Category:
Sri Lanka fighting rages despite calls for halt
May 13, 2009 (AFP) – Sri Lanka’s Tamil Tigers put up stiff resistance to advancing government troops on Wednesday, in heavy fighting that saw the beleaguered rebels launch a wave of suicide attacks, the military said.The clashes came as both sides in the brutal conflict faced renewed charges of war crimes, with the United Nations […]
US, Britain urge Sri Lankans to stop fighting, spare civilians
WASHINGTON, May 12, 2009 (AFP) – US Secretary of State Hillary Clinton and her British counterpart David Miliband called Tuesday on Sri Lankans to stop fighting immediately and allow trapped civilians to escape the conflict.During a visit to Sri Lanka late last month, Miliband and Kouchner urged the government to stop the fighting with the […]
Sri Lanka Janashakthi says confident of getting ban lifted
May 13, 2009 (LBO) – Janashakthi Insurance said it was confident of getting a ‘sudden and unexpected’ suspension of its licence by the Insurance Board of Sri Lanka (IBSL) revoked soon. Janashakthi Insurance Managing Director Prakash Schaffter said that the public quoted company was totally transparent in its operations and has always fully complied with […]
Sri Lanka submits seabed claim to UN
May 12, 2009 (LBO) – Sri Lanka formally presented its claim for sovereignty over an extended continental shelf around the island under international law to the United Nations last Friday, government officials said. The claim will be considered at the 24th session of the UN Commission on the Limits of the Continental Shelf to be […]
Sri Lanka stocks down, rupee loses ground
May 12, 2009 (LBO) – Sri Lankan shares came down Tuesday on fears that a 1.9 billion dollar International Monetary Fund bailout was delayed, while the rupee weakened against the dollar, brokers and dealers said. The rupee opened at 117.05/117.25 and fell to 117.25/0117.45 levels by late afternoon trade. In the stock market the All […]
Intact Core
May 12, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed the ‘AA+(lka) national long-term rating of Commercial Bank, Sri Lanka’s largest private bank, with a stable outlook. It said in a statement the rating reflects the bank’s sustained strong financial profile amongst local commercial banks. Fitch has also confirmed Commercial Bank’s individual rating […]
Bootleg Ware
May 12, 2009 (LBO) – Software piracy in the Asia-Pacific region continued to grow last year with Sri Lanka the second worst offender, a study said Tuesday, AFP news agency reported. The piracy was driven by the rapid growth in computer sales and the availability of bootleg programmes online. AFP said the annual survey by […]
Mobile Football
May 12, 2009 (LBO) – Sri Lankan football fans now have the option to have interactive gaming sessions, download content and view English premiership football club Manchester United (MU) matches on the go with Bharti Airtel connections. An agreement signed between Bharti Airtel and MU would give Bharti users in India, Sri Lanka and Seychelles […]
Sri Lanka troops take more rebel territory: military
May 12, 2009 (AFP) – Sri Lankan troops have made fresh advances into the small patch of territory held by the Tamil Tigers, the defence ministry said Tuesday.A statement said government forces advanced 800 metres (yards) during fighting on Monday, cutting deeper into the roughly four square kilometres (1.5 square miles) of coastal jungle in […]
Sri Lanka Janashakthi appeals against suspension of insurance licence
May 12, 2009 (LBO) – Janashakthi Insurance said it had appealed against the suspension of its licence by the Insurance Board of Sri Lanka which was due to non-compliance with the solvency ratio as the regulator had not accepted previously accepted assets.. “The company is in the process of appealing against this sudden and unexpected […]
Sri Lanka Janashakthi Insurance licence suspended for three weeks
May 12, 2009 (LBO) – Sri Lanka’s Insurance Board said it has suspended Janashakthi Insurance’s licence for three weeks from Tuesday and prohibited it from issuing new insurance policies. The suspension is in respect of Janashakthi’s Long Term Insurance Business and General Insurance Business, the Insurance Board of Sri Lanka (IBSL) said in a statement. […]
The illusion of rational man; enter the economics of fear
May 12, 2009 (LBO) – The Greek historian Plutarch has recorded an encounter which Alexander the Great had with one of the sages of Taxila University, Dandamis, in the third century B.C. The youthful emperor, having been impressed by Dandamis’ skilful resolution of numerous riddles thrown at him, had asked one final question: ‘how can […]