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Sri Lanka has chance for political settlement now: US Ambassador
Dec 20, 2007 (LBO) – One of the best ways to combat poverty and inequality in Sri Lanka is to complete the all party process and the government has been given that opportunity with the passing of the budget, the United States envoy in Colombo said. Completing All Party Representatives Committee (APRC) will also lay […]
Northern Hunt
Dec 20, 2007 (LBO) – Sri Lanka plans to invite oil companies to explore for petroleum deposits in new areas in the north of the island, a senior minister said, where Tamil Tiger rebels are active. The petroleum ministry has been given the government nod to kick off exploration in the Sri Lankan side of […]
Air Battle
Dec 19, 2007 (LBO) – Sri Lanka has decided to revoke the work permit of SriLankan Airlines chief executive Peter Hill, an official said.The Board of Investment chief Dhammika Perera said the action was taken was in the public interest after a request from the airline’s main shareholder was turned down. A government spokesman said […]
Sri Lanka urged to go for a deposit insurance scheme
Dec 19, 2007 (LBO) – Sri Lanka should introduce a compulsory deposit insurance scheme to strengthen the banking system and provide a public safety net, the International Monetary Fund has said. “The existing voluntary scheme is not used, and the fact that the one bank to have failed in the past few decades had been […]
Sri Lanka power utility looks for savings, amidst political bungling
Dec 19, 2007 (LBO) – Sri Lanka’s state power utility is launching a public campaign to conserve power as it is faced with rising generation costs and controlled tariffs that are driving it towards record losses, officials said. Years of political interference, which delayed the construction of coal plants, has meant that the Ceylon Electricity […]
Roots of democracy sold for US$21mn
NEW YORK, Dec 18, 2007 (AFP) – One of only 17 existing copies of the Magna Carta, an 800-year-old English royal manuscript setting out the rights of man, sold at auction at Sotheby’s in New York Tuesday for 21.3 million dollars. Arguably the most important document ever to be auctioned, the iconic vellum manuscript was […]
Arctic towns make a killing on Santa Claus
ROVANIEMI, Finland, Dec 19, 2007 (AFP) – SantaSport, SantaFood, SantaPark, Hotel Santa Claus, Santa Hair Center: in the Finnish Arctic town of Rovaniemi Father Christmas is everywhere, milked to the max by local businesses.“Christmas tourism is a magnet for investments,” says Tuula Rintala-Gardin, the head of tourism for the municipality of Rovaniemi, a town of […]
‘s Jayawardene torments England in final Test
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Skipper Mahela Jayawardene became Sri Lanka’s leading century-maker on Wednesday to dampen England’s hopes of a series-levelling win in the third and final Test here. Jayawardene was unbeaten on 149 as Sri Lanka, taking advantage of a butter-fingered English display, carried their overnight score of 147-4 to […]
‘s Jayawardene, Dilshan punish England fumbles
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene was one run away from becoming his country’s leading centurion as England paid dearly for missed chances in the third Test here on Wednesday.Jayawardene was unbeaten on 99 as Sri Lanka took their overnight total of 147-4 to 287-6 by tea on […]
Sri Lanka police say blast near train
Dec 19, 2007 (AFP) – A trackside blast hit a passenger train in northeastern Sri Lanka Tuesday, but there were no casualties, police said.The incident occurred at Kantalai in the port district of Trincomalee, a police official in the area said by telephone. “There was some sort of an explosion by the side of the […]
Sri Lankan industrialists demand protection
Dec 19, 2007 (LBO) – Sri Lankan industrialists and leftwing politicians have called for protection as an opening economy that is integrating with the world threatens to give cheaper goods to consumers and put them out of business. However, Commerce Department officials said the opening up of the economy in recent years had given the […]
Sri Lanka economy expands 7.0 pct in third quarter
Dec 19, 2007 (LBO) – Sri Lanka’s economy has expanded 7.0 percent in the third quarter up from 6.4 percent in the second quarter, putting the country on track to clock up 6.7 percent growth in 2007, officials said. However, growth slackened from the 7.7 percent for the same quarter in 2006 with a downturn […]