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Sri Lanka to resettle war refugees soon: official
NEW DELHI, June 24, 2009 (AFP) – A Sri Lankan official delegation visiting India said on Wednesday Colombo was working to resettle tens of thousands of civilians displaced by fighting on the island.The team said Sri Lanka was also working for the “democratisation” of the country’s north, where fierce fighting earlier this year led to […]
US to “carefully assess” Sri Lanka IMF loan: official
June 24, 2009 (LBO) – The United States is not blocking an International Monetary Fund (IMF) loan to Sri Lanka but the US Treasury and State Department “will carefully assess” the program, an official has said. “We are not threatening to block the loan and we will carefully assess any program in light of the […]
Sri Lankan stocks close flat
June 24, 2009 (LBO) – Sri Lankan shares closed flat Wednesday despite bank stocks losing ground on profit taking, brokers said. The benchmark Colombo All Share Price Index closed up 0.01 percent (0.23 points) to end at 2,439.94 while the Milanka index of liquid stocks fell 0.64 percent (17.39 points) to close at 2,716.29, according […]
Procedural Probe
June 24, 2009 (LBO) – Sri Lanka’s Nations Trust Bank, a unit of the John Keells Holdings group, is probing a breach of operating procedure, but the bank is on track to meet half year profit targets, an official said. NTB’s voting stock fell 2.25 to 32.00 rupees Wednesday amid concerns among investors that profits […]
Equity Control
June 24, 2009 (LBO) – There would be more interest in Sri Lanka’s Seylan Bank if a larger equity stake than one third is offered to a strategic investor, the head of cash-rich NDB Bank which dropped out of the race said. “The environment today is different,” says Wickramaratne. “Today we have a – relatively […]
Sri Lanka spruces up tourist attractions
June 24, 2009 (LBO) – Sri Lanka has launched an initiative to provide better access and facilities at tourist attractions in an effort to draw more visitors to the island, beginning to recover from 25 years of war. Tourism ministry secretary K A D George Michael said the government had allocated funds to improve basic […]
Medical Market
June 24, 2009 (LBO) – Sri Lanka’s Asiri Surgical Hospital has launched a round-the-clock emergency care service targeting expatriate Sri Lankans who have relatives in the island, an official said.Ashok Pathirage, managing director, Asiri group, said the service was aimed particularly at Sri Lankans living and working overseas who had to care for elderly parents […]
Sri Lanka hosts meet to thwart terrorist nuclear ambitions
June 24, 2009 (LBO) – Sri Lanka is hosting a South Asia workshop organised with the United States to prevent terrorist groups from acquiring nuclear weapons or trafficking in nuclear materials, the foreign ministry said.The workshop, on the implementation of UN Security Council Resolution 1540 dealing with non-state actors and weapons of mass destruction (WMD), […]
Sri Lanka still negotiating IMF deal: minister
June 24, 2009 (LBO) – Sri Lanka is still negotiating with the International Monetary Fund for a bailout package, and the first tranche may come in two months, a senior minister said, indicating that an unfinished economic agenda remained to be resolved.“We are still working things out; the doors are not shut yet,” Amunugama told […]
Sri Lanka refugees get more EU aid
June 24, 2009 (LBO) – The European Commission is giving 5 million Euros to help mainly ethnic Tamil refugees held in camps in northern Sri Lanka, on top of 37 million euros of humanitarian aid to the island since 2007.The latest tranche will be given for relief organizations and UN agencies to help 280,000 refugees […]
Sri Lanka stocks close lower on profit taking
June 23, 2009 (LBO) – Sri Lankan shares extended losses Tuesday closing down 0.4 percent as retail investors took profits on blue chip banks and diversified groups, brokers said, The benchmark Colombo All Share Price Index closed down 0.44 percent (10.84 points) to end at 2,436.36 while the Milanka index of liquid stocks fell 1.02 […]
Sri Lanka Tata tea unit warns of tough wage talks
June 23, 2009 (LBO) – Sri Lanka’s Watawala Plantations, whose profits fell sharply last year, has warned talks on a new wage deal with labour could be tough as most firms in the tea industry face cash flow problems. Sathasivam said that it is only to be expected that wages and input prices will increase […]