Tag: Sri Lanka
Sri Lanka ex-military chief to run against president: party
November 24, 2009 (AFP) – Sri Lanka’s former military chief, General Sarath Fonseka, will challenge his ex-boss President Mahinda Rajapakse in upcoming elections, a key leftist opposition party announced Tuesday.The JVP, or People’s Liberation Front, which had earlier backed Rajapakse, said they secured an agreement with Fonseka, 58, to stand against Rajapakse, who on Monday […]
Sri Lanka president calls snap election
November 23, 2009 (AFP) – Sri Lanka’s president Mahinda Rajapakse Monday announced he was calling a snap election to seek a second term, six months after his security forces defeated separatist Tamil Tiger rebels. President Rajapakse said in a statement that he was seeking a fresh mandate after completing four years in office out of […]
Iran gained 5 billion dollars by euro switch: banker
TEHRAN, November 23, 2009 (AFP) – Iran’s central bank chief said on Monday that the country has gained five billion dollars by replacing the US dollar with the euro in its currency basket, state-owned English language Press TV reported.“Iran has considerably reduced the total of US dollars in its currency basket,” Mahmoud Bahmani said at […]
Sri Lanka to hold early presidential polls: minister
November 23, 2009 (AFP) – Sri Lanka will hold early presidential elections within months, media minister Anura Yapa told reporters on Monday, after government forces defeated the Tamil Tiger rebels six months ago.However former army general Sarath Fonseka, who is widely credited with the military strategy that secured victory in May, is expected to stand […]
Sri Lanka resettlement plan needed: politicians, activists
November 22, 2009 (AFP) – The Sri Lankan government has failed to make adequate welfare provision for the 136,000 Tamil civilians it plans to release from internment camps, rights activists and opposition parties said Sunday. Heeding international calls for the camps to be closed, the authorities said the remaining detainees — held since the military […]
Sri Lanka inflation seen subdued: IMF
Nov 20, 2009 (LBO) – Visiting International Monetary Fund officials said Sri Lanka’s inflation is seen staying low with no sign of demand-driven inflationary as the economy and credit are still growing too slowly to generate inflation. IMF mission chief Brian Aitken said economic growth has been better than expected when it approved a 2.6 […]
”’ human rights
November 20, 2009 (AFP) – Sri Lanka’s former top military officer who resigned last week promised on Friday to “fight for democracy” amid reports he will challenge the president at upcoming elections.General Sarath Fonseka, who quit as chief of defence staff following a spat with President Mahinda Rajapakse, said he was committing himself to restoring […]
Sri Lanka has released half of war-displaced: minister
November 20, 2009 (AFP) – Sri Lanka has released more than half of the thousands of displaced civilians held in government camps after the end of the country’s ethnic conflict earlier this year, a minister said Friday. “We feel the security situation has eased considerably now to allow people to return to their homes,” Human […]
Sri Lanka private equity fund upbeat on MBOs, retailing
Nov 19, 2009 (LBO) – A new private equity fund targeting Sri Lanka will focus on supporting management buyouts, and is upbeat on opportunities in retailing, tourism and information technology as the island recovers from a 30-year war, officials said.Investors who enter the Leopard private equity fund will have to look up money for ten […]
Sri Lanka cuts rates, narrows policy corridor
Nov 18, 2009 (LBO) – Sri Lanka’s Central Bank has cut its main policy rate that injects liquidity into the banking system by 75 basis points to 9.75 percent and the rate at which it drains liquidity by 50 basis points to 7.50 percent. The Central Bank said it had bought dollars from the market […]
IMF sells two tonnes of gold to Mauritius
WASHINGTON, November 17, 2009 (AFP) – The International Monetary Fund announced Monday it has sold two tonnes of gold to the central bank of the Indian Ocean island of Mauritius for nearly 72 million dollars.The sale came as gold prices surged Monday to an all-time high of 1,136.72 dollars per ounce. The sale to Mauritius […]
Sri Lanka state revenues up in September, but may miss revised targets
Nov 16, 2009 (LBO) – Sri Lanka’s state revenues rebounded to 522.0 billion rupees in September 2009 up 12.1 percent from a year earlier, but year end targets may miss revised estimates, the Central Bank said.For the first nine months of the year fiscal deficit was 322.6 billion rupees or 6.5 percent of gross domestic […]