Author: lbostgadmin
Tough Market
Jan 12, 2008 (LBO) – India’s Bharti Airtel launched services in Sri Lanka with simplified tariff plans in an extremely competitive market of four existing players that has seen steep falls in prices ahead of the fifth celco’s entry. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Road Radio
LAS VEGAS, January 12, 2009 (AFP) – German audio equipment maker Blaupunkt and Australia’s miRoamer have teamed up to produce the first Internet car radio, giving drivers access to tens of thousands of Web radio stations.“As for in-car installs, we’ve been inundated with a lot of companies who are interested in this,” he said, declining […]
Wider Reach
Jan 12, 2009 (LBO) – Sri Lankan mobile operator Tigo, a unit of Millicom International Cellular, said it had reached two million subscribers in 2008 after heavy investments to expand its network coverage. The rapid growth in the island’s mobile market has slowed in recent years and increased competition saw all operators lowering prices and […]
Sri Lanka Dialog, cable company shares weaken
Jan 12, 2009 (LBO) – Sri Lanka’s dominant mobile firm Dialog Telekom sank below five rupees on the Colombo bourse Monday as India’s Bharti Airtel entered the market while cable companies fell sharply on news of copper hedging losses at one firm. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Sri Lanka central bank cuts penal rate by 200 basis points to 17%
Jan 12, 2009 (LBO) – Sri Lanka’s central bank said it had cut the rate on its unrestricted discount window by 200 basis points to 17 percent, with immediate effect.Inflation as measured by the year-on-year change in the Colombo Consumers’ Price Index (base=2002), which reached 14.4 per cent by end-2008, is expected to further decelerate […]
Sri Lanka military launches air strikes against retreating Tamil Tigers
January 11, 2009 (AFP) – Sri Lanka’s military launched air attacks against the last remaining jungle hideouts of Tamil Tiger rebels after driving them out of their main strongholds, officials said on Sunday.“The Sri Lankan army has so far captured four airstrips of the LTTE terrorists during the ongoing counter terrorist operations,” the ministry said. […]
India Inc in damage-control mode after billion-dollar fraud scandal
MUMBAI, January 11, 2009 (AFP) – A billion-dollar accounting scandal at one of India’s top outsourcing firms has left the government and financial regulators scrabbling to control the damage.Besides huge losses for investors, the scandal has seriously dented India Inc.‘s reputation for strong corporate governance, often viewed as being a notch above its other Asian […]
Legal Tangle
Jan 11, 2009 (LBO) – The widening fallout on Sri Lanka’s inter bank markets of petroleum derivatives suspended by court took a new turn this week with state-run People’s Bank going to court against privately owned Commercial Bank.People’s Bank won a restraining order from Colombo Commercial High Court against Commercial Bank stopping the private bank […]
” on Tigers
January 10, 2009 (AFP) – Sri Lankan security forces were ready to deal a “decisive blow” to the remaining Tamil Tiger positions following the capture of the highly strategic Elephant Pass, the defence ministry said on Saturday. After four days of fierce fighting, government forces on Friday established full control over Elephant Pass, also known […]
Fiery Baptism
Jan 10, 2009 (LBO) – A former chief executive of Sri Lanka’s Shell gas unit who has turned around Malaysian Airlines has termed his experience in the island as a ‘baptism of fire’. In December 2005 Idris Jala took over state-run Malaysian Airlines, in a year the firm lost 1.3 billion Malysian ringgit. In two […]
EU condemns shooting of Sri Lankan editor
BRUSSELS, January 8, 2009 (AFP) – The European Union condemned Thursday the shooting death of a respected Sri Lankan newspaper editor and expressed concern about media freedoms in the South Asian nation.Wickrematunga, 52, was shot by gunmen on two motorcycles as he drove to work near Colombo. He was rushed to hospital but died after […]
Sri Lanka needs freedom of information for development: World Bank
Jan 09, 2009 (LBO) – Sri Lanka needs freedom of information to develop, and Sri Lanka’s government should hold full and transparent investigations on violence against the media, the World Bank said. “The World Bank urges the Government of Sri Lanka to hold full and transparent investigations of incidents of violence against media,” the World […]