuesday raised 105 million dollars through a bond issue aimed at the domestic market.The Sri Lanka Development Bonds carries tenures of two and three years and the Central Bank said the issue was oversubscribed when the issue closed this evening. The bank accepted 70 million dollars in two-year […]
Higher Plane
September 12, 2006 (LBO) – Sri Lanka’s Janashakthi Insurance Company Ltd said its profits grew 324 percent to 209.5 million during the financial year ended December 2005. The privately held insurer reported 32.6 percent sales growth of 3.86 billion rupees despite facing stiff competition for a slice of the country’s tiny insurance market. Income from […]
Time Please
September 12, 2006 (LBO) – Sri Lanka’s banks has sought extra time from monetary authorities to report dormant accounts with only ten banks reporting details so far, an official said. “Ten licensed commercial banks have already submitted their reports,” Secretary General of the Sri Lanka Banks’ Association Upali de Silva said. Banks were earlier asked […]
Global markets face correction : IMF
SINGAPORE, Sept 12(AFP) – Global financial markets could face major corrections as investors appear to have made scant provision for risks that could hamper economic growth, the International Monetary Fund said Tuesday.“With less accommodative external financing conditions, EM (emerging market) countries that still rely heavily on external financing need to reduce vulnerabilities and pursue reforms […]
Co-chairs to Sri Lanka peace process welcome peace talks, call for maximum flexibility
Sept 12, (LBO) – Three of the co-chairs which underwrote Sri Lanka’s peace process, has welcomed the decision of the government and Tamil Tigers to unconditional talks, and called for maximum flexibility and and end to violence by both parties. They also welcome the President’s recent moves to work with other political parties to develop […]