Tag: Sri Lanka
Sri Lanka says military campaign needed for stability and investment
September 16, 2007 (LBO) – Sri Lanka’s defence establishment has told the business community that it was working to a plan to defeat Tamil Tiger terrorism that would create the stability they needed for investment. “For you to do your business, first there must be a country,” Gothabhaya Rajapakse, Secretary to the Defence Ministry, was […]
Sri Lanka steps up search after 28 killed in fresh violence
COLOMBO, Sept 16, 2007 (AFP) – Sri Lankan troops stepped up search operations for Tamil rebels in the embattled north and east after 28 people were killed in a new wave of fighting at the weekend, officials said Sunday. More than 5,400 people have been killed in fighting in the past 21 months following the […]
Sri Lanka struggling to reach inflation target: economist
Sept 16, 2007 (LBO) – A World Bank economist said Sri Lanka should trim the budget deficit if it wanted to achieve eight percent economic growth and monetary policy should be tightened to reduce inflation. All this will take its toll on future growth. “Unfortunately I think policy makers are not quite clear about what […]
Sri Lanka turns CID loose on reporter; rights body outraged
Sept 15, 2007 (LBO) – An international media rights body expressed outrage after police asked a journalist to reveal his sources over a story about a car allegedly imported by a ruling party politician’s son. “After last month’s death threats against investigative journalist Iqbal Athas, this new case shows that it is getting more and […]
Roadside bomb kills two Sri Lankan soldiers
Sept 15, 2007 (AFP) – A roadside bomb set off by suspected Tamil Tiger rebels killed at least two government soldiers and wounded seven others in northern Sri Lanka, the defence ministry said on Saturday.More than 5,400 people have been killed in fighting in the past 21 months following the breakdown of a Norwegian-brokered truce. […]
Fresh violence kills 26 in Sri Lanka
Sept 15, 2007 (AFP) – At least 26 people, including two security personnel, were killed in a fresh wave of violence in Sri Lanka’s embattled north, the defence ministry said on Saturday.More than 5,400 people have been killed in fighting in the past 21 months following the breakdown of a Norwegian-brokered truce. The two soldiers […]
Sri Lanka property firm says real estate is a sound buy
Sept 15, 2007 (LBO) – A top Sri Lankan property developer says real estate is a sound investment because house prices do not fall, and construction costs goes up rather than down. The Ceylinco group says the property market has been a shock absorber to act as a hedge against inflation and other economic concerns […]
Sri Lanka cuts growth forecast for 2007: report
Sept 15, 2007 (LBO) – Sri Lanka’s central bank has cut the economic growth forecast for 2007 to 7.0 percent from an earlier 7.5 percent, a report said days after the government’s statistics office released the latest growth numbers. Sri Lanka’s economic expansion slowed to 6.2 percent in the first half of 2007 from a […]
Sri Lanka statistician propounds new theory; takes on central bankers
Sept 14, 2007 (LBO) – Sri Lanka’s top statisticians put forward a new theory on exchange rates and took on the central bank governor and Fed chairman Ben Bernanke in a bid to explain rising inflation with long discredited failed ideas. . Hidden Theory Questioned by journalists about the falling Sri Lanka rupee, especially at […]
More Lube
Sept 14, 2007 (LBO) – The Sri Lanka has given approval for three more companies to sell lubricants in the island, raising to nine the number of companies in the market which is dominated by the US brand Caltex. Sri Lanka’s annual lube market is around 45,000 kilolitres. The new companies to enter the fray […]
Sri Lanka says Tiger flotilla suffers severe losses
Sept 13, 2007 (AFP) – Sri Lanka’s military Thursday said it caused “severe losses” in a combined sea and air attack against suspected Tamil Tiger boats off the island’s northeastern waters, but gave no details of casualties.More than 5,400 people have been killed in fighting in the past 21 months following the breakdown of a […]
Sri Lanka moves to avoid criticism over rights abuses
Sept 14, 2007 (AFP) – Sri Lanka said Friday it was ready to accept foreign scrutiny of its human rights record in a bid to head off formal United Nations criticism over a spate of killings and disappearances.At the same time the war-torn island’s government, locked in a decades-old war with Tamil Tiger separatists, also […]