Category:
Ambiguity
Feb 03, 2008 (LBO) – Sri Lanka’s Commercial Bank says the ‘ambiguity’ behind a suspension of payments on oil derivatives sold to state-run Ceylon Petroleum Corporation (CPC) is causing uncertainty, and leaving it in a tight position. “Unless there is a strict instruction by the regulator we feel that we have to honor the counterparties […]
Sri Lanka Galle Face group to build resort on Maldive island
Feb 03, 2009 (LBO) – Sri Lanka’s Galle Face Hotels Group plans to build a 100-room luxury resort hotel on an atoll in the Maldivian archipelago, a senior official said.The new hotel is sited on an uninhabited island which also has a domestic airport.and airport buildings. The new Maldivian president Mohamed Nasheed, during his recent […]
Cheap PC
NEW DELHI, February 3, 2009 (AFP) – India has unveiled plans to produce a laptop computer costing just 10 dollars in a bid to improve the skills of millions of students across the country. New Delhi rebuffed a previous attempt to bring cheap laptops to India, led by MIT computer scientist Nicholas Negroponte’s One Laptop […]
Trading Deal
Feb 03, 2009 (LBO) – Sri Lankan software firm Millennium IT said it has won the contract to provide the trading platform for India’s new International Multi-Commodity Exchange (IMX). The exchange is expected to go live in the first quarter of the next financial year, subject to regulatory approvals, according to a statement by Indiabulls […]
Australian man caught with pigeons in trousers
MELBOURNE, February 3, 2009 (AFP) – An Australian man was caught with two live pigeons stuffed in his trousers as he got off a flight from the Middle East, authorities said Tuesday. Customs officers body-searched the 23-year-old after he was allegedly found with two bird eggs in a vitamin container in his pocket during baggage […]
Sri Lanka Tamil Tigers urged to lay down arms
Feb 03, 2009 (LBO) – The United States and other powerful donors involved in Sri Lanka’s ethnic conflict have urged Tamil Tiger rebels to surrender, to prevent further civilian casualties, saying their days were numbered. The co-chairs also urged the government and the rebels to declare a “temporary no-fire period” to allow for evacuation of […]
Sri Lankan troops capture last Tamil Tiger airstrip: military
February 3, 2009 (AFP) – Sri Lankan government troops on Tuesday captured the last of several jungle airstrips used by the Tamil Tigers to launch air strikes across the island, the defence ministry said.The two-kilometre (1.25-mile) long runway and hangar for light aircraft was seized by troops advancing on the village of Thirivilaru in Mullaittivu […]
‘s bunker: defence ministry
February 3, 2009 (AFP) – Sri Lankan troops advancing in the north of the island have found an underground bunker complex believed to have been a home of the leader of the Tamil Tiger rebels, the defence ministry said Tuesday. The ministry said the two-storey-deep bunker had electricity generators, air conditioning and medical supplies, and […]
‘s bunker: ministry
February 3, 2009 (AFP) – Sri Lankan troops advancing in the north of the island have found an underground bunker complex believed to have been a home of the leader of the Tamil Tiger rebels, the defence ministry said Tuesday.The ministry said the two-storey-deep bunker had electricity generators, air conditioning and medical supplies, and was […]
Sri Lanka central bank to swap rupees for dollars
Feb 02, 2008 (LBO) – Sri Lanka’s Central Bank is negotiating with friendly central banks to swap rupees for dollars, to boost the country’s flagging foreign reserves and meet unforeseen outflows, officials said.Central Bank Governor Nivard Cabraal said the first such swap deal is likely to be concluded ‘soon’ but declined to give a date […]
Sri Lanka targets US$500mn from diaspora: CB Governor
Feb 02, 2009 (LBO) – Sri Lanka is planning to sell 500 million dollars of government securities to the diaspora community in 2009 with a road show to be kicked off this month in 11 countries, Central Bank Governor Nivard Cabraal said. The money will be channeled into the country through a forex account which […]
Sri Lanka stocks dragged down by heayweights
Feb 02, 2009 (LBO) – Sri Lankan shares were dragged down Monday by losses in heavyweights over earnings concerns with Lanka Cement the most actively traded stock in anticipation of a revival in construction activity, brokers said.Commercial Bank fell 2.62 percent (2.50 rupees) to 93 rupees with investors remaining worried over suspended oil hedge payments […]