Tag: Sri Lanka
Price Tactics
February, 13 (LBO) – Ceylon Petroleum Corporation will hold fuel prices steady this month with the help of a tax cut on petrol, a top official said. The CPC is expecting a 5 rupee temporary lifting of excise duty on a litre of petrol, CPC Chairman Ashantha de Mel said. The CPC would have made […]
Sri Lanka exports slow in 2006; remittances and borrowings bridge the gap
February 12 (LBO) – Sri Lanka’s exports growth slowed to 8.4 percent in 2006 from 10.2 percent, while imports grew by 15.7 percent, widening the trade balance by a third to 3.3 billion US dollars, the Central Bank said Tuesday. Private remittances grew by 21 per cent to 2,326 million US dollars containing the current […]
Oil Pinch
February, 13 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, is poised to grab more market share from the country’s dominant state-owned petroleum distributor and gain from a leaner cost base, an equities research house has said. LIOC shares slid below 30 rupees last year after disputed subsidy claims hit the firm’s […]
‘s business confidence
Feb 13, 2007 (AFP) – High taxes and rigid labour laws are weighing on business confidence in troubled Sri Lanka, which is one of the worst places to do business in South Asia, a new World Bank study says. An upsurge in violence over the past year alone has killed more than 4,000 people, leaving […]
Municipal councilor shot dead
Feb 13, 2007 (LBO) – A member of the Dehiwala-Mount Lavinia municipal council was shot dead by unidentified gunmen Tuesday, police said. United National Party member Ariyaratne Silva had been killed at his office in Attidiya Road. Mt. Lavinia police say a T-56 automatic rifle had been used in the killing. (www.vimasuma.com Newsdesk) .
One killed, five injured in Sri Lanka
One killed, five injured in Sri Lanka COLOMBO, Feb 13, 2007 (AFP) – A civilian was gunned down in Sri Lanka’s restive north on Monday, while security forces traded fire with Tamil Tiger rebels elsewhere, the defence ministry said. More than 60,000 people have died in the 35-year-old ethnic conflict.Unidentified gunmen shot dead a Tamil […]
UK minister calls for peace in Sri Lanka
February 12 (LBO) – A UK minister has called for a peaceful solution to the conflict in Sri Lanka and said a continuing violence will hold back development and tarnish the country’s image, ahead of a visit to the island. “Today’s British government has no greater wish for Sri Lanka than that it should find […]
Sri Lankan president visits Maldives
MALE, Feb 11, 2007 (AFP) – Sri Lankan President Mahinda Rajapakse arrived in the Maldives on Sunday for a series of talks on bilateral trade, officials said.Rajapakse is due to meet Maldivian President Maumoon Abdul Gayoom for a one-on-one meeting followed by lunch with key government officials here. The Sri Lankan president is expected to […]
Sri Lanka president strips security from three sacked ministers
COLOMBO, Feb 10, 2007 (AFP) – Sri Lanka’s President Mahinda Rajapakse on Saturday withdrew the security detail from three ministers sacked a day earlier, following dissension within the newly appointed jumbo cabinet.Samaraweera was a key ally of Rajapakse during the 2005 presidential election campaign but fell out of favour after he criticised the president for […]
Alternative Fund
February 09 (LBO) – Sri Lanka will set up an agency to administer the renewable energy sector in Sri Lanka and also establish a fund to support newer forms of energy, a senior minister said. Sri Lanka’s cabinet of ministers had approved the setting up of Sustainable Energy Authority, but the draft law would have […]
Sri Lanka town shuts down to mourn slain Hindu priest
Feb 9, 2007 (AFP) – A town in Sri Lanka’s embattled east shut down Friday as a sign of respect for a Hindu priest gunned down four days after he welcomed President Mahinda Rajapakse to a former guerrilla stronghold.Military officials said shops closed and transport was halted in Valachchenai to mourn Selliah Parameswar, who was […]
Sri Lanka president sacks three ministers in surprise move
COLOMBO, Feb 9, 2007 (AFP) – Sri Lanka’s president Friday sacked three ministers, including the former foreign minister, amid growing dissension within the newly-elected 54-member cabinet, officials said. With last month’s defections, Rajapakse’s Sri Lanka Freedom Party (SLFP) enjoys a majority and the sacking of the three ministers will not immediately cause any problems for […]