Tag: Sri Lanka
Sri Lanka backtracks on opposition to French FM
May 24, 2007 (AFP) – Sri Lanka distanced itself Thursday from opposition to Bernard Kouchner, who was named by the European Union to monitor human rights on the tropical island and is France’s new foreign minister.Sri Lanka’s Foreign Minister Rohitha Bogollagama said he was not against Kouchner, even though the troubled island’s ambassador-designate to Geneva […]
Oil Numbers
May 24, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation has posted higher profits in the March quarter helped by a provision write-back and supply of refined products to the Ceylon Petroleum Corporation. Lanka IOC posted net profits of 874 million rupees in the 3-months to March (344.7 million rupees in […]
Sri Lankan women still earn less than men
May 24, 2007 (LBO) – Women with qualifications and experience similar to males get paid an average 18 percent less, according to research, but the government says otherwise. Governments and companies in poor countries like Sri Lanka can’t afford that level of intervention. Women with similar education, location and experience as men were employed in […]
‘s tsunami affected areas get schools from United States
May 23, 2007 (LBO) – The United States has subcontracted a Sri Lankan firm to construct five schools in the south of the island a week after it awarded a contract to build four schools in the east, the US embassy in Colombo said. Access also holds the contract for the fishing harbors element of […]
Sri Lanka warplanes bomb Tamil Tiger targets
May 22, 2007 (AFP) – Sri Lankan fighter jets bombed a suspected Tamil Tiger training facility inside rebel-held territory on Tuesday, the defence ministry said.Nearly 5,000 people have been killed in the latest surge of fighting that began in December 2005, according to the defence ministry.Warplanes hit an area south of Mankulam, about 300 kilometres […]
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May 22, 2007 (LBO) – Sri Lanka will reach the June reserve money target ‘comfortably’ with interest rates at current levels, the Central Bank said in its May monetary policy review. Though reserve money increased in April from a higher demand for currency, the bank says it was able to meet an internal target for […]
Central Bank of Sri Lanka steadfast on low inflation and economic stability: Governor
May 22, 2007 (LBO) – Sri Lanka’s Central Bank will diligently pursue its aim of economic and price stability and not finance the budget deficit with printed money, Governor Nivard Cabraal said. Quoting former Federal Reserve Bank Chairman Paul Volcker, he said the “truly unique power of a central bank is the power to create […]
Sri Lanka clearing VAT refunds backlog, govt revenue recovering: Treasury Secy
May 22, 2007 (LBO) – Government revenue is improving and the Inland Revenue Department hopes to clear most of the backlog in value added tax refunds in 3-4 months, Finance Ministry Secretary P.B. Jayasundera said Tuesday. “We’ve streamlined the VAT refunds process and closed some loopholes,” he told a seminar organized by the Sri Lanka […]
Four dead in fresh violence in Sri Lanka
May 21, 2007 (AFP) – Four members of Sri Lanka’s security forces were killed and five wounded in separate attacks by suspected Tamil Tiger rebels on Monday, the defence ministry and police said. A mine that targeted troops travelling in a tractor in the northern district of Vavuniya killed two soldiers and injured four others, […]
Sri Lanka inflation may spike a little, but continue to fall: Central Bank
May 21, 2007 (LBO) – Though Sri Lanka’s inflation will continue to fall with tight monetary policy, there may be spikes due to administered price rises and seasonal factors, the Central Bank has warned. Sri Lanka’s inflation has come down steadily since the Central Bank virtually halted money printing to finance the budget deficit, but […]
‘s Tamil Tigers abducted us, say Indian fishermen
CHENNAI, India, May 20, 2007 (AFP) – Eleven southern Indian fishermen who went missing in March returned at the weekend alleging that they had been abducted at sea and kept captive by Sri Lanka’s Tamil Tiger rebels. The Tamil Tiger rebels rely on small ships and boats to smuggle black market weapons to the northern […]
Six killed in Sri Lanka fighting
May 20, 2007 (AFP) – Six people were killed and 10 others were wounded as government troops traded fire with Tamil Tiger rebels in Sri Lanka’s war-torn north, the defence ministry said Sunday.Security forces beat back an attempt by the Liberation Tigers of Tamil Eelam (LTTE) to break through the frontline at Muhamalai in Jaffna […]