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Telecom operator Suntel, has launched a broadband internet card aimed at laptop users who opt for high bandwidth connectivity, the firm said Monday. Telecom operator Suntel, has launched a broadband internet card aimed at laptop users who opt for high bandwidth connectivity, the firm said Monday. The private wireless local loop operator is using CDMA […]
Sri Lanka vows tough line on terror as violence rises
Sri Lanka’s president Monday vowed tough measures to prevent “terror attacks” that undermine an already troubled ceasefire with Tamil Tiger rebels as officials reported three more deaths in the embattled east.Sri Lanka’s president Monday vowed tough measures to prevent “terror attacks” that undermine an already troubled ceasefire with Tamil Tiger rebels as officials reported three […]
Sri Lanka’s Central Bank Governor denies resignation rumours
Sri Lanka’s central bank governor Sunday denied news reports that he has been asked to make way for senior presidential advisor Nivard Cabraal. Sri Lanka’s central bank governor Sunday denied news reports that he has been asked to make way for senior presidential advisor Nivard Cabraal. The report claimed that Governor Sunil Mendis, who is […]
A Shot in the Arm
People’s Bank got Rs. 2 billion cash injection from the government last week.People’s Bank got Rs. 2 billion cash injection from the government last week. It was the start of the bank’s third recapitalization exercise and the first time it had a cash injection. On previous two occasions the government put non-tradable bonds to strengthen […]
Falling Short
Revenue projections for last year will be missed although total government revenue is 19 percent higher in the first 11 months of the last year.Revenue projections for last year will be missed although total government revenue is 19 percent higher in the first 11 months of the last year. However, cashflow difficulties were forcing the […]
Sinking
Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day.Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day. Monopoly electricity supplier the CEB is selling power […]
Red Bottom
Shell Gas Lanka Ltd, a unit of Royal/Dutch Shell Group, warned Sunday that gas supplies may stop because company losses ballooned to Rs.742 million after the authorities resisted calls for a retail price increase.Shell Gas Lanka Ltd, a unit of Royal/Dutch Shell Group, warned Sunday that gas supplies may stop because company losses ballooned to […]
BOI aims for record foreign investment flows
Government’s investment promotion agency is gunning for fivefold growth in investment flows this year but it is not sure where the money is going to come from.Government’s investment promotion agency is gunning for fivefold growth in investment flows this year but it is not sure where the money is going to come from. Investment Promotions […]
Sri Lanka navy bans night fishing, searches for sunken gunboat
Sri Lanka’s navy banned night fishing on Sunday near a northeastern port, while it searched for the bodies of 15 crewmen killed when their gunboat was destroyed in a suicide bombing by suspected Tiger rebels.Sri Lanka’s navy banned night fishing on Sunday near a northeastern port, while it searched for the bodies of 15 crewmen […]
Sri Lanka peace hopes hit by gunboat sinking
A suicide attack that sank a Sri Lankan navy gunboat has cast a new shadow over the island’s fading peace hopes but an immediate return to war is unlikely, analysts and diplomats said Sunday. A suicide attack that sank a Sri Lankan navy gunboat has cast a new shadow over the island’s fading peace hopes […]