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November 30, 2006 (LBO) – Tough regulations are stifling growth of Sri Lanka’s cable and satellite television industry, a local research firm says, but is poised to take off as new and larger players’ lower costs and improve choice. Sri Lanka’s current penetration of satellite and cable channels is less than one percent of the […]
Thailand, US deploy first tsunami warning buoy in Indian Ocean
PHUKET, Thailand, Dec 1, 2006 (AFP) – Thai and US officials Friday sent off a ship carrying a tsunami warning device designed to protect millions of people around the Indian Ocean from a repeat of the catastrophe two years ago. Some 220,000 people in a dozen countries were killed by a tsunami that hit off […]
Sri Lanka defence secretary survive suicide blast
COLOMBO, Dec 1, 2006 (AFP) – The brother of Sri Lanka’s president narrowly escaped Friday when a suspected Tamil rebel suicide bomber blew himself up in the heart of Colombo, killing at least one soldier, police said.In all, more than 60,000 people have been killed in the island’s separatist campaign since 1972. Updated Gotabaye Rajapakse, […]
Sri Lanka defence secretary escapes assassination bid
December 31, (LBO) – Sri Lanka’s defence secretary, Gotabhaya Rajapakse, the brother of the country’s president had escaped a suicide assassination attempt, officials said.The blast had killed at least one person and injured 14 others, police said.The convoy of Defence Secretary Gotabhaya Rajapakse had been targetted in the morning blast near the Citi Bank branch […]
Blast in Colombo, Sri Lanka
December 01, (LBO) – Sri Lanka’s defence secretary has escaped a suicide assassination bid, the centre for national security said.Lakshaman Hulugalle, head of the national centre for media told the state television that the convoy of Defence Secretary Gotabhaya Rajapakse, the brother of Sri Lankan president Mahinda Rajapakse had been targetted. At least one security […]
Sri Lanka micro lenders on rating watch over merger move with 30-pct dud loan state bank
December 01 (LBO) – Six Sri Lankan regional development banks were put on a ratings watch on Friday, rating agency Fitch Lanka said, following government plans to merge with a newly set up state bank with 30 percent dud loans. Fitch intends to resolve the Rating Watches within a period of six to nine months […]
‘s tea companies warn of millions in losses due to trade union action
Nov 30, 2006 (LBO) – Sri Lanka’s plantation companies warned Thursday of millions of rupees in losses due to trade union action on estates, as wage talks reach breaking point. Sri Lanka has over 250,000 estate workers, with the island among the world’s top producers’ at over 300 million kilos of black tea produced a year. […]
Potential Problem
Nov 30, 2006 (LBO) – Estimated 5.5 to six million people in South Asia is infected with AIDS which have become a severe epidemic but the HIV epidemic remains at a low level in Sri Lanka, the World Bank said Thursday. South Asia is a heterogeneous and highly mobile region the report says, where most […]
Zimbabwe finance minister predicts growth, inflation fall
HARARE, Nov 30, 2006 (AFP) – Zimbabwe’s finance minister predicted Thursday marginal economic growth in the coming year and that the country’s four-figure inflation rate would dip to 350 percent as he presented the budget for 2007. “The economy is expected to grow marginally by between 0.5 percent and one percent in 2007,” Herbert Murerwa […]
Indian economy grows faster than expected, sparks interest rate concerns
NEW DELHI, Nov 30, 2006 (AFP) – India’s economy grew a faster-than-expected 9.2 percent in the second quarter to September, official data showed Thursday, prompting concerns that overheating will require higher interest rates.The Indian rupee weakened Wednesday against the dollar to 44.74 from 44.65 after the data was announced, and strengthened against the euro to […]