Author: lbostgadmin
Sri Lanka govt says 46 Tigers killed in fresh fighting
March 29, 2009 (AFP) – Sri Lankan government troops killed at least 46 rebels during weekend battles in the northeast of the island where they have cornered the Tamil Tiger guerrillas, the defence ministry said Sunday.Verification of battlefield claims is almost impossible as the authorities do not allow independent journalists and international observers to travel […]
Number Crunching
Mar 29, 2009 (LBO)- Consciously or unconsciously, we use statistics in everything we do in our day to day life.When we say that it rained yesterday, we simply pronounce a fact we have observed as having happened.When we say that it is raining now, we again mention something that we have observed as happening. When […]
Sri Lanka Tigers killed one civilian fleeing fighting: army
March 28, 2009 (AFP) – Sri Lanka’s military on Saturday accused the Tamil Tiger rebels of firing at civilians fleeing fighting in the north of the country, killing one and injuring two.Amnesty said the Tigers were holding civilians hostage and were “reported to have deliberately attacked civilians that have tried to escape from areas under […]
Sri Lankan tea prices fall further
March 28, 2009 (LBO) – Sri Lankan tea prices fell again at this week’s auction as quality dropped with the end of the season and rains in planting districts indicated bigger crops in future, brokers said.“In the Large Leaf catalogues OP1s and OPs were the most affected and marked down by 20 to 30 rupees […]
Sri Lanka spends US$240mn in peg defence in Feb09
Mar 28, 2009 (LBO) – Sri Lanka has spent 240 million US dollars in February 2009 defending a dollar peg in an ill-fated exercise that has already drained two-thirds of the country’s foreign reserves, the latest official data shows.Sri Lanka’s gross official reserves, including fiscal balances, fell to 1,415 million US dollars in January from […]
Sri Lanka bailout talks progressing: IMF
Mar 27, 2009 (LBO) – An International Monetary Fund (IMF) mission in Sri Lanka is talking with the government on a stand-by arrangement and but the volume of financing the island requires is yet to be decided, an official said. “We don’t have any date as to the conclusion of those discussions or their likely […]
Sri Lanka Insurance Corp gets to renew petroleum cover
March 27, 2009 (LBO) – Sri Lanka Insurance Corporation (SLIC), part of the Distilleries group controlled by businessman Harry Jayawardena, has renewed its contract for insurance cover of a government fuel terminal for 120 million rupees.The facility consists of tank farms and pipelines to store and distribute petroleum product.The government said in a statement that […]
Sri Lankan Airlines to wet-lease aircraft to Mihin Air
March 27, 2009 (LBO) – Sri Lanka’s national carrier SriLankan Airlines will lease a short-haul aircraft to Mihin Air, a state-run budget carrier, at a below market rate, after extending the dry lease of one of its own aircraft, an official said. Mihin Air is now operating with a single aircraft after it was resurrected […]
Banking Abroad
March 27, 2009 (LBO) – Sri Lanka’s Commercial Bank has said it plans to expand its business in Bangladesh and is still considering setting up branches in other Asian countries despite obstacles.“Although it was the bank’s intention to establish a presence in the Far East, we have put these plans on hold in view of […]
Strategic Investor
March 27, 2009 (LBO) – Sri Lanka’s central bank has called for proposals from investors to invest 5.7 billion rupees (about 50 million US dollars) to take a 33 percent stake in Seylan Bank, part of the troubled Ceylinco group. Expressions of interest (EOI) have been invited from local or foreign parties interested in becoming […]
Sri Lanka shares end firmer
March 27, 2009 (LBO) – Sri Lankan shares ended firmer Friday with the indices pushed up by gains in John Keells Holdings, Distilleries and also Seylan Bank, in which a controlling stake was offered for sale by the central bank, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Sri Lanka rupee weakens in volatile trade
Mar 27, 2009 (LBO) – Sri Lanka rupee fell to 115.35/50 levels against the greenback in intra-day trading Friday with heavy buying from foreign banks while the monetary authority briefly took the foot off peg defence, dealers said. The rupee hit a low of 115.75 against the greenback when peg defence was eased amidst heavy […]