All Blogs
More deaths in Sri Lanka ahead of peace talks
Sept 16, 2006 (AFP) – Suspected Tamil Tiger rebels shot dead three civilians and a government soldier in separate incidents, the defence ministry said Saturday.The Tamil rebels are fighting for an independent homeland for the Tamil minority. More than 60,000 people have been killed in Sri Lanka’s bitter ethnic conflict since 1972.Two civilians were killed […]
Sri Lanka earns place among religious freedom violators
WASHINGTON, Sept 16 (AFP) – The United States on Friday classified six Asian countries as religious freedom violators, aside from China, Myanmar, North Korea and Vietnam already blacklisted as worst offenders in the region. Afghanistan, Brunei, India, Laos, Pakistan and Sri Lanka were included in a “significant” list of violators of religious freedom in the […]
Japan Power
SINGAPORE, September 16, 2006 (LBO) – Japan has come forward to help Sri Lanka expand its energy mix, with financial backing to build a liquefied natural gas power plant, a top official said. Sri Lanka’s Treasury Secretary P B Jayasundara says the government hopes to have an LNG (Liquefied Natural Gas) plant up and running […]
Worker remittances help Sri Lanka weather shocks
SINGAPORE, September 16, 2006 (LBO) – Workers’ remittances is turning out to be an attractive sources of foreign financing for countries like Sri Lanka, which can sometimes use them as a buffer against oil shocks, the International Monetary Fund said Saturday. But they may be of only limited value in absorbing shocks and reducing vulnerability […]
Oil prices bigger threat than terrorism to Sri Lanka : CB Governor
SINGAPORE September 16, 2006 (LBO) – Historically high global oil prices have overtaken a three decades old ethnic conflict to emerge as the biggest challenge Sri Lankan economy has to face in recent times, the country’s Central Bank governor said Friday. We like to keep the discussion channels open between the World Bank and the […]
‘s obsession with subsidies no help to the poor : Wolfowitz
SINGAPORE, Sept 16, 2006 (LBO) – The practice of Sri Lanka and other South Asian countries that spend massive public resources on subsidies do not help the poor, World Bank Chief Paul Wolfowitz said. “Subsidies are often given as an excuse to cushion the poor,” Wolfowitz said during an informal meeting with South Asian journalists […]
Sri Lanka’s central bank combats inflation with negative real rates
Sept 15 (LBO) – Sri Lanka’s central bank said it was not raising interest rates despite expanding money supply, rising inflation and real interest rates being negative. . The bank said it was holding the repo rate at which excess money is drained from the banking system at 9.125 percent, and reverse repo rate, the […]
Asian Trading
MANILA, Sept 15, 2006 (AFP) – The Asian Development Bank said Friday it has launched a 10 billion-dollar Asian currency note programme that would serve as the first platform for bond issues in regional currencies. Under the scheme, Asian currency bonds are issued in their domestic markets under a single unified framework with a common […]
’s peak winter tourist season
Sept 15 (LBO) – Arrivals to Sri Lanka from some European tourist markets saw another month of declines in August, but tour operators say possible peace talks this year could change that by winter. European travellers have been cautiously holding off on visiting the troubled island in the past few months, with top markets like […]
Zimbabwe inflation hits new record
HARARE, Sept 15, 2006 (AFP) – The annual rate of inflation in Zimbabwe reached a new record high of 1,204.6 percent in August, the central statistics office announced on Friday.The announcement of the new rise came after slight falls in the rate for June and July, which had raised hopes by central bank chief Gideon […]