Category:
Violence claims 10 lives in Sri Lanka
COLOMBO, Jan 22, 2007 (AFP) – Tamil Tiger rebels shot dead two soldiers and two policemen in Sri Lanka’s embattled northeast as security forces dug in at a town seized from the guerrillas, the defence ministry said Monday.The two soldiers were shot on Sunday night in the eastern district of Batticaloa, where troops captured the […]
Indonesian wounded in Sri Lanka ship attack
Jan 22, 2007 (AFP) – An Indonesian chief engineer was wounded in a suspected suicide bombing of a cargo vessel off Sri Lanka’s northern coast, a spokesman for the ship’s owners said Monday.The merchant vessel, the MV City of Liverpool, was attacked off the Jaffna peninsula late Sunday by Tamil Tiger suicide bombers, according to […]
Sri Lanka rubber prices up; considerable profits despite recent wage hike
Jan 22, 2007 (LBO) – Plantation companies are likely to post sizeable profits this year, though a recent wage hike will eat into earnings, analysts say. The price of a kilo of rubber, which was at 175 rupees in November, has crept up steadily to 190 rupees this January. Rubber prices moved up on top […]
Sri Lanka amends law to attract foreingn investors to buy sovereign bonds
January 19, 2007 (LBO) – Sri Lanka plans to amend laws allowing foreigners to invest in government bonds, as they are too restrictive to overseas investors, the island’s treasury secretary said. The government opened five percent of the treasury bond market last November allowing overseas investors to buy rupee-denominated sovereign debt carrying tenures of two-years […]
Tight Control
Sri Lanka limited Friday the ownership of banks to prevent individuals or groups making hostile takeover bids that could destabilise the country’s small financial market. The Central Bank of Sri Lanka said an investor will be allowed to hold a maximum of 15 percent equity of any commercial bank and those who own more than […]
Switching Channels
January 19, 2007 (LBO) – Sri Lanka plans to abort contracts of greenfield radio station operators and instead offer them to new investors, in a crowded market that currently has around 30 channels, the Secretary to the Media Ministry said. “Around five to six investors have got the license, some have secured the frequencies but […]
Sri Lanka troops take Tiger town
Jan 19, 2007 (AFP) – Sri Lankan security forces Friday captured the main rebel stronghold in the island’s embattled eastern province after weeks of heavy fighting, the defence ministry said.z The Liberation Tigers of Tamil Eelam (LTTE) fled the town of Vakarai in the face of the military advance, the defence ministry said in a […]
Sri Lanka stays pat on key interest rates
January 18, 2007 (LBO) – Sri Lanka’s central bank Thursday left its key policy rates at current levels, amidst soaring inflation, which is giving savers negative returns. The repurchase rate stays at 10.0 percent while the reverse repurchase rate, which it pumps cash into the system remains at 11.5 percent, the bank said following its […]
In a stroke
January 18 (LBO) – Sri Lanka is banning the import of three-wheeler taxis that use two-stroke piston engines from next year, to reduce pollution in urban areas, a senior minister said.Two stroke engines emit particles and unburnt hydrocarbons that are polluting the environment,†Information Minister Anura Yapa said. The air-quality in Colombo has deteriorated with […]
Herbal Remedy
Jan 18, 2007 (LBO) – Sri Lanka is promoting the cultivation of herbs used in indigenous medicine, through a network of farm villages, in a bid to cut down the cost of imports, a government minister said. Sri Lanka has a separate ministry for indigenous medicines which runs a network of Ayurvedic hospitals, medical centres […]
Indian Visitor
January 18, 2007 (LBO) – India’s Bharti Airtel Ltd has been tentatively picked to take up a slot as Sri Lanka’s fifth mobile phone operator, the island’s telecom watchdog said Thursday. “We have issued an offer letter to Bharti, who have a month to make a 4 milllion dollar payment to collect the license,” Telecommunications […]
Off Air
Jan 18, 2007 (AFP) – Sri Lanka stopped mobile phone services for nearly half a million users in the island’s embattled east as government troops were locked in combat with Tiger rebels, an official said Thursday.More than 60,000 people have died during the 35-year ethnic conflict as minority Tamils fight for an independent homeland. Despite […]