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Sri Lanka minus stars for Pakistan encounter
May 6, 2007 (AFP) – Sri Lanka will be without some of its star players for the three-match one-day series with Pakistan in Abu Dhabi later this month, a senior official said here Sunday. The 2007 World Cup runners-up team which will play matches with Pakistan from May 18-22 in Abu Dhabi will be without […]
Sri Lanka foreign policy think tank to focus on counter-terrorism
May 06, 2007 (LBO) – Sri Lanka’s foreign minister has revamped the management of a key foreign affairs think tank meant to serve as a link between strategy and decision making, with a key focus on counter-terrorism. But both sides are under international pressure to resume peace talks and end human rights violations. The Lakshman […]
Sri Lanka floods leave tens of thousands homeless
May 6, 2007 (AFP) – More than 125,000 people have been driven out of their homes and 16 killed following flash floods in the Sri Lankan capital and neighbouring areas, officials said Sunday. The Disaster Management Centre said at least 50,000 residents of Colombo were affected by heavy rains on Thursday and Friday. More than […]
10 killed in fresh Sri Lanka violence
COLOMBO, May 6, 2007 (AFP) – A landmine detonated by Tamil Tigers killed three police commandos in eastern Sri Lanka on Sunday while seven suspected rebels died elsewhere in the embattled region, the defence ministry said.The Liberation Tigers of Tamil Eelam (LTTE) attack blew up a police Special Task Force vehicle in Batticaloa district killing […]
Profit Warning
May 05, 2007 (LBO) – Emirates, which owns 40 percent of SriLankan Airlines has warned its main shareholder, the Dubai government, that profits of the South Asian associate will fall in 2007. “SriLankan faces another difficult year ahead and unless a solution is found to the ongoing security situation, there may not be a significant […]
Ultimate Aim
May 5, 2007 (LBO) – An amendment effected to the Monetary Law Act in 2002 requires the Central Bank of Sri Lanka to pursue ˜economic and price stability’ as one of the two core objectives of the Bank. The writer is the Deputy Governor of the Central Bank of Sri Lanka This is somewhat a […]
Sri Lankan navy says Tiger boats sunk
COLOMBO, May 5, 2007 (AFP) – Sri Lankan naval craft sank two suspected Tamil Tiger boats off the island’s northeastern coast Saturday, inflicting heavy losses on the guerrillas, a navy official said. Patrol craft engaged a flotilla of the Liberation Tigers of Tamil Eelam (LTTE) off the coast of Pulmoddai and sank two out of […]
Sri Lanka faces worsening fiscal policy and investment risks as conflict intensifies
May 05, 2007 (LBO) – The use of air power by Tamil Tiger guerrillas has raised the stakes in investing in Sri Lanka and prospects of higher defence spending is increasing fiscal risks, analysts said. Sri Lanka needs fiscal discipline and increases in turnover based value added tax (VAT) rates and its base to solve […]
Sri Lanka rupee closes at a record low, stocks edge down amidst war jitters
May 04, 2007 (LBO) – The Sri Lanka rupee closed at a record low against the dollar Friday while stocks edged lower with jittery investors remaining on the sidelines, dealers said. Spot dollar closed at 110.85 rupees, the lowest this year, showing a depreciation of 3.11 percent for the year with the rupee starting at […]
Sri Lanka aims to raid piggy banks as coins rise in value
May 4, 2007 (AFP) – Sri Lankan children are being encouraged to raid their piggy banks in a bid to end a serious shortage of loose change in a country where inflation is making coins worth more than their face value.State-owned banks are offering colour pencils, felt pens, drawing paper and books to children who […]
Watery Depression
May 04, 2007 (LBO) – Heavy rains lashed Sri Lanka’s capital for the second day, putting large areas under water, while the authorities closed part of the main road from Colombo to the south when a section caved in. Weather officials say rain caused by a depression in the Bay of Bengal may continue for […]
New Sked
May 04, 2007 (LBO) – SriLankan Airlines is re-scheduling all its flights ahead of the closure of Colombo airport during the night, the airline said Friday. “Following discussions with the Ministry of Ports and Aviation and the Department of Civil Aviation, SriLankan Airlines will be rescheduling its flights to operate between 5.00 am and 9.00 […]