Author: lbostgadmin
Sri Lanka tea prices fall as crop increases
May 15, 2009 (LBO) – Sri Lankan tea prices fell at the Colombo auctions this week but brokers said there was better demand for the increased volumes on offer.They said that despite the generally lower prices some well-made teas fetched record prices. Tea industry officials said production had recovered from the effects of drought earlier […]
Sri Lankan shares up, Asia Capital stake sold
May 15, 2009 (LBO) – Sri Lankan shares went up across-the-board Friday on news the war would end in the next few days, while 26.83 percent of Asia Capital shares changed hands in a local to foreign deal, broker said. The All Share Price Index of the Colombo stock exchange rose 1.23 percent (23.25 points) […]
Sri Lanka dismisses US threat to hold back IMF loan
May 15, 2009 (AFP) – Sri Lanka dismissed Friday a US threat to link a nearly two-billion-dollar IMF bailout package to ending the war-torn island’s humanitarian crisis. Despite Clinton’s remarks, Cabraal said he was confident the rescue package would be approved. “There are conflicts in many countries and I don’t think the IMF will set […]
Sri Lanka central bank “deeply distressed”‘s IMF remarks
May 14, 2009 (LBO) – Sri Lanka’s central bank said it was “deeply distressed” over doubts raised by Britain’s foreign minister about the use of money from an expected International Monetary Fund loan. IMF money goes into the balance sheet of the central bank, which is a separate entity from the finance ministry. Through the […]
Sri Lanka working on alternatives to IMF money: CB Governor
May 14, 2009 (LBO) – Sri Lanka is working on a back-up plan with other countries to boost foreign reserves in addition to an International Monetary Fund (IMF) loan, Central Bank governor Nivard Cabraal said.“All of us must have a plan A, plan B, plan C and plan D if possible and we are working […]
Sri Lankan youth in former war zone get US training
May 14, 2009 (LBO) – The US Agency for International Development (USAID) said it is providing training scholarships to 500 young people from Sri Lanka’s north and east which is recovering from decades of war.The scholarships are given through the agency’s Unlimited Potential Partnership program (UPP) which currently provides workforce training programs in three key […]
Sri Lanka Janashakthi on negative rating watch
May 14, 2009 (LBO) – The ‘BBB+’ claims-paying-ability rating of Sri Lanka’s Janashakthi Insurance has been put on watch with a negative outlook following the suspension of its license by the regulator, Ram Rating Lanka said. A ‘positive’ outlook indicates that a rating may be raised while a ‘negative’ outlook indicates that a rating may […]
UN urges protection of civilians in strife-torn Sri Lanka
UNITED NATIONS, May 13, 2009 (AFP) – The UN Security Council on Wednesday urged the warring sides in Sri Lanka to ensure the safety of civilians, voicing “grave concern’ at the “worsening humanitarian crisis” there.It unanimously adopted a non-binding statement that expressed “grave concern over the worsening humanitarian crisis in northeast Sri Lanka, in particular […]
Obama asks Tamil Tigers to surrender
May 14, 2009 (LBO) – US President Barack Obama has called on Tamil Tigers to lay down their arms and the the Sri Lankan government to take greater care to ensure the safety of civilians caught in the conflict.“Going forward, Sri Lanka must seek a peace that is secure and lasting, and grounded in respect […]
Sri Lanka rejects pressure over war: minister
May 14, 2009 (AFP) – Sri Lanka’s government on Thursday rejected international calls for a halt to the war against Tamil Tiger rebels, hours after the UN Security Council called for civilian lives to be spared.“We are not going to succumb to international pressure to stop the offensive,” Media Minister Lakshman Yapa Abeywardena told reporters. […]
Sri Lanka Tamil Tigers using phosphorus to halt final attack: military
May 14, 2009 (AFP) – The Sri Lankan military on Thursday accused Tamil Tigers of using phosphorus bombs as part of their last-ditch attempt to face off against a massive onslaught by government troops.A military statement said the once-powerful rebel force, now surrounded in a four square kilometre (1.5 square mile) patch of jungle on […]
Cyber Warfare
May 14, 2009 (LBO) – Sri Lanka’s information technology (IT) security market is poised to grow given rising computer use among business and government, online transactions and number of broadband subscribers, a new study says. Some of the key areas like the evolving role of the Chief Information Security Officer, enterprise best practices in security […]