Category:
‘s Lasantha Wickrematunge
Jan 12, 2009 (LBO) – “To die for the benefit of the people, is more important than Tai mountain; working for the fascists and dying for those who oppress and exploit the people, that death would be lighter than a feather.” – Mao Zedong I did not know the assassinated Mr Wickrametunge. So I do not […]
Sri Lankan govt under fire as murdered editor buried
January 12, 2009 (AFP) – The funeral of a Sri Lankan newspaper editor and staunch critic of the war on Tamil rebels was held Monday with the island’s government facing allegations of being behind his execution-style murder.Security was tight as thousands of mourners attended a Christian service for Lasantha Wickrematunga at the Assembly of God […]
Legal Tangle
Jan 11, 2009 (LBO) – The widening fallout on Sri Lanka’s inter bank markets of petroleum derivatives suspended by court took a new turn this week with state-run People’s Bank going to court against privately owned Commercial Bank.People’s Bank won a restraining order from Colombo Commercial High Court against Commercial Bank stopping the private bank […]
India Inc in damage-control mode after billion-dollar fraud scandal
MUMBAI, January 11, 2009 (AFP) – A billion-dollar accounting scandal at one of India’s top outsourcing firms has left the government and financial regulators scrabbling to control the damage.Besides huge losses for investors, the scandal has seriously dented India Inc.‘s reputation for strong corporate governance, often viewed as being a notch above its other Asian […]
Sri Lanka military launches air strikes against retreating Tamil Tigers
January 11, 2009 (AFP) – Sri Lanka’s military launched air attacks against the last remaining jungle hideouts of Tamil Tiger rebels after driving them out of their main strongholds, officials said on Sunday.“The Sri Lankan army has so far captured four airstrips of the LTTE terrorists during the ongoing counter terrorist operations,” the ministry said. […]
Fiery Baptism
Jan 10, 2009 (LBO) – A former chief executive of Sri Lanka’s Shell gas unit who has turned around Malaysian Airlines has termed his experience in the island as a ‘baptism of fire’. In December 2005 Idris Jala took over state-run Malaysian Airlines, in a year the firm lost 1.3 billion Malysian ringgit. In two […]
” on Tigers
January 10, 2009 (AFP) – Sri Lankan security forces were ready to deal a “decisive blow” to the remaining Tamil Tiger positions following the capture of the highly strategic Elephant Pass, the defence ministry said on Saturday. After four days of fierce fighting, government forces on Friday established full control over Elephant Pass, also known […]
Sri Lanka shares slide in thin trade
Jan 09, 2009 (LBO) – Trading on Sri Lanka’s stock exchange virtually dried up Friday as turnover fell to a mere 18 million rupees and the market ending marginally weaker with Lanka Cement being the most actively traded stock, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Two Generations
Jan 09, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) has begun training the children of retired workers being hired for jobs in the port but stressed productivity improvements were needed in the hugely overstaffed organisation.The SLPA said in a statement it had launched a new phase in its professional training programme called ‘Piya […]
Stable Path
Jan 09, 2009 (LBO) – Sri Lanka’s Seylan Bank is now stable and is focusing on improving asset quality, and some customers who earlier withdrew deposits are now bringing them bank, officials said. Chief executive Ajita Pasqual said the bank had raised 800 million rupees and with the year-end profits, it was on its way […]
Sri Lanka tea prices revive at auction, crop shortfall seen
Jan 09, 2009 (LBO) – Sri Lankan tea prices revived at the first auction of the year this week with the industry saying a shortfall in the crop and the forthcoming ‘quality season’ should ensure better earnings in the first quarter.Anil Perera, head of the Private Tea Factory Owners Association, said the shortfall in crop […]
Sri Lanka military gains full control of highway to Jaffna: President
Jan 09, 2009 (LBO) – Sri Lanka’s military has gained full control of a strategic highway linking the northern Jaffna peninsular with the south of the country after 23 years, President Mahinda Rajapaksa said in a nation-wide television address. Point Pedro is the northernmost point of the island, and Dondra Head the southernmost point. Education […]