Category: Economy and Markets

A Sri Lankan soldier enraged over not being given home leave for the traditional New Year shot dead his superior officer and two colleagues Saturday, officials said. A Sri Lankan soldier enraged over not being given home leave for the traditional New Year shot dead his superior officer and two colleagues Saturday, officials said. The […]

The International Monetary Fund has trimmed Sri Lanka’s 2005 growth by 0.75 percent, and warned that there was little political will to tackle painful reforms. The International Monetary Fund has trimmed Sri Lanka’s 2005 growth by 0.75 percent, and warned that there was little political will to tackle painful reforms. In its semi-annual World Economic […]

The International Monetary Fund has trimmed Sri Lanka’s 2005 growth by 0.75 percent, and warned that there was little political will to tackle painful reforms. The International Monetary Fund has trimmed Sri Lanka’s 2005 growth by 0.75 percent, and warned that there was little political will to tackle painful reforms. In its semi-annual World Economic […]

Higher oil prices, the Indian Ocean tsunamis and patchy rains are expected to slow South Asia’s economic growth rate in 2005 to 6.5 percent from 7.1 percent logged in the past two years, the IMF said.Higher oil prices, the Indian Ocean tsunamis and patchy rains are expected to slow South Asia’s economic growth rate in […]

The tsunamis that slammed 11 Indian Ocean nations and killed an estimated 217,000 people could boost economic growth in hard hit countries thanks to reconstruction, the IMF said Wednesday.The tsunamis that slammed 11 Indian Ocean nations and killed an estimated 217,000 people could boost economic growth in hard hit countries thanks to reconstruction, the IMF […]

Sri Lanka’s president called Thursday for a deal with Tamil Tiger rebels on distributing aid to tsunami survivors, saying it would set the stage for a final agreement to end a decades-old separatist war.Sri Lanka’s president called Thursday for a deal with Tamil Tiger rebels on distributing aid to tsunami survivors, saying it would set […]

ADB today approved a US$197 million grant and loan package for two projects that will help rebuild tsunami- and conflict-affected areas of Sri Lanka. External funding for the projects will total $256 million including grant cofinancing by the European Commission and Sweden.   ADB today approved a US$197 million grant and loan package for two […]

An unidentified gunman shot dead a Tamil political activist in Sri Lanka’s restive northeast on Monday, further fuelling tension in the region.An unidentified gunman shot dead a Tamil political activist in Sri Lanka’s restive northeast on Monday, further fuelling tension in the region. Wijedasan Wijendran was gunned down as he returned from a Hindu temple […]

Tension has escalated in Sri Lanka’s restive northeast even as peace broker Norway was set to launch a fresh attempt to keep the two sides engaged in talks, officials and diplomats said Sunday.Tension has escalated in Sri Lanka’s restive northeast even as peace broker Norway was set to launch a fresh attempt to keep the […]

A powerful earthquake measuring 6.7 on the Richter scale struck off the west coast of Indonesia’s Sumatra island Sunday sparking panic among people fearing a repeat of the tsunami disaster, officials said. A powerful earthquake measuring 6.7 on the Richter scale struck off the west coast of Indonesia’s Sumatra island Sunday sparking panic among people […]

Tamil Tiger rebels Sunday released a government soldier they had captured overnight in Sri Lanka’s eastern district of Trincomalee, local officials said. Tamil Tiger rebels Sunday released a government soldier they had captured overnight in Sri Lanka’s eastern district of Trincomalee, local officials said. The rebel Liberation Tigers of Tamil Eelam (LTTE) handed the soldier […]