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Maldives blast wounds 12 tourists
Sept 29, 2007 (AFP) – A home-made bomb ripped through a crowded park in the Maldivian capital Male Saturday, wounding 12 foreign nationals, tourism minister Mahamood Shougee told AFP.Since then, Britain had been helping the government and opposition groups sink their differences and work towards democratic reforms.Two Britons, two Japanese and eight Chinese were wounded […]
IMF tells Zimbabwe central bank not to print money for businesses
GABORONE, Sept 27, 2007 (AFP) – The IMF will continue to shun Zimbabwe until its central bank stops meddling and the government starts managing its natural resources properly, a senior official said on Thursday. “Zimbabwe must put in place the proper economic policies and gradually they will see the IMF coming on board,” International Monetary […]
Bell smashes century in England Sri Lanka warm up
Sept 28, 2007 (AFP) – Ian Bell warmed up for the upcoming one-day series against Sri Lanka with an unbeaten century as England posted an 80-run victory in a practice match here on Friday.Bell smashed four sixes and 12 fours in his 121-ball 131 not out to help England reach 314-4 against a Sri Lanka […]
Sri Lankan stocks tumble after opening higher, markets await rate decision
Sept 28, 2007 (LBO) – Sri Lankan stocks tumbled soon after opening with brokers saying investors were largely inactive, as markets awaited a money policy announcement later in the day.There was only 43 million rupees turnover on the Colombo bourse around mid-morning with the All Share Price Index down 4.91 points or 0.19 percent and […]
Breakwater Contract
Sept 28, 2007 (LBO) – Sri Lanka has picked Hyundai, a Korean firm, to build a breakwater in Colombo that will allow terminal operators to nearly double the container handling capacity at the Port, an official said. The 320 million dollar contract will be awarded to Hyundai if Asian Development Bank, the concessional lender to […]
Cargo Logistics
Sept 27, 2007 (LBO) – Sri Lanka’s Hayleys conglomerate Thursday announced a new brand for its supply chain management business saying it wanted to expand in the Asia-Pacific market and had opened new offices in India and the USA. The group’s cargo logistics services will now be sold under the ‘Civaro’ brand which will bring […]
No Rules
Sept 28, 2007 (LBO) – Sri Lankan shippers complain of government inaction in bringing anti-price fixing rules for shipping while India is moving against shipping lines accused of acting like cartels. The Shippers’ Council said they have now been forced to take court action to prod the government into action. “India is taking steps to […]
Ancient Wisdom
Sept 28, 2007 (LBO) – Five traits described in Buddhism which do not help achieve goals in life are also well suited for business and management, a top Sri Lankan management professional said. Restlessness, arrogance, procrastination, indulgence and doubt are traits that cloud one’s mind and judgment when trying to achieve goals. “These five are […]
Cell Value
Sept 28, 2007 (LBO) – Sri Lanka’s Dialog Telekom celco’s Malaysian parent, Telekom Malaysia, has announced the spin off of its mobile phone business into a separate firm to realize its full value and focus on expansion, news reports said Friday. The new unit, TM International, worth 8.2 billion dollars, would be the holding company […]
Last Lap
Sept 28, 2007 (LBO) – India’s Mahanagar Telephone Nigan Limited (MTNL) has submitted a bid over 100 million US dollars for the Sri Lankan telco Suntel, press reports from India said. A Press Trust of India report said a decision on the bid is expected within two weeks. Suntel, owned by Sweden’s Telia, runs a […]