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US pledges military support to Sri Lanka, warns against war
June 1, 2006 (AFP) – The United States Thursday pledged “tangible military cooperation” with embattled Sri Lanka, but warned the government here against a return to war with Tamil Tiger rebels.Assistant Secretary of State for South and Central Asian affairs, Richard Boucher, said they will strengthen military ties with Sri Lanka, but worried that the […]
Party office bombed, two killed as US official visits Sri Lanka
June 1, 2006 (AFP) – An office of a Tamil political party was bombed in Sri Lanka’s restive eastern province and two party activists were gunned down elsewhere Thursday, the military said.The office of the pro-government Eelam People’s Democratic Party (EPDP) came under attack in the town of Batticaloa, 303 kilometres (190 miles) east of […]
Sri Lanka president calls on more nations to label Tigers terrorists
HONG KONG, June 1, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse Thursday called on more countries to follow the lead of the European Union and label the Tamil Tigers as a terrorist organization.In an opinion piece in the Asian Wall Street Journal, Rajapakse said foreign governments should do more to stop the flow of […]
Package Deal
Jun 01 (LBO) – The government has approved a restructuring plan for loss making Ceylon Electricity Board (CEB), which includes re-scheduling 60 billion rupees of its long term debt. Top officials said Thursday that 50 percent of the debt will be off-loaded to the Treasury, with CEB taking over repayment once the Norachcholai coal plant […]
Fitch upgrades Hatton National Bank’s credit outlook
May 31, 2006 (LBO) – Hatton National Bank Ltd, the island’s fourth largest lender in terms of assets, got its credit profile upgraded to ‘A+(lka)’ by Fitch Ratings Lanka. With a positive outlook, the upgrade also elevates HNBs subordinated debt to ‘A (lka)’ from ‘A-(lka)’, the rating agency said Wednesday. Fitch gave HNB good marks […]
Sri Lanka’s inflation rate climbs to 13.2% in May
May 31, 2006 (LBO) – Sri Lanka’s inflation rate for May rose as short supplies of consumer eatables like cream cracker biscuits, rice, bread, red onions, milk tea, fresh milk and dried chillies pushed prices up, the Census & Statistics Dept. said Wednesday. On a point-to-point basis inflation for May rose 13.2 percent over 9.2 […]
Bond yields rise, on rising inflation; tourism stocks drag Colombo bourse down
May 31, 2006 (LBO) – Stocks in Sri Lanka weakened as investors shied away from tourism related firms fearing a European wide ban on Tamil Tiger rebels and continuing violence would deter tourists from visiting the island, brokers said. Overall sentiment remained weak as investors were rattled over a two-hour artillery exchange between the rebels […]
‘s credit outlook
May 31, 2006 (LBO) – Hatton National Bank Ltd, the island’s fourth largest lender in terms of assets, got its credit profile upgraded to ‘A+(lka)’ by Fitch Ratings Lanka. With a positive outlook, the upgrade also elevates HNBs subordinated debt to ‘A (lka)’ from ‘A-(lka)’, the rating agency said Wednesday. Fitch gave HNB good marks […]
Work Anyone?
May 31, 2006 (LBO) – Sri Lankans make model workers, a local study shows, with most happy in their jobs, with their pay and are content to stay there. Their grouse, if at all, is sick leave. But though employees were happy with their pay, other benefits did not go down well, sick leave and […]
Muralitharan told to carry on
NOTTINGHAM, May 31, 2006 (AFP) – Muttiah Muralitharan has been told to keep his remarkable career going for as long as possible by Sri Lanka team-mate Michael Vandort. Off-spin great Muralitharan has said in the build-up to this week’s third Test that he is determined to “go out in England on a high”, suggesting that […]