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Network Move
July 15, 2009 (LBO) – Aepona, a global provider of telecoms software products and services headquartered in Belfast, Northern Ireland, said it has bought Valista, and will expand operations in Sri Lanka. It enables mobile and broadband operators to treat their network and informational assets as marketable resources that can be made available to third […]
Cheap housing offers lifeline to Indian developers
NEW DELHI, July 15, 2009 (AFP) – “No frills, Simple homes” reads the banner hanging in the Delhi headquarters of Unitech, India’s leading property developer.It’s a mantra that has been taken up by realtors across the country with a new-found passion for affordable housing that owes little to their social conscience and everything to their […]
Sri Lanka cancels US$200mn in arms deals
July 15, 2009 (LBO) – Sri Lanka has cancelled orders for 200 million US dollars of military hardware and ammunition from China, after a 30-year war with Tamil Tiger separatists ended, a top official said.Fonseka said soldiers in areas like northern Jaffna found it difficult to take leave at the current strength. “If we want […]
‘s new army chief vows to re-focus military
July 15, 2009 (AFP) – Sri Lanka’s new army chief took up his post Wednesday vowing to “re-motivate” his 200,000-strong force and build a peacetime military following the crushing of Tamil Tiger rebels.Lieutenant General Jagath Jayasuriya, 50, said his first priority would be the military’s new role in supporting a massive reconstruction effort in areas […]
‘s triumphant Sangakkara takes nothing for granted
July 15, 2009 (AFP) – Kumar Sangakkara on Wednesday celebrated victory over Pakistan in his first series as Sri Lanka’s captain with a warning to team-mates to guard against future setbacks. “It’s true you have got to enjoy the good times, but you need to make sure that the team is prepared to face the […]
Sri Lankans urged to fight for right to information
July 15, 2009 (LBO) – An Indian political activist has urged Sri Lankans to be more demanding of their right to information, saying that was how the public in India won greater access to information and more government accountability. “The right to information campaign started with a peasant movement asking for the Panchayati (village assembly) […]
Sri Lanka anchor currency inflation -1.4-pct in June
July 15, 2009 (LBO) – Inflation of Sri Lanka’s anchor currency, the US dollar, measured by the all urban consumer (CPI-U) index fell 1.4 percent in June from a year earlier, the Bureau of Labour Statistics said. In the month of June, inflation of the Sri Lanka rupee measured by the Colombo Consumer Price Index […]
Sri Lanka interbank excess liquidity increases
July 15, 2009 (LBO) – Sri Lanka’s interbank excess liquidity rocketed by more than 20 billion rupees this week, with fresh injections of central bank credit to the system in the manner of a quantity easing exercise.Excess liquidity in the banking system increased from 5.4 billion rupees Friday to 26.3 billion rupees Monday, but the […]
Sri Lankan stocks close flat
July 14, 2009 (LBO) – Sri Lankan shares closed flat Tuesday as the absence of high net worth individuals, and institutional and foreign investors kept trade volumes low, brokers said. The benchmark Colombo All Share Price Index closed up 0.01 percent (0.24 points) to end at 2,369.11, while the Milanka index of liquid stocks lost […]
Refugee Fund
July 14, 2009 (LBO) – Sri Lanka’s Central Bank said it has opened an account to receive contributions from the public for the welfare and resettlement of people displaced by the ethnic war.It said in a statement all contributions to the account, set up in response to public inquiries about making contributions, are exempted from […]