Tag: Sri Lanka
Tigers, troops claim heavy damages after sea battle
COLOMBO, April 6, 2007 (AFP) – Sri Lanka’s navy and Tamil Tiger rebels fought a sea battle off the island’s northwestern coast on Friday with both claiming heavy losses for the other side.Naval patrol craft engaged five boats of the Liberation Tigers of Tamil Eelam (LTTE) off the coastal district of Puttalam and one was […]
Scenting Oil
April 6 (LBO) – The top official in charge of Sri Lanka’s search for oil has told the corporate sector to be ready to provide the support service and skills required by an offshore petroleum industry. Three of the eight remaining blocks will be opened for bidding this year, with the others following in a […]
Sri Lanka asked to get house in order ahead of opening up services
April 06 (LBO) – Sri Lanka is hoping to open its service sectors to neighboring India, but analysts say the country should first get local regulations in order. The two countries are in talks to allow exchange of services, including limited exchange of professionals, under an agreement to be signed by June this year. But […]
Fernando sees Sri Lanka to thrilling win over England
ST JOHN’S, Antigua, April 4, 2007 (AFP) – Dilhara Fernando took a wicket with the last ball of the match to seal a dramatic two-run win for Sri Lanka against England in their World Cup Super Eights clash at the Sir Vivian Richards Stadium here Wednesday. England, set 236 to win, finished on 233 for […]
Central Bank of Sri Lanka makes record profits from money printing, inflation and debauching its currency
April 05, 2007 (LBO) – Sri Lanka’s central bank posted a massive 27 billion rupee profit in 2006 as the economy inflated and the currency depreciated due to money printing, its latest accounts showed. It even sterilized the 2007 provisional advance to the treasury, though interest rates has since started to rise, indicating that Sri […]
Seven killed in Sri Lanka violence
COLOMBO, April 5, 2007 (AFP) – Suspected Tamil Tiger rebels shot dead four civilians in eastern Sri Lanka on Thursday, the defence ministry said, as the military reported killing three guerrillas. Liberation Tigers of Tamil Eelam (LTTE) gunmen opened fire on farmers in Polonnaruwa district as they travelled to sell their rice crops, the ministry […]
Sri Lanka troops find mine on airport road
April 5, 2007 (AFP) – Sri Lankan security forces on Thursday found a powerful landmine in a shop along the main road to the island’s only international airport, police said.Over 60,000 people have since been killed in the Tamil separatist conflict and diplomatic attempts to bring the warring factions to the negotiating table have ended […]
’s rising foreign commercial loans
April 4, 2007 (LBO) – Increased reliance on foreign currency loans by Sri Lanka’s government and private sector could spell danger ahead if they are not managed properly, the Central Bank has said in its annual report. High foreign non-concessional borrowings could increase the vulnerability of the external sector to various shocks, the bank warned […]
Sri Lankan troops kill six Tigers in fresh clashes
COLOMBO, April 4, 2007 (AFP) – Sri Lankan troops have shot dead six Tamil Tiger rebels in clashes in the island’s embattled northern and eastern regions, the defence ministry said Wednesday. More than 4,000 people have been killed in the latest upsurge of fighting that began in December 2005 despite a truce arranged in 2002. […]
More foreign aid needed to reach Millennium Development Goals: UNDP
April 04, 2007 (LBO) – Aid to poor countries has fallen since 2005, threatening the achievement of Millennium Development Goals, (MDGs) the head of the United Nations Agency that promotes sustainable development has said. In Sri Lanka for example, analysts say almost all the long-term investments in infrastructure are financed with foreign aid, while 49 […]
‘s former cricket chief jailed
COLOMBO, April 4, 2007 (AFP) – A court sentenced Sri Lanka’s former cricket chief Thilanga Sumathipala to two years in jail Wednesday for breaking the island’s immigration laws, officials said. Sumathipala was charged with taking an alleged underworld leader named Dhammika Amarasinghe to England on forged travel documents to watch the 1999 cricket world cup. […]
Sri Lanka bans cruelty to bulls in April races
April 04, 2007 (LBO) – Sri Lanka announced a cracked down on cruelty to bulls at cart races during next week’s New Year celebrations, President Mahinda Rajapakse’s office said Wednesday. Cart rallies are common during Sri Lanka’s traditional two day New Year celebration, which starts on April 13, but animal rights activists say the carriages […]