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State Freeze
The President on Wednesday declared a State of Emergency, a day after she sacked three key ministers and suspended Parliament. President Kumaratunga used her executive powers to declare a State of Emergency for a period of ten days, the maximum possible without Parliamentary sanction.rn rnThe powers give security forces sweeping authority to arrest and detain […]
Soft Landing
Software giant Microsoft Corp on Wednesday announced a multi-million dollar tie-up with Sri Lanka, to provide education, training and an eventually set up a development unit. Microsoft will provide investments over a five year period, the Sri Lankan Embassy in Washington said in a release.rn rnThe deal was stitched up during Prime Minister Ranil Wickremesinghes […]
Oval Blessings
President George W. Bush on Wednesday praised Sri Lankan Prime Minister Ranil Wickremesinghes “leadership,” a day after President Chandrika Kumaratunga exploited the premiers absence to ignite a constitutional crisis. Fresh from the endorsement delivered at Oval Office talks, Wickremesinghe promised to sort out the turmoil unleashed when Kumaratunga sacked three ministers, suspended parliament and sent […]
Free Fall
Investors are bracing for a brutal fall in share prices in Thursday trading, following up on the over 18 percent drop in the ASPI over two days. The stockmarket plummeted through Tuesday and Wednesday trading on news that the President had sacked three key Ministers from their posts sand was mooting plans to take control […]
Buying Support
The Sri Lanka Muslim Congress (SLMC) leader Rauff Hakeem says his party will back the UNF government only on conditions put forward by his party. Conditions include Muslims being recognised as a separate and independent participant and that the partys proposals for an interim administration are considered at peace talks with the Liberation Tigers of […]
Rotting Deal
The Finance Minister in an emergency meeting with the press on Wednesday said fertiliser subsidies was to be increased significantly from the Rs. 2 billion allocation this year.rn rnChoksy said the farming community deserved an increased subsidy, given the two subsequent bumper harvests. rn rnThe relief measure however, goes against earlier statements from related Ministries, […]
Small Wallet — Updated
Sri Lanka is tipped to head for a mini budget as signs of the UNF budget making its way to Parliament this year, diminish.rnrnrnGovernment finances run on a calendar year and a Vote on Account (mini budget) is needed to ensure the administration runs for an interim period.rn rnPresident Chandrika Kumaratungas move on Tuesday to […]
Starlight
Dubai-based Emirates Airline has set its sights on the stars — literally — to help it offer new levels of comfort and enjoyment to travellers on ultra-longhaul flights from next month.In an industry first, an image of the night sky above Dubai, complete with twinkling constellations, will be shown on the ceiling panels above their […]
High Altitude
lquote Countdown to takeoff; passengers are now boarding for the first commercial Hot Air Balloon flights, taking off over Sigiriya this Saturday.The first commercial balloon flights were given the go-ahead on Tuesday, to start flights over some of Sri Lankas key tourist towns.rn rnldblquote We hope to commence our inaugural flights over Dambulla-Sigiriya and from […]
Peace Accord Holds
The Norwegian-brokered ceasefire pact between the Sri Lankan government and Tamil Tiger guerrillas will stand despite President Chandrika Kumaratunga taking over the defence ministry, a presidential adviser said Wednesday. “The president has specifically asked me to state that the ceasefire agreement stands and will stand and there is no question about it,” Lakshman Kadirgamar, international […]