All Blogs
Multi-media age finally dawns, media bosses say
CANNES, France, Oct 13, 2006 (AFP) – After years of eager anticipation and a lot of talk, the multi-media age has finally dawned and a string of breakthrough deals at this week’s largest ever MIPCOM audiovisual trade show will send it on its way around the world.That was the message from the entire line-up of […]
Microcredit offers millions way out of poverty in Bangladesh
DHAKA, Oct 13, 2006 (AFP) – Nearly three decades after Nobel prize winner Muhammad Yunus launched the pioneering Grameen Bank, giving small loans to the poor, microcredit is hailed for helping more than five million Bangladeshis. Grameen began life in 1976 as a pilot project run by Yunus, a professor of rural economics at Chittagong […]
‘s biggest no-frills carrier raises 100 million dollars
BANGALORE, India, Oct 13, 2006 (AFP) – India’s biggest low-cost airline, Air Deccan, said Friday it has raised 4.5 billion rupees (100 million dollars) from two foreign banks to tide it over a financial crisis.G.R. Gopinath, Managing Director of Air Deccan, said the deal with British-based Banks Investec Bank and Germany’s Billon and HSH Nord […]
‘s Muhammad Yunus and Grameen Bank
OSLO, Oct 13, 2006 (AFP) – The Nobel Peace Prize was awarded on Friday to Muhammad Yunus of Bangladesh and the Grameen Bank which offers loans to poor people without any financial security. “Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such […]
New front opens in Sri Lanka after big military losses
VAVUNIYA, Sri Lanka, Oct 13, 2006 (AFP) – Sri Lanka’s military and the Tamil rebels opened a new front in the east after a fierce battle in the north killed 130 soldiers, casting a shadow over peace talks later this month. More than 60,000 people have been killed in the three-decades-old conflict. Troops and the […]
‘s Central Bank freezes key interest rates
October 12, 2006 (LBO) – Sri Lanka’s central bank held rates steady at its October monthly monetary meeting, two weeks after an ad hoc rate rise of 50 basis points. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, will remain at 11.125 percent. The short-term repurchase rate at […]
Bargain Fares
Oct 12 (LBO) – Dubai based Emirates Airlines is offering a bargain single fare for Sri Lankan leisure seekers and businessmen flying to Europe this winter season. Travelers flying from Colombo to 20 destinations in Europe can buy a four month, economy class return ticket for 50,000 rupees (500 dollars), excluding taxes and fuel surcharges, […]
Banking Ed
Oct 12 2006 (LBO) – The Institute of Bankers of Sri Lanka (IBSL) will award more than 600 student members certificates at the eleventh convocation with students flocking to qualify as bankers, officials say. The only institute that is empowered by an Act of parliament to provide banking training in Sri Lanka has over 9,000 […]
’s Box
October 12, 2006 (LBO) – Sampath Bank may be a possible takeover target once again, when the small bank moves to amend its articles and allow a single shareholder to own a bigger stake, an equity research report said Thursday. Sampath has no controlling shareholder, but businessmen Dammika Perera and his related companies control around […]
Got Milk?
Oct 12, 2006 (LBO) – Sri Lanka has relaxed earlier moves to ban milk powder advertising, instead regulating branded milk adverts so that liquid milk gets adequate airtime. Cabinet spokesperson and media minister Anura Yapa said Thursday that the government had agreed to regulate advertising of branded powder milk. This includes a mandatory slogan promoting […]