Author: lbostgadmin
Nordic monitors to stop Sri Lanka truce violation rulings
June 20, 2007 (AFP) – Nordic monitors in Sri Lanka said Wednesday they would stop issuing rulings on government or Tamil Tiger violations of a 2002 truce that is no longer being respected.The decision comes after more than a year of escalating fighting between Sri Lankan government troops and the rebel Liberation Tigers of Tamil […]
Sri Lanka says it can shoot down rebel aircraft
June 20, 2007 (AFP) – Sri Lanka’s military now has the capacity to shoot down Tamil Tiger light airplanes which have bombed four targets on the island this year, the government said Wednesday. The enhanced capability means the island’s only international airport will soon reopen for night flights after its closure earlier this year as […]
Split Path
June 20, 2007 (LBO) – Two Colombo-listed firms have opted to split their shares after a new law forced the companies to withdraw an earlier decision to give what was called a ‘bonus share’ to shareholders. One firm, Seylan Merchant, also abandoned a dividend payment after a solvency test specified in the new company law. […]
Money for new Sri Lanka ministers passed
June 19, 2007 (LBO) — Sri Lankan government Tuesday narrowly secured parliamentary approval to raise the national budget amidst chaos in the house when two former ministers crossed over and joined opposition ranks.The Tigers have declined to comment on the allegations that over 15 million dollars was paid to the Liberation Tigers of Tamil Eelam […]
Two Sri Lanka former ministers join opposition ranks
June 19, 2007 (LBO) – Two former Sri Lankan government ministers crossed to the opposition benches of the parliament Tuesday, deepening divisions in the ruling coalition. Mangala Samaraweera and Sripathi Sooriyarachchi, who were sacked from their portfolios after differences with President Mahinda Rajapakse, took their seats on the opposition benches on Friday morning. Samaraweera explained […]
IMF changes rules of the currency game, as US imbalances worsen
WASHINGTON, June 19, 2007 (AFP) – The International Monetary Fund has launched a new surveillance system on exchange-rate policies aimed at preventing a country from jeopardizing the health of the global economy.The IMF said the major reform updates a 30-year-old program and targets currency manipulation that could destabilize trade and private capital flows. However, IMF […]
IMF changes currency rules to spread the cost of US adjustment
June 19, 2007 (LBO) – The International Monetary Fund has said it is changing rules of global currency management effectively forcing countries with tighter policies to adjust, as imbalances in the United States continue to build up. “If investors become suddenly unwilling to hold U.S. financial assets at prevailing exchange rates and interest rates, this […]
Imagine Cup
June 19, 2007 (LBO) – Sri Lanka’s young software developers lack resources but not dedication or talent, says former winners of a students technology competition promoted by the software giant, Microsoft. The Imagine Cup encourages young people to apply their imagination, passion and creativity to develop technological solutions to real world issues, say its organizers. […]
Fund Power
June 19, 2007 (LBO) – Institutional investors in Sri Lanka’s small stock market still lack the strength to influence managements of listed firms on issues like corporate governance, a top fund manager said. Unit trusts or mutual funds still hold only a small slice of the equities on the Colombo bourse, according to S. Jeyavarman, […]
Normal Operations
June 19, 2007 (AFP) – Sri Lanka’s only international airport is to resume around-the-clock operations after air raids by the Tamil Tiger rebels forced its closure at night, an official said Tuesday. The Tamil Tiger rebels have been fighting for a separate homeland since 1972. More than 60,000 people have been killed in the conflict.The […]
‘s Tamil Tigers make fresh pledge to free child soldiers
June 18, 2007 (AFP) – Sri Lanka’s Tamil Tiger rebels on Monday made a fresh pledge to rid their ranks of child soldiers by the end of the year.The rebels, classified as one of the worst offenders in the world for the recruitment of children to fight, made the same promise in 1998 but have […]
Erosion of media freedom and human rights in Sri Lanka under watchdog eye
June 18, 2007 (LBO) – An international mission by rights bodies will take place later this month to asses the deteriorating media freedoms and human rights in Sri Lanka, the Free Media Movement (FMM) said Monday. FMM said the mission made up of 11 bodies including the International Federation of Journalists (IFJ), International Media Support […]