The Lanka Academic

MAY 19, 2006 EST, USA
VOL. 7, NO. 43

Peace comes from within. Do not seek it without. - Lord Buddha

Candidate for UN Secretary General from Sri Lanka.

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Headline Summary
F R E E      C L A S S I F I E D S
T  O  P      H  E  A  D  L  I  N  E
Closure looms on Lanka IOC on subsidy burden, May 19. MAY 19 : Lanka IOC Ltd, the Sri Lankan unit of India’s biggest oil refiner, said it had a fourth-quarter loss after setting aside funds to cover a subsidy owed by the government and may have to wind up operations if it is not paid. Net loss was Rs 37 million ($359,555) in the three months to March 31 compared with a profit of Rs 622 million a year earlier, Lanka IOC said in a statement to the Colombo Stock Exchange on Friday. Sales at the unit of Indian Oil Corp rose 37 % to Rs 10 billion. The Colombo-based company made a provision of Rs 411 million for the subsidy receivable.

Lanka IOC, which has 45 days of stocks at most, will probably stop buying from overseas because of a cash shortage, managing director K Ramakrishnan said in an interview on Friday. More... Discuss this story
Published: Fri May 19 23:45:58 EDT 2006

Fresh fighting kills 7 in Sri Lanka, May 19. Seven persons, including five Tiger rebels were killed Friday in fresh fighting in Sri Lanka's troubled regions.

Five members of Liberation Tigers of Tamil Eelam (LTTE) were killed in a confrontation with the breakaway faction led by Colonel Karuna at the Sampur area of Trincomalee, PTI report said here quoting military sources.

There were no immediate reports of casualties on the Karuna faction, but the residents in nearby areas said they heard heavy mortar bomb attacks in the area.

In the northern Vayuniya region, two army soldiers were shot dead by suspected Tiger rebels, the sources said.

The latest fighting came amid reports that a resolution in the European parliament yesterday criticised the LTTE and urged a ban on the group to cut off its international funding within the 25 member European Union.

There was no formal ban on the Tigers, Western diplomats here said adding, however, that a proscription was under consideration.

More... Discuss this story
Published: Fri May 19 09:14:10 EDT 2006 Back to the top

Related News Stories
Sri Lanka army officer, soldier die in Tamil rebel attack in north  - Associated Press
Seven killed in Lanka fighting  -

Sri Lanka's trade deficit widens
Xinhua, may 20. Sri Lanka's trade deficit has widened during the first three months of the current year, the central bank said Friday.

The trade deficit reached 334 million U.S. dollars in March from 215 million dollars in the same month of 2005, the bank said.

Meanwhile, the cumulative deficit in the first three months of 2006 has expanded to 784 million dollars from 396.4 million dollars of the same period in 2005.

The bank added that the inflow of private remittances, which grew by 28.7 percent to 221.5 million dollars in March 2006, had helped to contain the current account deficit.

The exports grew by 5.2 percent in March up from 515 million dollars in March 2005 and the country's gross official reserves had also increased to 2.8 billion dollars or 3.7 months of imports, the bank said.

Sri Lankan economy in 2001 recorded a negative growth for the first time since it gained independence from Britain in 1948.

However, an economic upturn was recorded since then as the government and the Tamil Tiger rebels entered the ongoing Norwegian backed cease-fire in the troubled northern and eastern areas. More... Discuss this story
Published: Fri May 19 23:55:56 EDT 2006 Back to the top

Sri Lankan Refugee Boat Arrivals Mount in India
News Blaze, May 20. More than 1,000 Sri Lankans have fled to southern India since the beginning of the year, the vast majority by boat, because of the upsurge of violence between Government and rebel Tamil forces in the north and east of the island, the United Nations refugee agency (<"http://www... Back to the top

EU outlaws Tigers as terrorists
London Times, May 19. THE European Union has agreed to blacklist Tamil Tiger separatists as a terrorist group, despite warnings that this could lead to full-blown civil war in Sri Lanka... Back to the top

European Union to ban LTTE, May 18. NEW DELHI: After months of discussion, the 25-nation European Union has set the stage for a formal ban on the Liberation Tigers of Tamil Eelam (LTTE), a senior European diplomat familiar with the case told The Hindu here on Thursday... Back to the top

Abe, Sri Lanka 's Samaraweera discuss U.N. reform, peace process+
Associated Press, Fri May 19, 2006 04:17 EDT . - - TOKYO, May 19 (Kyodo) Japan asked Sri Lanka - on Friday to continue its support for U... Back to the top

Western governments unhappy with Sri Lanka too
DailyIndia, May 18. New Delhi, May 18 (IANS) Western players in Sri Lanka's peace process are attacking the Tamil Tigers publicly but are also unhappy with the island's government... Back to the top

EU Calls for freeze on LTTE assets in 25 countries
com, May 18, 2006 at 10:00 pm. By D.B.S. Jeyaraj The European Parliament with 700 Members has in a unanimous resolution recommended a total freeze on LTTE assets in all its Member States... Back to the top

Dialog Telekom raises Sri Lanka investment by US$150m, May 19, 2006, - 21:22EDT. COLOMBO: Sri Lanka’s largest mobile phone operator, which is run by Telekom Malaysia, has announced a further US$150 million investment to strengthen its rapidly expanding network... Back to the top

Surging violence hampers Sri Lanka 's development projects, says World Bank
Associated Press, Fri May 19, 2006 10:16 EDT . COLOMBO, Sri Lanka - (AP) Renewed violence threatens to halt development projects in Sri Lanka - 's north and east aimed at rebuilding the region after 19 years of devastating civil war, World Bank officials said Friday... Back to the top

India steps up coastline surveillance
BBC, May 19. Following the increase in violence between Sri Lankan government forces and the LTTE in Sri Lanka, India had stepped up its surveillance measures both by sea and by air along the coastline between India and Sri Lanka... Back to the top

Terror tag means war: LTTE, May 18, 2006, 19:34 EDT. COLOMBO: Slapping a terrorist tag on the LTTE by the European Union as proposed by Sri Lanka government would force the Tigers to get onto warpath, thus keeping peace process on the back seat, LTTE's chief negotiator and political strategist Anton Balasingham said on Thursday... Back to the top

European Parliament resolution on the situation in Sri Lanka
com, May 18, 2006 at 9:12 pm. The European Parliament, – having regard to thearmed conflictwhich has torn Sri Lanka since 1983, taking over 60 000 lives and causing the displacement of more than 800 000 people, – having regard to its previous resolutions of 18 May 2000, 14 March 2002and 20 November 2003 on Sri Lanka, and of 13 January 2005 on EU aid after the tsunami disaster, – having regard to the Oslo Declaration of December 2002, in which the Sri Lankan Government and the Liberation Tigers of Tamil Eelam (LTTE) agreed to try to find a federal solution within a united Sri Lanka, – having regard to the Tokyo Declaration on Reconstruction and Development of 10 June 2003, which linked donor support to progress in the peace process, insisting on compliance with the Ceasefire Agreement, participation of the Muslim minority in the talks, promotion and protection of human rights, gender equality and progress towards a final political settlement, – having regard to the support given by the EU and the wider international community in reply to the devastating tsunami of 26 December 2004, – having regard to Rule 115(5) of its Rules of Procedure, A... Back to the top

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