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IMF approves US$47 flexi credit line for Mexico
WASHINGTON, April 17, 2009 (AFP) – The International Monetary Fund approved a 47-billion-dollar credit line for Mexico Friday under a new scheme designed to throw a cash lifeline to countries hit by the global economic crisis. “The Mexican authorities have stated they intend to treat the arrangement as precautionary and do not intend to draw […]
Sri Lanka looks to raise US$500mn abroad
April 17, 2009 (LBO) – Sri Lanka is looking to raise 500 million dollars from international markets when conditions turn more favourable, while rolling over about 300 million dollars more in maturing dollar debt in 2009, an official said. Global financial markets have turned risk averse compared to two years ago when Sri Lanka sold […]
Sri Lanka shares close up 1.9-pct; rupee weakens
Apr 17, 2009 (LBO) – Sri Lankan shares closed up 1.9 percent Friday, supported by retail interest on large cap stocks, while the rupee weakened to 116.00 levels of state bank buying, dealers said. The rupee closed 116.05/15 against the US dollar, after opening stronger at 115.75/80 levels. State banks were on the buying side […]
Convicted
LONDON, April 17, 2009 (AFP) – A London court convicted a man described as the head of the Tamil Tigers in Britain on two terror-linked charges Friday, including supplying bomb-making equipment to the Sri Lankan group. Arunachalam Chrishanthakumar, 52, was found guilty of coordinating supplies of material to the Liberation Tigers of Tamil Eelam (LTTE). […]
Pay Back
April 17, 2009 (LBO) – The pay TV business of Sri Lanka’s Dialog Telekom group will take time to become profitable, with break even estimated at around 250,000 customers, its chief executive Hans Wijayasuriya said. Losses in the pay TV business of the company, a unit of Telekom Malaysia, contributed to an annual group loss […]
US to give Pakistan one bln dlrs in aid
TOKYO, April 17, 2009 (AFP) – The United States will give Pakistan one billion dollars in aid over two years, the US envoy Richard Holbrooke announced Friday as an international donors’ conference opened in Tokyo. Holbrooke “announced the United States’ intent to provide support to the government of Pakistan totalling one billion dollars over a […]
UN calls for pause in Sri Lanka fighting to allow aid in
GENEVA, April 17, 2009 (AFP) – The United Nations on Friday renewed its call for a pause in fighting between Tamil Tiger rebels and government troops in order to allow civilians trapped by the conflict to flee.“UNICEF is calling for a ceasefire and for a humanitarian pause which allows humanitarian workers to access the conflict […]
Sri Lanka has chance to end conflict: US
WASHINGTON, April 16, 2009 (AFP) – The United States on Thursday urged an immediate ceasefire in Sri Lanka to save thousands of trapped civilians, saying the Colombo government had a chance to finally end three decades of war. “We call upon the government and military of Sri Lanka and the Tamil Tigers to immediately stop […]
Top UN official in Sri Lanka
UNITED NATIONS, April 16, 2009 (AFP) – UN chief Ban Ki-moon has dispatched a top aide to Sri Lanka to try to ease the plight of tens of thousands of civilians trapped by fighting between government forces and Tamil separatists, a UN spokesman said Thursday. Farhan Haq told AFP that Vijay Nambiar, Ban’s chief staff, […]
Sri Lanka looks at cutting working week, easing layoffs
April 17, 2009 (LBO) – Sri Lanka’s labour ministry says a request by the private sector to cut the working week to five days to deal with an economic slump, is timely and attempts would be made to reach a deal fast. Sri Lanka’s private sector has asked to end a half-day of work Saturday […]