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Sea Bandits
HONG KONG, November 20, 2008 (AFP) – A Hong Kong-flagged ship captained by a Sri Lankan that was hijacked two months ago off the coast of Somalia is returning home after its owner paid a ransom to a group of pirates, AFP was told Thursday. A spokeswoman for Sinotrans Shipping said its vessel Great Creation […]
Financial Turmoil
Nov 20, 2008 (LBO) – A senior Sri Lankan central banker says the collapse of the global financial sector has underlined the value of real output and resources but that it could dampen consumption. Central Bank Deputy Governor W A Wijewardena said that the entire financial market is now going through turmoil. He was speaking […]
Sri Lanka tea prices down; quality improves, volumes fall
Nov 20, 2008 (LBO) – The quality of black tea production in Sri Lanka has improved while quantities are coming down, as producers tightened standards in response to the crisis caused by the collapse in prices, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Reduced […]
Sri Lanka takes Tiger defences, kills scores: defence ministry
November 20, 2008 (AFP) – Sri Lankan security forces on Thursday captured a key defence line of Tamil Tiger rebels after six days of intense fighting that left “scores” of guerrillas dead, the defence ministry said.The rebels are locked in a decades-long war with the government to carve out a homeland for minority Tamils. To […]
Sri Lanka govt, Tigers slammed by Amnesty over civilians in war zone
November 19, 2008 (AFP) – Amnesty International on Wednesday said Sri Lanka was unable to provide for the basic needs of 300,000 people trapped inside rebel-held areas and accused Tiger guerrillas of using them as human shields.“The abuses carried out by the LTTE make our call for international monitors to be allowed to visit conflict-affected […]
Global news agencies boycott Australian cricket
SYDNEY, November 20, 2008 (AFP) – Global news agencies have boycotted coverage of the first cricket Test between Australia and New Zealand starting Thursday because of conditions imposed by organisers.The agencies — Agence France-Presse, Associated Press, Reuters and Getty Images — have also suspended coverage of all Australian cricket news until further notice over demands […]
Sri Lanka has a chance to attract shifting industries: economist
Nov 20, 2008 (LBO) – Sri Lanka has a chance to attract industries from advanced nations in the wake of current turmoil if the country can put its house in order with a longer term view and create a strong base for industry, an economist has said. To receive instant alerts from LBO on your […]
Sri Lanka treasuries yields flat
Nov 19, 2008 (LBO) – Sri Lanka treasuries yields were flat with only 1.7 billion rupees of bills out of a maturing tranche of 5.0 billion rupees being sold, the government’s debt office said.Meanwhile, dealers said 2-year bonds were being offered at 21.0 percent. The 3-month yield was 17.20 percent, the 6-month yield 18.28 percent […]
Sri Lankan stocks close 2.0-pct lower
Nov 19, 2008 (LBO) – Sri Lankan stocks closed 2.0 percent lower Wednesday with a poor earnings outlook and high interest rates keeping buyers at bay, and the effects of a global downturn biting harder, dealers said. The Colombo All Share Price Index fell 36.41 points to end at 1,717.52 while the Milanka index of […]
Property Lure
Nov 19, 2008 (LBO) – Several Sri Lankan government institutions are scrambling to get land in a government property near the capital Colombo whose ownership reverted back to the state on a recent court order, a senior official said Court had ordered how the land could be used for its original flood retention purposes. Ramanujam […]