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Oil nears 105 dollars in Asian trade
March 6, 2008 (AFP) – Oil edged close to 105 dollars a barrel in Asian trade early Thursday as investors fretted over an unexpected drop in US energy stockpiles, dealers said. It also said it was concerned that the current price “does not reflect market fundamentals (of real supply and demand).” OPEC’s decision to maintain […]
Roadside bomb kills Sri Lankan Tamil MP: party
March 6, 2008 (AFP) – A Sri Lankan Tamil lawmaker and his driver were killed Thursday in a roadside bomb attack that his party and Tamil Tiger rebels said was carried out by government forces. The vehicle of K. Sivanesan, a member of parliament for the pro-rebel Tamil National Alliance (TNA), was hit by a […]
Sri Lanka troops enter northeastern township: military
Mar 06, 2008 (LBO) – Sri Lankan troops have captured a Tamil Tiger held town in the northwestern Mannar area of the island as part of a bid to cut off a supply route to the guerilla stronghold from the coast, the military said. Parappakandal, around 20 kilometres to the east of Mannar town, is […]
International rights panel quits Sri Lanka
COLOMBO, March 6, 2008 (AFP) – A top foreign panel invited by Sri Lanka to observe investigations into human rights abuses announced Thursday it was quitting the island and accused Colombo of failing to tackle the issue. The International Independent Group of Eminent Persons (IIGEP), headed by India’s former chief justice P. N. Bhagwati, said […]
”: rights group
COLOMBO, March 6, 2008 (AFP) – Sri Lanka is one of the world’s worst perpetrators of “disappearances” and abductions, Human Rights Watch said Thursday, calling for a UN mission to monitor rights abuses on the island. At least 1,500 people “disappeared” in 2006 and 2007, mostly in the island’s restive north and east, with the […]
Sri Lanka says war losses higher
March 5, 2008 (AFP) – Sri Lanka said Wednesday that 100 of its soldiers were killed and a further 800 wounded fighting the Tamil Tigers last month, showing the escalating conflict is bloodier than previously announced.The casualty figures were given in a statement to the national parliament by Health Minister Nimal Siripala de Silva, and […]
Sri Lanka loan deal to Standard Chartered and Deutsche Bank
March 5, 2008 (LBO) – Standard Chartered and Deutsche Bank has won a deal to raise up to 300 million dollars for Sri Lanka, priced 259 to 370 basis points above London benchmark rates, the government’s debt office said. . Standard Chartered has been mandated to raise 150 million dollars and go up to a […]
Sri Lankan shares lose momentum
Mar 05, 2008 (LBO) – Sri Lankan stocks lost momentum Wednesday with the indices barely managing to maintain the previous day’s gains and trading in York Arcade and John Keells Holdings being the main activity.The All Share Price Index up just 3.98 points to close at 2,566.23 and the more liquid Milanka went up 2.87 […]
Asset Class
Mar 05, 2008 (LBO) – Borrowing for day to day government spending has increased the cost of money for Sri Lankan companies and families struggling to get their first mortgage. A Malaysian economist says experience from his country suggests that the government could start a specialist infrastructure bonds, and create a market among pension funds, […]
Skating Tower
March 05, 2008 (LBO) – Sri Lanka’s Ceylinco Consolidated has inked an agreement with the country’s investment promotion agency to set up its second shopping and apartment complex in the suburbs of Colombo. The 33 million US dollar project, “Realty Tower”, has 18 floors and will be built in the Colombo suburb of Nawala, on […]