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Sri Lanka to hold aid parley in Dec; asks donors to fund mega projects
July 28, 2006 (LBO) – Sri Lanka is asking donors to concentrate on helping to build mega infrastructure projects, when the annual aid parley meets in December, treasury secretary P B Jayasundara said. The government wants lenders to channel more money to build roads instead of issuing warning signals about a faltering peace process and […]
Trade Freeze
GENEVA, July 27, 2006 (AFP) – World Trade Organisation nations endorsed on Thursday suspension of free-trade negotiations after they collapsed on Monday, diplomats and trade officials said. Several countries attacked the so-called G6 of leading trading powers for refusing concessions to open the way for a treaty and said that progress made so far must […]
Tsunami Alert
JAKARTA, July 27, 2006 (AFP) – Indonesian officials said Thursday they plan to install sirens on mobile phone towers to alert coastal areas to potential tsunamis, following a second killer wave in the archipelago nation in as many years. Installation of the sirens will be completed by the end of 2006, said Paryatmoko, tsunami early […]
Turbo Charge
July 27, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Thursday posted a 43 percent increase in net profits for the six months to June, as subscriber growth lifted revenues. A unit of Telekom Malaysia, Dialog Telekom, reported a 4.93 billion rupee group net profit, while revenues soared 51 percent to 12.28 […]
Airlines must look at alternative fuels to boost efficiency: IATA
GENEVA, July 27, 2006 (AFP) – Airlines must adapt to high oil prices and explore changes such as alternative fuels to regain profitability despite a 6.7 percent growth in passenger traffic during the first half of 2006, the top industry association said Thursday.Airlines are still battling for financial prosperity despite growing revenues and better load […]
Sri Lanka warplanes bomb Tiger airfield
COLOMBO, July 27, 2006 (AFP) – Sri Lankan warplanes bombed a clandestine airfield being built by Tamil Tiger rebels Thursday, the second day of bombardment against the guerrillas, the defence ministry said. The rebel Liberation Tigers of Tamil Eelam (LTTE) had cleared a jungle patch just north of the district of Trincomalee and were building […]
Sri Lanka warplanes bomb Tiger rebels for second day
July 27, 2006 (AFP) – Warplanes bombed suspected Tamil Tiger positions in northeast Sri Lanka on Thursday for a second day after the rebels allegedly blocked an irrigation canal, a military official said.“The bombing raids were over the northeastern region,” the military official said, adding that three Israeli-built Kfir jets were used in the offensive […]
Back to Mommy
July 27, 2006 (LBO) – Sri Lanka’s cabinet has transferred a third of petroleum assets held by the treasury to the state-run Ceylon Petroleum Corp, with immediate effect, government spokesman Anura Yapa said Thursday. Under the cabinet decision, around 3,500 CPSTL staff will rejoin the CPC workforce. The assets — which comprises 107 fuel sheds […]
Fitch upgrades People’s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
Fitch upgrades Nations Trust Bank to ‘A(lka)’
July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]