Category:
‘s warring parties say heavy battles in north
Dec 30, 2007 (AFP) – Sri Lanka’s security forces and Tamil rebels were locked in fierce fighting Sunday in the island’s north with both sides claiming to have inflicted heavy losses against the other. The defence ministry said troops killed at least 33 members of the Liberation Tigers of Tamil Eelam (LTTE) and wounded another […]
Banking Credibility
Dec 29, 2007 (LBO) – The International Monetary Fund (IMF) has raised doubts about the independence of Sri Lanka’s central bank and its ability to regulate banks fairly due to the presence of a Treasury representative which creates a conflict of interest. “¦the Monetary Board’s independence could be potentially constrained by the presence of the […]
‘l help in Bhutto probe
ISLAMABAD, Dec 29, 2007 (AFP) – Pakistan’s interior ministry said Saturday that the international community “does not understand the environment” in the country, ruling out international help in probing Benazir Bhutto’s death.With questions raised about the official account of how she died, which has been rejected by Bhutto’s aides and supporters, ministry spokesman Brigadier Javed […]
IMF says dollar losing ground in global forex reserves
WASHINGTON, Dec 28, 2007 (AFP) – The dollar is losing ground as the currency of choice in the world’s foreign exchange reserves, the International Monetary Fund said Friday. The dollar’s share of forex reserves was 63.8 percent in the third quarter, compared with 65.0 percent in the second quarter and 66.5 percent in the 2006 […]
Venice holds its breath for giant New Year kiss
ROME, Dec 28, 2007 (AFP) – Tens of thousands of people are expected to take part in a giant New Year’s kiss in front of Saint Mark’s Basilica in the romantic Italian city of Venice, the authorities said Friday. “New Year 2008 in Venice will become the New Year of love,” the Venice municipality said […]
Sri Lanka defence secretary calls for formal end to truce
Dec 29, 2007 (AFP) – Sri Lanka’s defence secretary said the government should formally pull out of a ceasefire with Tamil Tiger rebels amid escalating fighting in the island, a state-run daily reported Saturday. A 2002 Norwegian-brokered truce began to unravel in December 2005 and both sides have blamed each other for the mounting violence […]
Sri Lanka money rates spike above penal discount rate
Dec 28, 200 (LBO) – Sri Lanka’s overnight rates spiked to 21 percent despite two discount windows that give money at 12.00 percent and 19.00 percent, while a bond auction was rejected by the government’s debt office Friday, dealers said. The debt office was again fishing for money offering bills on ‘tap’ at around 21.30 […]
Pension Problem
Dec 28, 2007 (LBO) – The International Monetary Fund has criticised delays in reforming Sri Lankan state sector pension schemes and urged government to regulate private pension funds. It also urged the government to allow large pension funds to expand their private securities portfolio in order to develop the securities market, and make them more […]
” on Qaeda claim over Bhutto killing
ISLAMABAD, Dec 28, 2007 (AFP) – Pakistan’s interior ministry said Friday it was “unaware” of Al-Qaeda claiming a link to Benazir Bhutto’s killing but said “extremist elements” behind a wave of attacks this year could be responsible.Asked about a report on Pakistan’s ARY TV network that the militant group founded by Osama bin Laden was […]
Money printing Zimbabwe see year of record inflation, price controls and shortages in 2007
HARARE, Dec 27, 2007 (AFP) – After a year which saw the official inflation rate surge to 8,000 percent, shelves run dry and opposition leaders beaten up, few people in Zimbabwe can wait to see the back of 2007. While veteran President Robert Mugabe hopes to secure a seventh term of office in elections next […]
Sri Lanka judge raps police in probe of unruly minister
Dec 28, 2007 (AFP) – A Sri Lankan judge reprimanded police Friday for failing to thoroughly investigate a minister who sparked a riot at the state-run television channel after allegedly assaulting a journalist.Colombo Chief Magistrate Mohamed Macky said he was not happy with a police report into Thursday’s alleged assault by Labour Minister Mervin Silva […]
Sri Lanka says 25 Tigers killed in clashes
Dec 28, 2007 (AFP) – At least 25 Tamil Tiger rebels were killed in fresh military attacks along the de-facto border of territory held by the guerrillas, the defence ministry said Friday. The members of the Liberation Tigers of Tamil Eelam (LTTE) were killed in four separate attacks in Vavuniya district on Thursday, the ministry […]