Author: lbostgadmin
‘s inflation rate soars to new high
HARARE, June 9, 2006 (AFP) – The inflation rate in economically-ravaged Zimbabwe soared to a new record high of 1,193.5 percent for May, officials said on Friday, with economists predicting even higher rates in the coming months. “The year-on-year rate of inflation in May 2006 was 1,193.5 percent, gaining 150.6 percentage points on the April […]
Last Resort
June 9, 2006 (LBO) – Sri Lanka’s CBNSat a local cable television operator — is appealing to customers to be patient while they engage in a court battle aimed at re-starting operations. Sleuths from the criminal investigation department switched off the equipment at CBNSat’s affiliate company SonicNet technology, bringing its activities to a halt. The […]
Sri Lanka shelves plans for medium-term sovereign bond
June 9, 2006 (LBO) – Sri Lanka has shelved plans to raise up to a billion dollars and fall back on smaller tranches, with shorter maturities, a senior treasury official said Friday. The government was hoping to float a 7 to 10-year, sovereign bond to pay off about 300 million dollars of bonds owed to […]
Collapse of Sri Lanka, Tamil Tigers talks to protect truce observers
OSLO, June 8, 2006 (AFP) – Norwegian officials meeting Sri Lanka government representatives and Tamil Tigers rebels said on Thursday the talks broke down when they failed to orchestrate a face-to-face encounter between the two sides.Peacebroker Norway called the two-day talks amid fears for the safety of the 60-member Sri Lanka Monitoring Mission (SLMM), which […]
Blast kills army officer in Sri Lanka, rival Tigers clash
COLOMBO, June 8, 2006 (AFP) – Suspected Tamil Tiger rebels set off a mine in northern Sri Lanka Thursday, killing an army officer, and clashed with a rival faction elsewhere leaving at least 15 dead, military officials said. There was no immediate comments from the Tigers about military claims of internecine clashes. On Wednesday, eight […]
Upsurge in violence as Sri Lanka parties hold talks in Oslo
June 8, 2006 (AFP) – Violence surged in Sri Lanka with at last 16 people reported killed Thursday hours before talks opened in Oslo between the Colombo government and Tiger rebels on their collapsing truce, officials said.Defence officials said the rebel Liberation Tigers of Tamil Eelam (LTTE) set off a powerful Claymore mine in northern […]
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LONDON, June 8, 2006 (AFP) – Sri Lanka is looking to Pakistan for help to bolster its military capabilities as the ceasefire between the government and rebels appears increasingly fragile, specialist publication Jane’s Defence Weekly said Thursday. Sri Lanka has asked Pakistan to facilitate the purchase of military equipment worth around 60 million dollars (47 […]
Sri Lanka, Tamil Tigers talks to protect truce observers break down
OSLO, June 8, 2006 (AFP) – Norwegian officials meeting with Sri Lanka government representatives and Tamil Tigers rebels said on Thursday talks broke down when they failed to bring about a face-to-face encounter between the two sides. Peace broker Norway called the two-day talks amid fears for the safety of the 60-member Sri Lanka Monitoring […]
Time not ripe yet for Indian mangoes to hit US
WASHINGTON, June 8, 2006 (AFP) – Americans have to wait probably another year before they can relish succulent Indian mangoes. More than three months after President George W. Bush told Indian Prime Minister Manmohan Singh that “the United States is looking forward to eating Indian mangoes,” Washington has still not decided to open the doors […]
Trade Swap
June 08 (LBO) – The Asia Pacific Trade Agreement between six Asia Pacific countries including Sri Lanka will kick off on July 1 this year, offering deep tariff cuts on several goods. Sri Lanka will enjoy margins of preference of up to 50 percent on goods like coconut products, spices, tea and rubber to Bangladesh, […]
Cinnamon trees sprout again in tsunami-hit Sri Lanka village
HIKKADUWA, Sri Lanka, June 8, 2006 (AFP) – Eighteen months after the tsunami uprooted centuries-old cinnamon plantations in a country where the golden cash crop is a vital source of income, the trees are sprouting “like magic”. Part-time cinnamon planter Wimalawathi Mendis thought her modest plot was doomed when much of her village, Malawenna, just […]
New Broom
June 08 (LBO) – The newly set up, state-sponsored Lanka Puthra Development Bank is to begin operations by the end of this month, but the bank, which has no branch network, has to find a way to reach rural customers. We will provide loans of a million rupees and more, at competitive interest rates for […]