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Sri Lanka keeps up air strikes on rebel territory
Feb 15, 2008 (AFP) – Sri Lankan war planes carried out bombing raids Friday inside territory held by Tamil Tiger guerrillas, the defence ministry said.A training camp of the Liberation Tigers of Tamil Eelam (LTTE) was targeted in Friday’s attack, which followed a similar raid on Thursday, the ministry said. The air attacks are part […]
India calls for naval alliance with Sri Lanka and other countries
NEW DELHI, (AFP) – India called for an alliance of navies to boost security at sea at its first naval summit Thursday with nations that have a stake in the busy maritime lanes of the Indian Ocean.The summit will wind up on Friday with a closed-door conclave of the naval chiefs in the Indian seaside […]
Sri Lanka slams S&” outlook cut
Feb 15, 2008 (LBO) – Sri Lanka’s central bank has slammed Standard and Poor’s (S&P) over an outlook cut saying the move was unwarranted, illogical, ill-advised, and without rational basis. “It is abundantly clear that S&P has chosen to overlook the many favourable factors and are, for reasons best known to them, suddenly discovering weaknesses […]
Sri Lanka trade deficit stable in 2008, exports up in December
Feb 15, 2008 (LBO) – Sri Lanka’s trade deficit grew a mere 5.6 percent in 2007, and exports in December soared 22.7 percent to 863.4 million dollars, the Central Bank said. The trade balance grew to 3,560 million dollars in 2007 with exports growing 12.5 percent to 7.7 billion dollars, and imports growing 10.2 percent […]
Sri Lanka, emerging Asia would gain from prudent monetary policy: S&P
Feb 15, 2008 (LBO) – Countries that resist pressure to ease monetary policy would make long term gains, the rating agency Standard and Poor’s said in a report on 11 Asian nations that showed Sri Lanka had the highest forecast inflation in 2008. “Some central banks will likely yield to calls to support growth and […]
Sri Lanka tile shares rise on earnings outlook
Feb 14, 2008 (LBO) – Sri Lankan shares closed virtually flat Thursday with investors chasing stocks of ceramic tile firms expected to report higher earnings on strong demand from the construction sector, brokers said. The All Share Price Index ended just one and a half points down at 2,505.90 while the more liquid Milanka index […]
Foreign Boost
Feb 14, 2008 (LBO) – Sri Lanka’s Sanasa Development Bank, which has roots in the micro-finance sector, will get cash from foreign partners to meet regulatory capital requirements, an official said. A unit of Singapore’s Orient Global has injected 71 million rupees in Sanasa and has received the regulatory nod to invest up to 15 […]
‘s Baurs goes deeper into infant food
Feb 14, 2008 (LBO) – Sri Lanka’s diversified A. Baur & Company has launched a new powdered milk brand to boost its share in the premiumn infant milk powder business. Baurs says it already has a 20 percent market share in the infant milk powder segment. The product, ‘Enfakid’, developed by US food giant Mead […]
Sri Lanka tea prices seen staying strong
Feb 14, 2008 (LBO) – Sri Lankan tea prices are forecast to stay strong this year because of international supply disruptions caused by the violence in Kenya and rising demand from consumers in oil-rich countries, brokers said. “Problems in Kenya will definitely have an impact on global supply during the first quarter of 2008,” brokers […]
Indian Ocean naval summit opens
NEW DELHI, Feb 14, 2008 (AFP) – India on Thursday launched its first naval summit aimed at forging ties with nations that have a stake in the busy maritime lanes of the Indian Ocean.Twenty-six representatives of navies from countries including Australia, Egypt, France and Sri Lanka are attending the Indian Ocean Naval Symposium (IONS), seen […]