Author: lbostgadmin
Maritime Draw
April 23, 2009 (LBO) – Sri Lanka’s ship registry, which governments have long promoted with little success, will get six brand new vessels belonging to a group with German interests with close links to the island, starting this year. Two of the ships, multi-purpose vessels being built by a Dutch yard, are owned by Mercantile […]
Sri Lankan stocks gain on bullish sentiment
April 23, 2009 (LBO) – Sri Lanka stocks rose across the board Thursday on mostly retail buying, with the main index up 1.82 percent, spurred by rate cuts but the rupee weakened below 120 against the dollar in the spot markets, dealers said. The rupee weakened to be quoted as low as 120.65/90 before recovering […]
Sri Lanka converts state dollar loans to bonds
April 23, 2009 (LBO) – Sri Lanka has converted hundreds of millions of dollar denominated loans from state banks in a move that will improve the transparency of government debt and make them marketable, an official said. The bonds could now be offered to any investor when they are rolled over increasing access and state […]
Sri Lanka rupee dips below 120.0 to the dollar
April 23, 2009 (LBO) – The Sri Lanka rupee weakened below the psychological 120.00 level against the US dollar in spot trade to 120.80 before recovering, as the local currency continued float freely, dealers said. The rupee fall come amidst a collapse in import volumes and an unprecedented contraction in the trade deficit. The rupee […]
Top Tamil Tigers surrender as Sri Lankan troops advance
April 22, 2009 (AFP) – Two key Tamil Tiger officials surrendered Wednesday as Sri Lankan troops pressed a final offensive against the rebels despite an international outcry over the fate of trapped civilians.Among the top rebels who turned themselves in was the Tigers’ main mouthpiece to the outside world, their chief spokesman Velayudam Dayanidi, better […]
Tamil protest jams Canadian capital
OTTAWA, April 21, 2009 (AFP) – Up to 30,000 Tamil protestors stepped up pressure on the Canadian government on Tuesday, clogging the capital for a 15th day in a row to demand it try to broker a ceasefire in Sri Lanka.Screaming “no more genocide,” beating drums heard throughout downtown, waving fists in the air and […]
Fears grow for civilians in Sri Lanka conflict zone
April 22, 2009 (AFP) – US and Red Cross officials pleaded for the lives of tens of thousands of civilians trapped in Sri Lankan jungle Wednesday as government troops pressed a relentless offensive against Tiger rebels.The apparent end game in Sri Lanka has triggered protests around the world, with up to 30,000 Tamil demonstrators clogging […]
82,000 civilians flee Sri Lanka war zone: minister
April 22, 2009 (AFP) – Nearly 82,000 civilians have escaped from the shrinking patch of territory still controlled by the Tamil Tiger rebels, defence spokesman Keheliya Rambukwella said Wednesday.He said 81,420 men, women and children were counted as they registered with security forces since fleeing the remaining rebel-held coastal jungle area Monday and Tuesday.He did […]
Sri Lanka rules out amnesty for cornered Tiger leader
April 22, 2009 (AFP) – Sri Lanka’s cornered Tamil Tiger leader Velupillai Prabhakaran will not be eligible for amnesty, having “spurned” an offer to surrender, the island’s president said.President Mahinda Rajapakse said the guerrilla leader, whose Liberation Tigers of Tamil Eelam (LTTE) are fighting to prevent complete defeat after being pushed to a narrow stretch […]
Policy Breaks
April 22, 2009 (LBO) – Colombo Dockyard stands to benefit from several concessions being considered in the new draft Sri Lankan government shipping policy, industry officials said.“In the absence of any other local builder capable of meeting local demand, removing such a ceiling will be considered by government as otherwise it would only open the […]
Sri Lankan stocks propelled by more gains in war
Apr 22, 2009 (LBO) – Sri Lankan shares extended gains Wednesday as the military rescued more civilians trapped in a no-fire-zone in an offensive to crush the 25-year-old Tamil Tiger separatist rebellion, brokers said. The All Share Price Index of the Colombo stock exchange rose 1.35 percent (23.64 points) to end at 1,777.58 while the […]
Sri Lanka cuts rates by 175bp to boost lending
April 22, 2009 (LBO) – Sri Lanka’s central bank has cut its de facto signal policy rate by 175 basis points to 13.0 percent to spur lending as credit to the private sector fell 5.6 percent in February, and trimmed the repo rate to discourage excess reserves. The rate cuts come as the rupee is […]