Category:
Sri Lankan war planes bomb Tiger territory
COLOMBO, Nov 21, 2006 (AFP) – Sri Lankan jets bombed a suburb of the Tamil Tiger’s northern political capital Tuesday at what the military said was an insurgent training site. Both the military and the rebels said that casualties or damage assessments were not yet available. A Tamil Tiger military spokesman said the attack was […]
Road Builders
Nov 20, 2006 (LBO) – Sri Lanka has concluded talks with the Asian Development Bank for an additional 90 million dollars to expand the country’s Southern expressway, Treasury Secretary PB Jayasundera said Monday. The government wants to boost the government’s infrastructure investment to five percent of Gross Domestic Product over the next few years, Jayasundera […]
Long Tenure
Nov 20 (LBO) – Seylan Merchant Bank said Monday it would float ten year listed debentures to raise long term funds to match its lending portfolio. The 95 million rupee debenture issue would be the first long-term listed debt instrument in the local market, opening for subscription on November 27, the company said in a […]
Holy Banking
Nov 20, 2006 (LBO) – The Ceylinco group tied up Monday with Malaysia’s Centre for Islamic Finance to set up a faculty for Islamic financial studies in Sri Lanka. The Ceylinco Sussex Business School will roll out a Certified Islamic Finance Program locally, to meet a growing demand for trained professionals in Islamic finance, expected […]
Rupee Dips
November, 20 (LBO) – The Sri Lanka rupee dipped to a new low of 109.40 against the dollar early Monday, while shares also closed weaker. The rupee strengthened later to 108.70 with state banks intervening to prop it up, dealers said. The rupee had been under pressure from the second quarter as the government stepped […]
‘s estate sector trade unions to hold crisis talks Tue on wages hike
Nov 20 (LBO) – Sri Lanka’s plantation sector trade unions are to hold crisis talks on Tuesday on stalled wage negotiations with companies, and any strike action, if at all. Employers say union demands for a 100 rupee a day increase over the current, without other added costs or employee benefits, would amount to five billion […]
Costly Letters
Nov 17, 2006 (LBO) – Delayed tariff revisions, fuel price hikes and wage bills have driven up losses at Sri Lanka™s Postal Department, to over a billion rupees in the first six months this year. According to provisional data by the Central Bank, operating losses as at June this year was up 13 percent to […]
UAE aims to lessen reliance on Asian workers
DUBAI, Nov 20, 2006 (AFP) – The United Arab Emirates (UAE) president announced plans to gradually replace Asian workers with nationals to redress the demographic imbalance in his country, in a newspaper interview Monday. Sheikh Khalifa bin Zayed al-Nayhan told London-based Asharq Al-Awsat he was aware of “the seriousness of the imbalance” in the oil-rich […]
Singapore raises 2006 growth targets to 7.5-8.0 percent
SINGAPORE, Nov 20, 2006 (AFP) – Singapore raised its 2006 growth forecasts on Monday to 7.5-8.0 percent, a target analysts said is achievable after a better-than-expected third-quarter performance. Figures released by the MTI in its latest economic report showed third quarter growth was powered by the key manufacturing sector which surged 10.6 percent on the […]
Tigers scoff Sri Lanka aid offer as political gimmick
COLOMBO, Nov 20, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Monday scoffed a government offer to send supplies to the besieged Jaffna peninsula as a “political gimmick” aimed at appeasing the international community. The Liberation Tigers of Tamil Eelam (LTTE) said they had no formal word from the government about its offer to send […]
Blast kills Sri Lanka soldier
COLOMBO, Nov 20, 2006 (AFP) – Tamil Tiger rebels set off a land mine in northern Sri Lanka Monday, killing one soldier and wounding three others, defence officials said. The killings added to a weekend toll of 35 people killed according to claims by both sides. The bitter ethnic conflict between Tamil rebels in the […]
UN envoy slated in Sri Lanka over child soldier charge
COLOMBO, Nov 20, 2006 (AFP) – Sri Lankan nationalists led by the island’s main Marxist party Monday demonstrated against a top UN envoy who accused the military of recruiting child soldiers on behalf of a Tamil rebel faction. Hundreds of protestors carried an effigy of special advisor to the United Nations Representative for Children and […]