Tag: lbo
’07 Budget gap at 5% of GDP
November 8, 2006 (Dow Jones)–The Sri Lankan government expects the budget deficit to narrow to 5 percent of gross domestic product in 2007 from an estimated 9 percent this year due to higher tax collections and increased borrowings, the deputy finance minister said. “A key focus will be the small and medium scale industries.We plan […]
UN seeks international panel to probe Sri Lanka killing fields
COLOMBO, Nov 7, 2006 (AFP) – The United Nations Tuesday welcomed Sri Lanka’s move to probe the killing of hundreds of civilians by troops and Tamil Tigers, but said a broader international mechanism was needed to check rights abuses. The United Nations High Commissioner for Human Rights Louise Arbour said in a statement that Monday’s […]
Five civilians hurt as Sri Lanka troops, rebels exchange mortar fire
Nov 7, 2006 (AFP) – Five civilians were wounded after Tamil rebels and troops in eastern Sri Lanka traded mortar fire Tuesday, the defence ministry claimed and police found three bullet-riddled bodies in the region.Mortars fell near a temple, church and a railway station in the Morakotanchenai village and wounded at least five civilians, the […]
No Cash
Nov 07 (LBO) – Sri Lanka is to ask Reliance Industries of India and Petronas of Malaysia for extended credit on fuel purchases, to ease recent pressure on the exchange rate. Meanwhile, the government is also considering offering targeted subsidies for kerosene to Samurdhi beneficiaries, while allowing Ceypetco to sell at market rates, an official […]
Troops, Tigers trade artillery charge as Sri Lanka braces for battle
Nov 6, 2006 (AFP) – Sri Lanka’s military and Tamil Tiger rebels Monday accused each other of initiating artillery attacks in the island’s restive east as both sides braced for a major offensive in the region.“Ground and intelligence sources have confirmed that the Tigers are preparing to launch a major offensive south of Maavilaru, Kadjuwatte […]
Upsurge in violence expected after Sri Lanka talks fail
COLOMBO, Nov 5 (AFP) – Sri Lanka’s military and Tamil Tiger rebels are again accusing each other of gearing up for war after peace talks collapsed in Switzerland, with analysts saying an upsurge in violence is inevitable.The government and the rebel Liberation Tigers of Tamil Eelam (LTTE) failed a week ago to buy time for […]
Main opposition in Sri Lanka blows hot and cold over upcoming budget
November 05, 2006 (LBO) – Sri Lanka’s opposition United National Party which has pledged to support the ruling party in the budget vote says, it will criticize harmful features of the budget, because economic policy is not included in a recent co-operation deal signed between the two parties. “We were not consulted on the upcoming […]
Tiger mine kills two sailors in Sri Lanka
COLOMBO, Nov 4 (AFP) – A powerful Claymore mine exploded in northeastern Sri Lanka Saturday, killing two sailors, military officials said.The rebel Liberation Tigers of Tamil Eelam (LTTE) set off the surface mounted mine at Nilaveli, a former popular tourist spot, as sailors were on a foot patrol, a local official said. “One died on […]
Fiscal Fiasco
November 14, 2006 (LBO) – The massive fiscal cost and the subsequent body blow delivered to the economy of Sri Lanka by indiscriminate fuel subsidies from early 2004 had received the attention of international economic researchers. A study by researchers at the International Monetary Fund has found that 74.9 percent of the money spent on […]
Sri Lanka says Tamil Tigers preparing offensive
Nov 3, 2006 (AFP) – Sri Lanka’s defence ministry said Friday the Tamil Tiger rebels were gearing up for a major offensive following the latest peace talks failure and ahead of their leader’s birthday later this month.The ministry said the Liberation Tigers of Tamil Eelam (LTTE) had stepped up artillery and mortar attacks against security […]
Sri Lankan rebels accused of strike plan, as Tiger targets hit
Nov 3, 2006 (AFP) – Sri Lankan war planes pounded suspected Tamil Tiger targets for a third straight day Friday after the defence ministry charged that the guerrillas were preparing for a major offensive Sri Lanka’s defence ministry said supersonic jets hit two locations of the Liberation Tigers of Tamil Eelam (LTTE) in the eastern […]
Soldier killed in artillery duel in Sri Lanka
Nov 2, 2006 (AFP) – A soldier was killed and two injured as Sri Lankan troops and Tamil rebels traded fire across a de facto front line in the embattled Jaffna peninsula Thursday, the defence ministry said.The rebel Liberation Tigers of Tamil Eelam (LTTE) sparked the battle and security forces retaliated in kind, the ministry […]