Category:
Tie-breaker
August 03, 2006 (LBO) – Sri Lanka and India made a breakthrough in crisis talks held this week to resume duty free exports of vanaspati oil to India. The new terms will have to be approved by Sri Lanka™s Cabinet, but the commerce ministry is in agreement, Ratnayake says, adding that the terms are reasonable. […]
Hidden Surprise
August 3, 2006 (LBO) – Sri Lanka Telecom is expecting a 75 percent rise in full-year net profits as its cellular subsidiary makes a quick turnaround, which helps off-set sudden costs to trim its workforce, officials said Thursday. Mobitel, the firm’s cellular subsidiary, is turning the corner, after narrowing down six month losses to 190 […]
Political memoir sparks nuclear spy chase in India
NEW DELHI, Aug 3, 2006 (AFP) – In India’s rough and tumble political world he was always the “gentleman politician”. But now, former foreign minister Jaswant Singh stands accused of sparking a spy chase that has gripped India in a bid to boost sales of his just-released memoirs “A Call to Honour”. The book has […]
Peace broker Norway offers help to Sri Lanka victims
Aug 3, 2006 (AFP) – Sri Lanka’s peace broker Norway Thursday announced a pledge of 1.5 million dollars to help civilians caught up in the island’s latest upsurge in violence. The Norwegian government, in a statement issued in Colombo, said Oslo would provide the assistance in humanitarian aid through the International Committee of the Red […]
Muslim civilians killed as as Sri Lanka battle for water intensifies
TRINCOMALEE, Sri Lanka, Aug 3, 2006 (AFP) – At least 17 Muslim civilians were killed and another 60 wounded Thursday when shells landed on the schools in which they were sheltering during fierce fighting between Sri Lankan troops and Tamil Tiger rebels, military officials said.Local officials said troops had not managed to reopen the sluice […]
Fresh violence claims another 21 lives in Sri Lanka
Aug 3, 2006 (AFP) – Seventeen civilians and four police were killed in artillery attacks in Sri Lanka’s northeastern Muslim town of Muttur on Thursday, military officials said.The civilians were killed when shells hit three schools where they were sheltering after security forces asked them to move to public buildings while troops mopped up Tamil […]
‘s ethnic conflict
Aug 3, 2006 (AFP) – Sri Lanka’s long conflict between the government and ethnic Tamil rebels is rooted in the nation’s colonial past, but the bloodshed remains an intractable problem of the present.At least 60,000 people are believed to have been killed since 1972 when a disgruntled school dropout, Velupillai Prabhakaran, formed the militant group […]
Norway launches new peace bid as Sri Lankan fighting spreads
Aug 3, 2006 (AFP) – Fighting between Sri Lankan troops and Tamil Tiger rebels for control of a vital waterway spread Thursday, as peace broker Norway launched a fresh bid to prevent a return to full-scale war. Local officials said troops had not managed to reopen the sluice gates as the area is heavily mined. […]
Rights group says Sri Lanka pullout “devastating”
HONG KONG, Aug 3, 2006 (AFP) – A rights watchdog said Thursday that Nordic countries pulling their peace monitors out of Sri Lanka had dealt civilians a “devastating blow” and called for nations to send replacements.“With the dramatic increase in violence in Sri Lanka, more international monitors are needed, not fewer,” said Brad Adams, Asia […]
Merchant Bank of Sri Lanka picks up AA3 rating
August 2, 2006 (LBO) – Merchant Bank of Sri Lanka Wednesday picked up an AA3 rating from Lanka Rating Agency for their long-term senior debt, the agency said.MBSLs liquidity position had also improved significantly during the year whilst its gearing ratio had been maintained at 1.25 times its shareholders’ funds. The agency, which gave the […]
Going Nowhere
August 02 (LBO) – Sri Lanka’s first toll road is still on the shelf without funding, with the government saying they will even consider commercial loans just to get the project going. The project was to go ahead with Chinese government funding lent on concessionary terms, built by a Chinese contractor. The country’s Road Development […]
’s Nest
August 2, 2006 (LBO) – Sri Lanka’s Central Bank Wednesday said balances of dormant accounts taken over by can be claimed back by their rightful owners. According to bankers there are around 30 million dollars worth of unclaimed property and goods waiting to be claimed. In July the government announced it was taking possession of […]