Author: lbostgadmin
Sri Lanka UN says staff forcibly recruited by Tigers
March 16, 2009 (AFP) – The United Nations said Monday one of its employees and his teenage daughter had been forcibly recruited by Tamil Tiger rebels to battle advancing government forces in Sri Lanka. The UN office in Colombo said it feared for the safety of the local employee and three of his family members […]
Sri Lanka rupee overvaluation seen hurting tea exports
March 16, 2009 (LBO) – An artificially strong rupee could further hurt exports of Sri Lankan tea to key markets whose currencies have been devalued in recent months, a brokerage has warned.Asia Siyaka Commodities said Colombo auction tea prices would remain firm in the first quarter, with a probable dip in the second, and pick […]
Managed Finance
Mar 16, 2009 (LBO) – Sri Lanka’s The Finance Company, a member of the troubled Ceylinco group, will be run by a former senior state bank executive who has been appointed as ‘managing agent’, officials said. Central Bank Governor Nivard Cabraal said Guy de Silva, a former deputy general manager of state-run Bank of Ceylon, […]
Default Window
Mar 16, 2009 (LBO) – Defaulters in Sri Lanka whose leased assets have been seized by financial institutions will be given a one month window to pay a quarter of their outstanding debt and get back assets without penalties, officials said.When the Central Bank presented to the cabinet of ministers a bailout package to stabilize […]
Sri Lanka Seylan Merchant Leasing draws investors in thin trade
March 16, 2009 (LBO) – Sri Lankan shares ended slightly weaker Monday, dragged down by heavyweights, in thin trade with investors chasing Seylan Merchant Leasing which is to be bought by the island’s largest leasing firm, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Sri Lanka senior players want better security
March 15, 2009 (AFP) – Sri Lanka’s new cricket captain Kumar Sangakkara and star spinner Muttiah Muralitharan say they want security guarantees on future tours after their team survived an attack in Pakistan.The Sri Lankan team bus was ambushed by armed militants in Lahore on March 3 as it drove towards the Gaddafi stadium during […]
Sri Lanka troops kill another 32 rebels: military
March 15, 2009 (AFP) – Government forces shot dead at least 32 Tamil Tiger rebels in north-eastern Sri Lanka, the defence ministry said on Sunday, as troops moved closer to finally defeating the separatist guerrillas.About 30 rebels were killed on Friday in the Puthukkudiriruppu area, the last stronghold of the Tigers, while another two were […]
Maldives leader vows to make country carbon neutral
LONDON, March 14, 2009 (AFP) – The Maldives will become the world’s first carbon neutral country by fully switching to the use of renewable energy within a decade, President Mohamed Nasheed said in an article to be published Sunday.“People often tell me caring for the environment is too difficult, too expensive or too much bother.I […]
Scandalous Truth
Mar 15, 2009 (LBO) – India’s Satyam collapsed due to the company pouring millions of dollars into undisclosed real estate assets that delivered inflated profits, but crashed soon after the property bubble burst, a visiting financial expert said. On January 09, 2009, the Bombay stocks plunged more than seven percent when Ramalinga Raju, chairman of […]
” deaths
WASHINGTON, March 13, 2009 (AFP) – US Secretary of State Hillary Clinton called Sri Lankan President Mahinda Rajapaksa on Friday to express her “deep concern” over mounting deaths in a government safe zone, a US official said.With the exception of the International Committee of the Red Cross, aid agencies face many restrictions in their efforts […]
UN charges of civilian killings unsubstantiated: Sri Lanka minister
March 14, 2009 (AFP) – Charges by the United Nations that 2,800 civilians had been killed in Sri Lanka in recent weeks were “unsubstantiated,” Human Rights Minister Mahinda Samarasinghe said on Saturday.The minister denied that government forces were firing into a demarcated “safe zone” for civilians and accused UN human rights chief Navi Pillay of […]
Credit Watch
Mar 14, 2009 (LBO) – Fitch Ratings has put the ‘BBB-(lka)’ rating of Sri Lanka’s People’s Merchant Bank (PMB) on a negative watch after the firm said it was taking over an unlisted financial firm whose financial profile was uncertain, the rating agency said.PMB, a listed firm which is 39 percent owned by Sri Lanka’s […]