Author: lbostgadmin
Sri Lanka may get IMF funds in 4-6 weeks: official
May 21, 2010 (LBO) – The International Monetary Fund (IMF) is likely to release the next tranche of its program loan to Sri Lanka in 4-6 weeks if its management and board are satisfied with the island’s budget deficit for 2010, an official said. Policy talks were encouraging, visiting IMF mission chief Brian Aitken told […]
Rights group offers new evidence of Sri Lanka war crimes
May 21, 2010 (AFP) – A global human rights monitor said Friday it had fresh evidence of possible war crimes committed in Sri Lanka during the final phase of the government’s war against Tamil Tiger rebels. The New York-based Human Rights Watch (HRW) said it had examined over 200 photos taken on the front lines […]
‘s Dilshan to lead in Zimbabwe
May 20, 2010 (AFP) – Batsman Tillakaratne Dilshan has been appointed to lead the squad to Zimbabwe for a tri-nation one-day international series that also involves India, Sri Lanka Cricket said Thursday. Several senior players including captain Kumar Sangakkara, former skipper Mahela Jayawardene, Lasith Malinga and Sanath Jayasuriya, who had a dismal World Twenty20 tournament […]
Sri Lanka palm oil firm sees demand growing
May 21, 2010 (LBO) – A Sri Lankan business group with palm oil plantations in east Asia has said demand for the edible oil is likely to grow, driven mainly by China and India, with prices having stabilized at more realistic levels. The Carson Cumberbatch group controls palm oil plantations in Indonesia and Malaysia through […]
Sri Lankan tea prices fall
May 21, 2010 (LBO) – Sri Lankan tea prices fell sharply at this week’s Colombo auctions with a larger weight on sale, lower quality and reduced demand, brokers said. “Auction quantities were substantially higher this week and totalled 8.0 million kilos,” Forbes & Walker Tea Brokers said in a report. “There was less demand and […]
Foreign Remittance
May 21, 2010 (LBO) – Inward remittances handled by Sri Lanka’s Bank of Ceylon (BOC) rose 22.7 percent in April 2010 despite other private commercial banks eating into its market share, a senior official said. “We see that our inward remittances are growing because people are sending hard currencies for savings and investments,” Gamini Wickramasinghe, […]
Sri Lanka stocks close down 0.30-pct on profit taking
May 21, 2010 (LBO) – Sri Lankan stocks closed down Friday as retail investors took profits ahead of a possible technical correction in future, while heavy interest on John Keells Holdings (JKH) and Hayleys boosted turnover, brokers said. The All Share Price Index closed at 4,235. 69, down 12.68 points, while the Milanka index of […]
Sri Lanka holds policy rate steady
May 20, 2010 (LBO) – Sri Lanka’s central bank said it was holding policy rates steady at 9.75 percent amid a pick up in bank credit to private businesses and a dip in annual inflation in April 2010. “Developments in the monetary sector have been encouraging,” the Central Bank said. “Credit obtained by the private […]
Oil Sales
May 20, 2010 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation said it lost 422 million rupees in the year to March 2010 down from 1,237 million a year earlier and had boosted bunkering sales to 15 percent of its total revenues. Lubricant sales had risen to 5. 6 million litres […]
Inmates on hunger strike in Japan immigration centre
TOKYO, May 20, 2010 (AFP) – Scores of foreigners in a Japanese immigration detention centre have been on hunger strike for more than a week, demanding to be released and protesting the mysterious death of an African deportee. Some 70 detainees — many of them Sri Lankans and Pakistanis — have refused food since May […]
Sri Lanka failed to build on war victory: former general
May 20, 2010 (AFP) – The detained Sri Lankan general who led soldiers to victory over Tamil Tiger rebels one year ago accused the government Thursday of failing to convert his success into a new era of peace. Sarath Fonseka, a key architect of the strategy that finally defeated the Tigers after decades of bloody […]
Sri Lanka Lalith Kotelawala to quit Ceylinco Insurance board
May 20, 2010 (LBO) – Sri Lanka’s Ceylinco group chairman Lalith Kotelawala, who spent months in remand over fraud charges at an unlisted subsidiary that collapsed, is to step down from the board of Ceylinco Insurance, a stock exchange filing said. Kotelawala has informed the board and staff that he “will not be available for […]