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Sri Lanka rupee weakens to new life low of 117.10 against greenback
April 20, 2009 (LBO) – Sri Lanka rupee fell steeply to 117.10 levels against the greenback Monday, after opening at 116.00/20 levels, with no intervention from the monetary authority, dealers said.Sri Lanka’s foreign exchange markets are coming to life after a lazy traditional New Year holiday week when demand for dollars was muted. The rupee […]
Sri Lankan stocks rise on war victories, rupee hits new low
Apr 20, 2009 (LBO) – Sri Lankan shares rose across the board on Monday with investors upbeat over signs the ethnic war had reached its final stages, while the rupee hit a new low against the dollar, brokers and dealers said. Rebels leaders are believed to be hiding among the remaining civilians in the area […]
Foreign Interest
April 20, 2009 (LBO) – A number of prospective buyers interested in Sri Lanka’s Seylan Bank have tied up with foreign partners to bid for a 33 percent stake in the bank, Central Bank governor Nivard Cabraal said. Ceylinco chief Lalith Kotelawala, who is now in remand over the collapse of his Golden Key Credit […]
India launches spy satellite
BANGALORE, April 20, 2009 (AFP) – India put an Israeli-built spy satellite into orbit Monday, aimed at boosting its defence surveillance capabilities in the aftermath of the Mumbai militant attacks. The satellite, which can see through clouds and carry out day-and-night all-weather imaging, has been a long-standing demand of the Indian military. Its acquisition was […]
Sri Lanka calls for world pressure on Tamil Tigers
April 20, 2009 (LBO) – Sri Lanka’s top defence official has called on the international community and the United Nations to put pressure on Tamil Tiger rebels to lay down arms and surrender.He said the latest influx of refugees from the small strip of land remaining under rebel control showed the civilians wanted to escape […]
Civilian exodus spells defeat for Tigers: Sri Lanka president
April 20, 2009 (AFP) – Tens of thousands of civilians on Monday escaped from the area still held by Sri Lanka’s Tamil Tigers, signalling that the rebels’ “complete defeat” was imminent, President Mahinda Rajapakse said. Showing AFP aerial video from a military spy plane over the tiny area where the Tigers are staging a last […]
35,000 civilians flee Tiger area: Sri Lanka president
April 20, 2009 (AFP) – More than 35,000 civilians Monday fled the last area under the control of Sri Lanka’s cornered Tamil Tigers, President Mahinda Rajapakse said, adding that the rebels’ “complete defeat” was imminent. Showing aerial video from a military spy plane over the tiny area where the Tigers are staging a last stand, […]
Sri Lanka troops rescue 5,000 civilians: military
April 20, 2009 (AFP) – Sri Lankan security forces captured a defence line of cornered Tamil Tiger rebels on Monday and rescued at least 5,000 civilians being held as human shields, a military spokesman said.Soldiers took control of the three-kilometre (two-mile) embankment at Puthumathalan, inside the government-designated “no-fire” zone, spokesman Udaya Nanayakkara said. “We captured […]
Sri Lanka external trade shrinks
April 20, 2009 (LBO) – Sri Lanka’s external trade contracted sharply in February 2009 with the trade gap narrowing 75.5 percent, imports plunging 37.3 percent, exports falling 18.4 percent and remittances also easing 3.8 percent, the Central Bank said. Exports fell to 524.3 million US dollars from 642.6 million US dollars, with tea falling 33.4 […]
US leans on Sri Lanka IMF bailout
April 20, 2009 (LBO) – The United States, which has called for a political package to end Sri Lanka’s internal conflict and expressed concern over civilians caught in fighting, is flexing its muscles over an International Monetary Fund (IMF) bailout for the island.Sri Lanka has applied for at least 1.9 billion US dollars from the […]