Author: lbostgadmin
‘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 […]
Sri Lanka troops, Tamil Tigers in fierce naval battle
January 20, 2009 (AFP) – Sri Lanka’s navy Tuesday destroyed four Tamil Tiger boats and killed 16 guerrillas trying to escape as government soldiers close in on the rebels’ last base in the northeast, the military said.Officials said the pre-dawn naval battle erupted in waters off Mullaittivu, a jungle and lagoon area and the last […]
Sri Lanka small investors push up stock prices
Jan 20, 2009 (LBO) – Sri Lankan small investors pushed up share prices again Tuesday, fired by military gains against Tamil Tiger rebels and lower interest rates but lack of fund buying meant the upswing might not last, brokers said. “Last week, when the central bank announced the rate cut, the very next day the […]
Sri Lanka would not apply for IMF bailout: Central Bank
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it would not apply for an International Monetary Fund (IMF) bailout or devalue the currency but would seek other means to shore up the island’s dwindling foreign reserves. A typical IMF package involves a clean float of the currency to stop further sterilized intervention and […]
Hedge Exposure
Jan 19, 2008 (LBO) – Sri Lanka’s Commercial Bank said its exposure to an oil derivative sold through People’s Bank would be 21.6 million dollars with oil at 35 dollars a barrel, which the state-run bank has so far not honoured. The contract is one of several arranged for state-run Ceylon Petroleum Corporation (CPC) by […]
Jayawardene plays down Mendis hype in Pakistan series
KARACHI, January 18, 2009 (AFP) – Sri Lankan skipper Mahela Jayawardene Sunday refused to single out spin sensation Ajantha Mendis as the major threat for Pakistan in the one-day series.The 23-year-old Mendis and his more illustrious partner Muttiah Muralitharan are tipped to hold the aces against the home team in the three-match series which starts […]
Sri Lanka cricket feels squeeze as sponsors take flight
January 19, 2009 (AFP) – Sri Lanka’s economic slowdown has taken its toll on the island’s hugely popular sport of cricket as long-term sponsor disappear, sports minister Gamini Lokuge said on Monday.During the three-month trial that ends on March 31, Sri Lanka will play two Tests and three one-day internationals in Pakistan and host India […]
‘s most wanted Tiger running out of options
January 19, 2009 (AFP) – Sri Lanka’s top Tamil Tiger, who inspired hundreds of followers to stage suicide bombings in the fight for a separate state, is facing his biggest challenge yet and is fast running out of options. To his followers, Velupillai Prabhakaran is seen as a “Sun God” who formed a formidable and […]
Sri Lanka troops find plane wreckage
January 19, 2009 (AFP) – Sri Lankan troops have found the wreckage of an aircraft near an air strip captured from Tamil Tiger rebels in the north of the island, military officials said on Monday.The wreckage was found on Sunday in the jungles around Mullaittivu, the last stronghold of the Liberation Tigers of Tamil Eelam […]
Cairn India gets nod for new Indian field
Jan 19, 2009 (LBO) – Cairn India, which has won a license to explore for oil off Sri Lanka’s west coast, said it got Indian government approval to go ahead with the development of an oil field in north-west India. The company said it holds material exploration and production positions in west India and east […]
Travel Ban
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it had won a court order impounding the passports of several officials of Okanda Finance Limited, an unlicensed finance company, to prevent them leaving the country. A bank statement said four of six organisations and individuals carrying on finance business without authority had failed to […]