The Lanka Academic

APRIL 3, 2008 EST, USA
VOL. 8, NO. 363


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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
Fitch Ratings downgrades Sri Lanka credit rating
afp, april 4. COLOMBO: Fitch Ratings further downgraded Sri Lanka’s already below investment grade sovereign credit worthiness on Thursday, saying escalating violence and soaring inflation prompted the move.

Fitch said it was bringing down Sri Lanka’s rating one notch to B plus from BB minus, and that it saw no immediate end to the island’s drawn-out separatist conflict that is bleeding the economy. “The ratings downgrade of Sri Lanka reflects the increased vulnerability of sovereign credit worthiness to adverse shocks associated with rising inflation,” said James McCormack, Head of Asia sovereign ratings.

He said persistently large fiscal deficits and worsened terms of trade due to high oil prices, and Colombo’s greater recourse to commercial and market-based financing, also added to their decision to downgrade Sri Lanka. More... Discuss this story
Published: Thu Apr 3 20:49:47 EDT 2008

Sri Lanka military says kills 57 rebels in north, April 3. COLOMBO (Reuters) - Sri Lankan troops killed 57 Tamil Tiger rebels in two days of fighting in the northern part of the island where the military has stepped up an offensive against guerrillas, the government said on Thursday.

The Liberation Tigers of Tamil Eelam, who are fighting for a separate homeland for minority Tamils, however, said they lost only one fighter, and instead said 25 soldiers were killed in the gunbattles that erupted along the northern frontlines.

Both sides are known to exaggerate enemy losses while playing down their own casualties, and independent confirmation is not possible from the battlefield areas where access is denied. More... Discuss this story
Published: Thu Apr 3 09:54:37 EDT 2008 Back to the top

Related News Stories
Fighting in Sri Lanka kills 32 Tamil rebels, 9 soldiers, military says  - Associated Press

Revered Sri Lankan statue removed
bbc, april 4. A statue of the Virgin Mary has been removed from Sri Lanka's most revered Catholic shrine for the first time in centuries because of intense fighting.

The shrine at Madhu is in the north-west of the country where the army is battling the Tamil Tigers.

The Bishop of Mannar, Rayappu Joseph, said he had appealed to both sides to respect the area as a no-war zone.

The shrine at Madhu is a well-known pilgrimage site for Catholics, who comprise about 6% of the population. More... Discuss this story
Published: Thu Apr 3 20:45:53 EDT 2008 Back to the top

Gene smuggling:Time to set the record straight
DM, april 4. Within the last couple of weeks, a series of reports in the local media have drawn public attention to a “multi-million dollar gene smuggling racket,” which, it is claimed, involves a “network” of academics at the Institute of Fundamental Studies (IFS) and the University of Peradeniya... Back to the top

Cleaning house: law for domestic workers soon
po, april 4. DOHA • There is talk in the Qatari community that a law to regulate the working hours and remuneration of domestic workers, including maids, is expected soon... Back to the top

Sri Lanka's SOS to Pakistan for urgent arms supplies
1, april 3. New Delhi, April 2 (IANS) Faced with stiff resistance from Tamil Tiger guerrillas, Sri Lanka has ordered emergency military supplies from Pakistan, according to official sources here... Back to the top

Sri Lanka defends lengthy inquiry into the massacre of 17 charity workers
Independent, april 3. Sri Lanka's Foreign Minister has strongly defended a commission of inquiry into the massacre of 17 aid workers after an independent human rights group accused senior police officials of a cover-up... Back to the top

Dilshan's half century revives Sri Lanka after mid-innings collapse against Windies
Associated Press, Thu April 3, 2008 18:29 EDT . CRAIG COZIER - Associated Press Writer - PORT-OF-SPAIN, Trinidad (AP) Tillekeratne Dilshan hit an unbeaten 58 Thursday and Sri Lanka - rebounded from a mid-innings collapse to reach 217 for five at close of a rain-shortened opening day of the second cricket test against the West Indies at the Queen's Park Oval... Back to the top

Sri Lanka military says 13 rebels, 1 soldier killed in northern fighting
Associated Press, Wed April 2, 2008 05:05 EDT . BHARATHA MALLAWARACHI - Associated Press Writer - COLOMBO, Sri Lanka - (AP) Sri Lankan soldiers launched a pre-dawn attack Wednesday on Tamil separatists in the embattled north, triggering a battle that killed 13 rebels and one soldier, while fighter planes bombed a separate guerrilla base, the military said... Back to the top

Sri Lanka's main Muslim party leader leaves parliament to take part in election
xinhua, april 2. The leader of the Sri Lanka Muslim Congress (SLMC) Rauff Hakeem resigned his seat in the national parliament to contest next month's eastern provincial council election, the SLMC general secretary Hasan Ali said here Wednesday... Back to the top

Intel to target Sri Lanka for investment
digitimes, april 3. Having achieved great results from its investment in China, Intel is planning to next invest Sri Lanka, which has a population of over 20 million, according to Cadol Cheung, managing director at Intel Capital Asia Pacific... Back to the top

Intense Clashes Kill 61 In Sri Lanka, april 2. Colombo, Sri Lanka (AHN) - At least 58 Tamil Tiger rebels and a security personnel were killed in fierce clashes in the country's embattled northern region, officials said on Wednesday... Back to the top

Jayawardene says Sri Lanka ready to dull West Indies backlash
Associated Press, Wed April 2, 2008 14:07 EDT . CRAIG COZIER - Associated Press Writer - PORT-OF-SPAIN, Trinidad (AP) Sri Lanka - captain Mahela Jayawardene is prepared for a West Indies backlash and conditions more suited to the home team in the second and final cricket test starting on Thursday... Back to the top

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