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Sri Lanka says Tiger defences captured
December 18, 2008 (AFP) – Sri Lankan troops have captured Tamil Tiger defences near the rebels’ political headquarters after heavy fighting, the government said Thursday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Soldiers were conducting “counter-terrorist operations” along the northern and northwestern defences of Kilinochchi, the […]
Stand Off
Dec 19, 2008 (LBO) – Sri Lanka’s cabinet of ministers had not revised oil prices after meeting for a second time, with a court decision to cut prices still to be officially conveyed, an official said. The cabinet is expected to meet again on the issue, he said. Sri Lanka’s Supreme Court directed the government […]
Developed countries urged not to curb migrant workers
Dec 18, 2008 (LBO) – Developed countries should not shut out migrant workers at times of economic crisis as they still face labour shortages and workers need to send money home to fight poverty, International Organization for Migration (IOM) said. They should see migrants as part of the solution during economic crises, the IOM said […]
Sri Lanka growth expected to slow in last quarter
Dec 17, 2008 (LBO) – Sri Lanka’s economic expansion is likely to slow in the last quarter as an external slowdown hits demand for its products, resulting in year-end growth of around 6.0 percent, officials said. In the third quarter the economy expanded by 6.3 percent, the government’s statistics office said, helped by high agricultural […]
Sri Lanka shares barely changed
Dec 17, 2008 (LBO) – Sri Lankan shares were barely changed Wednesday, with the indices marginally firmer and almost half the trading volumes coming from transactions in parcels of John Keells Holdings, brokers said.Meanwhile, Hotel Services, owners of the Ceylon Continental Hotel said in a stock exchange filing that the major shareholders were willing to […]
Sri Lanka tea farmers say harvests halved
Dec 17, 2008 (LBO) – Sri Lankan tea growers said their harvests had halved with the collapse in prices at the Colombo auctions, affecting the livelihoods of thousands of small farmers and the local economy. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Chandrasena Wijesinghe, convenor of […]
Sri Lanka steps up air strikes after heavy ground battles
December 17, 2008 (AFP) – Sri Lanka stepped up air attacks in the north Wednesday, a day after troops and Tamil Tigers fought intense ground battles around the rebels’ stronghold that left hundreds dead and wounded. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Military officials said […]
Sri Lanka troops, Tigers trade fire after heavy fighting
December 17, 2008 (AFP) – There was sporadic fighting in northern Sri Lanka Wednesday, a day after troops and Tamil Tigers fought intense battles around the rebels’ stronghold that left hundreds dead and wounded.The defence ministry said security forces recovered five bodies of Tiger guerrillas Tuesday evening after fighting around the rebels’ political capital of […]
Sri Lanka apparel exporters win time in GSP deal
Dec 17, 2008 (LBO) – Sri Lankan apparel exporters say a temporary extension of a scheme giving duty free access to European markets provides time to recover lost orders, cut costs and ensure compliance with its eligibility criteria. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Sri […]
Fed cut rates to near zero; desperate efforts to bring inflation back
WASHINGTON, December 17, 2008 (AFP) – The Federal Reserve used up its ammunition on monetary policy Tuesday by slashing its base lending rate to virtually zero but pledged further efforts to stimulate credit and revive a moribund economy.The actions by Fed chairman Ben Bernanke and his colleagues put the central bank on track toward the […]
Sri Lanka rupee edges lower amid collapsing oil bill
Dec 16, 2008 (LBO) – The Sri Lanka rupee eased towards 111.90/112.05 against the US dollar, dealers said, with the central bank showing signs of easing off on an ill-fated sterilized intervention campaign that cost the country a third of its foreign reserves. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ […]
Sri Lanka share trading pumped up by JKH, Distilleries
Dec 16, 2008 (LBO) – Sri Lankan share trading picked up Tuesday with sizeable transactions in conglomerates John Keells Holdings and Distilleries pumping up volumes, although the indices still ended marginally lower, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]