Author: LBO
Sri Lanka’s Central Bank reports highest ever cash outlay last week
Apr.19 (LBO) – Sri Lanka’s Central Bank issued 165 billion rupees in cash, the highest ever so far, to meet last week’s New Year shopping spree, an official said Wednesday.“There was high demand for currency due to the holiday season and the recently concluded election,” the bank’s Senior Deputy Governor W A Wijewardene said. The […]
Norwegian mediator ‘frustrated’ by Sri Lankan parties
OSLO, Apr.18 (AFP) – The main mediator in the Sri Lankan conflict, Erik Solheim of Norway, said Tuesday he was frustrated by the government’s and Tamil rebels’ lack of flexibility, which he said was endangering talks aimed at saving a shaky truce.“I have to admit that we’ve become a bit frustrated these past few days […]
Blast and curfew mars Sri Lanka’s New Year
Apr.14 (AFP) – Two people were killed in fresh violence in Sri Lanka’s restive east on the traditional New Year day Friday and an indefinite curfew was clamped to maintain law and order, police said.The killing of a motorist sparked fresh rioting in the troubled port town of Trincomalee where police slapped the curfew after […]
Sri Lanka’s Central Bank maintained policy rates for the fourth straight month
Apr.12 (LBO) – Sri Lanka’s Central Bank Wednesday maintained policy rates for the fourth straight month as they are comfortable with economic expansion, though private sector credit demand has not shown signs of abating. The repurchase rate, which drains the money from the banking system, stays at 8.75 percent, while the reverse repurchase rate remains […]
Three shot dead in Sri Lanka’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 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 […]
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 […]
Norway’s new peace envoy opens talks with Sri Lankan rebels
Apr.05 (AFP) – Norway’s new peace envoy opened talks with Tamil Tiger rebels Wednesday as the Sri Lankan government’s key electoral partner renewed calls for removing Oslo from the negotiations.Jon Hanssen-Bauer, Oslo’s newly appointed emissary, travelled to the rebel-held northern town of Kilinochchi on Wednesday for discussions with the Liberation Tigers of Tamil Eelam (LTTE), […]
Jayasuriya’s Test career ends in pain
KANDY, Apr.04 (AFP) – Former Sri Lankan captain Sanath Jayasuriya ended his Test career on a painful note on Tuesday when he suffered a thumb injury during the second Test against Pakistan here. Jayasuriya, 36, needed several stitches on his right thumb that was split while catching Pakistani opener Imran Farhat in the gully region […]
Norway’s new envoy launches Sri Lanka peace mission
Apr.03 (AFP) – Norway’s new peace envoy to Sri Lanka began work Monday, discussing how to shore up a fragile ceasefire ahead of meetings with Tamil rebels and the government. -Amal Jayasinghe: win98win@ Jon Hanssen-Bauer, on his first visit to the island, went straight into meetings with experts from think-tanks and development organisations after his […]
Sri Lanka’s Jayasuriya announces retirement
Mar. 31 (AFP) – Sri Lanka’s veteran opening batsman Sanath Jayasuriya Friday said he would retire from Test cricket after next week’s match against Pakistan. -Amal Jayasinghe: win98win@ “I thought about it long and hard and decided that’s it. It’s a very emotional moment, but I guess every good thing has to come to an […]
Sri Lanka’s March inflation dips
Mar. 31 (LBO) – Sri Lanka’s annualised inflation eased to 9.6 percent in the twelve months to March from 10.3 percent in February, despite price hikes in the sales of firewood, sugar, meat and milk tea, the Census & Statistics Dept said Friday. The twelve month moving average is usually taken as the official inflation […]