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EU ceasefire monitors must go, Tigers tell Norwegian peace broker
June 21, 2006 (AFP) – Sri Lanka’s Tamil Tigers Wednesday told peace broker Norway that European Union ceasefire monitors must go following the EU’s outlawing of the rebels, as the country slid further towards war.Norway’s ambassador Hans Brattskar was told by Tiger leaders that monitors from Denmark, Finland and Sweden must go soon and that […]
Sri Lanka government issue dollar bond issue at lower rates
June 20 (LBO) – A Sri Lanka government dollar bond issue targeting local investors was oversubscribed Tuesday, allowing the government to roll-over maturing bonds at much lower rates. A 50 million dollar loan from Bank of Ceylon is also maturing on June 22nd which was issued at premium of 185 basis points above LIBOR. -LBO […]
Sri Lanka policy turns more hawkish
June 20, 2006 (Dow Jones)–Sri Lanka’s central bank signaled a more hawkish stance when it increased its policy rates sooner than expected last week.Although a return to a tightening had been anticipated, Friday’s surprise 25-basis-point increase each in the repurchase and reverse repo rates highlighted the authorities’ growing concerns over rising inflation. “This month’s increase […]
Tourists travel cautiously May arrivals show slow growth
June 20, 2006 (LBO) – Tourist arrivals to Sri Lanka showed slow growth in May as local violence grows and travel from some European and South Asian markets slide. Arrivals were up about 7.2 percent in May to 43,824 travellers over the same month last year, with top generating markets India and the United Kingdom […]
Govt talks to Russia for lower cost fertiliser imports
June 20 (LBO) – The government is in talks with Russia to source the country’s fertiliser needs at lower cost, bypassing local agents for international fertilizer companies. Direct buying would save the government money, Athuluwage said. The state owned Lanka Fertiliser Company usually calls for tenders for local supplies of fertiliser, with needs usually met through […]
Zipping Through
June 20, 2006 (LBO) – Sri Lanka Telecom, the island’s biggest fixed line operator, plans to rollout a 200 million rupee project next month to support high end data, voice, video and internet services, officials said Tuesday. Profits for the quarter were mainly driven by its CDMA (code division multiple access) operations, with SLT expecting […]
Calling Home
SINGAPORE, June 20, 2006 (AFP) – Future expansion in the mobile telephone business will come from developing economies whose less than affluent consumers cannot be overlooked while overall growth slows, experts said Tuesday.Income levels of consumers in the world’s poorer nations may not come anywhere near their wealthy counterparts but they offer far better growth […]
Tigers support peace drive, doubts over European monitors
June 20, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Tuesday reaffirmed their commitment to a truce despite surging violence, but said the future of ceasefire monitors from Denmark, Finland and Sweden is still in the balance.The rebel Liberation Tigers of Tamil Eelam (LTTE) said they would discuss the issue of ceasefire observers from European […]
Sri Lanka acuses tigers of attacking historic Buddist temple
June 20, 2006 (AFP) – Sri Lanka Tuesday accused Tamil Tiger rebels of attacking a historic Buddhist temple in the island’s east amid fresh moves by peace broker Norway to save their collapsing ceasefire.The rebel Liberation Tigers of Tamil Eelam (LTTE) fired small arms towards the Somawathi Buddhist shrine in the district of Polononaruwa on […]
Sri Lanka’s tourist board chief prevented from leaving the country
June 19, 2006 (LBO) – The chairman of the Sri Lanka’s tourist board was prevented from leaving the country at the Bandaranaike International Airport early Monday morning, an official said. Immigration officials had stopped Udaya Nanayakkara from leaving Sri Lanka on a complaint from the Bribery Commission, Controller of Immigration P B Abeykoon said. Nanayakkara […]