Category:
Sri Lanka shelves plans for medium-term sovereign bond
June 9, 2006 (LBO) – Sri Lanka has shelved plans to raise up to a billion dollars and fall back on smaller tranches, with shorter maturities, a senior treasury official said Friday. The government was hoping to float a 7 to 10-year, sovereign bond to pay off about 300 million dollars of bonds owed to […]
Sri Lanka in talks with Russia to lower tea import duties
June 09 (LBO) – Sri Lanka is in talks with Russia to lower import duties on tea, as Russia begins freeing up trade in a bid to enter the World Trade Organisation (WTO). Russia, Sri Lanka’s largest market for tea, has offered to lower tariffs of 20 percent on value added black and green tea exports […]
Last Resort
June 9, 2006 (LBO) – Sri Lanka’s CBNSat a local cable television operator — is appealing to customers to be patient while they engage in a court battle aimed at re-starting operations. Sleuths from the criminal investigation department switched off the equipment at CBNSat’s affiliate company SonicNet technology, bringing its activities to a halt. The […]
‘s inflation rate soars to new high
HARARE, June 9, 2006 (AFP) – The inflation rate in economically-ravaged Zimbabwe soared to a new record high of 1,193.5 percent for May, officials said on Friday, with economists predicting even higher rates in the coming months. “The year-on-year rate of inflation in May 2006 was 1,193.5 percent, gaining 150.6 percentage points on the April […]
Sri Lanka attacks peace monitors over truce report
June 9, 2006 (AFP) – Sri Lanka’s government, under pressure for allegedly backing a breakaway Tamil rebel faction, on Friday accused Scandinavian truce monitors of partiality and said they lacked professionalism.The government in a four-page statement lambasted the Sri Lanka Monitoring Mission (SLMM) and also accused its chief, Swedish army Major General Ulf Henricsson, of […]
Norway points finger at EU for Sri Lanka talks breakdown
OSLO, June 9, 2006 (AFP) – Norway on Friday blamed the European Union for contributing to a breakdown in talks between Sri Lanka and Tamil Tigers which has thrown the question of further Norwegian mediation wide open.The rebels on Thursday aborted a two-day meeting in Oslo with Colombo representatives arranged by Norway to discuss the […]
Norway puts Sri Lanka on notice amid fresh war fears
June 9, 2006 (AFP) – Norway was reconsidering its peacebroker role Friday as Tiger rebels aborted talks and demanded the removal of ceasefire monitors from European Union member states.On Thursday, at least 19 people were reported killed across the troubled northern and eastern regions, pushing the death toll since December to more than 680. The […]
Norway blames Tamil Tigers for failed talks
OSLO, June 8, 2006 (AFP) – Norway on Thursday officially declared talks between Sri Lanka and Tamil Tigers to improve the security of foreign ceasefire observers a failure, blaming the rebels for the breakdown.The separatist Liberation Tigers of Tamil Eelam (LTTE) and Sri Lankan representatives were to hold direct talks for the first time since […]
Olive Branch
June 9, 2006 (LBO) — Sri Lanka plans to repay millions of dollars due to the troubled fuel retailer Lanka IOC, in cash and bonds to meet immediate purchases of petrol stocks, the Indian firm said Friday. To date, Colombo owes the Indian fuel retailer over 76 million dollars in unpaid subsidies for selling fuel […]
Sri Lanka’s electronic bonds off to a flying start
June 8, 2006 (LBO) – Sri Lanka’s new electronic platform which trades government bonds has generated 7.1 billion rupees worth of trades since its soft launch on May 24, officials said Thursday.Bloomberg, a financial market specialist who developed the software says, the trading system ensures transparency and brings in price discovery when government securities are […]
Sri Lanka asking Pakistan for swift military assistance: Jane’s
LONDON, June 8, 2006 (AFP) – Sri Lanka is looking to Pakistan for help to bolster its military capabilities as the ceasefire between the government and rebels appears increasingly fragile, specialist publication Jane’s Defence Weekly said Thursday. Sri Lanka has asked Pakistan to facilitate the purchase of military equipment worth around 60 million dollars (47 […]
‘s electronic bonds off to a flying start
June 8, 2006 (LBO) – Sri Lanka’s new electronic platform which trades government bonds has generated 7.1 billion rupees worth of trades since its soft launch on May 24, officials said Thursday.Bloomberg, a financial market specialist who developed the software says, the trading system ensures transparency and brings in price discovery when government securities are […]