Tag: Sri Lanka
Sri Lanka property firm hit by falling prices
May 30, 2009 (LBO) – The real estate arm of Sri Lanka’s Carsons Cumberbatch group said it was writing down the values of properties by 450.3 million rupees as prices slumped in the wake of tight monetary policy. “This year has been a challenging year where we saw a significant market correction on the property […]
Hedge Loss
May 29, 2009 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said it lost 1.6 billion rupees in the March 2009 quarter against a profit of 890.7 million last year as the firm was hit by adverse oil hedges and taxes. But oil prices collapsed in the second half of 2008 and the […]
Sri Lanka inflation accelerates to 3.3-pct in May
May 29, 2009 (LBO) – Consumer price inflation in Sri Lanka’s capital Colombo accelerated to 3.3 percent in the 12-months to May from 2.9 percent in April, with prices jumping 2.0 percent during the month, the government’s statistics office said. Sri Lanka central bank governor Nivard Cabraal has said the index could move below zero […]
Obama names US ambassadors to Sri Lanka, Japan, India
WASHINGTON, May 28, 2009 (AFP) – President Barack Obama on Wednesday named US ambassadors to Japan, India and Sri Lanka, amid heightened tension in Asia over North Korea’s nuclear tests, unrest in Pakistan and ethnic tension in Sri Lanka. Obama named longtime technology-focused lawyer John Roos as US ambassador to Japan, and named Democratic former […]
Sri Lanka avoids war crimes probe, slams West
May 28, 2009 (AFP) – Sri Lanka celebrated a major diplomatic victory Thursday after managing to torpedo Western demands for a probe into alleged war crimes committed during the offensive against Tamil Tiger rebels. A little more than a week after government troops defeated the separatist army, the island’s diplomats managed to lobby Asian support […]
UN rights chief, campaigners press for Sri Lanka probe
GENEVA, May 28, 2009 (AFP) – The UN human rights chief and campaign groups insisted Thursday that an independent probe should be held into violations in Sri Lanka although the UN’s top rights assembly turned down such calls UN High Commissioner for Human Rights Navi Pillay maintained her demand for an investigation into abuses allegedly […]
EU expresses regret as Sri Lanka avoids war crimes probe
BRUSSELS, May 28, 2009 (AFP) – The European Union expressed regret Thursday at the failure to launch a probe into alleged war crimes committed by the Sri Lankan military during its offensive against Tamil Tiger rebels.On Wednesday, the UN Human Rights Council adopted a resolution proposed by Sri Lanka and non-aligned states that welcomed Colombo’s […]
UN rights council divided over Sri Lanka probe
GENEVA, May 26, 2009 (AFP) – UN human rights chief Navi Pillay on Tuesday called for an international investigation into attacks on civilians during the final stages of the civil war in Sri Lanka.“There are strong reasons to believe that both sides have grossly disregarded the fundamental principle of the inviolability of civilians,” Pillay told […]
Sri Lanka may relax forex trading curbs from June: CB Governor
May 27, 2009 (LBO) – Sri Lanka may expand forex trading limits of banks from next month, Central Bank Governor Nivard Cabraal said, as the country emerged from a balance of payments crisis with the monetary authority becoming net dollar buyer. “If we did not buy the rupee would appreciate further,” Cabraal said. The rupee […]
Sri Lanka confident of avoiding war crimes probe
May 27, 2009 (AFP) – Sri Lanka said Wednesday it was confident of averting an international probe into alleged war crimes committed during its offensive against the Tamil Tigers. At the council meeting, two draft resolutions have been put forward — each one at odds in their approach to the aftermath of the conflict. The […]
Sri Lanka planning credit scheme for the war-affected: CB Governor
May 27, 2009 (LBO) – Sri Lanka is planning a central bank re-financed credit scheme for people in former war-affected areas to allow people to rebuild their lives, Central Bank Governor Nivard Cabraal said. However Cabraal says re-financing would be within reserve money and inflation targets. “These people need help and society will have to […]
UN rights council divided over Sri Lanka
GENEVA, May 26, 2009 (AFP) – Asian and Western members of the UN Human Rights Council failed to find a common voice on the situation in Sri Lanka before they were due to hold a special session on the issue Tuesday. Switzerland, with the support of about 30 mainly Western states, has tabled a draft […]