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IMF board approves 7.6 billion dollar credit to Pakistan
WASHINGTON, November 24, 2008 (AFP) – The International Monetary Fund said Monday its executive board approved a credit of 7.6 billion dollars for Pakistan, the Fund’s first rescue in Asia since the global financial crisis began. The credit will “support the country’s economic stabilization program,” the IMF said in a brief statement. The Fund and […]
Sri Lanka poised to take Tiger HQ despite rains: military
November 25, 2008 (AFP) – Security forces ambushed and killed scores of Tamil Tigers in northern Sri Lanka on Tuesday, the defence ministry said, adding its troops were poised to take the rebels’ political capital. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Government soldiers occupying a […]
Tamil Tiger chief to make annual speech as fiefdom crumbles
November 25, 2008 (AFP) – The reclusive leader of Sri Lanka’s Tamil Tigers is to deliver his annual policy address this week from a besieged jungle hideout that could soon be totally overrun by government troops.With his northern fiefdom shrinking fast in the face of a massive onslaught, Velupillai Prabhakaran is expected to use Thursday’s […]
Sri Lanka Cricket hunts for new sponsors
Nov 25, 2008 (LBO) – Sri Lanka Cricket has sought new commercial deals to sponsor the national team during their local and foreign tours, which include a visit to India. SLC’s main source of revenue comes from selling television rights.
Zimbabwe batsmen recover but Sri Lanka take series
HARARE, November 24, 2008 (AFP) – A transformation in Zimbabwe’s batting almost earned them a shock victory over Sri Lanka here Monday in the third of five internationals. They followed the Sri Lanka score of 171 for seven in the allocated 28 overs following morning rain with 166 for seven to lose by only five […]
Greenlanders go to the polls to decide on self-rule
NUUK, November 25, 2008 (AFP) – Some 39,000 people in Greenland vote on Tuesday in a referendum on self-rule for the Danish territory, a move that could pave the way for total independence for the Arctic island.Public opinion polls in the run-up to the referendum have suggested that a large majority plan to vote in […]
Sri Lanka cuts reserve ratio to 7.75-pct
Nov 25, 2008 (LBO) – Sri Lanka has cut its statutory reserve ratio for commercial banks from 9.25 percent to 7.75 percent, releasing 17 billion rupees in cash to the banking system, the central bank said. The statutory reserve ratio (SRR) cut will release 17 billion rupees to the banking system when it becomes effective […]
Gulf shares slump despite government moves
KUWAIT CITY, November 23, 2008 (AFP) – Most stock markets in the energy-rich Gulf slumped on the week’s opener Sunday as intervention by governments failed to restore sentiment among investors worried by global financial turmoil. Riyadh cut interest rates for the third time in six weeks, slashing the repo rate by one percentage point a […]
Sri Lanka state bank raises Rs4.2bn from bonds
Nov 24, 2008 (LBO) – Sri Lanka’s state-run Bank of Ceylon has raised 4.27 billion rupees from 5-year bonds in fixed and floating rates, issue managers Merchant Bank of Sri Lanka said. The debenture would be listed on the DEX board of the Colombo Stock Exchange. Bank of Ceylon has a ‘AA(lka)’ rating from Fitch.The […]
Sri Lanka injects term money at lower rates; CB bill stock Rs109bn
Nov 24, 2008 (LBO) – Sri Lanka’s central bank has printed and injected money up to nine months at rates lower than its penal discount window to sterilize interventions in the forex market, the latest data showed. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The rupee […]