UPDATE 1-Sri Lanka keeps rates steady to spur more loan demand

Sri Lanka’s central bank kept interest rates unchanged for a second straight month on Tuesday, hoping more loan demand from the private sector will fuel a solid post-war economic expansion. The economy is expected to expand by more than 6 percent this year after having hit an eight-year low of 3.5 percent in 2009, with… Continue reading UPDATE 1-Sri Lanka keeps rates steady to spur more loan demand

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One killed in Sri Lanka poll violence

Gunmen shot at a bus carrying opposition supporters in President Mahinda Rajapaksa’ home district on Tuesday, killing one person in the runup to the presidential elections, election monitors said. Already, there have been a record 251 violent incidents related to the Jan. 26 election, in which Rajapaksa is facing challenger General Sarath Fonseka, who led… Continue reading One killed in Sri Lanka poll violence

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Sri Lanka pledges $4 billion to rebuild war zone

Sri Lanka has earmarked $4 billion to rebuild the island nation’s war-shattered north, part of a plan to eliminate lingering support for the defeated Tamil Tiger separatists, President Mahinda Rajapaksa said on Tuesday. Sri Lanka’s Tamils are considered an important swing vote in the Jan. 26 presidential election, at which Rajapaksa is seeking a second… Continue reading Sri Lanka pledges $4 billion to rebuild war zone

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Sri Lanka rejects U.N. execution video report

Sri Lanka on Friday rejected as inconsistent the findings of a trio of U.N.-appointed investigators who said they doubted a video showing apparent executions by Sri Lankan soldiers was a fake. The reaction came after Philip Alston, U.N. special reporter on extrajudicial executions, on Thursday urged an independent probe after a forensic pathologist, a forensic… Continue reading Sri Lanka rejects U.N. execution video report

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Sri Lanka execution video appears authentic – U.N

A trio of forensic experts believe that video footage that a Sri Lankan advocacy group says shows Sri Lankan soldiers summarily executing Tamils appears genuine, a U.N. investigator said on Thursday. Channel 4 television aired a video last year that, according to the Journalists for Democracy group, shows government troops killing unarmed, naked, bound and… Continue reading Sri Lanka execution video appears authentic – U.N

Sri Lanka general guns for economy in presidential run

Sri Lankan presidential contender General Sarath Fonseka on Thursday laid out a platform to fight corruption and cut the cost of living, both of which he said had risen sharply under incumbent Mahinda Rajapaksa’s rule. Fonseka, who led the army to victory over the Tamil Tiger separatists in May, is running as the common opposition… Continue reading Sri Lanka general guns for economy in presidential run

U.N. rejects request to observe Sri Lanka elections

The United Nations has turned down a request from Sri Lanka to send observers to monitor the country’s presidential election later this month because of lack of time, a U.N. spokesman said on Wednesday. Incumbent President Mahinda Rajapaksa is standing against 21 challengers in the Jan. 26 vote, the first since the government crushed a… Continue reading U.N. rejects request to observe Sri Lanka elections

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Sri Lanka bourse slips from record highs; rupee flat

Sri Lankan shares .CSE seesawed on Wednesday in high turnover before slipping as retail investors booked profits after the bourse hit an all-time high in intraday trading. The All-Share Price Index .CSE of the Colombo Stock Exchange rose 0.72 percent to 3,545.56 points by midday, surpassing its previous peak of 3,535.81 hit on Tuesday. It… Continue reading Sri Lanka bourse slips from record highs; rupee flat

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Sri Lanka Tamils back war-winning general for president

The political proxy of the Tamil Tigers unanimously backed on Wednesday the presidential bid of the general who crushed the separatists in May, saying it was the only way to thwart incumbent Mahinda Rajapaksa’s re-election. The Tamil National Alliance (TNA), a group of ethnic Tamil parties that took orders from the Liberation Tigers of Tamil… Continue reading Sri Lanka Tamils back war-winning general for president