Category:
Refugee Crisis
TANJUNG PINANG, October 28, 2009 (AFP) – Seventy eight Sri Lankan asylum-seekers are refusing to disembark an Australian customs vessel anchored off Indonesia’s Bintan island, officials said Wednesday.The migrants were rescued by the Australian navy in Indonesian waters 11 days ago but were refusing to speak to Indonesian immigration officials, insisting they want to be […]
EU pressures Sri Lanka over human rights
LUXEMBOURG, October 27, 2009 (AFP) – The European Union boosted pressure on Sri Lanka Tuesday over human rights and called for those committing abuses on the island to be investigated. Sri Lanka has said it needs to screen the civilians for former fighters. The EU statement comes a week after the bloc threatened to withdraw […]
Sri Lanka central bank in massive liquidity mop up
Oct 28, 2009 (LBO) – Sri Lanka’s central bank is engaged in a record mop up of excess liquidity in the banking sector generated foreign from dollar borrowings, surpassing a previous high in 2007.Sri Lanka raised 500 million US dollars through a sovereign bond earlier this month. Inflows from an October 2007 sovereign bond pushed […]
Sri Lankan stocks close lower in broad sell-off
Oct 27, 2009 (LBO) – Sri Lanka stocks closed lower for a second day Tuesday, falling 0.9 percent in a broad sell-off that saw while buyers were awaiting earnings reports, brokers said.The All Share Index closed at 2,989.05 points down 34.9 points while the Milanka Index of more liquid stocks closed down 1.19 percent (21.7 […]
Busy Terminal
Oct 26, 2009 (LBO) – Sri Lanka’s South Asia Gateway Terminals (SAGT), a private operator in the port of Colombo says September volumes have increased 3.8 percent from a year earlier to 161,450 containers. This is the second highest monthly throughput ever recorded by SAGT, behind August 2009 where it hit a record of 163,024 […]
Rate Order
Oct 27, 2009 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has ordered a sweeping 700 basis point cut in state bank lending rates, lifting of penal rates and fast-tracking state worker loan applications, a government statement said.Officials had also discussed ways to relax security requirements of loans, the statement said. Banks were also ordered to […]
Buy Out
Oct 27, 2009 (LBO) – Ceylinco Land Exchange, a real estate firm in Sri Lanka’s troubled Ceylinco group, is striking out under a new name, while employees are negotiating to buy out the firm, officials said.The firm is now operating under the name of People’s Realty Limited. “The management is negotiating with relevant companies [to […]
Boat People
TANJUNG PINANG, October 27, 2009 (AFP) – An Indonesian provincial governor refused Tuesday to allow an Australian customs vessel to unload 78 Sri Lankan asylum-seekers, saying Indonesia is not a “dumping ground” for refugees.Opposition to the arrival of the migrants came as Australia stressed it was not trying to push asylum-seekers back onto Indonesia, the […]
‘s central bank holds interest rates
MUMBAI, October 27, 2009 (AFP) – India’s central bank kept key short-term interest rates unchanged at their record lows on Tuesday, saying its priority was helping a recovery take root while keeping an eye on inflation.The repo, the rate at which the central bank lends to commercial banks, remains at 4.75 percent, while the reverse […]
Sri Lanka govt may sign anti-landmine treaty
October 27, 2009 (AFP) – Sri Lanka may consider joining the global treaty banning landmines following the government’s defeat of separatist Tamil Tiger rebels, the army chief said on Tuesday. Sri Lanka had previously refused to sign up to the 1997 Ottawa Convention against landmines, arguing that the military could not unilaterally abandon mines in […]
Euro hits 14-month high vs dollar
TOKYO, October 26, 2009 (AFP) – The euro hit a 14-month high against the dollar in Asian trade Monday on signs that China may increase its holdings of the European currency, dealers said. The euro rose to 1.5061 dollars in Tokyo midday trade, its highest level since August 11, 2008 and up from 1.5027 in […]
Sri Lankan stocks fall 1.0-pct
Oct 26, 2009 (LBO) – Sri Lankan stocks closed down 1.0 percent Monday as buyers stayed in the sidelines, awaiting September quarter earnings season which has just begun, brokers said. The All Share Price Index closed down 1.07 percent (32.60 points) to end at 3,024.02, while the Milanka Index of more liquid stocks lost 1.01 […]