Category: Economy and Markets
Sri Lankan begins probe in to suicide sinking of gunboat
Mar.26 (AFP) – Sri Lanka’s navy Sunday began a probe into a Tamil rebel attack on a gunboat that left eight sailors missing, presumed dead, military officials said. The defence ministry said the gunboat was blown out of the water as it approached a suspected Tamil Tiger trawler off the island’s northwestern coast on Saturday. […]
Monitors say gunboat sinking could push Sri Lanka back to war
Mar. 26 (AFP) – Scandinavian truce monitors have said that an alleged Tamil Tiger suicide attack which sank a navy gunboat and killed eight sailors could push Sri Lanka back towards war.The Norwegian-led Sri Lanka Monitoring Mission (SLMM) said they could not accept a denial by the rebel Liberation Tigers of Tamil Eelam (LTTE) of […]
Eight Sri Lankan sailors presumed dead in Tamil Tiger Suicide blast
Mar. 25 (AFP) – Eight sailors from the Sri Lankan navy were presumed killed Saturday when a group of suspected Tiger rebels blew themselves up and sank a navy gunboat that approached their trawler, the military said.Six suspected rebels were killed in the blast. The defence ministry said the sinking of the navy craft was […]
Sri Lanka on path to cut interest rates later this year
Mar. 24 (LBO) — Sri Lanka is likely to cut interest rates later this year, in a backdrop of declining inflation, a top bureaucrat who plays a key role in the country’s fiscal and monetary policies said Thursday. “There has been a consecutive drop in inflation over the past few months, which leaves room for […]
Sri Lanka taps international markets to change debt profile
Mar. 24 (LBO) — Sri Lanka is working on changing its debt profile, replacing old concessional loans with overseas borrowings and re-allocating low yielding foreign loans to other projects, the treasury secretary said Thursday. Treasury Secretary P B Jayasundara said the island was floating an international bond this year to raise between US$500 million to […]
Rights group concerned about Sri Lanka audit chief
Mar. 23(AFP) – The Asian Human Rights Commission Thursday said it was “gravely concerned” at public criticism of Sri Lanka’s audit chief who has exposed government corruption including mishandling of tsunami relief aid. The Hong Kong-based rights group in a statement said the organisation had asked President Mahinda Rajapakse to prevent any attempts to undermine […]
Tigers say Colombo curbs undoing Swiss talks
Mar 23(AFP) – The Tamil Tiger rebels Thursday accused Sri Lanka of endangering efforts to end ethnic bloodshed by imposing fresh conditions on their political activity.The Liberation Tigers of Tamil Eelam (LTTE) said the government had forbidden the rebels from flying their own flags on offices they want to re-open in military-held areas of the […]
”s Bank gets its credit rating upgraded to A-(sri)
Mar. 22 (LBO) – Sri Lanka’s state-run People’s Bank got its credit rating upgraded to A-(sri) by Fitch Ratings Lanka Ltd, who also revised the bank’s rating outlook to ‘positive’.An A-(sri) long term rating reflects low expectation of credit risk, but the bank is still vulnerable to changes in circumstances or in economic conditions than […]
Sri Lanka seizes suspected rebel trawler, firefight in Jaffna
Mar. 22 (AFP) – Sri Lanka’s navy detained a fishing trawler operated by suspected Tamil rebels off the island’s troubled northern waters Wednesday while troops and guerrillas exchanged fire in the Jaffna peninsula. The crew were being questioned by security forces after they were arrested while operating in a restricted zone off the island’s north, […]
Sri Lanka suspends lavish perks of former president
Mar. 21 (AFP) – Sri Lanka’s Supreme Court has ordered the withdrawal of extra cars and staff serving former president Chandrika Kumaratunga after a complaint that her retirement benefits are excessive, a court official said. Chief Justice Sarath N. Silva made the order Monday after launching an investigation into a complaint by three lawyers that […]
Sri Lanka navy denies Tiger rebel claim of attack on villages
Mar 216 (AFP) – Sri Lanka’s navy denied a charge by Tamil Tigers Tuesday that it fired indiscriminately at rebel-held villages in the northeast, saying the incident was a retaliatory strike. The rebel Liberation Tigers of Tamil Eelam (LTTE) said the navy launched an attack on four villages in the Trincomalee district on Monday morning. […]
Sri Lanka mock rescue ends in tragedy
Mar 20 (AFP) – A Sri Lankan airforce officer drowned Monday after falling from a helicopter during a search and rescue exercise, officials said.The man was descending down a cable when it snapped and sent him crashing into the Indian Ocean, a rescuer said adding that the training mission had turned into a real life […]