Category:
Economic Lubricant
Feb 26, 2009 (LBO) – Sri Lanka’s cabinet of ministers has approved a bailout package for finance and leasing firms in a move to release assets seized from defaulting borrowers back into productive commercial use. “Equally, people who have bought lorries and lands will be able to once more use these assets for the purpose […]
Sri Lankan tea prices maintain upward trend
Feb 26, 2009 (LBO) – Sri Lankan tea prices rose again at this week’s Colombo auction, where volumes were lower than usual and are likely to fall further, brokers said. The main buyers from Russia and the Middle East were active in the market. Prices of teas from the estates of listed regional plantations companies […]
Sri Lanka says 11 rebels killed in battle
February 26, 2009 (AFP) – Sri Lankan troops have killed at least 11 Tamil Tiger rebels in the battle for the last urban area still in the hands of the guerrillas, the defence ministry said Thursday.The deaths occurred Wednesday when soldiers pushed toward Puthukkudiriruppu, a town on a narrow strip of land in the northeast […]
Sri Lankan Tamil editor arrested: police
February 26, 2009 (AFP) – A Tamil newspaper editor was arrested in Sri Lanka’s capital Thursday, police said, after colleagues and family members complained that he had been abducted while attending a funeral.Police spokesman Senior Superintendent Ranjith Gunasekara said N. Vidyatharan was taken in for questioning by the police crime division in connection with activities […]
Human rights on decline in Sri Lanka: US
WASHINGTON, February 25, 2009 (AFP) – Human rights are on the decline in Sri Lanka with the government and Tamil Tiger rebels both committing violations as the three-decade war intensifies, the US State Department said Wednesday. In an annual global report, the State Department also said that media freedom was deteriorating on the island with […]
Sri Lanka rupee falls to 114.80 in bizarre trade; Bill stock Rs184bn
Feb 25, 2009 (LBO) – The Sri Lanka rupee fell to a new low of 114.80 against the US dollar in value tomorrow trade with buying from a state bank, while spot dollars continued to be offered at 113.85 rupees also by a state bank, dealers said.Since September the Central Bank has lost more than […]
Sri Lanka Treasury bill yields flat
Feb 25, 2009 (LBO) – Yields of Treasury bills stayed flat across maturities at an auction Wednesday, the government’s debt office said while bonds spiked amid foreign selling earlier in the day. The government sold 1.8 billion rupees of 3-month bills at a weighted average yield of 15.76 percent, 527 million rupees of 6-month bills […]
Sri Lankan stocks tumble
Feb 25, 2009 (LBO) – Sri Lankan shares lost 1.19 percent Wednesday with the indices dragged down by losses in heavyweights like Dialog Telekom after it reported a big loss in the December quarter, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Loan Slowdown
Feb 25, 2009 (LBO) – Sri Lanka’s DFCC Bank said group net profit for the December 2008 quarter rose 25 percent to 638 million rupees from a year ago but that earnings growth was slowing because of reduced lending and capital gains.Total group income for the December quarter rose 23 percent to 3.5 billion rupees […]
Sri Lankan Tamil war protester sets himself ablaze
CHENNAI, February 25, 2009 (AFP) – A Sri Lankan Tamil committed suicide by setting himself on fire to protest civilian casualties in Colombo’s military offensive against the Tamil Tiger rebels, Indian police said Wednesday.The Sri Lankan army claims to have driven back the rebels into less than 75 square kilometres (28 square miles) of jungle […]
Sri Lanka re-opens land route to Jaffna
February 25, 2009 (AFP) – Sri Lankan troops has opened the main highway to the northern Jaffna peninsula for the first time in nearly two decades after wresting the route from rebel control, the military said Wednesday.Government troops operated a food convoy Tuesday along the A-9 highway that had been under rebel control since 1990, […]
First Pakistan-Sri Lanka Test ends in draw
KARACHI, February 25, 2009 (AFP) – The first Test between Pakistan and Sri Lanka ended in a draw after some late excitement when the tourists lost quick wickets briefly raising hopes of an unlikely result here on Wednesday.The tourists averted defeat after losing five wickets for just 120 runs, finishing the match with the score […]