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Berry Boost
Dec 16, 2008 (LBO) – Dialog Telecom, Sri Lanka’s largest telco, says the introduction of Blackberry mobile devices has boosted productivity at Brandix, a top apparel firm that has become its largest user. Blackberry allows users to check and respond to mail, download attachments and also use calendars and address books. Dialog says it is […]
Sri Lanka fighting kills 145: military
December 16, 2008 (AFP) – Intense fighting in northern Sri Lanka on Tuesday left at least 25 government troops and 120 Tamil Tigers dead in ongoing battles for the rebels’ political capital, a military spokesman said.Security forces carried out simultaneous attacks against Tamil Tiger strong-points near the town of Kilinochchi, and also on the Jaffna […]
Sri Lankan Airlines drops flights to some Indian cities
Dec 16, 2008 (LBO) – Sri Lankan Airlines is dropping flights to Calicut, Cochin, Coimbatore and Hyderabad, from January 15, but increasing flights to more popular destinations including, Maldives, the airline said. The airline said the suspension of services to the four Indian cities will not affect the country’s tourism or export industry. Flights to […]
Emirates includes Sri Lankan firms in frequent flyer program
Dec 16, 2008 (LBO) – A frequent flyer program targeted at small and medium enterprises by Emirates, launched in the UAE in May 2008, has now been made available to Sri Lankan firms, the airline said. The ‘Business Rewards’ scheme allows a firm to earn flying miles whenever a registered employee books through the scheme. […]
Oil Commission
Dec 16, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) was instructed to consider a bigger commission to its dealers, by the island’s Supreme Court, as part of directions issued on a new pricing formula.CPC’s newly appointed chairman, Asoka Thoradeniya was instructed to discuss the issue with Laugfs, a distributor that went to […]
Sri Lanka economy expands 6.3 pct in third quarter: statistics office
Dec 16, 2008 (LBO) – Sri Lanka’s economy expanded 6.3 percent in the third quarter of 2008 over the same quarter the previous year, and against 7.0 in the second quarter of this year, the governments statistics office said. Services grew by 5.5 percent, industry 5.6 percent and agriculture by 12.4 percent, statistics director Suranjana […]
Sri Lanka central bank disputes S&P credit downgrade
Dec 15, 2008 (LBO) – Sri Lanka’s central bank has disputed a sovereign credit downgrade by Standard & Poors to ‘B’ from ‘B+’ saying it done without “proper assessment”. The Central Bank also said some comments in a media statement issued by the rating agency were “factually incorrect, logically untenable and grossly misleading.” The central […]
Sri Lanka rupee trades without intervention
Dec 15, 2008 (LBO) – The Sri Lanka rupee traded around 111.45/55 levels after dipping lower to 111.50/60 Monday, while overnight rates edged lower on excess liquidity, dealers said. The rupee closed at 111.30/45 levels Thursday with no intervention and there was no intervention in early trading Monday, dealers said. Overnight call rate rates dropped […]
Sri Lanka shares slide on low volumes
Dec 15, 2008 (LBO) – Sri Lankan shares fell 2.17 percent Monday with a single transaction in Chevron Lubricants Lanka accounting for almost half the meagre trading volume of 55 million rupees, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Top Ponzi
MADRID, December 15, 2008 (AFP) – European banks were counting at the weekend the damage from the investment scandal involving New York trader Bernard Madoff, with Spain’s largest bank Santander saying a subsidiary may have lost more than three billion dollars.Madoff is alleged to have lost 50 billion dollars of investors’ money in a giant […]