Tag: Sri Lanka
Shell Talks
July 06, 2010 (LBO) – A high powered Sri Lanka government committee tasked with buying back a controlling stake in a gas firm privatized to Shell, a petroleum firm, will meet Friday to decide on its future moves, a top official said. Shell Gas Lanka is the top liquefied petroleum gas (cooking gas) distributor in […]
Fuel Failure
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]
Sri Lanka April foreign reserves at US$5.2bn
July 06, 2010 (LBO) – Sri Lanka’s official foreign reserves edged up to 5,515 million US dollars in April 2010 from 5,192 million US dollars while imports also grew steeply on the back of a recovery in economic activities. The trade account is only a part of the balance of payments dealing with goods. The […]
Fuel Losses
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]
Protests at UN office in Sri Lanka over war panel
July 6, 2010 (AFP) – Protesters led by a Sri Lankan cabinet minister surrounded the United Nations office in Colombo on Tuesday to protest at a UN panel set up to probe war crimes allegations. Housing Minister Wimal Weerawansa shouted slogans as protesters broke through a police barricade guarding the office, witnesses said. “We will […]
Australia plans to ship asylum-seekers to Timor
SYDNEY, July 6, 2010 (AFP) – Australia’s new leader Julia Gillard Tuesday revealed surprise plans to ship asylum-seekers to impoverished East Timor, in a pre-election bid to deter migrants fleeing Asian trouble-spots. Gillard said a regional processing centre would “wreck” the people-smuggling trade that brings dozens of rickety boats to Australia’s north, but denied reviving […]
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SYDNEY, July 5, 2010 (AFP) – Human Rights Watch urged Australia’s new prime minister on Monday to lift a controversial freeze on Afghan and Sri Lankan asylum claims and end “refugee-bashing” ahead of elections. The New York-based group said Julia Gillard, who has signalled a tough approach on immigration, should resume processing Afghan and Sri […]
Sri Lanka trade gap widens in April amid economic recovery
July 05, 2010 (LBO) – Sri Lanka’s foreign trade volumes and a trade gap widened in April 2010 amid as an economic recovery with exports growing 24. 2 percent and imports growing 55. 8 percent, official data showed. Exports grew to 543.5 million US dollars with tea growing 61 percent to 93. 7 million US […]
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July 04, 2010 (LBO) – Sri Lanka’s main opposition poked fun at a budget for 2010 which had less ‘grasping government’ elements in it and was more affordable to the poor, by throwing the ruling coalition’s own slogans of yesteryear, back at it. In 2006, Sri Lanka’s Mahinda Chinthana platform justified a spending spree saying […]
Sri Lanka sovereign rating may be raised: report
July 03, 2010 (LBO) – Standard & Poor’s may upgrade Sri Lanka’s credit when it next reviews the island’s sovereign rating with the resumption of an International Monetary Fund loan and strong foreign reserves, a media report said. “The new budget and continued IMF program are positives,” Benard said. “Still, to have effect on the […]
EU urges Sri Lanka to cooperate with UN war probe
BRUSSELS, July 1, 2010 (AFP) – The European Union urged Sri Lanka’s government on Thursday to cooperate with a UN panel probing alleged war crimes during the country’s civil war. “If the EU doesn’t want to give it, let them keep it. I don’t want it. We have gone and explained what we have done.” […]
Sri Lanka Treasury yields flat
July 01, 2010 (LBO) – Sri Lanka’s Treasury yields were flat at Wednesday’s auction with the government selling 2. 0 billion more bills to raise fresh cash from the market, the government’s debt office said. The 3-month yield was 8.07 percent, the 6-month yield 8. 93 percent and thee 12-month yield 9.29 percent. The debt […]