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Sri Lanka Janashakthi Insurance licence suspended for three weeks
May 12, 2009 (LBO) – Sri Lanka’s Insurance Board said it has suspended Janashakthi Insurance’s licence for three weeks from Tuesday and prohibited it from issuing new insurance policies. The suspension is in respect of Janashakthi’s Long Term Insurance Business and General Insurance Business, the Insurance Board of Sri Lanka (IBSL) said in a statement. […]
The illusion of rational man; enter the economics of fear
May 12, 2009 (LBO) – The Greek historian Plutarch has recorded an encounter which Alexander the Great had with one of the sages of Taxila University, Dandamis, in the third century B.C. The youthful emperor, having been impressed by Dandamis’ skilful resolution of numerous riddles thrown at him, had asked one final question: ‘how can […]
Australia announces new people-smuggling fight
CANBERRA, May 12, 2009 (AFP) – Australia on Tuesday announced what it called the largest surveillance operation in the country’s history to fight people-smuggling amid a surge in refugees making for its shores.Unveiling the annual budget, the government committed an extra 1.3 billion Australian dollars (990 million US) to strengthening border security, including two additional […]
Sit-down Tamil protestors arrested in London
LONDON, May 11, 2009 (AFP) – British police said they arrested 45 Tamil protestors Monday after they blocked traffic with a sit-down protest outside parliament in London, in response to the killing of civilians in Sri Lanka. The arrests were made as police tried to move protestors off the road at one of the British […]
” by civilian deaths in Sri Lanka
WASHINGTON, May 11, 2009 (AFP) – The United States is “deeply concerned” about civilian deaths in strife-torn Sri Lanka, a State Department spokesman said Monday, calling on the Colombo government and Tamil Tiger rebels to end their fighting.“We’re deeply concerned,” said State Department spokesman Ian Kelly, when asked to comment on reports that more than […]
Sri Lanka central bank net forex buyer in April: official data
May 11, 2009 (LBO) – Sri Lanka’s central bank has bought 37 million dollars from forex markets in April 2009 in the first full month after ‘floating’ the rupee ahead of an International Monetary Fund bailout, the latest official data shows. The rupee depreciated despite a collapsing import bill. Sri Lanka’s central bank has also […]
Sri Lankan shares up, rupee steady
May 11, 2009 (LBO) – Profit taking helped to subdue gains in Sri Lankan stocks Monday while the rupee continued to hold against the dollar, traders and brokers said. The rupee opened the day at 116.70/117.00 levels and strengthened to 116.50/70 levels by mid afternoon but weakened by late afternoon to trade at 117.00/117.10, dealers […]
Profit Outlook
LONDON, May 11, 2009 (AFP) – Global banking giant HSBC said on Monday that profits were rising strongly on the basis of first-quarter data and it saw “robust” growth in China and India, while remaining cautious for the year. First-quarter pre-tax profits were “well ahead” of the figure for the same period of last year, […]
Australia intercepts 12th refugee boat
SYDNEY, May 11, 2009 (AFP) – The latest in a steady stream of refugee boats was intercepted off Australia Monday, officials said, fuelling controversy over the government’s softer line on asylum seekers. It was the 12th suspected people-smuggling ship to be stopped in Australian waters or to have made landfall since January, which have brought […]
”’ report
May 11, 2009 (AFP) – Sri Lanka on Monday protested against a United Nations statement that said a large number of civilians had been killed in a “bloodbath” in the northeast where troops are fighting Tamil rebels.Foreign Secretary Palitha Kohona said the government had summoned UN representative Amin Awad to receive a formal protest. “We […]