Author: lbostgadmin
” as Sri Lanka keeps up offensive
January 18, 2009 (AFP) – Sri Lanka’s Tamil Tigers are threatened with “extinction” following a massive military drive against them, but a political solution will be crucial to end long-standing Tamil grievances, observers say. The Tigers’ de facto state in the north of the island has been crumbling rapidly.They lost their political capital Kilinochchi earlier […]
Sri Lanka Tamil Tigers surrounded, rebel chief may have fled: army
January 18, 2009 (AFP) – Sri Lankan government troops have almost completely cornered the Tamil Tigers in their northeastern jungle base and the rebels’ leader may have already fled the island, the army chief said.The Sri Lankan army chief, who narrowly escaped assassination in a Tamil Tiger suicide bombing in April 2005, said he hoped […]
Sri Lanka gets new deputy finance minister
Jan 17, 2009 (LBO) – Sri Lankan president Mahinda Rajapaksa has appointed public administration and home affairs minister Sarath Amunugama as deputy minister of finance and planning, the president’s office said in a statement. Amunugama had been finance minister under previous administration and has also been a public servant before he took to politics. Amunugama […]
Sri Lanka civilians flee as fighting escalates: army
January 17, 2009 (AFP) – Some 170 people have fled rebel-controlled areas in northern Sri Lanka as fresh fighting erupted across several fronts, the military said Saturday. A massive assault by Sri Lankan troops has left the Tigers cornered in their military stronghold in the northeastern coastal district of Mullaittivu. Sri Lanka has poured a […]
Box Rates
Jan 17, 2009 (LBO) – A sharp fall in freight rates owing to the global recession and oversupply of tonnage is helping Sri Lankan exporters cope with slowing demand in overseas markets and high domestic costs, trade officials said.Randolph Perera, chairman of the Sri Lanka Shippers’ Council representing exporters and importers, said the drop in […]
Sri Lanka tourist sector get relief on tsunami recovery loan
Jan 16, 2008 (LBO) – Sri Lanka’s tsunami affected tourism sector is to get repayment extensions running up to three years for loans taken up under the ‘Susahana’ and Small Business Revival Program (SBRP) lending schemes, the Central Bank said. Under the relief program, those who took SBRP and Sushana tsunami loans would receive a […]
‘s Kulasekara, Mendis restrict Bangladesh
DHAKA, January 16, 2009 (AFP) – Nuwan Kulasekara and Ajantha Mendis grabbed three wickets apiece as Sri Lanka dismissed Bangladesh for 152 in the triangular one-day series final here on Friday. Fast bowler Kulasekara picked three of the first five wickets in a lively opening spell to send Bangladesh reeling at 54-5 in the 19th […]
Singapore Airlines cuts more than 200 flights
SINGAPORE, January 16, 2009 (AFP) – Singapore Airlines (SIA) is cutting more than 200 flights to Australia, China, Europe and India in response to falling passenger numbers, the company and travel agents said on Friday.Alicia Seah, a senior vice president at CTC Holidays travel agency, said many Singaporeans were opting for closer and cheaper holiday […]
Sri Lanka fighting forces tens of thousands flee: ICRC
January 16, 2009 (AFP) – Intense fighting in northern Sri Lanka has forced tens of thousands of homeless civilians to flee areas controlled by the encircled Tamil Tiger rebels, the Red Cross said Thursday.The International Committee of the Red Cross (ICRC) reported “massive displacement” of civilians — many of them having already been forced to […]
Port Performance
Jan 16, 2009 (LBO) – All Sri Lankan regional ports are loss-making and supported by earnings from Colombo harbour, Sri Lanka Ports Authority chairman Priyath Wickrema said.Sri Lankan ports are hugely overstaffed after successive governments stuffed them with supporters in order to win votes under the system of patronage politics practiced in the island. Ports […]
Sri Lankan stocks firmer, JKH up 30% this week
Jan 16, 2008 (LBO) – Sri Lanka’s John Keells Holdings (JKH) closed the week up almost 30 percent at 66 rupees Friday after a media report that one of its largest shareholder would not divest any further, analyst said. “The market is not expecting good results, it depends on how much the market has absorbed […]
Sri Lanka rates up as liquidity tightens; CB bill stock Rs151bn
Jan 16, 2008 (LBO) – Overnight money rates spiked in Sri Lanka’s inter bank market and bond rates picked up amid tighter liquidity and the monetary authority opened its 12.00 percent liquidity facility, dealers said. Market participants parked 7.7 billion rupees at the repo window of the central bank by Friday while borrowing 14.1 billion […]