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Adding Muscle
SINGAPORE, Apr.07 (AFP) – India, South Korea and Sri Lanka on Friday joined a regional cooperation pact against marine piracy in Asia, bringing to 11 the number of countries that have signed up, the Singapore government said.The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) is a Japanese initiative […]
Sri Lanka talks to go ahead despite killings: peace envoys
Apr.07 (AFP) – Norway’s top Sri Lankan peace envoys said they were confident new talks set for this month would go ahead despite the killings Friday of a pro-Tamil Tiger activist and two police guards.Vanniasingham Vigneswaran, who spearheaded the Tamil Resurgence Movement, a known front organisation of the rebel Liberation Tigers of Tamil Eelam (LTTE), […]
‘s east
Apr.07 (AFP) – A Tamil nationalist activist and two Muslim police guards were shot dead in Sri Lanka’s volatile eastern province on Friday, police said.Vanniasingham Vigneswaran, who spearheaded the Tamil Resurgence Movement in Trincomalee, was gunned down near the port town’s main bank in the morning. His movement had often clashed with the Sinhalese majority […]
Sri Lanka’s Sampath Bank gets credit upgrade from Fitch
Apr.06 (LBO) – Fitch Ratings Lanka has upgraded Sampath Bank long term domestic rating to AA- (sri) on an improving financial profile.“Concerted recovery efforts and improved credit risk management have resulted in a steady improvement in the bank’s asset quality and solvency position,” Fitch said. “The bank has halved its gross NPLs (non-performing loan) ratio […]
Sri Lanka’s future hangs on peace, lower public debt, inflation: ADB
Apr.06 (LBO) — Sri Lanka’s economy is expected to expand by 5.3 percent in 2006, but much of it hinges on peace, and cut backs on public debt, inflation and fiscal deficits, the Asian Development Bank said Thursday. The tsunami-hit island is still plagued with sharp escalation in rebuilding costs, while president Mahinda Rajapakse’s welfare […]
‘s Sampath Bank gets credit upgrade from Fitch
Apr.06 (LBO) – Fitch Ratings Lanka has upgraded Sampath Bank long term domestic rating to AA- (sri) on an improving financial profile.“Concerted recovery efforts and improved credit risk management have resulted in a steady improvement in the bank’s asset quality and solvency position,” Fitch said. “The bank has halved its gross NPLs (non-performing loan) ratio […]
Terminal Appeal
Apr.06 (LBO) – Engineers of the Colombo Port are urging the president to speed up a project to modernise the port’s computer system, which will improve efficiency and maintain its position as a hub port.The Sri Lanka Ports Authority Engineers Union has appealed to President Mahinda Rajapakse to fast track the process of commissioning a […]
Wider Reach
Apr.06 (LBO) – Norway plans to step up financial assistance in Sri Lanka following a request by President Mahinda Rajapakse to raise its profile in the island, peace envoy Erik Solheim said Thursday. Solheim, who is also Norway’s International Development Minister, said that Oslo’s financial assistance to Sri Lanka has so far mainly centered on […]
Second Life
Apr.06 (LBO) — Sri Lanka is going ahead with reviving Pramuka Bank and also setting up an institutional framework to recover debts of Pramuka and other state banks, Treasury Secretary P B Jayasundera said. -Jayantha Kovilagodage: jayantha@Â Pramuka Bank will be revived as the ‘Sri Lanka Savings Bank’ with the necessary legislation due to go […]
Adding Layers
Apr.06 (LBO) – Sri Lanka has sought a US$500 million loan from Saudi Arabia to double its oil refinery capacity, Energy Minister A H M Fowzie said Thursday. State-run Ceylon Petroleum Corporation (CPC) had presented a concept paper to the Saudi government, when a ministerial delegation visited the oil kingdom recently. “We asked for a […]