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Cash Cow
June 7, 2006 (LBO) – Private fixed line operators are among the few trying to lay their hands on the fifth mobile phone license which has come up for grabs in Sri Lanka, industry sources said. Sri Lanka’s Telecommunications Regulatory Commission (TRC) Monday invited local and foreign companies with experience in third generation technology to […]
Five killed in Sri Lanka army attack: rebels
June 7, 2006 (AFP) – Suspected government troops carried out a bomb attack inside rebel-held territory Wednesday, killing at least five civilians and wounding 14, Tiger guerrillas said. The rebel Liberation Tigers of Tamil Eelam (LTTE) said government troops had carried out the bomb attack against a vehicle transporting civilians. “This is the largest attack […]
Sri Lanka steps up security ahead of Oslo talks
June 7, 2006 (AFP) – Sri Lanka has stepped up security after bomb blasts near the capital raised fears of more attacks, police said Wednesday, as the warring parties prepared for a face-to-face meeting in Oslo. A truce was put in place in February 2002, but an upsurge in violence has claimed at least 650 […]
Fitch rates Ceylease ‘BBB-(lka)’; asks to beef up capital
June 6, 2006 (LBO) – Sri Lanka’s Ceylease Financial Services – a unit of Bank of Ceylon – needs to pump up its capital to support their low income base and future provisional charges, Fitch Ratings Lanka warned Tuesday. Fitch, which assigned a ‘BBB-(lka)’ rating to Ceylease, says the credit rating reflects the firm’s parental […]
Missing fingers, toes highlight Asia’s human trafficking woes
WASHINGTON, June 6, 2006 (AFP) – The shattered dream of an Indonesian domestic maid, who lost her fingers and toes, following torture by her employer in the Middle East is being used by the US State Department to illustrate the seriousness of the human trafficking problem. Nour Miyatis dream was simple: To provide a brighter […]
”; asks to beef up capital
June 6, 2006 (LBO) – Sri Lanka’s Ceylease Financial Services – a unit of Bank of Ceylon – needs to pump up its capital to support their low income base and future provisional charges, Fitch Ratings Lanka warned Tuesday. Fitch, which assigned a ‘BBB-(lka)’ rating to Ceylease, says the credit rating reflects the firm’s parental […]
Facelift
The newly re-constituted Strategic Enterprises Management Agency (SEMA) says it is reviewing all state institutions under its management and developing action plans to make them profitable. It’s really a burden to the government, the treasury, and to the people of this country. SEMA will guide these State Owned Enterprises (SOEs) to be profitable ventures, says […]
Against Odds
June 6, 2006 (LBO) – Diversified Hemas Holdings Ltd Tuesday posted a 16 percent growth in full-year profits for the year ended March 31, 2006, boosted by strong earnings in power, consumer products and transport. Hemas a family controlled conglomerate core business lies in health and personalcare products, power generation, leisure and transport. HEMAS HOLDINGS […]
Big Bucks
BANGALORE, India, June 6, 2006 (AFP) – US technology giant IBM said Tuesday it will triple its investments in India to six billion dollars over the next three years, recognising India’s dominance in the global outsourcing industry. “In the next three years, we will triple our investments in India from two billion dollars over the […]
Thailand waives fees to attract budget carriers to new airport
BANGKOK, June 6, 2006 (AFP) – Thailand is offering to waive landing fees at Bangkok’s new international airport to attract low-cost airlines to the facility which is expected to open in late September, officials said Tuesday. Thailand’s civil aviation chief Chaisak Angsuwan said budget carriers could begin running test flights with some passengers at the […]