Tag: lankabusinessonline
Price War
Sept 13, 2007 (LBO) – The bunker fuels subsidiary of John Keells Holdings, a top money-spinner of the group, looks set to face heightened competition with a rival supplier in Colombo port threatening to cut prices. The Sri Lanka Shipping Group, which sells ship fuel through its bunkering subsidiary, Lanka Maritime Services, has said it […]
Peak Price
SINGAPORE, Sept 13, 2007 (AFP) – Crude oil prices weakened in Asian trade Thursday on profit-taking after scaling new peaks on concerns over tight US supplies and hurricane worries, dealers said. At 10:35 am (0235 GMT), New York’s main contract, light sweet crude for October delivery dropped 25 cents to 79.66 US dollars a barrel […]
Norway confident stalled Sri Lanka talks will start again
OSLO, Sept 11, 2007 (AFP) – The main mediator in Sri Lanka’s peace process, Norwegian Erik Solheim, expressed confidence Tuesday that stalled talks between the army and Tamil Tiger rebels would one day start again. “It’s very clear that again they will come back to the table” of negotiations, Solheim told reporters in Oslo. “We […]
Australia says 72 Sri Lankan boatpeople are refugees
SYDNEY, Sept 12, 2007 (AFP) – Australia Wednesday granted refugee status to 72 Sri Lankan asylum-seekers who were intercepted at sea in February but said they would be settled overseas. Earlier this month two Indonesians who were on the boat with the Sri Lankans were jailed in Australia over the people-smuggling operation. A boat carrying […]
Sri Lanka issues tsunami warning
Sept 12, 2007 (LBO) – Sri Lanka has issued a tsunami warning following a 7.9 magnitude quake in Indonesia. The department of meterology asked residents of Northern, Southern and Southwestern Sri Lanka to stay away from coastal areas. The Pacific Tsunami waring center said and Indian Ocean wide tsunami watch was in effect for the […]
Sri Lanka issues evacuation order; waves reach Indonesia
Sept 12, 2007 (LBO) – Sri Lanka has issued evacuation orders to people living in coastal areas after a tsunami struck the coast of Indonesia from a 8.2 magnitude earthquake. Sri Lanka’s Disaster Management Centre estimates that the first waves could reach Sri Lanka by 7.30 pm local time (1400GMT) The Pacific Tsunami Warning Centre […]
New High
VIENNA, Sept 11, 2007 (AFP) – OPEC exporters agreed Tuesday to pump an extra 500,000 barrels of oil a day to cool near-record crude prices, in a victory for Saudi Arabia over its reluctant partners.Analysts said that while the gesture would ease fears about a supply crunch heading into the northern hemisphere winter, the peak […]
Sri Lanka lifts tsunami warning
Sept 12, 2007 (LBO) – Sri Lanka has lifted a tsunami warning and evacuation order issued after an 8.2 magnitude earthquake generated a small wave in Indonesia. Sri Lanka lifted the warning after Indonesia gave the all clear. Police said residents along southern coastal settlements fled inland and to high ground when the tsunami alert […]
Sri Lanka opposition slam HSBC, business chambers over dollar bond
Sept 12, 2007 (LBO) – Sri Lanka’s main opposition has slammed HSBC Bank over its involvement in a controversial sovereign bond issue and accused two trade chambers that came to its aid of creating a “new class of exploiters”. Last week HSBC defended itself saying it was following local rules after the opposition United National […]
Sri Lanka says wanted Tamil Tiger arms supplier arrested
Sept 11, 2007 (LBO) – Sri Lanka’s defence ministry Tuesday claimed that one of the most wanted Tamil Tigers had been arrested by Interpol in Bangkok, Thailand. He and his group are suspected of running weapons purchased Thailand and neighbouring countries to the Tamil Tigers in Sri Lanka. Quoting ‘reliable sources from Thailand’ the ministry […]
Sri Lanka navy sinks suspected rebel gun-running ships
Sept 11, 2007 (AFP) – Sri Lanka’s navy sank at least three suspected Tamil Tiger gun-running vessels off the island’s southeastern sea board, navy officials said Tuesday.Clashes between suspected Tamil Tiger ships and the Sri Lankan navy have escalated in recent months amid heavy fighting in the island’s northern and eastern regions.Naval craft intercepted the […]
Sri Lanka navy claims major success against Tamil Tigers
COLOMBO, Sept 11, 2007 (AFP) – Sri Lanka’s navy on Tuesday claimed its biggest success against the Tamil Tiger rebels, saying it had virtually wiped out the separatist group’s ability to smuggle arms into the country. More than 5,400 people have been killed in a new wave of fighting since December 2005 when a Norwegian-brokered […]