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Sri Lanka November inflation falls to 16.3-pct
Nov 28, 2008 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo fell to 16.3 percent in November from 20.2 percent in October, while prices fell by an absolute 0.7 percent in the 28 days of the month, the government’s statistics office said. The moving average of the index, which is smoothed over two years […]
Floods drive 231,000 from their homes in Sri Lanka
November 27, 2008 (AFP) – At least two government soldiers drowned and more than 230,000 civilians were driven from their homes in Sri Lanka’s embattled north Thursday after monsoon floods and a mini-cyclone, officials said.The Disaster Management centre said the northern peninsula of Jaffna was the worst hit, with 2,032 homes completely destroyed and another […]
Sri Lanka should be prepared for a prolonged external slowdown: interview
Nov 27, 2008 (LBO) – Sri Lanka should be prepared for a prolonged external slowdown as the world recovers from excessive debt brought on by paper money central banks, especially the Federal Reserve, says a Netherlands-based economist. Howard Nicholas from the Institute of Social Studies in the Netherlands spoke to LBO during a visit to […]
Sri Lanka shares rise, gains seen short-lived
Nov 27, 2008 (LBO) – Sri Lankan share prices rose Thursday, breaking a long slide but brokers said the gains could be short-lived given the negative investor sentiment, poor company earnings outlook as well as rupee devaluation fears. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Indian commandos battle Islamist gunmen, over 100 dead
MUMBAI, November 27, 2008 (AFP) – Indian army commandos were Thursday battling Islamist gunmen who launched coordinated attacks against luxury hotels and other targets in Mumbai, taking foreign hostages and killing over 100 people.One of the gunmen holed up in the Oberoi/Trident told the India TV channel by phone that they wanted an end to […]
100 killed, foreigners taken hostage in Mumbai attacks
MUMBAI, November 27, 2008 (AFP) – Army commandos laid siege Thursday to two luxury hotels in Mumbai where gunmen held foreign guests hostage as part of coordinated attacks across India’s financial capital that left up to 100 dead. A group calling itself the “Deccan Mujahedeen” claimed responsibility for the attacks late Wednesday night on the […]
‘s stock markets shut due to attacks
MUMBAI, November 27, 2008 (AFP) – India’s stocks and commodity exchanges will be closed on Thursday due to the coordinated attacks by gunmen across India’s commercial capital Mumbai, a spokesman said. “Considering the prevailing abnormal situation and the government’s advice” for people to remain indoors, “it has been decided to keep the markets closed for […]
White House offers help to India after attacks
WASHINGTON, November 27, 2008 (AFP) – The White House on Wednesday held a meeting of top intelligence and counter-terrorism officials after the deadly attacks in Mumbai and said it stood ready to help the Indian government. “This afternoon, the White House National Security Council convened officials from counterterrorism and intelligence agencies as well as the […]
Sri Lanka Tiger leader appeals for Indian Tamil support
Nov 27, 2008 (LBO) – Sri Lankan Tamil Tiger leader Velupillai Prabhakaran has sought the sympathy of Tamils in south India in an apparent effort to get a ceasefire with Indian intervention and ward off an army onslaught on his stronghold. In his annual ‘Heroes’ Day’ speech to commemorate rebel war dead, Prabhakaran acknowledged his […]
Hedge Probe
Nov 27, 2008 (LBO) – A team of Sri Lankan ministers is probing an oil hedge that could lose hundreds of millions of dollars to a state-run oil retailer amidst claims that the oil retailer had not informed the cabinet clearly about risks of derivatives trading. To receive instant alerts from LBO on your Dialog […]
Sri Lanka shares slide, trading thin
Nov 26, 2008 (LBO) – The slide in Sri Lankan stocks picked up momentum slightly Wednesday, although volumes remained thin with the indices dragged down by losses in high value shares, brokers said. The market has also been affected by lower corporate profitability which is seen continuing given the current economic downturn. Fears of currency […]
James Bond
Nov 26, 2008 (LBO) – An Aston Martin car, believed to be one of few such vehicles in Sri Lanka has been seized following action filed by HSBC Bank, lawyers said. Sri Lanka’s banking sector has seen a spike in non-performing loans, after interest rates rose. The car had been seized Wednesday under an order […]