Author: lbostgadmin
Sri Lanka govt denies shelling that killed 16 patients
February 11, 2009 (AFP) – Sri Lanka’s military on Wednesday denied shelling a makeshift hospital where 16 patients were killed as concern mounted for the safety of non-combatants trapped in the island’s ethnic conflict.Military spokesman Brigadier Udaya Nanayakkara said security forces were not involved in the attack, which the International Committee of the Red Cross […]
Sri Lanka tourism outlook brightens as war ends
Feb 11, 2009 (LBO) – Sri Lanka’s long-suffering hotel industry faces better prospects as the ethnic war that has kept visitors at bay is almost at an end, while depressed valuations and investment needs may trigger take-overs, an equities researcher has said. Srimal Liyanage of Lanka Securities said he believes the hotels listed on the […]
Sri Lanka lures East Europeans
Feb 11, 2009 (LBO) – Sri Lanka’s national airline has teamed up with the tourism authorities and trade to lure visitors from what is seen as a lucrative market in Eastern Europe.Sri Lankan Airlines said in a statement a series of carefully targeted campaigns were done recently in Poland, Hungary and the Czech Republic targeting […]
Sri Lankan shares dip
Feb 11, 2009 (LBO) – Sri Lankan stocks had mixed fortunes on Wednesday as high value stocks like Bukit Darah and Carson Cumberbatch dragged the market down on low volume transactions while selected blue chips gained, brokers said. The All Share Price Index ended down 0.22 percent (3.95 points) at 1,761.93 while the more liquid […]
Sri Lanka fund manager to arbitrage risk anomaly
Feb 11, 2009 (LBO) – A fund management firm founded by senior Sri Lankan bankers say it can bridge the gap between low yielding bank deposits and risky high yield assets, by arbitraging an anomaly in the risk to reward structure in the island. Chief executive of Wealth Trust, Dhammika Ranawana, who counts years of […]
Sri Lanka treasuries yields ease after rate cut
Feb 11, 2009 (LBO) – Sri Lanka’s Treasuries yields fell less-than-expected across maturities following a 50 basis point cut in the island’s de facto policy discount rate, dealers said. Since Friday the market had already partially discounted the rates cuts, they said. The Central Bank cut the 17.0 percent unrestricted ‘penalty’ reverse repo rate, which […]
Sri Lanka ancient economy may have been hit by monetary debasement: economist
Feb 10, 2009 (LBO) – A period of prosperity based on international trade, under an ancient Sri Lankan king may have declined following monetary debasement, as well as a decline in external trade, a top economist in the island said.Central Bank deputy governor W A Wijewardene says, during the reign of king Parakramabahu the Great […]
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February 9, 2009 (AFP) – The BBC has suspended its FM programming to Sri Lanka’s national broadcaster because of what it claimed was “deliberate interference”, it said Monday. In a statement, the BBC said its programmes and news reports in English, Sinhala and Tamil had been blocked by the Sri Lanka Broadcasting Corporation (SLBC), and […]
Sri Lanka Union Assurance profits up
Feb 10, 2009 (LBO) – Sri Lanka’s Union Assurance said group net profit for the December quarter shot up 33 percent to 232 million rupees from a year ago with the bottom line buoyed by income from investments. Life insurance profits also increased by 28 percent to 185 million in 2008 from 144 million in […]
Sri Lanka civilians flee war zone despite suicide strike: govt
February 10, 2009 (AFP) – Thousands of Tamil civilians streamed out of Sri Lanka’s war zone on Tuesday despite a suicide bombing that killed 30 people at a centre for those escaping the fighting, a military official said.More than 6,500 Tamils crossed the frontlines in the northern Mullaittivu region on Monday, Brigadier Udaya Nanayakkara said, […]
Sri Lankan Tigers gun down civilians: military
February 10, 2009 (AFP) – Sri Lanka’s Tamil Tiger guerrillas on Tuesday shot dead 17 civilians and wounded nearly 70 others fleeing territory still under rebel control, military spokesman Udaya Nanayakkara said.Survivors of the attack who arrived at a military post told how Tiger fighters had fired on a group of 1,000 people trying to […]
Sri Lanka business chamber in anti-pollution campaign
Feb 10, 2009 (LBO) – A Sri Lankan business chamber said it plans to start an awareness programme to minimise pollution from agriculture and industry in the island’s provinces using selected enterprises as models for others.“Industrial pollution is causing lot of damage to the environment in urban and rural areas,” the Federation of Chambers of […]