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Sri Lanka, UN in anti-corruption effort
Jan 28, 2009 (LBO) – Sri Lanka’s government and the United Nations Development Programme (UNDP) are to launch a programme to fight corruption, a UNDP statement said.The project, called ‘Support Efforts and Action against Corruption in Sri Lanka’ (SEAC) will be a three-year effort aimed at combating corruption and promoting accountability and transparency in public […]
Sri Lanka court allows oil derivative payments
Jan 27, 2009 (LBO) – Sri Lanka’s Supreme Court has ended a freeze on payments by state-run Ceylon Petroleum Corporation to commercial banks on derivatives of nearly a million barrels of crude and refined products.In November 2008 Sri Lanka’s Supreme Court halted payments by CPC on oil derivatives struck with Citibank, Standard Chartered, Deutsche Bank, […]
Sri Lanka stocks fall on profit taking
Jan 27, 2009 (LBO) – Sri Lankan share prices fell on profit taking Tuesday after a sharp rise the day before, but Commercial Bank gained on a court ruling that ended a freeze on oil hedge payments by the state oil refiner. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Heavy Lift
Jan 27, 2009 (LBO) – Colombo port will start taking delivery of the first batch of new cargo handling equipment to replace aging cranes from May this year, Sri Lanka Ports Authority chairman Priyath Wickrama said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Two pier-side gantry […]
Bonus Interest
Jan 27, 2009 (LBO) – Sri Lanka’s Central Bank said the government will pay a 20 percent bonus interest in rupees on the interest earned on foreign currency deposits in banks from February 1.“This aims to promote inflows of foreign remittances into Sri Lanka through the banking channels as well as to promote the general […]
Sri Lanka army moves to take last coastal strip from Tigers
KUMALAMUNAI, January 27, 2009 (AFP) – Sri Lankan troops making rapid progress against Tamil Tiger fighters have nearly recaptured the only stretch of coastline still held by the rebels, a commander in the field said Tuesday.Soldiers backed by tanks and air cover were battling to establish full control over the 30-kilometre (18 mile) stretch of […]
Sri Lanka Tiger chief still in Sri Lanka: report
January 27, 2009 (AFP) – Sri Lanka’s elusive Tamil Tiger leader Velupillai Prabhakaran is still on the island and leading his fighters as they struggle to avoid total defeat, a news report said Tuesday. Prabhakaran, 54, is in the island’s northeastern district of Mullaittivu where his guerrillas are cornered by a massive military offensive, the […]
” draws EU concern
BRUSSELS, January 26, 2009 (AFP) – EU officials told Sri Lankan Foreign Minister Rohitha Bogollagama of their concern at the “humanitarian crisis” in the north of the country, especially “the rising civilian casualties in the conflict zone.” EU External Relations Commissioner Benita Ferrero-Waldner underlined that “international standards must be respected” and that unrestricted access be […]
Sri Lanka apparel firms mull investments in former war zone
Jan 27, 2009 (LBO) – Sri Lankan apparel exporters said they are considering expanding into the former war-zone in the island’s north and east from where Tamil Tigers have been driven out.Ajith Dias, chairman of the Joint Apparel Association Forum, an industry umbrella body, said the government is trying to encourage apparel companies to set […]
Indian foreign minister to visit Sri Lanka as rebels retreat: report
NEW DELHI, January 27, 2009 (AFP) – India’s foreign minister was set to visit Sri Lanka Tuesday as the Tamil Tiger rebels struggled to defend their last remaining strongholds, the Press Trust of India reported.Pranab Mukherjee was expected to meet Sri Lankan President Mahinda Rajapakse to push for a lasting political solution to the long-running […]