Category:
driving into poverty
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. The readers of this column are no strangers to Zimbabwe as we have tried to keep a regular update on what is happening […]
Collision course
Though Sri Lanka and Zimbabwe are thousands of miles apart and are on two separate continents, but our economic policies have so much in common with that country, that it is uncanny. Now things are so bad in Zimbabwe, that the country does not have forex to import security paper and ink to print notes. […]
Illegal Smoke
June 01 (LBO) – Ceylon Tobacco Company together with several hotel associations filed petitions in the Supreme Court on Thursday against proposed laws to clamp down on smoking. The petition challenges the constitutionality of the proposed National Authority on Tobacco and Alcohol (NATA) bill, which the company claims prohibits smoking in hotels and restaurants, CTC […]
De Mel to take charge of Sri Lanka one-day selection
LONDON, June 1, 2006 (AFP) – Sri Lanka’s chairman of selectors, Asantha de Mel is to take charge of selection for the one-day series with England later this month when he arrives for the five-match limited overs campaign. De Mel was widely regarded as having played a key role in former captain Sanath Jayasuriya’s decision […]
Sri Lanka president demands new plan to end bloodshed
June 1, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse urged political parties Thursday to develop a plan that involves giving some power to minority Tamils in exchange for peace, his office said.Rajapakse said he has asked majority Sinhalese political parties meeting here Friday to come up a plan to end violence with Tamil Tiger […]
US pledges military support to Sri Lanka, warns against war
June 1, 2006 (AFP) – The United States Thursday pledged “tangible military cooperation” with embattled Sri Lanka, but warned the government here against a return to war with Tamil Tiger rebels.Assistant Secretary of State for South and Central Asian affairs, Richard Boucher, said they will strengthen military ties with Sri Lanka, but worried that the […]
Party office bombed, two killed as US official visits Sri Lanka
June 1, 2006 (AFP) – An office of a Tamil political party was bombed in Sri Lanka’s restive eastern province and two party activists were gunned down elsewhere Thursday, the military said.The office of the pro-government Eelam People’s Democratic Party (EPDP) came under attack in the town of Batticaloa, 303 kilometres (190 miles) east of […]
Sri Lanka president calls on more nations to label Tigers terrorists
HONG KONG, June 1, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse Thursday called on more countries to follow the lead of the European Union and label the Tamil Tigers as a terrorist organization.In an opinion piece in the Asian Wall Street Journal, Rajapakse said foreign governments should do more to stop the flow of […]
Package Deal
Jun 01 (LBO) – The government has approved a restructuring plan for loss making Ceylon Electricity Board (CEB), which includes re-scheduling 60 billion rupees of its long term debt. Top officials said Thursday that 50 percent of the debt will be off-loaded to the Treasury, with CEB taking over repayment once the Norachcholai coal plant […]
Fitch upgrades Hatton National Bank’s credit outlook
May 31, 2006 (LBO) – Hatton National Bank Ltd, the island’s fourth largest lender in terms of assets, got its credit profile upgraded to ‘A+(lka)’ by Fitch Ratings Lanka. With a positive outlook, the upgrade also elevates HNBs subordinated debt to ‘A (lka)’ from ‘A-(lka)’, the rating agency said Wednesday. Fitch gave HNB good marks […]
Sri Lanka’s inflation rate climbs to 13.2% in May
May 31, 2006 (LBO) – Sri Lanka’s inflation rate for May rose as short supplies of consumer eatables like cream cracker biscuits, rice, bread, red onions, milk tea, fresh milk and dried chillies pushed prices up, the Census & Statistics Dept. said Wednesday. On a point-to-point basis inflation for May rose 13.2 percent over 9.2 […]
Bond yields rise, on rising inflation; tourism stocks drag Colombo bourse down
May 31, 2006 (LBO) – Stocks in Sri Lanka weakened as investors shied away from tourism related firms fearing a European wide ban on Tamil Tiger rebels and continuing violence would deter tourists from visiting the island, brokers said. Overall sentiment remained weak as investors were rattled over a two-hour artillery exchange between the rebels […]