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Flat Profits
July 26, 2007 (LBO) – Dialog Telekom, Sri Lanka’s largest celco saw consolidated net profits dip by a marginal 3 percent in the June quarter as start-up costs of a new pay TV division dragged the group bottom line down. “DBN will expand its fixed wireless operation into four more districts including Colombo, during the […]
Indonesia issues tsunami alert after 6.6-magnitude quake
JAKARTA, July 26, 2007 (AFP) – Indonesian authorities issued a tsunami warning Thursday for the province of North Maluku after a 6.6-magnitude quake hit the area, a meteorology official said.The earthquake was centered 57 kilometres (35 miles) under the seabed some 234 kilometres northwest of the town of Ternate, the capital of North Maluku, said […]
‘s upgrades China, Hong Kong, Macau ratings
HONG KONG, July 26, 2007 (AFP) – International ratings agency Moody’s Investors Service said Thursday it has upgraded its currency ratings for China, Hong Kong and the gambling haven of Macau.It has raised China’s long-term foreign currency bond rating to “A1” from “A2” on the back of the exceptional strength of its external payments position, […]
May to July in Britain wettest since 1776
LONDON, July 26, 2007 (AFP) – The three-month period from May to July has already become the wettest in history here, even before the end of the month, Britain’s Met Office said Thursday.Figures released by the weather forecasting agency showed that 387.6 millimetres (15.3 inches) of rain has fallen across England and Wales, the most […]
New Zealand central bank lifts interest rates
WELLINGTON, July 26, 2007 (AFP) – New Zealand’s central bank raised interest rates Thursday for the fourth successive time this year due to sustained inflationary pressures.“But easing is going to be a considerable time away unless the economy softens very rapidly.” Reserve Bank of New Zealand Governor Alan Bollard raised the official cash rate (OCR) […]
Sri Lanka to host Asian Rugby tournament
COLOMBO, July 26, 2007 (AFP) – Sri Lanka has been confirmed as host of the Asian Rugby championship in November after the world governing body was assured of the players’ safety, a top official said on Thursday.Dilroy Fernando, the chief executive officer of the Sri Lanka Rugby Football Union, said the International Rugby Board (IRB) […]
Sri Lanka opposition groups in protest rally
July 26, 2007 (AFP) – Thousands of opposition activists and ruling party dissidents took to the streets of the Sri Lankan capital Thursday in protest against human rights violations and high living costs.Supporters of the main opposition United National Party and a group of ruling party dissidents led by former foreign minister Mangala Samaraweera marched […]
Sri Lanka court allows appeal against eviction of Tamils
July 26, 2007 (AFP) – Sri Lanka’s Supreme Court said on Thursday it would hear an appeal challenging the eviction of nearly 400 minority ethnic Tamils from Colombo by authorities in an anti-rebel drive.The court fixed a formal hearing for November. The three-judge bench granted “leave to proceed” in a case filed against the police […]
Sri Lanka to appoint joint mangers for sovereign bond
July 26, 2007 (LBO) – Sri Lanka would choose more than one lead manager to the upcoming sovereign bond issue, with evaluations of bids to begin soon after a beauty parade ends this Friday, Central Bank Governor Nivard Cabraal said. “We want to increase Sri Lanka’s reach to a broader spread of investors,” Cabraal told […]
Sri Lanka foreign reserve outflow under control: Central Bank
July 26, 2007 (LBO) – Sri Lanka’s balance of payments is under control despite the steady loss of foreign reserves in the past few weeks and the rupee coming under pressure, Central Bank officials said. The country has been losing foreign reserves since April when international reserves peaked in the wake of tight monetary policy […]