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In Tune
CANNES, France, Jan 22, 2007 (AFP) – Music fans, watch out. The hot new music-enabled phones being launched by top cellphone makers are going head-on with the stand-alone MP3 players that are now a way of life for the millions who prefer them over an Apple iPod. Key entertainment industry player Brad Duea, who heads […]
Conservationists meet to avert feared tuna extinction
TOKYO, Jan 22, 2007 (AFP) – International tuna conservation bodies Monday opened their first joint meeting to look at ways to save the animals from overfishing, which environmentalists fear is driving them to extinction.The five-day meeting in the western Japanese city of Kobe will look at ways to share information among regions to monitor tuna […]
Toyota plans ultra-inexpensive car: report
TOKYO, Jan 22, 2007 (AFP) – Toyota Motor Corp. plans to build a low-cost car undercutting Renault’s emerging-market Logan through a “radical” rethink in design and production, the president of the fast-growing Japanese automaker said. “The focus is on low-cost technology,” Toyota president Katsuaki Watanabe told Britain’s Financial Times newspaper in an interview published Monday. […]
Violence claims 10 lives in Sri Lanka
COLOMBO, Jan 22, 2007 (AFP) – Tamil Tiger rebels shot dead two soldiers and two policemen in Sri Lanka’s embattled northeast as security forces dug in at a town seized from the guerrillas, the defence ministry said Monday.The two soldiers were shot on Sunday night in the eastern district of Batticaloa, where troops captured the […]
Indonesian wounded in Sri Lanka ship attack
Jan 22, 2007 (AFP) – An Indonesian chief engineer was wounded in a suspected suicide bombing of a cargo vessel off Sri Lanka’s northern coast, a spokesman for the ship’s owners said Monday.The merchant vessel, the MV City of Liverpool, was attacked off the Jaffna peninsula late Sunday by Tamil Tiger suicide bombers, according to […]
Sri Lanka rubber prices up; considerable profits despite recent wage hike
Jan 22, 2007 (LBO) – Plantation companies are likely to post sizeable profits this year, though a recent wage hike will eat into earnings, analysts say. The price of a kilo of rubber, which was at 175 rupees in November, has crept up steadily to 190 rupees this January. Rubber prices moved up on top […]
Sri Lanka amends law to attract foreingn investors to buy sovereign bonds
January 19, 2007 (LBO) – Sri Lanka plans to amend laws allowing foreigners to invest in government bonds, as they are too restrictive to overseas investors, the island’s treasury secretary said. The government opened five percent of the treasury bond market last November allowing overseas investors to buy rupee-denominated sovereign debt carrying tenures of two-years […]
Tight Control
Sri Lanka limited Friday the ownership of banks to prevent individuals or groups making hostile takeover bids that could destabilise the country’s small financial market. The Central Bank of Sri Lanka said an investor will be allowed to hold a maximum of 15 percent equity of any commercial bank and those who own more than […]
Switching Channels
January 19, 2007 (LBO) – Sri Lanka plans to abort contracts of greenfield radio station operators and instead offer them to new investors, in a crowded market that currently has around 30 channels, the Secretary to the Media Ministry said. “Around five to six investors have got the license, some have secured the frequencies but […]
Sri Lanka troops take Tiger town
Jan 19, 2007 (AFP) – Sri Lankan security forces Friday captured the main rebel stronghold in the island’s embattled eastern province after weeks of heavy fighting, the defence ministry said.z The Liberation Tigers of Tamil Eelam (LTTE) fled the town of Vakarai in the face of the military advance, the defence ministry said in a […]