Author: lbostgadmin
‘s new army chief vows to re-focus military
July 15, 2009 (AFP) – Sri Lanka’s new army chief took up his post Wednesday vowing to “re-motivate” his 200,000-strong force and build a peacetime military following the crushing of Tamil Tiger rebels.Lieutenant General Jagath Jayasuriya, 50, said his first priority would be the military’s new role in supporting a massive reconstruction effort in areas […]
Sri Lanka cancels US$200mn in arms deals
July 15, 2009 (LBO) – Sri Lanka has cancelled orders for 200 million US dollars of military hardware and ammunition from China, after a 30-year war with Tamil Tiger separatists ended, a top official said.Fonseka said soldiers in areas like northern Jaffna found it difficult to take leave at the current strength. “If we want […]
Cheap housing offers lifeline to Indian developers
NEW DELHI, July 15, 2009 (AFP) – “No frills, Simple homes” reads the banner hanging in the Delhi headquarters of Unitech, India’s leading property developer.It’s a mantra that has been taken up by realtors across the country with a new-found passion for affordable housing that owes little to their social conscience and everything to their […]
Network Move
July 15, 2009 (LBO) – Aepona, a global provider of telecoms software products and services headquartered in Belfast, Northern Ireland, said it has bought Valista, and will expand operations in Sri Lanka. It enables mobile and broadband operators to treat their network and informational assets as marketable resources that can be made available to third […]
Virgin Market
July 15, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) said it has launched its Bangladesh joint venture investment bank, NDB Capital Limited, positioning the group to be able to expand in a bigger market. “It’s a virgin market where professional investment banking services are currently not available,” Vajira Kulatilaka, chief executive of NDB […]
Sri Lankan shares volumes lifted by Com Bank deal
July 15, 2009 (LBO) – Sri Lankan stocks closed up on Wednesday as foreign interest on blue chip Commercial Bank boosted trade volumes, brokers said. National Development Bank closed at 155.75 rupees, down 1.25, while Hatton National Bank closed at 117.25 rupees, up 1.25. Hulangamuwa said the return of institutional and foreign investors would depend […]
Sri Lankan Treasuries yields fall
July 15, 2009 (LBO) – The 3-month Treasury bill yield fell 23 basis points to 11.05 percent at Wednesday’s auction, amid record excess liquidity in the banking system of 28 billion rupees. The government sold 2.5 billion rupees of 3-month bills, 3.1 billion rupees of 6-month bills and 4.8 billion rupees of 12-month bills. The […]
Pakistan in deep trouble after batting collapse
July 14, 2009 (AFP) – Sri Lanka engineered a spectacular Pakistan batting collapse on the third day to wrest control of the second Test at the P. Sara Oval here on Tuesday. The last three batsmen were leg-before in quick succession. The dramatic collapse undid Pakistan’s remarkable fightback in the match after they were shot […]
Sri Lanka win Test series after Pakistan cave in
July 14, 2009 (AFP) – Sri Lanka clinched their first home series against Pakistan after the temperamental tourists suffered a spectacular collapse in the second Test here on Tuesday.Pakistan, sitting pretty at 285-1 just before lunch on the third day, crashed to 320 all out after the break to leave Sri Lanka a victory target […]
Sri Lankan businesses warned of growing trade fraud
July 14, 2009 (LBO) – An international expert has warned Sri Lanka businesses to be more careful of their overseas partners and do background checks as trade fraud and risks grow in the wake of the global financial crisis. Companies engaged in international trade should not rely solely on banks to check the authenticity of […]
Sri Lankan Airlines in new freight handling and tracking system
July 14, 2009 (LBO) – Sri Lankan Airlines has upgraded to SkyChain, cargo handling and tracking system from Dubai-based Mercator, the airline said.“SkyChain is a web-based system that allows our customers the facility to monitor the progress of their consignments around the world from wherever there is internet accessibility,” Sri Lanka’s head of worldwide sales […]
Cyber War
July 14, 2009 (AFP) – A media rights organisation on Tuesday accused Sri Lankan authorities of blocking access to websites critical of the government and stifling dissent.The Paris-based Reporters without Borders, RSF, said Sri Lanka most recently blocked a site for reporting alleged incidents inside a camp for civilians displaced by the war with Tamil […]