Tag: lankabusinessonline
Curfew in Colombo as tensions rise after mosque attack
August 11, 2013 (AFP) – Sri Lankan police clamped a fresh curfew on a Colombo neighbourhood Sunday, a day after a Buddhist-led mob vandalised a mosque in an incident that raised religious tensions and sparked US concern.All four people injured in the attack, including two police constables guarding the mosque, remained in hospital Sunday. Residents […]
Assault on mosque revives Sri Lanka religious tensions
COLOMBO, August 10, 2013 (AFP) – Sri Lankan police deployed commandos and imposed a curfew on a Colombo neighbourhood Saturday after a Buddhist-led mob attacked a mosque, wounding four people and reviving simmering religious tensions, officials said. Police sources said elite Special Task Force commandos were deployed to help maintain law and order following mob […]
Sri Lanka Fonterra says milk powder safe, but recalling some product
Aug 09, 2013 (LBO) – Sri Lanka’s Fonterra unit said it was recalling some product from the market on a health ministry directive but the chemical alleged to be in milk powder was not toxic and its use had been stopped last year. Fonterra Lanka chief Leon Clement said two batches of Anchor and Anchor […]
” forex reserves
Aug 09, 2013 (LBO) – Sri Lanka probably has ‘mamma’ bear forex reserves an International Monetary Fund official said responding to the official position that the country had ‘goldilocks’ reserves that were just right. The Central Bank also has to repay the IMF about another 250 million US dollars in the second half of 2013, […]
Dumped Queen Victoria to get new life before Sri Lanka summit
COLOMBO, August 8, 2013 (AFP) – A statue of Queen Victoria which was banished from Sri Lanka’s presidential palace amid fears it brought bad luck will now be spruced up for an upcoming Commonwealth summit.The 1897 statue of the former British monarch seated on a throne had been banished from the palace a few years […]
Cardinal slams Sri Lanka army for attack inside church
COLOMBO, August 7, 2013 (AFP) – The Roman Catholic church Wednesday slammed Sri Lanka’s army for storming a church and assaulting residents trying to escape soldiers firing on villagers protesting against contaminated water.The shootings came ahead of a visit to the island by United Nations rights chief Navi Pillay later this month. Pillay is due […]
Sri Lanka halts sale of baby formula, foreign milk power advertising
Aug 07, 2013 (LBO) – Sri Lanka has halted the sale of imported baby formula following a contamination scare over New Zealand made dairy products and media organizations will be asked to stop advertising milk products, a senior health official said.Heath services director general Palitha Mahipala said a food advisory committee that met yesterday had […]
‘s sovereign rating can be upped on better fiscal, monetary policy: Fitch
Aug 07, 2013 (LBO) – Sri Lanka’s credit rating can be upgraded if fiscal and monetary policy improves leading to greater stability and steady growth and more foreign direct investment and less debt comes for investment, a senior Fitch Ratings official said.Sri Lanka has a ‘BB-‘ speculative rating, three levels below investment grade with a […]
Sri Lanka deficit to move down with lower rates, PPPs: CB Governor
Aug 06, 2013 (LBO) – Sri Lanka’s budget deficit will narrow and debt will slow with falling domestic interest rates and public private partnerships in infrastructure, Central Bank Governor Nivard Cabraal said. “We will see a huge reduction in interest costs,” Cabraal told a sovereign and banking forum organized by Fitch. In 2014 the budget […]
‘s faster growth bucking trend: Fitch
Aug 05, 2013 (LBO) – Sri Lanka’s economy is growing faster despite a slow global recovery, but the country needs more savings and foreign direct investments to reduce borrowings, senior rating analysts at Fitch said.Andrew Colquhoun, senior director and head of Asia Pacific sovereign ratings said a global recovery was still patchy, with the outlook […]
Sri Lanka steps up security as protest toll rises
COLOMBO, August 4, 2013 (AFP) – Police poured into a village near Sri Lanka’s capital ahead of the funeral Sunday of a teenager shot dead by troops during a protest against contaminated water, residents said. Criticism by the opposition and rights groups of the army’s use of force has mounted since the shootings.Private television networks […]
Hundreds denounce army killing of Sri Lanka protesters
August 5, 2013 (AFP) – Several hundred anti-government supporters staged a rare protest Monday in Sri Lanka’s capital to denounce a deadly army crackdown on villagers who were demonstrating against contaminated water supplies.Sri Lanka has denied that its troops were responsible for killing civilians or committing any war crimes. Around 300 followers of the left-wing […]