Author: lbostgadmin
Sri Lanka apparel exporters say depreciation needed; bailout doubtful
Jan 21, 2009 (LBO) – Sri Lankan apparel exporters say a sharp depreciation of the rupee is needed, as demand falls in major markets and hurdles on a promised state bailout may limit its usefulness. The rupee has fallen to 113-114 against the dollar from around 108 last September. “If the rupee is around 118 […]
Sri Lanka apparel industry may lose 30-40,000 jobs
Jan 21, 2009 (LBO) – About 30-40,000 people employed in Sri Lanka’s apparel export industry may lose their jobs this year owing to a slow down in orders because of recession in key markets, a senior official said.Ajith Dias, chairman, Joint Apparel Association Forum, said the industry is also facing a brain drain with the […]
Sri Lanka blast kills two: police
January 21, 2009 (AFP) – At least two people were killed and 11 others were wounded in a roadside bomb attack in eastern Sri Lanka on Wednesday, police said.The bomb, planted on a bicycle, went off in Batticaloa, 300 kilometres (190 miles) east of Colombo, a local police official said. “A policeman and another civilian […]
Sri Lanka fires at intruding aircraft
January 21, 2009 (AFP) – Sri Lanka’s military said Wednesday its troops had opened fire on an intruding aircraft off the island’s north, where government forces are battling Tamil Tiger rebels.The unidentified aircraft was detected heading towards the island’s northeastern coast near Mullaittivu, the last town under the control of the Liberation Tigers of Tamil […]
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January 21, 2009 (AFP) – Sri Lanka’s military Wednesday asked civilians living in the last remaining rebel-held areas in the island’s northeast to move into a declared safe zone ahead of a major showdown.The army said in a statement that it had declared a “safe zone” for tens of thousands of civilians trapped in the […]
Sri Lanka stocks fall as small investor-led rally fizzles out
Jan 21, 2009 (LBO) – Sri Lankan share prices fell almost five percent Wednesday with small investors not having the holding power to sustain the minor rally they had fired in recent days, brokers said.Prices of most shares fell Wednesday including plantations which had drawn investor interest after tea prices at the Colombo auctions recovered. […]
Sri Lanka Treasury bill yields fall
Jan 21, 2009 (LBO) – Sri Lanka Treasury bill yields fell across maturities at Wednesday’s auction with the government raising 4.7 billion rupees, the government’s debt office, which is a unit of the central bank, said. The 3-month yield fell 61 basis points to 16.18 percent. The 6-month yield fell 33 basis points to 16.89 […]
Sri Lanka World Bank head says global crisis failure of government
Jan 20, 2009 (LBO) – The meltdown of the global economic system is not a collapse of capitalism and markets but rather a failure of government, World Bank’s Sri Lanka country director Naoko Ishii said.Ishii said the collapse of banks and falling prices of financial markets have been interpreted by some as a failure of […]
Sri Lanka among countries poorly prepared to face global crisis
Jan 20, 2009 (LBO) – Sri Lanka is among 25 percent of countries that are poorly equipped to deal with the global financial crisis, and needs fiscal as well as external adjustment to stabilize itself, a World Bank economist said. Claus Astrup, World Bank’s senior country economist in Sri Lanka said about 40 percent of […]
‘s best
KARACHI, January 20, 2009 (AFP) – Pacemen Rao Iftikhar took a career-best 4-42 to help Pakistan restrict Sri Lanka to 219 in the first day-night international at the National Stadium here Tuesday.The 28-year-old medium pacer removed top-scorer Kumar Sangakkara (49), skipper Mahela Jayawardene (one) and Thilan Thushara (nought) to derail the visitors who had a […]
‘s Kingfisher Airlines
Jan 20, 2009 (LBO) – In the wake of global airline bankruptcies and route cuts, India’s Kingfisher Airlines has expanded its international presence with flights to Sri Lanka, and plans for daily connections from Bangalore and Chennai to Colombo. “We have plans to expand quite considerably this year, and choose Colombo as it’s our nearest […]
Sri Lanka slammed by press body after murder, assaults
January 20, 2009 (AFP) – Sri Lanka’s inaction after a series of assaults and killings of journalists has left a “dark stain” on the government’s credibility, the International Press Institute warned Tuesday.The media rights group condemned the “culture of impunity and indifference” shown by the government after a senior editor was murdered and a privately […]