Author: lbostgadmin
US alerts travelers to threats of attacks in India
WASHINGTON, December 29, 2009 (AFP) – The United States published an alert Tuesday for Americans traveling to India, saying Washington continues receiving reports that militant groups may be plotting attacks in that country.The US State Department on December 9 alerted travelers to possible violence in India’s strife-torn Andhra Pradesh region but did not mention, as […]
Broadband Probe
Dec 30, 2009 (LBO) – Sri Lanka’s telecom regulator has begun investigations on broadband speeds advertised by telcos after a private research study found them exaggerating available bandwidth to surfers, a senior official said. Sri Lankan telcos deliver 75 percent of advertised speeds in the last mile of the network. LIRNEAsia said broadband providers in […]
Sri Lanka cuts lending rate for farmers ahead of polls
Dec 30, 2009 (LBO) – Sri Lanka™s Central Bank said it will slash lending rates for farmers with effect from January 1, 2010 barely a month ahead of crucial presidential elections. Total loans amounting to about 10 billion rupees are disbursed each year under this loan scheme. Under the Agro Livestock Development Loan Scheme the […]
Sri Lankan shares close up 0.86-pct
Dec 30, 2009 (LBO) – Sri Lankan shares ended an eventful 2009 at a record high of 3,385.55 points, up 0.86 percent (28.96 points) Wednesday, and up 128 percent for the year, outperforming all other exchanges except Russia, brokers said.Hatton National Bank closed at 170.25 rupees, up 2.25, Sampath Bank closed at 204.25 rupees, up […]
Fuel Cost
Dec 29, 2009 (LBO) – Sri Lanka’s state-owned refiner, the Ceylon Petroleum Corporation, said it will cut fuel prices from midnight Tuesday. It said in a statement that the price of a litre of 90 Octane petrol will be reduced to 115 rupees from 130 rupees now while 95 octane petrol will be sold at […]
‘s 3G auction set for further delay
NEW DELHI, December 29, 2009 (AFP) – India’s long-awaited auction for third generation (3G) mobile telecom services has been delayed again and will miss a January 14 deadline, officials said Tuesday.“It will obviously not be on January 14. We will announce it (a new date for the auction) soon on our website,” an official in […]
Slow Connections
Dec 29, 2009 (LBO) – Sri Lanka is the most uncertain market among South Asian countries for new telcos, while Pakistan has the most transparent process for entry and spectrum, despite high fees, a study has found.“Pakistan is the most expensive to enter in South Asia, but it’s the most transparent,” Helani Galpaya, chief operating […]
Sri Lanka draws more cruise ships
Dec 29, 2009 (LBO) – The Sri Lanka Ports Authority said the cruise ship ˜Discovery’ of the Voyages of Discovery cruise line called at Colombo port as part of a cruise tourism revival with the end of the island’s ethnic war. The cruise line is now owned by UK-based All Leisure Group which is also […]
Taking Care
Dec 29, 2009 (LBO) –Sri Lanka’s government must ensure adequate funding for road maintenance to prevent newly built and repaired roads deteriorating to previous levels, the Asian Development Bank has said. The bank, which has spent millions of dollars on roads in the island, said in a report its Road Sector Development Project (RSDP) had […]
Sri Lankan shares close up 0.57-pct
Dec 29, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors bought further into high net worth counters before year end, while brokers said the current positive sentiment would generate further buying interest in 2010. The Colombo all share price index (ASPI) ended at 3,363.81, up 0.57 percent (18.92 points) while the more […]
Sri Lanka Treasuries yields move up
Dec 29, 2009 (LBO) – Sri Lanka’s Treasuries yields edged up marginally across maturities at Tuesday’s auction, while the rollover was oversubscribed two times, the government’s debt office said.The short term paper received bids worth 17,285 million rupees at the auction, it said. The 3-month yield rose 06 basis points to 7.73 percent, the 6-month […]
Sri Lanka gets World Bank funds for rural village
Dec 28, 2009 (LBO) – The World Bank (WB) has approved 75 million dollars to fund the second stage of community development and livelihood improvement targeting 875 of the poorest villages in the country, a government minister said. The community development project would be implemented under the Ministry of Nation Building and Estate Infrastructure Development, […]