Category:
Maldives bans reef shark hunting
Mar 05, 2009 (LBO) – The Indian Ocean atoll nation of Maldives said it had banned shark hunting close to shore and a complete ban on shark products exports was on the cards to shore up depleting numbers. The Maldives attracts 600,000 tourists per year and the sector accounts for 28 percent of gross domestic […]
Sri Lanka offers new safe exit for trapped civilians
March 5, 2009 (AFP) – Sri Lanka Thursday offered a new safe passage for thousands of civilians trapped in the island’s war zone as fresh fighting erupted, leaving at least 33 rebels dead, the defence ministry said.A pitched battle raged in the village of Chalai on Thursday, a day after a local Red Cross employee […]
Red Cross worker killed in Sri Lanka war zone
March 5, 2009 (AFP) – A local Red Cross employee was killed in Sri Lanka’s war zone, where troops have cornered Tamil Tiger rebels, an official said on Thursday. “One of our male workers was killed on Wednesday afternoon by shrapnel,” of the International Committee of the Red Cross (ICRC) spokeswoman Sarasi Wijeratne said. Wijeratne […]
Sri Lanka players recover in hospital after Pakistan attack
March 5, 2009 (AFP) – Two Sri Lankan cricketers injured during a gun and grenade attack in Pakistan have undergone surgery and are recovering in hospital, a doctor said on Thursday. Tharanga Paranavitana who had a bullet lodged in his chest and Thilan Samaraweera, who had shrapnel in his right leg, underwent surgery at a […]
Aussie umpire slams security for terror attack
SYDNEY, March 5, 2009 (AFP) – Australian cricket umpire Steve Davis slammed Pakistan on Thursday for failing to protect him and other officials who came under fire during the attack earlier this week on Sri Lanka’s cricket team.“The driver’s foot was lodged on the accelerator and it was revving at a million miles an hour,” […]
Sri Lanka says foreign investment US889mn in 2008
Mar 05, 2009 (LBO) – Sri Lanka had received 889,9 million US dollars of foreign direct investments in 2008 which includes a 136.72 million US dollar loan, the island’s investment promotion agency said. The Board of investment said the investments in ventures approved by it were up 21 percent from the US dollars 734 million […]
Sri Lanka negotiating US$1900mn facility from IMF: Central Bank
March 04, 2009 (LBO) – Sri Lanka has asked for a 1,900 million US dollar balance of payments support facility from the International Monetary Fund (IMF), and the first tranche was expected later this month, the central bank said. Sri Lanka also got support from the IMF after the Indian Ocean tsunami hit the country […]
Sri Lanka is at medium risk from global fall out: IMF
Mar 04, 2009 (LBO) – Sri Lanka is among low income countries (LICs) at “medium” risk from global economic turmoil, and some nations were at “high” risk needing foreign aid as commercial markets dry up, the International Monetary Fund (IMF) has said. Direct financial transmission of the crisis was spreading to countries like Ghana and […]
Sri Lankan beer company profits down
Mar 04, 2009 (LBO) – Sri Lanka’s Lion Breweries December quarter profits have taken a hit from increased finance costs on loans taken to raise fresh capital and secure their 22.5 percent stake in Indian brewer, South Asian Breweries (SAB), analysts said. However, when a preference dividend of 32.8 million rupees is deducted, Lion Breweries […]
Sri Lankan shares close down
Mar 04, 2009 (LBO) – Sri Lankan blue chips once again took a beating on Wednesday as investors continued to stay away from the market owing to jitters over poor company earnings and liquidity shortages, broker said. The All Share Price Index lost 0.10 percent (1.62 points) to end at 1,637.85 while the more liquid […]
Long Voyage
March 04, 2009 (LBO) – Sri Lanka’s Hemas Holdings has got two seats on the board of directors of Mercantile Shipping Company, a ship owner and operator in which it acquired a stake last year.Hemas group director Imtiaz Esufally and Irshad Mushin, director – maritime transportation of Hemas group, have been appointed non-executive directors of […]
Broken Axle
March 04, 2009 (LBO) – Sri Lanka’s once prosperous motor industry has seen a sharp fall in sales, hit by shrinking credit, a fast depreciating rupee and import restrictions, a senior official of the Ceylon Motor Traders Association (CMTA) said. Revenues for the December quarter had plummeted by 17 percent or 384 million rupees, to […]