Tag: Sri Lanka
Oil Deal
April 04, 2008 (LBO) –Sri Lanka is seeking to renew its long-term crude oil supply contract with Iran and wrap up financing to expand its refinery during a visit this week by senior government officials to Teheran. Treasury Secretary P B Jayasundera and Ashantha de Mel, chairman of the state-oil refiner Ceylon Petroleum Corporation, are […]
Sri Lanka Tamil Tigers contest provincial council election
April 04, 2008 (LBO) – Sri Lanka’s Tamil Tigers have entered the contest in provincial council elections in the east with a last-minute filing of nomination papers through a proxy party, media reports said. The Liberation Tigers of Tamil Eelam (LTTE) political wing, the People’s Front of Liberation Tigers (PFLT) submitted nominations for the polls […]
Fresh split in Sri Lanka Marxist-nationalist party
April 04, 2008 (LBO) – A split in Sri Lanka’s Marxist-nationalist Janatha Vimukthi Peramuna (JVP) is emerging with moves to oust its firebrand spokesman Wimal Weerawansa, party insiders said Friday. But Weerawansa said he had not been informed of a decision to remove him, amid reports that the party’s central committee has voted to replace […]
Sri Lanka sovereign credit cut to B+ on bad budgets, foreign borrowing, war
April 03, 2008 (LBO) – Fitch Ratings has downgraded Sri Lanka’s sovereign rating by one notch to ‘B+’ saying budgets were weak, inflation was high and the country was borrowing heavily from foreign lenders at commercial rates. The rating agency said the government’s “overriding priority” was war rather than fixing the economy. “The ratings downgrade […]
‘s sovereign downgrade
April 03, 2008 (LBO) — Sri Lanka has disputed a sovereign credit downgrade by one notch to ‘B+’ by Fitch Ratings Thursday, saying it was based on the rating agency’s pessimistic views and was not in line with economic fundamentals. . “The downward revision of ratings is based on Fitch’s pessimistic views on the security […]
Sri Lanka main opposition activated on 28-pct inflation
April 03, 2008 (LBO) – Sri Lanka’s main opposition United National Party says it is starting a protest campaign against rising prices after inflation in the country hit a new record. “The whole of 2007 we saw increases in prices. Daily the prices increased,” UNP leader Ranil Wickremesinghe told a meeting of the party’s women’s […]
Sri Lanka set for regional vote in former Tiger bastion
April 3, 2008 (AFP) – Sri Lanka Thursday announced that key local government elections will be held next month in an area that was last year wrested from rebel control after months of heavy fighting.The elections commission said voting for the Eastern Provincial Council will be held on May 10. Security forces established control over […]
Sri Lanka money growth slows in the first quarter
April 02, 2008 (LBO) – Sri Lanka’s money supply growth has slowed faster than expected in the first quarter of 2008, amid tight monetary policy and credit growth was also falling, the central bank has said. Reserve money, measured as a quarterly average grew to only 273.7 billion rupees compared to a targeted ceiling of […]
Sri Lanka Muslim lawmakers resign to contest provincial poll
April 02, 2008 (LBO) – Three members of Sri Lanka Muslim Congress (SLMC), a minority Sri Lankan political party, have resigned their parliamentary seats to contest the forthcoming provincial council poll in the eastern province. . The party has a strong base in Eastern Sri Lanka where a sizable population of Muslims live. SLMC leader […]
”” prices hit record
April 01, 2008 (LBO) – Sri Lanka’s central bank says a ‘core’ inflation index from which a number of expenditure components have been dropped is low, after consumer prices in the capital Colombo hit a historic new record. Inflation measured by the New Colombo Consumer Price Index (CCPI-N) rose to a new record of 23.8 […]
Sri Lanka accuses Tigers of shelling a hospital
April 1, 2008 (AFP) – Sri Lanka accused Tamil Tiger rebels of shelling a state-run hospital on Tuesday as fighting across the northern front lines reportedly left at least 35 rebels dead.The hospital in Mannar district was partially damaged by heavy artillery from the Liberation Tigers of Tamil Eelam (LTTE), the defence ministry said, adding […]
Sri Lanka accuses Tamil Tigers of shelling a hospital
April 1, 2008 (AFP) – Sri Lanka accused Tamil Tiger rebels of shelling a state-run hospital on Tuesday as fighting across the northern front lines reportedly left at least 35 rebels dead. The hospital in Mannar district was partially damaged by heavy artillery from the Liberation Tigers of Tamil Eelam (LTTE), the defence ministry said, […]