Category:
Travel Ban
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it had won a court order impounding the passports of several officials of Okanda Finance Limited, an unlicensed finance company, to prevent them leaving the country. A bank statement said four of six organisations and individuals carrying on finance business without authority had failed to […]
Cairn India gets nod for new Indian field
Jan 19, 2009 (LBO) – Cairn India, which has won a license to explore for oil off Sri Lanka’s west coast, said it got Indian government approval to go ahead with the development of an oil field in north-west India. The company said it holds material exploration and production positions in west India and east […]
Sri Lanka troops find plane wreckage
January 19, 2009 (AFP) – Sri Lankan troops have found the wreckage of an aircraft near an air strip captured from Tamil Tiger rebels in the north of the island, military officials said on Monday.The wreckage was found on Sunday in the jungles around Mullaittivu, the last stronghold of the Liberation Tigers of Tamil Eelam […]
‘s most wanted Tiger running out of options
January 19, 2009 (AFP) – Sri Lanka’s top Tamil Tiger, who inspired hundreds of followers to stage suicide bombings in the fight for a separate state, is facing his biggest challenge yet and is fast running out of options. To his followers, Velupillai Prabhakaran is seen as a “Sun God” who formed a formidable and […]
Sri Lanka cricket feels squeeze as sponsors take flight
January 19, 2009 (AFP) – Sri Lanka’s economic slowdown has taken its toll on the island’s hugely popular sport of cricket as long-term sponsor disappear, sports minister Gamini Lokuge said on Monday.During the three-month trial that ends on March 31, Sri Lanka will play two Tests and three one-day internationals in Pakistan and host India […]
Jayawardene plays down Mendis hype in Pakistan series
KARACHI, January 18, 2009 (AFP) – Sri Lankan skipper Mahela Jayawardene Sunday refused to single out spin sensation Ajantha Mendis as the major threat for Pakistan in the one-day series.The 23-year-old Mendis and his more illustrious partner Muttiah Muralitharan are tipped to hold the aces against the home team in the three-match series which starts […]
Hedge Exposure
Jan 19, 2008 (LBO) – Sri Lanka’s Commercial Bank said its exposure to an oil derivative sold through People’s Bank would be 21.6 million dollars with oil at 35 dollars a barrel, which the state-run bank has so far not honoured. The contract is one of several arranged for state-run Ceylon Petroleum Corporation (CPC) by […]
Sri Lanka would not apply for IMF bailout: Central Bank
Jan 19, 2009 (LBO) – Sri Lanka’s central bank said it would not apply for an International Monetary Fund (IMF) bailout or devalue the currency but would seek other means to shore up the island’s dwindling foreign reserves. A typical IMF package involves a clean float of the currency to stop further sterilized intervention and […]
Sri Lanka Tamil Tigers surrounded, rebel chief may have fled: army
January 18, 2009 (AFP) – Sri Lankan government troops have almost completely cornered the Tamil Tigers in their northeastern jungle base and the rebels’ leader may have already fled the island, the army chief said.The Sri Lankan army chief, who narrowly escaped assassination in a Tamil Tiger suicide bombing in April 2005, said he hoped […]
” as Sri Lanka keeps up offensive
January 18, 2009 (AFP) – Sri Lanka’s Tamil Tigers are threatened with “extinction” following a massive military drive against them, but a political solution will be crucial to end long-standing Tamil grievances, observers say. The Tigers’ de facto state in the north of the island has been crumbling rapidly.They lost their political capital Kilinochchi earlier […]
Box Rates
Jan 17, 2009 (LBO) – A sharp fall in freight rates owing to the global recession and oversupply of tonnage is helping Sri Lankan exporters cope with slowing demand in overseas markets and high domestic costs, trade officials said.Randolph Perera, chairman of the Sri Lanka Shippers’ Council representing exporters and importers, said the drop in […]
Sri Lanka civilians flee as fighting escalates: army
January 17, 2009 (AFP) – Some 170 people have fled rebel-controlled areas in northern Sri Lanka as fresh fighting erupted across several fronts, the military said Saturday. A massive assault by Sri Lankan troops has left the Tigers cornered in their military stronghold in the northeastern coastal district of Mullaittivu. Sri Lanka has poured a […]