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KARACHI, January 20, 2009 (AFP) – Pacemen Rao Iftikhar took a career-best 4-42 to help Pakistan restrict Sri Lanka to 219 in the first day-night international at the National Stadium here Tuesday.The 28-year-old medium pacer removed top-scorer Kumar Sangakkara (49), skipper Mahela Jayawardene (one) and Thilan Thushara (nought) to derail the visitors who had a […]
Sri Lanka among countries poorly prepared to face global crisis
Jan 20, 2009 (LBO) – Sri Lanka is among 25 percent of countries that are poorly equipped to deal with the global financial crisis, and needs fiscal as well as external adjustment to stabilize itself, a World Bank economist said. Claus Astrup, World Bank’s senior country economist in Sri Lanka said about 40 percent of […]
Sri Lanka World Bank head says global crisis failure of government
Jan 20, 2009 (LBO) – The meltdown of the global economic system is not a collapse of capitalism and markets but rather a failure of government, World Bank’s Sri Lanka country director Naoko Ishii said.Ishii said the collapse of banks and falling prices of financial markets have been interpreted by some as a failure of […]
Sri Lanka spends US$125mn defending rupee in December
Jan 19, 2009 (LBO) – Sri Lanka has spent 125 million US dollars defending the rupee in foreign exchange markets in December in a month that saw the rupee weaken at a faster rate, the latest data shows. The monetary base of the country (reserve money) was at 259 billion last week from 253 billion […]
Sri Lanka stocks rise on small investor enthusiasm
Jan 19, 2009 (LBO) – Sri Lankan shares rose almost across the board Monday in a minor rally driven by small investors speculating that military gains against Tamil Tiger rebels and lower interest rates might revive the economy, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Travel Ban
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it had won a court order impounding the passports of several officials of Okanda Finance Limited, an unlicensed finance company, to prevent them leaving the country. A bank statement said four of six organisations and individuals carrying on finance business without authority had failed to […]
Cairn India gets nod for new Indian field
Jan 19, 2009 (LBO) – Cairn India, which has won a license to explore for oil off Sri Lanka’s west coast, said it got Indian government approval to go ahead with the development of an oil field in north-west India. The company said it holds material exploration and production positions in west India and east […]
Sri Lanka troops find plane wreckage
January 19, 2009 (AFP) – Sri Lankan troops have found the wreckage of an aircraft near an air strip captured from Tamil Tiger rebels in the north of the island, military officials said on Monday.The wreckage was found on Sunday in the jungles around Mullaittivu, the last stronghold of the Liberation Tigers of Tamil Eelam […]
‘s most wanted Tiger running out of options
January 19, 2009 (AFP) – Sri Lanka’s top Tamil Tiger, who inspired hundreds of followers to stage suicide bombings in the fight for a separate state, is facing his biggest challenge yet and is fast running out of options. To his followers, Velupillai Prabhakaran is seen as a “Sun God” who formed a formidable and […]
Sri Lanka cricket feels squeeze as sponsors take flight
January 19, 2009 (AFP) – Sri Lanka’s economic slowdown has taken its toll on the island’s hugely popular sport of cricket as long-term sponsor disappear, sports minister Gamini Lokuge said on Monday.During the three-month trial that ends on March 31, Sri Lanka will play two Tests and three one-day internationals in Pakistan and host India […]