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Sri Lanka hikes interest rates by 25 basis points to curb inflation
June 16, 2006 (LBO) – Sri Lanka’s Central Bank unexpectedly raised key interest rates by 25 basis points after a five month lag Friday, in a bid to curb inflation amidst soaring global oil prices.The next regular statement on monetary policy is scheduled for Friday July 14. Please click here to read Central Bank’s monetary […]
Calling Cabbies
June 16, 2006 (LBO) — Sri Lanka has structured a call option instrument, which allows investors to bid for nine taxi service licenses to be auctioned on the Colombo Stock Exchange, officials said.Bidding, which runs for nine days, is due to open on August 14 and investors have to put up a 25 million rupee […]
Sri Lankan warplanes pound Tamil Tigers
June 16, 2006 (AFP) – Sri Lankan air force jets bombarded suspected Tamil Tiger positions Friday for a second straight day after the rebels were blamed for a landmine blast that killed 64 people, a military official said.Warplanes bombed Tiger positions in the island’s northern and eastern regions at first light and again at last […]
Sri Lanka bombs rebels but vows peace
June 16, 2006 (AFP) – Sri Lanka’s president vowed not to allow the killing of 64 bus passengers derail the island’s peace process as the air force bombarded Tamil Tiger positions Friday for a second straight day. Security was stepped up in the main city of Colombo as the authorities prepared to hold a mass […]
Sri Lanka 1Q06 GDP over 7%
June 16, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy has expanded in excess of seven percent during the first quarter of this year, a senior government official said. “Economic growth has been very steady, growing at just over 7-percent for the first quarter of this year,” Secretary to the Policy Planning Ministry, Nivard Cabraal […]
Luxury Fleet
June 15, 2006 (LBO) – Sri Lanka Thursday sought interest from investors to bid for nine licenses to operator taxi services in the country, an official said. Those interested have been given two months to register and pick up a copy of the information memorandum. Starting August 14, the licenses will be issued via a […]
Namunukula Plantations sub-leases estates for a tea bottling project
June 15 (LBO) – Namunukula Plantations said Thursday that it had subleased its Uva range of estates to Tusker Bottling Company for 50 million rupees.With the sub-lease, TBCL also took over borrowings of 350 million rupees from Namunukula, the company said in a statement to the Colombo Stock Exchange.The up-country estates were handed over to […]
Lets Chat
June 15, 2006 (LBO) – India has called for a meeting with Sri Lankan vanaspati producers on Friday to iron out issues, in the latest saga that has brought trade relations between both nations to a boiling point. Sri Lanka™s shipments of vanasapati an edible oil mainly used for cooking purposes came to a standstill […]
Sri Lankan FM wants rebel leader tried for war crimes: report
OSLO, June 15, 2006 (AFP) – Sri Lankan Foreign Minister Mangala Samaraweera on Thursday said Tamil Tiger rebel leader Velupillai Prabhakaran should be tried for war crimes, Norwegian news agency NTB reported. “There is a great obstacle to peace in Sri Lanka, and it’s not the (rebel Liberation Tigers of Tamil Eelam) LTTE, it’s the […]
Claymore causes carnage in Sri Lanka hinterland
KEBITIGOLLEWA, Sri Lanka, June 15, 2006 (AFP) – The crowded bus was ferrying mothers and children to a free medical clinic in central Sri Lanka, but many ended up in a make-shift morgue after a landmine blast by suspected Tamil rebels.The yellow and green bus, meant to carry only 60 passengers, was already loaded with […]