Author: lbostgadmin
Sri Lanka shrinks safe zone for civilians
May 8, 2009 (AFP) – Sri Lanka on Friday reduced the size of the “safe zone” for civilians trapped in the island’s northeast where government forces are leading a final assault against Tiger rebels.Military spokesman brigadier Udaya Nanayakkara said the civilian safe zone (CSZ) was made smaller as fighting was raging on the outskirts. The […]
Sri Lanka troops kill 35 Tigers: military
May 9, 2009 (AFP) – Sri Lankan troops killed at least 35 Tamil Tiger rebels during heavy clashes just outside the newly demarcated “safety zone” for war-trapped civilians, the defence ministry said on Saturday.Security forces who captured a mud embankment built by the Liberation Tigers of Tamil Eelam (LTTE) on Thursday moved deeper into the […]
British actress runs absolutely fabulous Gurkha campaign
LONDON, May 9, 2009 (AFP) – British actress Joanna Lumley’s best-known role used to be as a boozy fashionista in hit comedy “Absolutely Fabulous”, but now she is dominating TV screens as a formidable campaigner for Gurkha soldiers.Lumley — leading a campaign for all Nepalese fighters in Britain’s army to be allowed to settle here […]
Learning Centre
May 09, 2009 (LBO) – Sri Lanka’s Institute of Technological Studies (ITS) which has formed a partnership with a foreign partnership to start a medical college says its output will be readily absorbed in to healthcare sector.ITS head E M S Edirisinghe, who is also the president of the Oasis, a private hospital says there […]
Bank Chase
May 9, 2009 (LBO) – Two Sri Lankan financial firms, Lanka Orix Leasing Company and Sampath Bank are most likely to have submitted bids for a one-third stake in Seylan Bank, market sources said. The successful bidder would have to inject at least 5.7 billion rupees to the bank in return for a 33 percent […]
Global economic recovery may be W shaped: Steve Hanke
May 08, 2009 (LBO) – Recent rallies in stock markets may be short-lived, and a ‘W’ patterned economic revival is more likely if the Fed fails to quell an expected inflation bout early, a top monetary economist has warned. “I believe we are headed for a W-shaped recovery, with a down-up-down pattern,” Steve Hanke, professor […]
Sri Lanka gambling on monsoon onset to avoid power cuts
May 8, 2009 (LBO) – Sri Lanka has not yet discussed power cuts, a senior government minister said as hydro storage at the country’s state run power utility ran towards a critical level which may trigger compulsory load shedding. CEB now has an installed thermal capacity of 1250MW and 1,100MW of hydro capacity. However the […]
Sri Lanka troops break more Tiger defences: ministry
May 8, 2009 (AFP) – Sri Lankan soldiers have overrun another Tamil Tiger defence line standing between government troops and the small strip of territory still held by the ethnic rebels, the defence ministry said Friday. In heavy fighting late Thursday, troops captured a mud embankment built by the Liberation Tigers of Tamil Eelam (LTTE) […]
Sri Lankan president says war nearly over
May 7, 2009 (AFP) – The president of Sri Lanka said Thursday the island’s long-running war against the separatist Tamil Tigers was “rapidly” nearing its end. Sri Lanka’s main Tamil moderate party meanwhile demanded an immediate truce, saying a final assault against Tiger rebels would inevitably lead to more civilian deaths. The Tamil United Liberation […]
Japanese takeover of Indian drug firm costly pill to swallow
NEW DELHI, May 8, 2009 (AFP) – Japanese drugmaker Daiichi Sankyo is finding its acquisition of Ranbaxy difficult to digest after US regulatory setbacks and big losses reported by the Indian generics player.Daiichi Sankyo announced its 4.6-billion-dollar acquisition for a 64 percent stake in India’s biggest generic drugmaker by sales last June to gain entry […]
Labour Rights
May 08, 2009 (LBO) – Sri Lankan labour unions have signed co-operation agreements with unions in Bahrain, Jordan and Kuwait to protect migrant workers™ rights, the International Labour Organisation (ILO) said.The agreements, based on an ILO model, are the first of their kind covering Asian migrant workers active in Arab states. The ILO said it […]
Higher Margins
May 08, 2009 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) said group net profit for the March quarter rose 25 percent to 180 million rupees from a year ago.The bottom line was boosted by higher interest income as well as earnings from bond and forex trading although loan growth has slowed. NTB said in […]