Author: lbostgadmin
Sri Lanka Treasuries yields extend fall
Jan 28, 2009 (LBO) – Sri Lanka’s Treasury bill yields extended falls with the popular 3-month yield falling 24 basis points to 15.94 percent and the 12-month yield falling 0.04 basis points to 17.56 percent, the government’s debt office said. Meanwhile in the inter bank market the central bank had printed 20 billion rupees to […]
Hedge Deal
Jan 27, 2009 (LBO) – Sri Lanka’s Supreme Court Tuesday terminated proceedings in a case against oil hedges by the state-owned refiner, Ceylon Petroleum Corporation, with all interim orders that suspended payments to banks ceasing to be operative.The Supreme Court said it was terminating proceedings as the government did not comply with its orders to […]
Indian foreign minister to visit Sri Lanka as rebels retreat: report
NEW DELHI, January 27, 2009 (AFP) – India’s foreign minister was set to visit Sri Lanka Tuesday as the Tamil Tiger rebels struggled to defend their last remaining strongholds, the Press Trust of India reported.Pranab Mukherjee was expected to meet Sri Lankan President Mahinda Rajapakse to push for a lasting political solution to the long-running […]
Sri Lanka apparel firms mull investments in former war zone
Jan 27, 2009 (LBO) – Sri Lankan apparel exporters said they are considering expanding into the former war-zone in the island’s north and east from where Tamil Tigers have been driven out.Ajith Dias, chairman of the Joint Apparel Association Forum, an industry umbrella body, said the government is trying to encourage apparel companies to set […]
” draws EU concern
BRUSSELS, January 26, 2009 (AFP) – EU officials told Sri Lankan Foreign Minister Rohitha Bogollagama of their concern at the “humanitarian crisis” in the north of the country, especially “the rising civilian casualties in the conflict zone.” EU External Relations Commissioner Benita Ferrero-Waldner underlined that “international standards must be respected” and that unrestricted access be […]
Sri Lanka Tiger chief still in Sri Lanka: report
January 27, 2009 (AFP) – Sri Lanka’s elusive Tamil Tiger leader Velupillai Prabhakaran is still on the island and leading his fighters as they struggle to avoid total defeat, a news report said Tuesday. Prabhakaran, 54, is in the island’s northeastern district of Mullaittivu where his guerrillas are cornered by a massive military offensive, the […]
Sri Lanka army moves to take last coastal strip from Tigers
KUMALAMUNAI, January 27, 2009 (AFP) – Sri Lankan troops making rapid progress against Tamil Tiger fighters have nearly recaptured the only stretch of coastline still held by the rebels, a commander in the field said Tuesday.Soldiers backed by tanks and air cover were battling to establish full control over the 30-kilometre (18 mile) stretch of […]
Bonus Interest
Jan 27, 2009 (LBO) – Sri Lanka’s Central Bank said the government will pay a 20 percent bonus interest in rupees on the interest earned on foreign currency deposits in banks from February 1.“This aims to promote inflows of foreign remittances into Sri Lanka through the banking channels as well as to promote the general […]
Heavy Lift
Jan 27, 2009 (LBO) – Colombo port will start taking delivery of the first batch of new cargo handling equipment to replace aging cranes from May this year, Sri Lanka Ports Authority chairman Priyath Wickrama said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Two pier-side gantry […]
Sri Lanka stocks fall on profit taking
Jan 27, 2009 (LBO) – Sri Lankan share prices fell on profit taking Tuesday after a sharp rise the day before, but Commercial Bank gained on a court ruling that ended a freeze on oil hedge payments by the state oil refiner. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Sri Lanka court allows oil derivative payments
Jan 27, 2009 (LBO) – Sri Lanka’s Supreme Court has ended a freeze on payments by state-run Ceylon Petroleum Corporation to commercial banks on derivatives of nearly a million barrels of crude and refined products.In November 2008 Sri Lanka’s Supreme Court halted payments by CPC on oil derivatives struck with Citibank, Standard Chartered, Deutsche Bank, […]
‘s Murali set for record double in India series
DAMBULLA, January 26, 2009 (AFP) – Ace Sri Lankan spinner Muttiah Muralitharan is poised to complete a record bowling double during the one-day series against India starting on Wednesday. The off-spinner is just three wickets short of surpassing former Pakistani paceman Wasim Akram’s world record of 502 one-day scalps, having grabbed 500 in 324 matches […]