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January 21, 2009 (AFP) – Sri Lanka’s military Wednesday asked civilians living in the last remaining rebel-held areas in the island’s northeast to move into a declared safe zone ahead of a major showdown.The army said in a statement that it had declared a “safe zone” for tens of thousands of civilians trapped in the […]
Sri Lanka fires at intruding aircraft
January 21, 2009 (AFP) – Sri Lanka’s military said Wednesday its troops had opened fire on an intruding aircraft off the island’s north, where government forces are battling Tamil Tiger rebels.The unidentified aircraft was detected heading towards the island’s northeastern coast near Mullaittivu, the last town under the control of the Liberation Tigers of Tamil […]
Sri Lanka blast kills two: police
January 21, 2009 (AFP) – At least two people were killed and 11 others were wounded in a roadside bomb attack in eastern Sri Lanka on Wednesday, police said.The bomb, planted on a bicycle, went off in Batticaloa, 300 kilometres (190 miles) east of Colombo, a local police official said. “A policeman and another civilian […]
Sri Lanka apparel industry may lose 30-40,000 jobs
Jan 21, 2009 (LBO) – About 30-40,000 people employed in Sri Lanka’s apparel export industry may lose their jobs this year owing to a slow down in orders because of recession in key markets, a senior official said.Ajith Dias, chairman, Joint Apparel Association Forum, said the industry is also facing a brain drain with the […]
Sri Lanka apparel exporters say depreciation needed; bailout doubtful
Jan 21, 2009 (LBO) – Sri Lankan apparel exporters say a sharp depreciation of the rupee is needed, as demand falls in major markets and hurdles on a promised state bailout may limit its usefulness. The rupee has fallen to 113-114 against the dollar from around 108 last September. “If the rupee is around 118 […]
Sri Lanka central bank targets diaspora, currency swaps: interview
Jan 21, 2009 (LBO) – Sri Lanka’s central bank says it will persevere with its quantity targeting regime this year but also use other instruments if needed. It is also negotiating currency swaps with other central banks to have greater access to foreign currency. A weakening economic outlook at home and global economic troubles has […]
Sri Lanka small investors push up stock prices
Jan 20, 2009 (LBO) – Sri Lankan small investors pushed up share prices again Tuesday, fired by military gains against Tamil Tiger rebels and lower interest rates but lack of fund buying meant the upswing might not last, brokers said. “Last week, when the central bank announced the rate cut, the very next day the […]
Sri Lanka troops, Tamil Tigers in fierce naval battle
January 20, 2009 (AFP) – Sri Lanka’s navy Tuesday destroyed four Tamil Tiger boats and killed 16 guerrillas trying to escape as government soldiers close in on the rebels’ last base in the northeast, the military said.Officials said the pre-dawn naval battle erupted in waters off Mullaittivu, a jungle and lagoon area and the last […]
Sri Lanka slammed by press body after murder, assaults
January 20, 2009 (AFP) – Sri Lanka’s inaction after a series of assaults and killings of journalists has left a “dark stain” on the government’s credibility, the International Press Institute warned Tuesday.The media rights group condemned the “culture of impunity and indifference” shown by the government after a senior editor was murdered and a privately […]
‘s Kingfisher Airlines
Jan 20, 2009 (LBO) – In the wake of global airline bankruptcies and route cuts, India’s Kingfisher Airlines has expanded its international presence with flights to Sri Lanka, and plans for daily connections from Bangalore and Chennai to Colombo. “We have plans to expand quite considerably this year, and choose Colombo as it’s our nearest […]