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” over conflict
LONDON, May 16, 2009 (AFP) – British Prime Minister Gordon Brown on Saturday warned Sri Lanka there would be “consequences for its actions” if Colombo did not allow humanitarian agencies access to civilians and end the conflict with Tamil Tiger rebels. Brown also called for the Liberation Tigers of Tamil Eelam (LTTE) to lay down […]
‘s Tamil Tigers plan mass suicide: defence ministry
May 16, 2009 (AFP) – Tamil Tiger rebels who are battling Sri Lankan government troops are close to losing their territory and preparing to commit “mass suicide,” the defence ministry said Saturday. The Tigers are “are preparing for a mass suicide after being effectively cut-off of escape routes, both land and sea, and now encircled […]
Sri Lankan troops take last coastline held by Tigers: military
May 16, 2009 (AFP) – Sri Lankan troops on Saturday captured the last patch of coastline held by the Tamil Tigers and the rebels would shortly be left without any territory, a top military source said.Two divisions of soldiers that had been fighting along the coastline from the southern and northern ends of the remaining […]
Sri Lanka Janashakthi continues to pay claims; talking to regulator
May 16, 2009 (LBO) – Sri Lanka’s Janashakthi Insurance said it had made submissions to the regulator to end a three week suspension of its license and the firm would continue to pay claims, while it awaited a response. Janashakthi said the Insurance Board of Sri Lanka (IBSL) had “responded positively” to proposals given by […]
Sri Lanka Eagle Insurance profits up 552-pct
May 16, 2009 (LBO) – Profits of Sri Lanka’s Eagle Insurance, a unit of Aviva, increased 552.2 percent to 98.3 million rupees in the March 2009 quarter on strong investment income growth, accounts released to the stock exchange show. Gross written premium increased 2.0 percent to 1,547 million rupees, re-insurance premiums fell 7.0 percent to […]
Sri Lanka dismisses US threat to hold back IMF loan
May 15, 2009 (AFP) – Sri Lanka dismissed Friday a US threat to link a nearly two-billion-dollar IMF bailout package to ending the war-torn island’s humanitarian crisis. Despite Clinton’s remarks, Cabraal said he was confident the rescue package would be approved. “There are conflicts in many countries and I don’t think the IMF will set […]
Sri Lankan shares up, Asia Capital stake sold
May 15, 2009 (LBO) – Sri Lankan shares went up across-the-board Friday on news the war would end in the next few days, while 26.83 percent of Asia Capital shares changed hands in a local to foreign deal, broker said. The All Share Price Index of the Colombo stock exchange rose 1.23 percent (23.25 points) […]
Sri Lanka tea prices fall as crop increases
May 15, 2009 (LBO) – Sri Lankan tea prices fell at the Colombo auctions this week but brokers said there was better demand for the increased volumes on offer.They said that despite the generally lower prices some well-made teas fetched record prices. Tea industry officials said production had recovered from the effects of drought earlier […]
Cost Savings
May 15, 2009 (LBO) – Sri Lanka’s Dialog Telekom said it expects to make an annual cost saving of 500 million rupees by shedding staff through a voluntary retirement scheme in an effort to stem losses. Nushad Perera, Dialog’s Chief Marketing Officer, told ETV’s Lanka Business Report programme in a recent interview that the VRS […]
” fight: military
May 15, 2009 (AFP) – Sri Lanka’s Tamil Tigers are “slowly giving up” their fight against advancing government troops, the island’s military said Friday as it appeared poised to capture the last tiny strip of rebel territory.A military spokesman told AFP around 10,000 civilians had managed to flee to government areas, and that there was […]