All Blogs
‘s economic growth forecast for 2006-07
MANILA, Sept 6, 2006 (AFP) – China and India are expected to push developing Asia’s economic growth to a better than expected 7.7 percent this year despite high oil prices, the Asian Development Bank said in a report here Wednesday. The bank said average inflation in the region should rise to 3.8 percent this year […]
More deaths in fresh fighting in Eastern Sri Lanka
Sept 6, 2006 (AFP) – At least two Sri Lankan soldiers were killed and 13 others wounded Wednesday in clashes with Tamil Tiger rebels in the country’s restive north-east, military officials said.The Liberation Tigers of Tamil Eelam (LTTE) shelled military positions at Maavilaru village in Trincomalee district where security forces on Monday regained control of […]
Central Bank extends freeze on TRO bank accounts to investigate alleged tiger links
Sept 06 (LBO) – The Central Bank said Wednesday it would extend a freeze on all bank accounts of the charity, Tamil Rehabilitation Organization (TRO) by six months to investigate alleged terrorist links, following an order from Sri Lanka’s High Court. All banking transactions of the TRO were suspended over the weekend, freezing 75 million […]
Norway bids to save Sri Lanka peace process
COLOMBO, Sept 6, 2006 (AFP) – Norway’s top envoy sought to salvage Sri Lanka’s peace process in talks with Tamil Tigers on Wednesday as the rebels vowed retaliation for heavy bombing that led to the capture of a key town. “There is no particular agenda, but obviously today’s situation will be discussed,” Erik Ivo Nurnberg […]
French charity scales down Sri Lanka operations after massacre
Sept 6, 2006 (AFP) – A French charity announced Wednesday it was drastically scaling down its operations following allegations that government troops were responsible for the massacre of 17 of its employees.Action Against Hunger (Action contre la Faim or ACF) said it was reducing its number of staff by 60 to 70 percent and stopping […]
’s trade deficit ballooned in July as port strike hit exports
Sept 06 (LBO) – Sri Lanka’s trade deficit expanded by more than 50 percent in the seven months to July, spurred by rapid import growth and falling exports, the Central Bank said. In July exports fell by 7.9 percent to 516 million US dollars, after striking port workers interrupted exports, but oil imports which come […]
Sri Lanka lags reforming nations in South Asia: Report
Sept 06 (LBO) – Once the leader in reform, Sri Lanka is now lagging other reforming economies in South Asia, and the country has become a more difficult place to do business, a World Bank report released today said. ‘Doing Business in 2007: How to Reform’ has found that only India and Pakistan had introduced […]
Maldives easiest place to do business in South Asia, Sri Lanka trails in fourth place
Sept 06 (LBO) – The coral atoll of Maldives was the easiest place to do business in South Asia, followed by Pakistan and Bangladesh, while Sri Lanka trailed at fourth place, in a ranking by the World Bank. Maldive Islands earned first place in four out of ten topics the Bank had used to measure […]
’s Serendib Hotels to sell 20% stake to Thai resort operator, Minor International
Sept 05 (LBO) – Serendib Hotels said Tuesday it would go in for a private placement to sell a 19.90 percent stake in the company to Minor International Public Company Limited, a large Thai resort operator. The company, which owns a chain of three hotels Hotel Serendib, Club Hotel Dolphin and Sigiriya Hotel, plans to […]
Oil Brokering
Sept 06 (LBO) – Sri Lanka has approved new terms to limit exports of vanaspathi vegetable oil to India, with the government hopeful that local factories will re-open in a month. The two countries clocked up just under two billion dollars in bilateral trade last year a four fold increase since the free trade deal […]