Author: lbostgadmin
Sri Lanka Kelani Valley profit down
Feb 21, 2009 (LBO) – Sri Lanka’s Kelani Valley Plantations said net profit fell 33.5 percent to 276 million rupees in the 2008 financial year mainly owing to the collapse of tea and rubber prices in the final quarter.Sales grew 10 percent to 3,109 million rupees in the year ending December 31, 2008, the company, […]
Sri Lanka, developing countries, face more challenges and poverty from downturn: economists
Feb 20, 2009 (LBO) – While developed countries are facing economic contraction, developing nations are facing increases of absolute poverty, with some countries like Sri Lanka having little fiscal room to maneuver, economists have said. A global economic crunch from a collapsing housing, financial and commodity bubble was slowing ‘economic growth’ worldwide, with world growth […]
Sri Lanka troops capture Tiger diving gear: military
February 20, 2009 (AFP) – Security forces captured diving equipment and underwater “scooters” used by suicide bombers after heavy fighting with Tamil Tiger rebels in the island’s northeast, the defence ministry said on Friday.Troops seized the equipment after five hours of fighting at the village of Ampalavanpokkanai on Thursday, the ministry said in a statement. […]
Sri Lanka troops capture another Tiger village: military
February 20, 2009 (AFP) – Sri Lankan security forces seized another village from Tamil Tiger rebels, the government said Friday, as international concern mounted about the plight of civilians caught in the shrinking war zone.Government forces established control over the village of Ampalavanpokkanai in the district of Mullaittivu on Thursday afternoon following heavy fighting, the […]
Sri Lanka capital blacked out against Tiger air intruders
Feb 21, 2009 (LBO) – Sri Lanka’s capital Colombo was blacked out Friday night and air defences were activated against a possible attack by Tamil Tiger guerrilla aircraft, residents and officials said. Searchlights were activated in the capital, and motorists were told to douse their lights by policemen, shortly after 9.00 pm local time, residents […]
Sri Lanka air defences down Tiger aircraft
Feb 20, 2009 (LBO) – Sri Lanka has downed a Tamil Tiger light aircraft near an air base and an international airport north of Colombo following a raid where another aircraft attacked the headquarters of the island’s revenue office, the military said. Colombo was blacked out shortly after 9.00 pm Friday after the military detected […]
Finance Support
Feb 20, 2009 (LBO) – Sri Lanka’s government is offering four billion rupees in bonds and guarantees to improve liquidity in registered finance and leasing companies facing liquidity problems, central bank governor Nivard Cabraal said.A liquidity ratio of 15 percent required to be maintained against fixed deposits would be cut to 10 percent and a […]
Sri Lanka stocks enlivened by JKH deals
Feb 20, 2009 (LBO) – Sri Lankan market was boosted Friday with conglomerate John Keells Holdings increasing control of Union Assurance, Ceylon Cold Stores and brokerage John Keells Ltd. by buying stakes held by Carson Cumberbatch, brokers said. A crossing of 4.36 million CCS shares was done at 115 rupees. CCS was up three rupees […]
Sri Lanka official reserves US$1.7 billion in December
Feb 19, 2009 (LBO) – Sri Lanka’s foreign reserves fell to 1,753 million US dollars in December from 2,030 million US dollars in November which was enough to finance 1.5 months of imports, the Central Bank said. Gross official reserves with Asian Clearing Union (ACU) funds was 2,561 million US dollars which was enough to […]
Top UN official to visit restive Sri Lanka
UNITED NATIONS, February 18, 2009 (AFP) – UN humanitarian chief John Holmes is to pay a three-day visit to strife-torn Sri Lanka later this week to review the humanitarian situation, the world body said Wednesday. During his previous visit to Sri Lanka in August 2007, Holmes described the island as one of the world’s most […]
Sri Lanka ex-warlord says Tamils want development, warns of continued guerrilla strife: interview
February 19, 2009 (AFP) – Sri Lankan troops face another 18 months of fighting even after they have all Tamil Tiger territory under their control, a former rebel has warned.The man known as “Colonel Karuna,” who led an unprecedented split in the movement in 2004, says the Tigers will revert to guerrilla warfare after they […]
UN envoy in Sri Lanka expresses fears for civilians
February 19, 2009 (AFP) – The United Nations humanitarian chief John Holmes held talks with leaders in Sri Lanka on Thursday and said he was gravely concerned for thousands of civilians trapped in the island’s war zone. Holmes met Foreign Minister Rohitha Bogollagama after the Tamil Tiger rebels suffered a series of defeats that have […]