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‘s call for ceasefire: ministry
May 4, 2009 (AFP) – Sri Lanka on Monday rejected a Canadian call for a ceasefire in the military campaign against cornered Tamil Tiger guerrillas in the island’s northeast, the foreign ministry said.Sri Lanka’s Foreign Minister Rohitha Bogollagama told the visiting Canadian Minister for International Cooperation Beverly Oda that a previous unilateral truce by the […]
Sri Lanka HNB Assurance March profit up 12-pct
May 04, 2009 (LBO) – Sri Lanka’s HNB Assurance said March quarter after tax profit rose 12 percent to 15.9 million rupees from a year ago helped by a sharp increase in earnings from investments. Gross written premium rose 12 percent to 457 million rupees, the company said in a stock exchange filing of its […]
Jayawardene leads Punjab to last-over win over Kolkata
PORT ELIZABETH, May 3, 2009 (AFP) – Mahela Jayawardene struck an unbeaten 52 to guide Kings XI Punjab to a nail-biting six-wicket victory over Kolkata Knight Riders in the Indian Premier League here on Sunday. The Sri Lankan batsman hit seven fours in his 41-ball knock as Punjab surpassed Kolkata’s competitive 153-3 in a last-ball […]
‘s main line railway
May 4, 2009 (LBO) – “You never want a serious crisis to go to waste.”– President Obama’s Chief of Staff Rahm Emanuel Without question, Sri Lanka is in the thrall of multiple crises. In the short-term, the government is almost on the verge of inflicting a decisive military defeat on the LTTE, but is being hamstrung […]
Sri Lanka business told to watch out for bad debt
May 04, 2009 (LBO) – Sri Lankan businesses should be more cautious and assess customer creditworthiness more often, when doing business during a recession, a senior corporate executive said. They should watch out for bad debts as during such times previously solvent customers can quickly become insolvent, says Chemanex chief executive Preethi Jayawardena who was […]
Bitter with West, Sri Lanka turns East for cash and support
May 4, 2009 (AFP) – The Sri Lankan government is increasingly tilting towards Iran, Libya and China for foreign aid as its traditional Western allies ramp up their criticism of the war against Tamil rebels. Many Western nations have outlawed the Tamil Tigers and cut off their funding networks, but the Colombo administration is deeply […]
Derivative Probe
May 3, 2009 (LBO) – Sri Lanka’s anti-bribery office is probing allegations that foreign trips were given to key officials to sweeten the sale of oil derivatives by international banks to a state-run oil firm which later went against it, a media report said. The exotic oil derivatives were sold to CPC by Standard Chartered, […]
Turntable
May 02, 2009 (LBO) – Sri Lanka’s state-run railway needs to charge higher fares and compete with road transport on a level playing field in order to avoid losses, its general manager Lalithasiri Gunaruwan said.He said he was trying to turnaround Sri Lanka Railways through changes in fares and better management. The department has recommended […]
Sri Lanka rejects satellite evidence of civilian bombings
May 2, 2009 (AFP) – Sri Lanka’s defence ministry on Saturday rejected satellite imagery issued by the United Nations in support of allegations that security forces shelled a civilian area. The defence ministry said the allegations based on UN aerial images posted on the UNOSAT website and used on several foreign television channels had “no […]
Sri Lankan insurer Ceylinco cleans up balance sheet
Apr 29, 2009 (LBO) – Sri Lanka’s Ceylinco Insurance Company has reported profits of 486.7 million for 2008, down 52.0 percent as the firm cleaned up its balance sheet by writing off more than 300 million rupees injected to related companies. Ceylinco Insurance revenues climbed 21 percent to 20.0 billion rupees and the firm paid […]
Sri Lanka journalist detention highlighted by Obama
May 02, 2009 (LBO) – US President Barack Obama said he was concerned about threats against the media the world over, and mentioned the plight of Sri Lankan journalist J S Tissainayagam who has been detained for over a year.“In every corner of the globe, there are journalists in jail or being actively harassed: from […]
Sri Lanka IMF loan would not be delayed on politics: central bank
May 2, 2009 (LBO) – Technical levels discussions for Sri Lanka’s International Monetary Fund (IMF) loan have now been finalized and with the UN Security Council also not standing in the way, there would be no further delays, a senior central banker said. Media reports indicated the United States, which has substantial say in IMF […]