Category:
Sri Lanka seeks foreign cash for war-displaced
October 5, 2009 (AFP) – Sri Lanka will tap foreign donors to raise more cash to look after over 250,000 people displaced by its offensive against Tamil Tiger rebels, a minister said Monday.“We are drawing up a fresh appeal to meet our running costs next year that will include funds for livelihood support and resettlement […]
US responds to Sri Lanka protest over Clinton remark
WASHINGTON, October 4, 2009 (AFP) – The United States, responding to protests from Sri Lanka over remarks by Secretary of State Hillary Clinton, said it had no recent evidence of women being raped while in Sri Lankan government custody.Colombo faced condemnation for its handling of the final stages of the war against Tiger rebels and […]
Circular Debt
Oct 05, 2009 (LBO) – Sri Lankan government organisations owed the state-owned refiner, Ceylon Petroleum Corporation (CPC), 61 billion rupees in unpaid bills for fuel supplies by September 2009, CPC chairman Asoka Thoradeniya said. In the past losses from energy subsidies (both fuel and power), which increase debt in state banks and are then funded […]
Sri Lanka economic report out: IPS
Oct 05, 2009 (LBO) – Sri Lanka’s Institute of Policy Studies has released its annual analysis of the country’s economy looking at the impact of a downturn in 2008 and policies needed for recovery, the think tank said. IPS’s annual report, Sri Lanka: State of the Economy 2009, is themed on ‘Global Economic Crisis: Issues, […]
Key Players
Oct 05, 2009 (LBO) – Lanka Orix Leasing Company (LOLC) and Brown and Company Limited, two related parties may own 20 percent of Seylan Bank after a capital raising is concluded, a media report said.The Sunday Island newspaper quoting an unnamed source said LOLC and Browns had each applied for 10 percent of the expanded […]
South Asia frets over high food prices
NEW DELHI, October 4, 2009 (AFP) – Ambika Biswas looks at her grocery bag and winces.She is buying food for her family in one of New Delhi’s cheapest markets — yet her grocery costs are far higher than last year. Her maid’s income of 5,000 rupees (104 dollars) a month supports her two teenage children […]
Pilots fight crew in mid-air brawl on Indian flight: report
NEW DELHI, October 4, 2009 (AFP) – Air India said on Sunday it was investigating allegations of a mid-air brawl in which pilots and cabin crew were reported to have exchanged blows in front of startled passengers.The Times of India reported that crew members threw punches and hurled abuse at each other on the flight […]
Sri Lanka arrests bomb disposal soldier over school van blast: police
October 3, 2009 (AFP) – Sri Lankan police on Saturday arrested a soldier from a bomb disposal unit over the bombing of a school van which killed a student and wounded 12 others, an official said.The soldier was taken into custody following Friday’s attack in Kurunegala, 100 kilometres (62 miles) north of the capital Colombo, […]
Share Stakes
Oct 03, 2009 (LBO) – State-run Merchant Bank of Sri Lanka (MBSL) chairman Janaka Ratnayake owns a large stake in a Ceylinco group company in which the state bank has also invested an equal stake, a listed company filing has disclosed.The Finance Company (TFC), a troubled Ceylinco group firm which is also under MBSL management, […]
Deficit Finance
Oct 03, 2009 (LBO) – First of all it’s necessary to say, that there can be several definitions of budget deficits such as the structural budget deficit, the inflation adjusted budget deficit, the nominal budget deficit, the primary budget deficit, the budget deficit on current account and the over-all budget deficit. Each definition has its […]
Death tolls rise in disaster-struck Asia
MANILA, October 3, 2009 (AFP) – The death toll from a week of catastrophes in the Asia-Pacific rose to 1,680 Saturday as the region struggled to cope with a freak series of earthquakes, tsunamis and typhoons. At least 139 people were feared dead in Samoa alone, with 129 confirmed killed and 10 missing.Another 32 were […]
‘s rape remark
October 3, 2009 (AFP) – Sri Lanka lodged a protest over US Secretary of State Hillary Clinton’s remarks that rape had been used as a war tactic on the island, officials said Saturday.Colombo’s displeasure over a statement by Clinton to the United Nations Security Council was conveyed to US diplomats in the Sri Lankan capital, […]