Author: lbostgadmin
Warplanes bomb Tiger munitions dump amid Sri Lanka relief bid
Aug 22, 2006 (AFP) – Sri Lankan warplanes bombed a suspected Tamil Tiger munitions dump Tuesday as a ship prepared to sail with food for tens of thousands cut off by fighting in the besieged Jaffna peninsula.Israeli-built Kfir jets attacked a Tiger position close to the frontline of fighting in the northern district where rebels […]
Battle for Jaffna kills 646: Sri Lanka military
Aug 22, 2006 (AFP) – At least 159 Sri Lankan soldiers were killed and 485 were wounded while resisting a Tamil Tiger offensive against the northern peninsula of Jaffna, the military said Tuesday.During the 11-day offensive, the rebel Liberation Tigers of Tamil Eelam (LTTE) lost at least 487 of their fighters, military spokesman Prasad Samarasinghe […]
‘s economic woes
HARARE, Aug 22, 2006 (AFP) – Zimbabwe converted to a new currency Tuesday in a move aimed at stemming runaway inflation but analysts said it would do little to halt a downward spiral in the southern African country’s economy.The Reserve Bank slashed three zeros from its currency on July 31 and set a 21-day ultimatum […]
Still Stuck
August 22, 2006 (LBO) – Sri Lankan manufacturers of vegetable oil vanaspati say unsold shipments are stuck in Indian ports and in local factories after New Delhi unilaterally capped duty free imports. Exports earnings, the association says, are in the region of 700,000 dollars a day. Some 200 containers are stuck in Indian ports since […]
Sri Lanka rubber prices fall behind India, Thailand
August 22, 2006 (LBO) – Rubber prices in Sri Lanka have been dropping since July, following stiff competition from regional producers like Thailand and India. “Thailand being one of the biggest suppliers of rubber in the region has had better volumes from their crops, resulting in a drop in Sri Lanka’s rubber price,” Damitha Perera, […]
Four conferences in Sri Lanka cancelled on security fears
August 22, 2006 (LBO) – Four global conferences to be hosted by Sri Lanka later this year have been cancelled on security fears, though the island is confident it can woo at least half a million tourists by December. The events, including a textile conference, were to host at least a thousand people, Prathap Ramanujam, […]
Big Step
August 22, 2006 (LBO) – Commercial Bank of Ceylon Tuesday posted a 69 percent rise in group profits for the six months to June boosted by growth in net interest income and foreign exchange gains. Sri Lanka’s most profitable commercial bank said group post tax profits advanced 68.8 percent to 1,475.1 million rupees over the […]
Breaking Barriers
August 22, 2006 (LBO) – Sri Lanka’s long-suffering fund management industry is working with market regulators to promote closed-end funds and give an exit route to investors by listing units on the Colombo Stock Exchange, a senior official said Tuesday. In 2004, the Securities & Exchange Commission unveiled a new code for mutual funds which […]
Jaffna: The Tamil cultural capital turned killing field
Aug 21, 2006 (AFP) – Sri Lankan troops and Tigers are locked in fierce fighting over Jaffna, but analysts say the arid peninsula is of little real value to either party except as a symbol. Yet, more blood has been spilt over Jaffna than any other region in Sri Lanka. The latest fighting, which began […]
Monitors flee fighting amid fresh bid to save Sri Lanka truce
Aug 21, 2006 (AFP) – The monitors of Sri Lanka’s collapsing truce were retreating to Colombo amid fierce fighting as the nation’s financial backers met the president to press for a return to peace talks, officials said Monday.Clashes continued between government troops and separatist Tamil Tiger rebels amid growing concern over food shortages in parts […]
Ancient Indian port with links to Roman Empire faces extinction
PATTANAM, India, Aug 21, 2006 (AFP) – Pottery shards, beads, Roman copper coins and ancient wine bottles litter the strata beneath this small seaside village in India’s southern Kerala state.The 250 families, mostly agricultural labourers, who live in Pattanam, 260 kilometers (161 miles) north of Kerala’s capital Thiruvananthapuram, find the objects pretty, but would rather […]