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Hedge Deal
Jan 27, 2009 (LBO) – Sri Lanka’s Supreme Court Tuesday terminated proceedings in a case against oil hedges by the state-owned refiner, Ceylon Petroleum Corporation, with all interim orders that suspended payments to banks ceasing to be operative.The Supreme Court said it was terminating proceedings as the government did not comply with its orders to […]
Sri Lanka stocks lifted by war victories, higher tea prices
Jan 26, 2009 (LBO) – Sri Lankan share prices rose 3.19 percent Monday as investor sentiment was buoyed by more military gains against Tamil Tiger rebels with the fall of a guerrilla stronghold and selective buying by funds.Investments funds and high-net-worth individual investors also appeared to be slowly returning to the market after staying away […]
Sri Lanka tourist arrivals from major markets fall sharply
Jan 26, 2009 (LBO) – Tourist arrivals into Sri Lanka last year fell sharply from its main markets of India and Britain whose currencies also depreciated significantly against the dollar. Tourist industry analysts said that the downturn in tourism could worsen this year because of the weaker currencies and economic slowdown in key visitor generating […]
Obama to let states set higher emissions standards: report
WASHINGTON, January 26, 2009 (AFP) – President Barack Obama on Monday is expected to issue new regulations allowing several US states to set tougher car emissions and fuel efficiency standards, the New York Times reported, citing administration officials.He also will direct the Department of Transportation to immediately begin drafting automobile fuel-economy regulations to comply with […]
Sri Lanka civilians killed, wounded in shelling: UN
January 26, 2009 (AFP) – The United Nations said Monday at least 30 civilians had been killed in fighting between government forces and rebels in Sri Lanka amid a drive to root out the last pockets of Tamil Tiger resistance.The UN spokesman in Colombo, Gordon Weiss, said at least 10 civilians were killed on Monday […]
Sri Lanka Tigers set to return to guerrilla warfare
January 26, 2009 (AFP) – After a series of battlefield defeats, Sri Lanka’s Tamil Tiger rebels have lost their conventional fighting capability, but analysts say they will fight on using guerrilla tactics.Once known as a ruthlessly efficient separatist group, the Tamil Tigers over three decades established a de facto mini-state which in recent weeks has […]
Sri Lankan Tigers flee to jungle as troops take final bastion
January 26, 2009 (AFP) – Sri Lankan government troops were Monday pushing into the last pockets of jungle still held by Tamil Tigers after the capture of the rebels’ last urban stronghold and military headquarters.Soldiers on Sunday overran Mullaittivu, a northeastern coastal lagoon town that was the Tigers’ main base for more than a decade, […]
‘s Murali set for record double in India series
DAMBULLA, January 26, 2009 (AFP) – Ace Sri Lankan spinner Muttiah Muralitharan is poised to complete a record bowling double during the one-day series against India starting on Wednesday. The off-spinner is just three wickets short of surpassing former Pakistani paceman Wasim Akram’s world record of 502 one-day scalps, having grabbed 500 in 324 matches […]
Sri Lanka troops overrun last Tiger town: army chief
January 25, 2009 (AFP) – Sri Lankan troops on Sunday overran the last town controlled by Tamil rebels, army chief Lieutenant General Sarath Fonseka said, striking a significant blow in Asia’s longest-running ethnic conflict. “We have completely captured Mullaittivu,” the army chief said in a televised address to the nation. The fall of Mullaittivu is […]
Sri Lanka troops enter final Tiger town: govt
January 25, 2009 (AFP) – Sri Lankan troops on Sunday fought their way into Mullaittivu, the last town held by Tamil Tiger rebels who are holed up in the northeast of the island, a government spokesman said. “For the last time, I am telling the LTTE to lay down arms and surrender,” he said in […]