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US, Norway, condemns the latest acts of violence in Sri Lanka
Apr.12 (LBO) – The governments of United States and Norway Wednesday condemned the latest round of violence in Sri Lanka and urged both parties to honour the ceasefire agreement. -LBO Newsdesk: LBOEmail@ “The United States condemns in the strongest possible terms the recent terrorist attacks carried out by the Liberation Tigers of Tamil Eelam (LTTE) […]
Two killed in Sri Lanka landmine blast
Apr. 12 (AFP) – At least two policemen were killed and another two wounded when their truck was caught up in a landmine blast in northeastern Sri Lanka on Wednesday, officials said. The victims were on their way to the port town of Trincomalee to buy provisions for policemen stationed further north of the main […]
Foreign remittances keep Sri Lanka floating
Apr.12 (LBO) – Sri Lanka’s balance of payments (BOP) has recorded a US$142 million surplus for the three months to March, the Central Bank said Wednesday as it maintained key interest rates for the fourth straight month. The balance of payments is a record of the island’s total payments to foreign countries, including the cost […]
Bond traders divided over a change in Sri Lankan interest rates
Apr.11 (LBO) – Sri Lanka’s Central Bank is unlikely to cut interest rates this month, though some traders are expecting a 25 basis point cut. -Mel Gunasekera: mel@ The repurchase rate currently stands at 8.75 percent and the reverse repurchase rate is at 10.25 percent. The repurchase rate is the return on cash deposited by […]
Asian Foray
SINGAPORE, Apr.11 (AFP) – India’s sixth largest private bank, UTI Bank Ltd, opened its first international branch in Singapore Tuesday, marking the first step in plans to stamp its footprint in Asia. “This marks the onset of our international operations, as a response to the growing globalisation of the Indian economy,” said UTI Bank chairman […]
Indian cricket board suspends former boss Dalmiya
NEW DELHI, Apr.11, 2006 (AFP) – Former world cricket chief Jagmohan Dalmiya was on Tuesday suspended from the Indian board he once ruled on charges of misappropriation of funds.The Board of Control for Cricket in India (BCCI) said in a statement that Dalmiya, 65, would not take part in its activities till a probe into […]
After Test pain, Jayasuriya eyes World Cup glory
Apr.11 (AFP) – Sanath Jayasuriya may have experienced only pain and disappointment in his farewell Test, but he hopes the cricketing gods will smile on him at the World Cup next year.The former Sri Lankan captain says his retirement from Test cricket will help him focus on one-dayers and he will do his best to […]
Returning Sense
Apr.11 (LBO) – Sri Lanka’s finance ministry says fuel subsidies are placing an unsustainable burden on the exchequer; in a move analysts expect to be a precursor to an upcoming round of retail fuel price hikes. “In 2005, the government had to spend Rs25 billion to sell fuel below cost,” a statement from the Ministry […]
Bus blast kills 12 Sri Lankan sailors and dims peace hopes
Apr.11 (AFP) – Suspected Tamil rebels blew up a bus full of sailors in northeastern Sri Lanka on Tuesday killing 12 and further dimming hopes for a new round of peace talks next week, officials said. The attack was seen by officials involved in the Norwegian-backed peace bid as a blow to diplomatic efforts to […]
Britons wounded in Sri Lanka blast
Apr.11 (AFP) – Three Britons were injured in Tuesday’s bomb attack in northeastern Sri Lanka in which 12 sailors were killed, police said. The two women and a man were flown to Colombo for treatment after their van was caught up in a mine attack that was intended for a navy bus, a police official […]
Turbo Charge
Apr.10 (LBO) – The World Bank Monday gave out US$35,000 grant to six projects that will help youth development work in Sri Lanka. -LBO Newsdesk: LBOEmail@ In its second consecutive year, the 2006 Small Grants Programme aims to build capacity and develop management skills among Sri Lankans within the ages of 18-30 years, the bank’s […]
Sri Lanka condemns death of five soldiers as international donors meet LTTE
Apr.10 (LBO) – Sri Lanka Monday condemned the killing of five soldiers in Jaffna today while island’s key international lenders met Tamil Tiger rebels. Five army personnel and three others, including two aid workers, died in a claymore mine blast by suspected Tamil Tiger rebels in northern Jaffna on the A-9 highway between Kodikaamam and […]