Category:
Heavy Lift
Jan 27, 2009 (LBO) – Colombo port will start taking delivery of the first batch of new cargo handling equipment to replace aging cranes from May this year, Sri Lanka Ports Authority chairman Priyath Wickrama said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Two pier-side gantry […]
Bonus Interest
Jan 27, 2009 (LBO) – Sri Lanka’s Central Bank said the government will pay a 20 percent bonus interest in rupees on the interest earned on foreign currency deposits in banks from February 1.“This aims to promote inflows of foreign remittances into Sri Lanka through the banking channels as well as to promote the general […]
Sri Lanka army moves to take last coastal strip from Tigers
KUMALAMUNAI, January 27, 2009 (AFP) – Sri Lankan troops making rapid progress against Tamil Tiger fighters have nearly recaptured the only stretch of coastline still held by the rebels, a commander in the field said Tuesday.Soldiers backed by tanks and air cover were battling to establish full control over the 30-kilometre (18 mile) stretch of […]
Sri Lanka Tiger chief still in Sri Lanka: report
January 27, 2009 (AFP) – Sri Lanka’s elusive Tamil Tiger leader Velupillai Prabhakaran is still on the island and leading his fighters as they struggle to avoid total defeat, a news report said Tuesday. Prabhakaran, 54, is in the island’s northeastern district of Mullaittivu where his guerrillas are cornered by a massive military offensive, the […]
” draws EU concern
BRUSSELS, January 26, 2009 (AFP) – EU officials told Sri Lankan Foreign Minister Rohitha Bogollagama of their concern at the “humanitarian crisis” in the north of the country, especially “the rising civilian casualties in the conflict zone.” EU External Relations Commissioner Benita Ferrero-Waldner underlined that “international standards must be respected” and that unrestricted access be […]
Sri Lanka apparel firms mull investments in former war zone
Jan 27, 2009 (LBO) – Sri Lankan apparel exporters said they are considering expanding into the former war-zone in the island’s north and east from where Tamil Tigers have been driven out.Ajith Dias, chairman of the Joint Apparel Association Forum, an industry umbrella body, said the government is trying to encourage apparel companies to set […]
Indian foreign minister to visit Sri Lanka as rebels retreat: report
NEW DELHI, January 27, 2009 (AFP) – India’s foreign minister was set to visit Sri Lanka Tuesday as the Tamil Tiger rebels struggled to defend their last remaining strongholds, the Press Trust of India reported.Pranab Mukherjee was expected to meet Sri Lankan President Mahinda Rajapakse to push for a lasting political solution to the long-running […]
Hedge Deal
Jan 27, 2009 (LBO) – Sri Lanka’s Supreme Court Tuesday terminated proceedings in a case against oil hedges by the state-owned refiner, Ceylon Petroleum Corporation, with all interim orders that suspended payments to banks ceasing to be operative.The Supreme Court said it was terminating proceedings as the government did not comply with its orders to […]
Sri Lanka stocks lifted by war victories, higher tea prices
Jan 26, 2009 (LBO) – Sri Lankan share prices rose 3.19 percent Monday as investor sentiment was buoyed by more military gains against Tamil Tiger rebels with the fall of a guerrilla stronghold and selective buying by funds.Investments funds and high-net-worth individual investors also appeared to be slowly returning to the market after staying away […]
Sri Lanka tourist arrivals from major markets fall sharply
Jan 26, 2009 (LBO) – Tourist arrivals into Sri Lanka last year fell sharply from its main markets of India and Britain whose currencies also depreciated significantly against the dollar. Tourist industry analysts said that the downturn in tourism could worsen this year because of the weaker currencies and economic slowdown in key visitor generating […]
Obama to let states set higher emissions standards: report
WASHINGTON, January 26, 2009 (AFP) – President Barack Obama on Monday is expected to issue new regulations allowing several US states to set tougher car emissions and fuel efficiency standards, the New York Times reported, citing administration officials.He also will direct the Department of Transportation to immediately begin drafting automobile fuel-economy regulations to comply with […]
Sri Lanka civilians killed, wounded in shelling: UN
January 26, 2009 (AFP) – The United Nations said Monday at least 30 civilians had been killed in fighting between government forces and rebels in Sri Lanka amid a drive to root out the last pockets of Tamil Tiger resistance.The UN spokesman in Colombo, Gordon Weiss, said at least 10 civilians were killed on Monday […]