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Sri Lanka looks for investors to raise US$ 100 million
August 31, 2006 (LBO) – Sri Lanka Thursday announced plans to raise another 100 million dollars through a bond issue to pay for ongoing development projects. Prospective investors can send in their applications from Sept 5-12 and those selected have to pay up by Sept 20, the Central Bank said in a public notice. Investors […]
Fine Tuning
Aug 31, 2006 (LBO) – SriLankan Airlines is in talks with regional carriers from India, Pakistan and the Middle East to carry out third party maintenance checks on aircraft, top airline officials said. The national carrier just successfully completed a multiple C check for an Emirates A330-200 aircraft, called the 4C5Y, usually carried out every […]
Half Empty
TOKYO, Aug 31, 2006 (AFP) – The global airline industry is expected to almost halve its losses in 2006 thanks to buoyant economic growth and deep cost cuts, the world’s top airline association said Thursday.The industry is now expected to lose 1.7 billion dollars in 2006, much less than the 3.0 billion loss previously feared […]
‘s tea crop falters in July
August 31, 2006 (LBO) – Sri Lanka’s tea output dipped 5.7 percent for the seven months to July but earned 50.89 million rupees by shipping the brew to overseas buyers over the same period last year, a commodity broker said. Production of Kenya’s largest export crept up 2.9 million kilos to 23.7 million kilos in […]
Just Inquiring
August 31, 2006 (LBO) – Sri Lanka Telecom is in talks to acquire a small software company to beef up its technical capacity and expand revenue streams. The island’s biggest fixed line operator plans to do a due diligence on eServices Lanka Ltd, SLT chief executive Shuhei Anan said Thursday. eServices Lanka Ltd is jointly […]
Bus Ride
SEOUL, Aug 31, 2006 (AFP) – South Korea’s high-tech giant Samsung Electronics on Thursday unveiled the world’s first fourth-generation (4G) mobile technology with a demonstration on a bus.Samsung said the new technology, an upgraded version of existing wireless communications platforms, would enable users to download 100 MP3 music files in less than 3 seconds — […]
Ford wants to sell Aston Martin
DEARBORN, Michigan, Aug 31, 2006 (AFP) – Troubled US auto giant Ford Motor Co. said Thursday it was looking to sell its British sports marque Aston Martin. Chief executive Bill Ford said that as part of its strategic review, the US company had decided that Aston Martin “may be an attractive opportunity to raise capital […]
Sri Lanka demands proof of massacre charges
COLOMBO, Aug 31, 2006 (AFP) – The Sri Lankan government demanded proof Thursday of allegations by Nordic truce monitors that security forces were responsible for the massacre of 17 aid workers of a French charity. “It is premature to blame the government without any supporting evidence,” Sri Lankan government spokesman Keheliya Rambukwella said in Colombo. […]
11,000 Tamils flee to India to escape Sri Lanka fighting
CHENNAI, India, Aug 31, 2006 (AFP) – More than 11,000 Tamil refugees have fled to India since January to escape renewed fighting between the Sri Lankan army and separatist rebels and more are likely to come, officials said Thursday. The figure includes a batch of about 500 refugees who travelled by boat to reach Mandapam […]
Blair meets Sri Lanka leader amid Tamil turmoil
LONDON, Aug 31, 2006 (AFP) – British Prime Minister Tony Blair met Sri Lankan President Mahinda Rajapakse on Thursday for private talks on the political situation in Sri Lanka, a spokeswoman for Blair said.Rajapakse has said he was ready for unconditional talks with the Tigers and described the current military action against the rebels as […]