All Blogs
Broad Backbone
Sept 08, 2008 (LBO) – Sri Lanka is planning an optical fibre backbone to take broadband internet access to rural areas of the island, with the infrastructure to be built as a public private partnership, an official said.Sri Lanka Telecom, the island’s largest fixed access firm has been laying fibre optic ring around the capital […]
Sri Lanka steps up air attacks against Tigers: military
September 7, 2008 (AFP) – Sri Lankan war planes and helicopter gunships pounded suspected Tamil Tiger bases in northern Sri Lanka on Sunday, the defence ministry said. Both sides admitted heavy losses in ground battles last week. Fighter jets attacked a training camp of the Liberation Tigers of Tamil Eelam (LTTE) at Mankulam, just south […]
Kuwait says no need for oil output cut
KUWAIT CITY, September 8, 2008 (AFP) – Kuwait’s Oil Minister Mohammad Al-Olaim said on Monday as he left for an OPEC meeting that he saw no need to cut the cartel’s oil production.New York’s main contract, light sweet crude for delivery in October, rose 65 cents to 106.88 dollars a barrel in electronic deals while […]
Singapore Airlines says to cut fuel surcharges
SINGAPORE, September 8, 2008 (AFP) – Singapore Airlines (SIA) said Monday it will cut fuel surcharges on some of its international flights after recent declines in jet fuel prices. The cuts, ranging from four to 10 US dollars, will take effect Tuesday and apply to flights from Singapore to Southeast Asian countries, Australia, New Zealand […]
OPEC struggles with falling oil prices, as bubble deflates
VIENNA, September 7, 2008 (AFP) – The question facing the OPEC oil producer group which meets Tuesday is when, not if, to cut its oil production target as crude prices slide in the face of weakening economic growth, analysts say. Most analysts surveyed by AFP expect the 13-nation cartel to agree to trim its output […]
US takes over Fannie, Freddie in bid to ease finance crisis
WASHINGTON, September 7, 2008 (AFP) – The US government took over ailing mortgage giants Fannie Mae and Freddie Mac on Sunday and placed them in a “conservatorship” in a bid to avert a financial system meltdown from the housing crisis. Treasury Secretary Henry Paulson announced the US regulator was seizing control of the government-chartered, shareholder-owned […]
Bunker Deadline
Sept 08, 2008 (LBO) – Sri Lanka’s Supreme Court has given the bunkering unit of John Keells Holdings (JKH) till September 12 to vacate a tank farm, and the company has been ordered to pay compensation to workers, lawyers said. LMS earlier sought and received time till September 10 to take away its oil stocks […]
Sri Lanka prosperity index find wide divisions and gains
Sept 08, 2008 (LBO) – Sri Lanka’s most prosperous conditions are found in the Western province followed by the central and southern province, while the Northern province trails behind, an index devised by the Central Bank has found. Officials say the index goes beyond traditional measures like economic growth to find out what makes people […]
Lending Trends
Sept 07, 2008 (LBO) – Sri Lanka’s Union Bank has reported strong loan growth in the six months ending June 30, bucking the industry trend, although net profit fell marginally, according to published results and a bank statement. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Performing […]
Pathbreakers II
Sept 07, 2008 (LBO) – Sri Lanka’s educational reality series, Pathbreakers by ETV has planned its second season named ‘Aspirations Conquest’ with a tie up with Aspirations Education centre, the organizers said. The show will consist of 11 episodes that will telecast over the months of October, November and December in the year 2008. In […]