Author: LBO
Norway condemns Sri Lanka bombings but remains ‘optimistic’
OSLO, Apr.26 (AFP) – The main mediator in the Sri Lankan conflict, Erik Solheim of Norway, on Wednesday condemned the flare-up of violence on the war-torn island but said he was optimistic that it would end shortly.Government forces have carried out coordinated air, sea and land attacks against rebel positions in the restive northeast since […]
Sri Lanka’s Tamil Tigers one of world’s deadliest militant groups
Apr. 26 (AFP) – Sri Lanka’s Tamil Tigers, blamed for a suicide attack against a top military official that threatens to pitch the island back into civil war, is one of the world’s deadliest guerrilla groups.For Liberation Tigers of Tamil Eelam (LTTE) chief Velupillai Prabhakaran the most lethal weapon in his armoury is the young […]
The Black Tigers — Sri Lanka’s deadly suicide squads
Apr.26 (AFP) – “Black Tiger” suicide squads, secular Hindus driven by loyalty to the Tamil cause rather than religion, have been sowing terror in Sri Lanka for over two decades.The audacious bombing Tuesday inside Sri Lanka’s main military base, in which a female member of the Tamil Tigers feigning pregnancy blew herself up, was just […]
Surging rubber prices raising ‘alarm bells’: experts
KUALA LUMPUR, Apr. 24 (AFP) – Rising demand that has pushed prices for natural rubber to record highs is raising fears world supplies will run short, experts said Monday at an international summit in the Malaysian capital. Growing demand has seen prices rise steadily for over a year, hitting 2.0 dollars per kilogram (2.2 pounds) […]
Sri Lanka’s hospitality industry shows record growth in March
Apr. 20 (LBO) – Sri Lanka’s leisure industry greeted record 54,746 visitors in March, as key western countries warned nationals to avoid traveling to the north east of the country as violence intensified in the region. The tsunami-hit island welcomed 54,746 visitors (up 8.6 percent over 2005) in March, which helped swell arrivals for the […]
Sri Lanka’s Central Bank reports highest ever cash outlay last week
Apr.19 (LBO) – Sri Lanka’s Central Bank issued 165 billion rupees in cash, the highest ever so far, to meet last week’s New Year shopping spree, an official said Wednesday.“There was high demand for currency due to the holiday season and the recently concluded election,” the bank’s Senior Deputy Governor W A Wijewardene said. The […]
Norwegian mediator ‘frustrated’ by Sri Lankan parties
OSLO, Apr.18 (AFP) – The main mediator in the Sri Lankan conflict, Erik Solheim of Norway, said Tuesday he was frustrated by the government’s and Tamil rebels’ lack of flexibility, which he said was endangering talks aimed at saving a shaky truce.“I have to admit that we’ve become a bit frustrated these past few days […]
Blast and curfew mars Sri Lanka’s New Year
Apr.14 (AFP) – Two people were killed in fresh violence in Sri Lanka’s restive east on the traditional New Year day Friday and an indefinite curfew was clamped to maintain law and order, police said.The killing of a motorist sparked fresh rioting in the troubled port town of Trincomalee where police slapped the curfew after […]
Sri Lanka’s Central Bank maintained policy rates for the fourth straight month
Apr.12 (LBO) – Sri Lanka’s Central Bank Wednesday maintained policy rates for the fourth straight month as they are comfortable with economic expansion, though private sector credit demand has not shown signs of abating. The repurchase rate, which drains the money from the banking system, stays at 8.75 percent, while the reverse repurchase rate remains […]
Three shot dead in Sri Lanka’s east
Apr.07 (AFP) – A Tamil nationalist activist and two Muslim police guards were shot dead in Sri Lanka’s volatile eastern province on Friday, police said.Vanniasingham Vigneswaran, who spearheaded the Tamil Resurgence Movement in Trincomalee, was gunned down near the port town’s main bank in the morning. His movement had often clashed with the Sinhalese majority […]
Sri Lanka’s future hangs on peace, lower public debt, inflation: ADB
Apr.06 (LBO) — Sri Lanka’s economy is expected to expand by 5.3 percent in 2006, but much of it hinges on peace, and cut backs on public debt, inflation and fiscal deficits, the Asian Development Bank said Thursday. The tsunami-hit island is still plagued with sharp escalation in rebuilding costs, while president Mahinda Rajapakse’s welfare […]
Sri Lanka’s Sampath Bank gets credit upgrade from Fitch
Apr.06 (LBO) – Fitch Ratings Lanka has upgraded Sampath Bank long term domestic rating to AA- (sri) on an improving financial profile.“Concerted recovery efforts and improved credit risk management have resulted in a steady improvement in the bank’s asset quality and solvency position,” Fitch said. “The bank has halved its gross NPLs (non-performing loan) ratio […]