Author: lbostgadmin
Sri Lanka expects big coconut crop after heavy rains
Jan 05, 2009 (LBO) – Heavy rains in Sri Lanka last year should ensure an adequate coconut crop for 2009 that would be enough to meet the demands of both domestic consumers as well as export industry, a senior official said.“In the market at present more than 50-75 million nuts remain unsold.There are excess nuts.” […]
Sri Lanka shares weaken despite military gains
Jan 05, 2009 (LBO) – Sri Lankan shares shed early gains to end 1.11 percent weaker Monday despite more military successes against Tamil Tiger rebels, with brokers saying the market is likely to remain quiet until investment funds return.The army made more gains Monday, seizing another town held by the rebels as they pushed deeper […]
Sri Lanka to review forex curbs in April: Central Bank
Jan 05, 2009 (LBO) – Sri Lanka would review restrictions imposed on foreign exchange use in April 2009, the central bank said as the rupee continued to weaken against the greenback on liquidity injections made by the monetary authority. The central bank tightened limits on overnight trading positions of commercial banks, imposed penal interest rates […]
Sri Lanka rupee quoted at 114.05/25 against greenback
Jan 05, 2009 (LBO) – The Sri Lanka rupee was quoted at a low of 114.05/25 against the greenback in intra-day trading Monday before recovering on dollar sales by a state bank that usually represents the Central Bank, dealers said.Banks parked 12.8 billion rupees at the central bank through an open market auction at an […]
Sri Lanka cautioned by Japan on military breakthrough
TOKYO, January 5, 2009 (AFP) – Japan, Sri Lanka’s top donor, was cautious Monday after the Tamil Tiger rebels’ capital fell, with an official saying that only a political solution could resolve the island’s ethnic war. Sri Lankan President Mahinda Rajapakse, part of the Sinhalese majority, vowed in a New Year’s address to crush the […]
Sri Lanka troops may face tough jungle battles ahead: analysts
January 4, 2009 (AFP) – Sri Lankans celebrated the fall of the Tamil Tigers’ de facto capital with street parties, but military observers say bloodier battles may still lie ahead as the rebels take refuge in the jungles.by Amal Jayasinghe “This is certainly not the end of the war,” Sithadthan said. “We can say this […]
Sri Lankan troops fighting towards Tiger HQ: govt
KILINOCHCHI, January 4, 2009 (AFP) – Sri Lanka said Sunday its troops were battling towards the jungle headquarters of the Tamil Tigers, two days after retaking their main city in a military assault that the government said would crush the guerrillas once and for all.Government soldiers consolidating their new positions in Kilinochchi, the former Tamil […]
Sri Lanka moves in on Tiger HQ, vows to take supremo
KILINOCHCHI, January 4, 2009 (AFP) – Sri Lanka’s army said Sunday it was moving in on the jungle stronghold of the Tamil Tiger rebels, in a final assault aimed at ending the longest-running ethnic war in Asia.Flush with confidence after retaking their main city two days ago, the army vowed to capture rebel leader Velupillai […]
Japan registers small tsunami waves after Indonesia quakes
TOKYO, January 4, 2009 (AFP) – Japan’s Pacific coast was lapped by minor tsunami waves Sunday after a string of powerful earthquakes off Indonesia, the country’s meteorological agency said.Waves up to 40 centimetres (1.3 feet) reached the Pacific coasts of islands from the Okinawan chain to the main island of Honshu, the agency said. The […]
Cell Rules
Jan 04, 2009 (LBO) – Sri Lanka will issue new rules covering financial transactions through mobile phones, Central Bank Governor Nivard Cabraal said, as the island’s fast growing celcos join banks to offer new payment methods. “Given the increased usage of mobile phones for financial transactions, the Central Bank intends to issue new operating guidelines […]
Sri Lanka govt mulls tax hike on milk powder imports
Jan 02, 2009 (LBO) – The Sri Lankan government is considering increasing customs duties on milk powder imports to take advantage of plunging global prices without raising domestic prices and raise revenue. World prices have plummeted by over 50 percent from a November 2007 high of 4,550 dollars a metric ton of milk powder. “The […]
US renews call for peaceful dialogue in Sri Lanka
WASHINGTON, January 2, 2009 (AFP) – The US State Department on Friday urged the Sri Lankan and Tamil Tigers to start negotiating over the “legitimate” demands of the Tamils after Colombo announced a key win over the rebels.Sri Lanka said Friday its troops had finally captured Kilinochchi, the unofficial capital of the Tigers, and urged […]