Category:
‘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 […]
New Broom
June 08 (LBO) – The newly set up, state-sponsored Lanka Puthra Development Bank is to begin operations by the end of this month, but the bank, which has no branch network, has to find a way to reach rural customers. We will provide loans of a million rupees and more, at competitive interest rates for […]
Cinnamon trees sprout again in tsunami-hit Sri Lanka village
HIKKADUWA, Sri Lanka, June 8, 2006 (AFP) – Eighteen months after the tsunami uprooted centuries-old cinnamon plantations in a country where the golden cash crop is a vital source of income, the trees are sprouting “like magic”. Part-time cinnamon planter Wimalawathi Mendis thought her modest plot was doomed when much of her village, Malawenna, just […]
Trade Swap
June 08 (LBO) – The Asia Pacific Trade Agreement between six Asia Pacific countries including Sri Lanka will kick off on July 1 this year, offering deep tariff cuts on several goods. Sri Lanka will enjoy margins of preference of up to 50 percent on goods like coconut products, spices, tea and rubber to Bangladesh, […]