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Warplanes bomb Tiger munitions dump amid Sri Lanka relief bid
Aug 22, 2006 (AFP) – Sri Lankan warplanes bombed a suspected Tamil Tiger munitions dump Tuesday as a ship prepared to sail with food for tens of thousands cut off by fighting in the besieged Jaffna peninsula.Israeli-built Kfir jets attacked a Tiger position close to the frontline of fighting in the northern district where rebels […]
Sri Lankan relief ship to set sail for Jaffna after delays
Aug 22, 2006 (AFP) – A Sri Lankan cargo ship is to set sail Tuesday with food aid for the embattled Jaffna peninsula but it may go half-empty because bad weather has disrupted loading, officials said. The vessel must leave as the food is badly needed by civilians in the northern district where fighting between […]
Colombo mine aimed at politician, says Sri Lanka minister
Aug 22, 2006 (AFP) – Sri Lankan police Tuesday discovered a powerful Claymore mine in a crowded Colombo market area as the city hosted thousands of athletes for the South Asian Games. The 15-kilogram (33 pound) device was found rigged up to a vegetable vendor’s bicycle in the Borella district of the city, a police […]
US bust on Tiger missile deal hailed in Sri Lanka
COLOMBO, Aug 22, 2006 (AFP) – Sri Lanka Tuesday welcomed the arrest in the United States of men allegedly trying to buy surface-to-air missiles for Tamil Tiger rebels and said the crackdown was “tangible support” for the war against terrorism.Sri Lanka’s government said US authorities had filed charges against eight people accused of trying to […]
Treasury bond yields take a leap
August 21, 2006 (LBO) – Sri Lanka’s borrowing costs shot up Monday, when the Central Bank sold three and four year treasury bonds at higher yields.The bank offered 1.5 billion rupees worth of 4-year bonds and 1.0 billion rupees worth of 5-year bonds to the market, but accepted only 500 million rupees worth of bids […]
India Shines
August 21, 2006 (LBO) – Sri Lanka’s Dutch Lanka Trailers has stepped up investments plans in India following a 2 million dollar equity injection through private investors last week. The privately held firm does not disclose its financials, but said sales and profits over the past 3-years have shown a compound average growth of 45 […]
Ticking Away
August 21, 2006 (LBO) — Depositors who have money and other assets in Sri Lanka’s bank have till the end of the month to reactivate their accounts, and prevent accounts being reported to the central bank has abandoned property, officials said.Parliamentarians representing the community in particular have raised objections to the takeover process. Bankers say […]
Trade Barriers
August 21, 2006 (LBO) – Sri Lanka has set an end September deadline to implement commitments under its trade deals with India, Pakistan and other South Asian countries. Sri Lanka was expected to phase out tariffs under its free trade deals with India and Pakistan this year, as well as under the South Asian Free […]
Chaos as Zimbabwe switches to new currency
HARARE, Aug 22, 2006 (AFP) – Zimbabweans struggled to offload soon-to-be worthless cash on Monday as chaos and confusion prevailed ahead of a midnight deadline to convert to a new currency aimed at combating galloping inflation.Banks extended their working hours to cater to crowds who came to dispose of their old notes while others went […]
Panda blog opens in China
BEIJING, Aug 21, 2006 (AFP) – A week-old giant panda cub has received her own blog as China seeks to raise public awareness about protecting the endangered animal, state media said Monday. The blog, named “Baby Panda Home”, has debuted on the Sina website. It features photos, regular updates on the panda’s growth and discussions […]