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LTTE air attack wipes off Rs. 12 b in stock market value
Tuesday, 27 March 2007 - 5:01 AM SL Time
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The stock market yesterday plunged sharply with over Rs. 12 billion in value lost as investors lost faith in short and medium prospects of the country following the midnight aerial attack by the LTTE on the Katunayake Air Force base.
Panic selling was evident though turnover was relatively low as the market capitalization plunged by Rs. 11.8 billion yesterday to close at Rs. 880 billion from Rs. 892 billion on Friday. Both indices declined by over 1% while foreigners were net sellers too.
`Activity levels were low with selling pressure forcing the indices lower as investors exercised caution following news of a terrorist airstrike on an Air Force base early this morning,` John Keells Stock Brokers said.
Analysts noted that the market has been lackluster throughout last week and the news of LTTE air attack worsened investor sentiment. However some took comfort from the fact that the attack didn`t cause extensive damage as in the case of July 2001 incident at the airport.
The proactive efforts with regard to damage control on the part of defence officials and tourism industry helped restore the country`s image to some extent but concerns remained. In that context some analysts are hopeful that investor confidence would gain while there was agreement that the latest attack would prompt either an all out effort to crush the tigers or pressure from the international community on both parties to get down to peace talks immediately.
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ajan
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27 Mar 2007 13:38:13 GMT Report for Abuse
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LTTE Air Strike, an assessment by SAAG
TamilNet, Tuesday, 27 March 2007, 12:16 GMT
B. Raman, Director, Institute For Topical Studies, South Asia Analysis Group (SAAG) Chennai, says in his analysis: 'The TAF's Tamileelam Air Force's air strike was well-planned and equally well-executed. It was a night operation taking advantage of the weak capability of the SLAF for night operations. It was a precision attack, which carefully avoided causing any casualty or damage in the international airport, which could have roused international ire. There were no civilian casualties----targeted or collateral. As a result, it would not be possible to characterise the attack as an act of terrorism. It was pure and simple a conventional air strike.' |
DVLADV
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27 Mar 2007 19:10:12 GMT Report for Abuse
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| I have thisw article on my space for discussion |
Thambi
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27 Mar 2007 19:15:24 GMT Report for Abuse
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| This is addition to 40% of air capability lost to attack ! |
whatreallyhap
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29 Mar 2007 03:24:57 GMT Report for Abuse
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LTTE air attack wipes off Rs. 12 b in stock market value
In that case the LTTE bombing was a success Rs 12 B worth.
I wish the LTTE lets ma know the next time they are going to make an arrack. I could make a lot of money . Just let me know just one day before the attack.
I think this is only a one of the losses . There are so many other areas effected and the total loss of earnings in these sectors will be felt soon.I hate to guess the amounts.
I think the LTTE has stumbled on to a gold mine . They just have not recognized it for its potential. It is just a matter of time , I am sure they will figure it out soon enough.
I thinkkilling the economy is more effective than killing innocent people.
LTTE should concentrate on this line of attack more.
If they play the game right even the International business Community will support the LTTE in ways that is even more effective than what is getting now.
If the Tamils will not be getting their Indipendence then it is only right to plunder the country for all it has.
Anyway the people in power in the GOSL have and still are doing it, why not the Tamils.
It is ok to plunder a sinking ship. |
p007
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29 Mar 2007 10:57:15 GMT Report for Abuse
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It is ok to plunder a sinking ship.
What if the ship doesn't sink? Is it ok to skin the plunderers alive? |
DVLADV
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29 Mar 2007 19:10:44 GMT Report for Abuse
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LTTE missed the target according to GOSL but the stock market is still falling, will know the result of tourism in a couple of months, some export orders for 07/08 are questionable and after four days people are still talking about the incident.
I think LTTE likes failures like this. |
tamilcanuck
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29 Mar 2007 22:01:44 GMT Report for Abuse
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A very successful failure.
see what one of their own has to say
http://www.lankanewspapers.com/news/2007/3/13395_space.html |
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