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Sri Lankan stocks marginally up, rupee stable
May 19, 2009 (LBO) – Sri Lankan shares ended marginally up Tuesday, recovering from early losses on confirmation that Tamil Tiger leader Velupillai Prabhakaran was dead, while the rupee remained stable against the greenback, brokers and dealers said. The government later announced that a DNA (Deoxyribonucleic Acid) test had confirmed the slain Tiger leader’s identity […]
Second Chance
May 19, 2009 (LBO) – Sri Lanka’s central bank said it was giving a second chance for five qualified investors to buy a 33 percent stake in Seylan Bank because bids it received were not fully compliant with the conditions set by the regulator. The central bank’s governing body, the monetary board, said it would […]
‘s independents take stock after election drubbing
MUMBAI, May 19, 2009 (AFP) – A new wave of reform-minded candidates are taking stock after the Indian general election, following high-profile campaigns that failed to translate into votes at the ballot box. “This is going to take some time to change,” he told AFP.“People are definitely talking about better people in parliament, not only […]
UN chief announces Sri Lanka trip
GENEVA, May 19, 2009 (AFP) – UN Secretary General Ban Ki-moon said he will visit Sri Lanka on Friday and called for immediate progress on reconciliation following the government’s declaration of victory over Tamil Tiger rebels.“We urgently need to treat the wounds of a war that has alienated the communities in the island for almost […]
Sri Lanka detains war zone doctors
May 18, 2009 (AFP) – Sri Lanka has detained four doctors who worked inside Tamil Tiger territory, treating wounded civilians and providing reports on heavy civilian casualties that contradicted government accounts, an official said Monday.Doctors Thurairaja Varatharajah, Thangamuttu Sathyamurthi and V.Shanmugarajah were arrested when they crossed over to government territory on Sunday. Another doctor and […]
Tamil Tigers decimated, Sri Lanka president to give victory speech
May 19, 2009 (AFP) – Sri Lanka’s President Mahinda Rajapakse is to deliver a victory speech to parliament Tuesday following the bloody defeat of the Tamil Tigers and their decades-old war for an independent ethnic homeland. Government commandos on Monday stormed into the last tiny patch of jungle held by the guerrillas, killing Tamil Tiger […]
Japan PM welcomes end of Sri Lanka war
TOKYO, May 19, 2009 (AFP) – Japan, Sri Lanka’s largest aid donor and the holder of two thirds of its foreign debt, on Tuesday “welcomed the end of the civil war” in the island-nation, the prime minister’s office said. Prime Minister Taro Aso spoke by telephone with Sri Lankan President Mahinda Rajapakse, who had earlier […]
Sri Lanka president calls for investment to revive war-battered economy
May 19, 2009 (LBO) – Sri Lankan president Mahinda Rajapakse called for private sector investment and the return of the island’s diaspora to revive the economy of the country which he said had finally been freed of terrorism with the defeat of the Tamil Tigers. “The main obstacle to private sector investment, which had been […]
Sri Lanka urged to move quickly on relief, rights
WASHINGTON, May 19, 2009 (AFP) – Sri Lanka must step up relief efforts and provide its Tamil minority political autonomy, governments and relief agencies urged after Colombo said it had finally routed the Tamil Tiger rebels.As the military mopped up in the far northeast, the European Union demanded an independent inquiry into allegations of human […]
Sri Lanka central bank revises foreign assets
May 18, 2009 (LBO) – Sri Lanka’s has adopted a different reporting format for foreign reserves, giving a breakdown of cash advanced to domestic banks, Central Bank governor Nivard Cabraal said. But the government officially declared fighting at an end Monday with state media saying the top leadership of Tamil Tiger separatists has been killed. […]
Sri Lankan stocks shoot up on war victory
May 18, 2009 (LBO) – Sri Lankan shares went up across the board Monday on news that the Liberation Tigers of Tamil Ealam (LTTE) leader Velupillai Prabhakaran and his top lieutenants were killed by the security forces, brokers said. However, the new international head of the LTTE, Selvarasa Pathmanathan also known as ‘KP’ remains at […]
Sri Lanka Carson unit says palm oil market stabilised
May 18, 2009 (LBO) – Palm oil prices have stabilised after last year’s collapse and demand should grow in future, according to Good Hope, a subsidiary of Sri Lanka’s Carson Cumber batch group with plantations in Malaysia and Indonesia.“Further, sustained economic growth in largely populated countries like China and India and increased effect of urbanization […]