TPG pulls out of SriLankan Airlines bid talks – airline chairman

By Ranga Sirilal COLOMBO, May 5 : US private equity firm TPG, one of three bidders short-listed to buy a 49 percent stake in state-owned SriLankan Airlines, has pulled out of talks about the potential acquisition, the chairman of the national carrier said. Sri Lanka has been looking to sell the minority stake in the […]

Many feared buried as hopes dim after Sri Lanka garbage dump landslide

By Shihar Aneez and Ranga Sirilal COLOMBO, Apr 16 : Hopes faded today for the survival of an estimated 100 people trapped under the mud and debris of a landslide at a giant rubbish dump in the Sri Lankan capital. Police say the known death toll from the disaster has risen to 26 and emergency […]

Sri Lanka rubbish dump landslide death toll rises to 19

By Ranga Sirilal and Shihar Aneez COLOMBO, Apr 15 : Emergency workers looking for survivors after a massive rubbish dump collapsed in Sri Lanka suspended their search on Saturday night, having already extracted 19 bodies from the rubble and mud. The 300-foot-high (90-metre) dump in the capital Colombo collapsed after flames engulfed it late on […]

Sri Lanka rubbish dump landslide death toll rises to 16

By Ranga Sirilal and Shihar Aneez COLOMBO, Apr 15 : A rubbish dump landslide in the Sri Lankan capital Colombo killed at least 16 and injured over a dozen, military spokesman and hospital officials said on Saturday, as emergency workers dug into the mountain of trash in search of survivors. The estimated 300-foot (91 metre) […]

IMF tells Sri Lanka to rebuild reserves, be ready to tighten

By Shihar Aneez COLOMBO, Mar 7 : The International Monetary Fund on Tuesday urged Sri Lanka’s central bank to rebuild international reserves, while maintaining exchange rate flexibility, and to be ready to tighten monetary policy if credit growth or inflation do not abate. Following its second review of a $1.5 billion three-year loan programme, the […]

Sri Lanka seeks higher bids for ailing airline

By Shihar Aneez COLOMBO, Feb 27 : Sri Lanka is seeking higher bids to restructure its state-owned loss-making airline, the finance minister said today, after three short-listed firms failed to give “sizable” bids. Sri Lanka wants to sell up to 49 per cent of the national carrier along with management control, part of a move […]