Tag: Sri Lanka
EU urges resumption of Sri Lanka peace talks
HELSINKI, Aug 18, 2006 (AFP) – The Finnish presidency of the European Union has called on the warring parties in Sri Lanka to return to the negotiating table after renewed fighting in the South Asian island nation. “The presidency urges the government of Sri Lanka and the Liberation Tigers of Tamil Eelam (LTTE) to cease […]
US disaster aid expert in Sri Lanka to study refugee crisis in Trincomalee
Aug 18 (LBO) – The United States government’s international aid agency has sent a disaster expert to study the refugee crisis in the country’s eastern Trincomalee area, the US embassy in Colombo said Friday. œAccording to information gathered from United Nations and NGO sources, the U.S. Agency for International Development (USAID) estimates that at least […]
Sri Lanka economy booms despite bombs and bloodshed
COLOMBO, Aug 18, 2006 (AFP) – Sri Lanka is expected to record its highest annual economic growth in 28 years despite escalating violence in the decades-old separatist conflict, analysts said. Security has deteriorated since December with aerial bombings, artillery attacks, suicide bombings and fierce face-to-face confrontations that have officially claimed at least 1,500 lives. However, […]
Aid workers demand help for thousands as air raids continue in Sri Lanka
COLOMBO, Aug 18, 2006 (AFP) – Government warplanes attacked Tamil Tiger targets in northern Sri Lanka Friday as aid workers demanded access to tens of thousands marooned by a week of fierce fighting that left 500 dead. Government troops used a brief respite in heavy battles to consolidate defensive lines in the northern Jaffna peninsula […]
Tigers name 51 children killed in air raid
COLOMBO, Aug 18, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Friday gave the names of 51 school children killed in an airforce bombing of what they said was an orphanage in guerrilla-held territory. The rebel Liberation Tigers of Tamil Eelam (LTTE) said 51 out of 55 people killed in Monday’s air raid were children. […]
Double Blow
August 18 (LBO) – Mysterious grenade attacks and pricing problems have pushed down sales of the Sri Lankan subsidiary of Indian Oil Corporation, with the firm also eyeing a price hike in September to arrest losses. The fuel retailer found hand grenades in two of its fuel sheds in the heart of Colombo on Thursday, […]
Not liberal
August 18 (LBO) – Sri Lankan based gas distributor Laugfs, who wants to blend and produce lubricants locally, says conditions for entering the newly liberalized market is discriminating against domestic applicants. Last month, Sri Lanka invited new lubricant players to invest in the country, following interest from a few foreign companies, but a brand must […]
Central bank holds Sri Lanka policy rates steady in August
August 16 (LBO) – Sri Lanka’s central bank said Wednesday it was holding rates steady, but warned that fuel subsidies were putting pressure on the balance of payments. The rate setting monetary board had decided not to raise policy interest rates but rely on open market operations to slow money supply growth, the central bank’s […]
’s US$ 5 bn investment pipeline held up due to red tape
August 14 (LBO) – Sri Lanka is sitting on a 5 billion dollar investment pipeline for development projects, held up due to red tape and other delays, the country’s Treasury Secretary said Monday. Sri Lanka is also in talks with lending agencies to promote investment guarantees to encourage companies to spend their dollars in local […]
‘s Jan-June trade deficit widens sharply on oil
August 4, 2006 (LBO) – Sri Lanka’s trade deficit expanded 48.0 percent to 1,793 million dollars for the six months to June, compared with the same period 2005, the central bank said Friday, as the island spent more to import fuel. From January-June, the island imported 4,955 million dollars worth of goods, up 20.3 percent […]
Sri Lanka’s Jan-June trade deficit widens sharply on oil
August 4, 2006 (LBO) – Sri Lanka’s trade deficit expanded 48.0 percent to 1,793 million dollars for the six months to June, compared with the same period 2005, the central bank said Friday, as the island spent more to import fuel. From January-June, the island imported 4,955 million dollars worth of goods, up 20.3 percent […]
No Oil
August 01, 2006 (LBO) – Sri Lanka says it may not entertain new investments into expensive oil fired power plants, under a proposed energy policy for the country published this week. The government shall not initiate or entertain any proposal either by electricity utilities or private developers to build power plants that will use oil, […]