Category:
Sri Lanka turns back Tamil aid ship
June 8, 2009 (AFP) – Sri Lankan authorities Monday ordered a foreign-owned ship carrying aid for Tamil civilians to leave the island without unloading its cargo.The Syrian-registered ship, Captain Ali, was seized last week, and the Sri Lankan defence ministry said the cargo of food and other supplies had been destined for the now defeated […]
‘s share market on a roll: analysts
MUMBAI, June 7, 2009 (AFP) – Indian shares trading near 10-month highs are on a roll and could see more gains as investors pour money back into the South Asian country, analysts say. Indian stocks are already among the top-performing emerging markets this year as financial institutions and overseas funds bet on robust growth in […]
Sri Lanka grants amnesty to military deserters
June 7, 2009 (AFP) – Sri Lanka’s president on Sunday marked a key Buddhist celebration by granting a pardon to 585 jailed military deserters, officials said. In 2003, the government moved to legally discharge from the security forces 51,000 deserters. Tens of thousands were killed in Sri Lanka’s decades-old Tamil separatist conflict. The pardon applied […]
Iran inflation dips below 24 pct
TEHRAN, June 7, 2009 (AFP) – Iran’s inflation rate, one of the biggest economic challenges facing its next president, dipped last month to under 24 percent, the ISNA news agency reported on Sunday. His claim was dismissed by Karroubi.Inflation fell to 23.6 percent in the Iranian calendar month of Ordibehesht ending May 21 from 24.5 […]
Japan envoy to discuss Sri Lanka war victims: diplomats
June 7, 2009 (AFP) – Japan will send a special envoy to Sri Lanka this week to discuss the plight of nearly 300,000 Tamil civilians displaced by recent fighting, diplomats said Sunday. Japan, Sri Lanka’s largest single aid donor, was sending Yasushi Akashi on a three-day visit starting Monday to assess Colombo’s moves to re-settle […]
Below Par
June 06, 2009 (LBO) – Ships calling at Colombo port are still experiencing delays owing to problems in a new computerised terminal management system, shipping agents said. Colombo is south Asia’s transhipment hub port with better cranes than other ports in the region but its computer systems had not been updated for some time. The […]
Safety Net
June 06, 2009 (LBO) – Sri Lanka’s Commercial Bank of Ceylon (CBC) has inked a deal with the International Finance Corporation (IFC) to underwrite 50 percent of the investment risk in the volatile renewable energy business, a senior bank official said. IFC is sharing the risk in renewable energy projects with us, said Amitha Gooneratne, […]
Sri Lanka tea exports fall sharply in April
June 06, 2009 (LBO) – Sri Lanka’s shipments of tea, its main commodity export, fell sharply in April compared with a year ago, as production was hit by severe drought earlier in the year, brokers said.Asia Siyaka said Sri Lanka earned 34.4 billion rupees from tea exports up to April 2009, down 19 percent from […]
Sri Lankan FM denies 20,000 Tamils killed in final onslaught: report
LONDON, June 6, 2009 (AFP) – Sri Lanka’s Foreign Minister Rohitha Bogollagama has denied claims that more than 20,000 Tamil civilians were killed during the government’s final onslaught against rebels, a report said Saturday. Bogollagama told The Times that the newspaper was wrong to report last week that so many civilians had died in the […]
Sri Lanka Hemas profits hit by start-up losses, interest costs
June 05, 2009 (LBO) – Sri Lanka’s Hemas Holdings said group net profit fell 31.7 percent to 775 million rupees in the 2008-09 financial year from a year ago largely owing to start-up losses and finance costs of new investments.Group revenue rose 8.3 percent to 15.3 billion rupees in the financial year ended March 31, […]
Sri Lankan stocks recoup losses
June 05, 2009 (LBO) – Sri Lankan stocks Friday recovered from Thursday’s losses but still managed lose 1.71 percent during the week due to profit taking, mainly by foreign investors, brokers said. The spot dollar remained unchanged at 114.90/95 levels in late afternoon trade, dealers said. Dealers said the money market was dull this week […]
One Horse
June 5, 2009 (LBO) – Sri Lanka’s Lanka Orix Leasing Company (LOLC) is the sole bidder for a 33 percent stake in Seylan Bank offered by the Central Bank to a strategic partner that can inject equity to the firm, market sources said. “In response to the invitation for fresh bids by the Central Bank […]