Tag: Sri Lanka
Sri Lanka central bank promises vigilance over liquidity as inflation rages
Nov 20, 2007 (LBO) – Sri Lanka’s central bank said it is countering a liquidity shock to the monetary system from a dollar bond issue, though policy rates frozen at 12.0 percent remained negative compared to raging 19.6 percent inflation. A sudden conversion of 500 million dollars worth state borrowings in late October drove up […]
Sri Lanka inequality on the rise despite growth: UNDP
Nov 20, 2007 (LBO) – Inequality is on the rise in Sri Lanka despite the island making much progress in economic development, an international expert said. Overall progress in Sri Lanka has been concentrated in the western province and hides wide regional income disparities, said Neil Buhne, UN Resident Coordinator, Sri Lanka. There were pockets […]
Sri Lanka to appoint town planners to all local bodies
Nov 20, 2007 (LBO) – Sri Lanka has decided to appoint professional town planners to all local government bodies in a move that will speed up approvals and reduce corruption, officials said. The number of town planners in these bodies today is woefully inadequate, resulting in delays in getting approvals for building permits and payment […]
Sri Lanka Central Bank rejects gold reserve sale charges as criticism mounts
Nov 20, 2007 (LBO) – Sri Lanka’s Central Bank has rejected allegations it had sold tonnes of gold reserves to fund government expenditure in recent months, while criticism mounts on the way foreign reserves are used by the authorities. It said in a statement that a fake letter was circulating that it had sold 7,000 […]
Sri Lankan government wins crucial budget vote
Nov 19, 2007 (LBO) – The Sri Lankan government won a crucial vote in parliament to pass its budget for 2008 on Monday afternoon after days of speculation. The decision came after much speculation about the fate of the government if it failed to muster enough votes to have the budget passed by parliament. If […]
‘s arrest embarrasses govt
Nov 18, 2007 (AFP) – A Tamil guerrilla leader accused of involvement in war crimes is becoming a major embarrassment to Sri Lanka’s government following his arrest in Britain.Vinayagamoorthi Muralitharan, the leader of a breakaway faction of the Tamil Tigers rebel group, was detained in London earlier this month on a charge of entering the […]
Indian state leader in hot water over Thamilselvan poem
CHENNAI, India, Nov 15, 2007 (AFP) – The leader of a southern Indian state is facing allegations of treason after writing a poem mourning the killing in nearby Sri Lanka of a senior rebel and fellow ethnic Tamil. M. Karunanidhi, the chief minister of Tamil Nadu state, was last week so moved by the death […]
Sri Lanka warplanes strike Tiger targets
Nov 16, 2007 (AFP) – Sri Lankan warplanes carried out bombing raids on suspected Tamil Tiger targets inside rebel-held territory on Friday, the defence ministry said.The raids were aimed at a boat manufacturing facility of the Liberation Tigers of Tamil Eelam (LTTE) in the northeast, the ministry said. There were no details of casualties. Officials […]
Sri Lanka police summon lawmakers ahead of budget vote
Nov 16, 2007 (LBO) – Sri Lankan police questioned an opposition lawmaker and summoned two others Friday, drawing protests from the opposition leader, in the latest twist in political wrangling days ahead of a crucial vote on the government’s budget. United National Party (UNP) Parliamentarian Ravi Karunanayake, a businessman who was a former trade minister, […]
Sri Lanka urges more action against terrorist front after US ban
Nov 16, 2007 (LBO) – Sri Lankan Foreign Minister Rohitha Bogollagama Friday called on the international community to take action against front organizations of the Tamil Tigers after the United States froze the assets of a relief agency. “The US government becomes the first foreign government to take tangible action against an LTTE (Liberation Tigers […]
‘s Horana named best town for business
Nov 15, 2007 (LBO) – A town south-east of the Sri Lankan capital Colombo has emerged as the surprising choice of companies as the best place to do business. A study conducted by the international organization Asia Foundation in Sri Lanka on private sector business development and economic growth, found that Horana, 60 km from […]
Sri Lanka opposition lawmaker joins government
Nov 15, 2007 (LBO) – A Sri Lankan opposition party lawmaker Thursday joined the government, a day after a ruling party parliamentarian defected to the opposition. Mahinda Ratnathilake, a member of parliament for the Ratnapura district in the main opposition United National Party (UNP) crossed over to the government soon after meeting President Mahinda Rajapakse […]