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Tourist arrivals to Sri Lanka continue to slide fighting escalates
May 21, 2007 (AFP) – The number of holidaymakers visiting Sri Lanka fell by nearly 20 percent in the first four months of this year as fighting between troops and Tamil rebels escalated, the tourism authority said Monday.Visitor numbers to Sri Lanka dropped to 167,674, down 19.9 percent over the corresponding period of last year. […]
At Last
May 21, 2007 (LBO) – Copies of Sri Lanka’s new Companies Act can now be downloaded from the Web and are available at the government publications bureau. A spokesman for the Registrar of Companies Department said the Companies Act No 7 of 2007, which came into affect on May 03, can be downloaded from their […]
Oil-rich Iran to ration petrol to get out of subsidy fiasco
TEHRAN, May 21, 2007 (AFP) – Oil-rich Iran is to delay a plan, scheduled to be implemented on Wednesday, to ration petrol and raise pump prices that is expected to have a profound impact on its economy, officials said.Iran has been unable to distribute sufficient rationing cards in time to consumers to execute the plan, […]
China makes equity investments from forex reserves
BEIJING, May 21, 2007 (AFP) – A new Chinese investment company charged with handling the nation’s bulging reserves has agreed to invest three billion dollars in US private equity company Blackstone, the American company said.Analysts have suggested that the new agency would start slowly while it refines its daily operations and so as not to […]
Kuwait cuts loose from sinking dollar
KUWAIT CITY, May 20, 2007 (AFP) – Kuwait on Sunday pegged its dinar to a basket of international currencies after more than four years of linking the local currency to the dollar, in a bid to reduce inflationary pressures.The oil-rich emirate had historically pegged the dinar to a basket of currencies before pegging it to […]
Oil exporting Iran prints enough money to drive inflation to 17%
TEHRAN, May 20, 2007 (AFP) – Iran’s inflation is set to rise to 17 percent this year with money supply growth continuing to soar, the central bank said on Sunday.A rate of 17 percent inflation in the Iranian year to March 20 would mark a 3.5 percentage point rise from the year earlier, amid rising […]
Sri Lanka hunt for Moody replacement
May 19, 2007 (AFP) – World Cup runners-up Sri Lanka have formally started looking for a replacement for outgoing cricket coach Tom Moody, officials said here on Saturday. “We have started today advertising for a replacement for Tom Moody,” Sri Lanka Cricket (SLC) spokesman Samantha Algama told AFP. He said notices would appear on international […]
Four dead in fresh violence in Sri Lanka
May 21, 2007 (AFP) – Four members of Sri Lanka’s security forces were killed and five wounded in separate attacks by suspected Tamil Tiger rebels on Monday, the defence ministry and police said. A mine that targeted troops travelling in a tractor in the northern district of Vavuniya killed two soldiers and injured four others, […]
Sri Lanka inflation may spike a little, but continue to fall: Central Bank
May 21, 2007 (LBO) – Though Sri Lanka’s inflation will continue to fall with tight monetary policy, there may be spikes due to administered price rises and seasonal factors, the Central Bank has warned. Sri Lanka’s inflation has come down steadily since the Central Bank virtually halted money printing to finance the budget deficit, but […]
G11 admits two great sins; promise “fiscal prudence and sound monetary policies” in future
SHUNEH, Jordan, May 19, 2007 (AFP) – G11 developing countries agreed at a summit Saturday on a framework to push for cooperation with G8 industrialised nations to ease their debts and build prosperous economies.“Our two organisations have a vital shared goal, to strengthen prosperity and peace in the 21st century,” Jordan’s King Abdullah II told […]
Sri Lanka rebels say no peace talks until fighting stops
May 20, 2007 (AFP) – Sri Lanka’s separatist Tamil rebels on Sunday vowed never to return to peace negotiations unless the government halts a military campaign against them. . The leader of the political wing of the Liberation Tigers of Tamil Eelam (LTTE), S. P. Thamilselvan, said attacks by government forces would not force them […]
Six killed in Sri Lanka fighting
May 20, 2007 (AFP) – Six people were killed and 10 others were wounded as government troops traded fire with Tamil Tiger rebels in Sri Lanka’s war-torn north, the defence ministry said Sunday.Security forces beat back an attempt by the Liberation Tigers of Tamil Eelam (LTTE) to break through the frontline at Muhamalai in Jaffna […]