Author: lbostgadmin
‘s call for ceasefire: ministry
May 4, 2009 (AFP) – Sri Lanka on Monday rejected a Canadian call for a ceasefire in the military campaign against cornered Tamil Tiger guerrillas in the island’s northeast, the foreign ministry said.Sri Lanka’s Foreign Minister Rohitha Bogollagama told the visiting Canadian Minister for International Cooperation Beverly Oda that a previous unilateral truce by the […]
Shorter Deadline
May 04, 2009 (LBO) – Sri Lanka’s central bank which is collecting information on assets of Golden Key Credit Card, a collapsed financial firm, said its officials and past officials should declare assets by May 05. The Central Bank brought forward the deadline following a court order on April 27 which required information to be […]
Sri Lanka shares buoyed by institutional buying
May 04, 2009 (LBO) – Sri Lankan shares ended firmer Monday, lifted by investments from institutional investors taking a long-term view as the rupee remained becalmed around 120.00 – 120.10 against the dollar, brokers and dealers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All […]
Derivative Probe
May 3, 2009 (LBO) – Sri Lanka’s anti-bribery office is probing allegations that foreign trips were given to key officials to sweeten the sale of oil derivatives by international banks to a state-run oil firm which later went against it, a media report said. The exotic oil derivatives were sold to CPC by Standard Chartered, […]
Sri Lanka IMF loan would not be delayed on politics: central bank
May 2, 2009 (LBO) – Technical levels discussions for Sri Lanka’s International Monetary Fund (IMF) loan have now been finalized and with the UN Security Council also not standing in the way, there would be no further delays, a senior central banker said. Media reports indicated the United States, which has substantial say in IMF […]
Sri Lanka journalist detention highlighted by Obama
May 02, 2009 (LBO) – US President Barack Obama said he was concerned about threats against the media the world over, and mentioned the plight of Sri Lankan journalist J S Tissainayagam who has been detained for over a year.“In every corner of the globe, there are journalists in jail or being actively harassed: from […]
Sri Lankan insurer Ceylinco cleans up balance sheet
Apr 29, 2009 (LBO) – Sri Lanka’s Ceylinco Insurance Company has reported profits of 486.7 million for 2008, down 52.0 percent as the firm cleaned up its balance sheet by writing off more than 300 million rupees injected to related companies. Ceylinco Insurance revenues climbed 21 percent to 20.0 billion rupees and the firm paid […]
Sri Lanka rejects satellite evidence of civilian bombings
May 2, 2009 (AFP) – Sri Lanka’s defence ministry on Saturday rejected satellite imagery issued by the United Nations in support of allegations that security forces shelled a civilian area. The defence ministry said the allegations based on UN aerial images posted on the UNOSAT website and used on several foreign television channels had “no […]
Turntable
May 02, 2009 (LBO) – Sri Lanka’s state-run railway needs to charge higher fares and compete with road transport on a level playing field in order to avoid losses, its general manager Lalithasiri Gunaruwan said.He said he was trying to turnaround Sri Lanka Railways through changes in fares and better management. The department has recommended […]
Sri Lanka troops tighten siege of Tamil rebels
May 1, 2009 (AFP) – Sri Lankan government troops have tightened their siege of the last strip of land on the island still controlled by Tamil Tiger rebels and are poised for a final assault, the military said Friday.Military spokesman Brigadier Udaya Nanayakkara told AFP that two columns of troops had consolidated positions along a […]
Sri Lanka Union Assurance March profit up 24-pct
May 01, 2009 (LBO) – Sri Lanka’s Union Assurance said group net profit for the March quarter went up 24 percent to 51 million rupees from a year ago. Revenues for the three months ending March 31, 2009 rose 16 percent to 1.5 billion rupees, the company said in a stock exchange filing. Gross written […]
Monetary Deception
May 01, 2009 (LBO) – In its most recent report on the world economy, the International Monetary Fund (IMF) has compared the ‘Great Depression’ and the current crisis but conveniently ignores the core cause, which is central bank rate manipulation. Predictably, blame is also heaped upon the gold standard for not allowing money to be […]