Tag: economy

SINGAPORE, June 3, 2007 (AFP) – Tamil Tiger rebels are a threat to shipping in the Indian Ocean, Sri Lanka’s foreign minister told a regional security conference Sunday in an appeal for global action against the guerrilla group. Rohitha Bogollagama said the Liberation Tigers of Tamil Eelam (LTTE) were one of the few “terrorist organisations” […]

June 2, 2007 (AFP) – Sri Lanka said Saturday it would not allow trucks coming from rebel-held areas in the northeast into Colombo after police claimed to have discovered explosives destined for the city in a goods carrier.Residents in areas bordering rebel-held Wanni in the northeast were told not to send trucks south after police […]

June 1, 2007 (AFP) – France on Friday gave Sri Lanka a 10 million euro (13.4 million dollar) loan to develop its construction industry and rebuild areas hit by the December 2004 tsunami, the finance ministry said. The money will be channelled through local banks to help contractors buy equipment and for their working capital […]

June 01, 2007 (LBO) – A large budget deficit is a fiscal time bomb, and central bank attempts to stabilize the economy may not work unless support comes from fiscal discipline, a British economics don has said. “In the end, no matter how successfully the central bank tries to maintain financial and monetary stability, if […]

June 1, 2007 (AFP) – Sri Lanka’s president offered to open peace talks with Tamil Tiger rebels on Friday even as security forces were locked in combat with the guerrillas. President Mahinda Rajapakse would enter negotiations with the Liberation Tigers of Tamil Eelam (LTTE) if they agreed to resume where they left off in October […]

CHENNAI, India, June 1, 2007 (AFP) – India is urging Sri Lanka not to buy weapons from China and Pakistan to fight Tamil rebels, New Delhi’s national security advisor said. “We are the big power in the region.It is very clear,” M. K. Narayanan told reporters Thursday evening. “Whatever their requirements, they (Sri Lanka) should […]

May 31, 2007 (AFP) – One of the world’s biggest solid tyre makers is trying to double its turnover and turn Sri Lanka into a key exporter of rubber products. “People keep asking us if its safe to live here, invest here and I say ‘yes’.We have had no problems. There are always risks associated […]

May 31, 2007 (AFP) – Sri Lankan Sports Minister Gamini Lokuge said Thursday his officials will appoint selectors for national sporting teams after a row over the chief cricket selector.Sri Lanka are due to host Bangladesh for three Test matches and three one-day internationals from mid-June.“What is happening now is that sports bodies on their […]

NEW DELHI, May 31, 2007 (AFP) – The Afro-Asia series in India will go ahead as scheduled next week after the ESPN-Star network stepped in to save the beleaguered event, the Asian Cricket Council said on Thursday.“The series cannot be held if there is no television coverage,” said Indian cricket board secretary Niranjan Shah.The series, […]

May 30, 2007 (LBO) – Sri Lanka has changed the base year of two indexes that track the performance of the rupee against the country’s trading partners to reflect the changing structure of trade in recent years, the Central Bank said. However since January 2007, the central bank has embarked on an aggressive stabilization effort […]

May 30, 2007 (AFP) – The international Red Cross resumed work Wednesday on Sri Lanka’s battle-scarred front lines, offering safe passage for civilians between government and rebel territory, the Geneva-based charity said.The International Committee of the Red Cross (ICRC) said it would initially man two entry and exit points three days a week in the […]

May 30, 2007 (LBO) – Sri Lanka’s inflation spiked in May by a massive 3 percentage points, reversing a three month trend of falling prices, but the 12-month un-adjusted inflation continued to move down. Sri Lanka’s interest rates have been moving up from the beginning of the year as the government borrows heavily from domestic […]