Author: lbostgadmin
Trendy Oldies
BARCELONA, Spain, Feb 16, 2007 (AFP) – It could be the answer to grandma’s prayers: a mobile phone designed specifically for the over-65s that aims to take the fear out of technology and get the elderly connected.A small Austrian company shrugged off the buzz of innovation and youth-oriented marketing at the 3GSM mobile phone trade […]
Bursting Point
February 16, 2007 (LBO) — SriLankan Airlines says it is running out of cargo space at Colombo’s international airport, while a newly-built facility lies empty over a rent dispute.The issue is likely to remain a sticky point as the government drags its feet to over the renewal of SriLankan’s management agreement with Emirates which is […]
Renewed Deal
February, 15 (LBO) – Sri Lanka is to shortly unveil a new tiered tariff framework for renewable energy suppliers giving existing mini-hydros windfall sweeteners to change-over, officials said. Sri Lanka would be offering cost-based technology-specific and three-tiered tariffs for mini-hydro, biomass and wind energy. Mini-hydro standardized power purchase agreements already signed with the Ceylon Electricity […]
India seizes Tamil rebel boat off southern coast
CHENNAI, India, Feb 15, 2007 (AFP) – India’s coast guard said it had foiled a major attack when it seized a boat belonging to Sri Lanka’s Tamil Tiger rebels packed with weapons, bomb-making chemicals and a “suicide belt.” Officials said five men including a top Liberation Tamil Tigers of Eelam (LTTE) rebel were on the […]
Sri Lanka faces international isolation: ex-foreign minister
COLOMBO, Feb 15, 2007 (AFP) – Sri Lanka faces international isolation for failing to pay close heed to human rights issues, former foreign minister Mangala Samaraweera warned Thursday.He said he was troubled by the renewed violence and a rising number of deaths, as well as a big increase in unsolved kidnappings across the island. “There […]
Britain willing to play bigger peace role in Sri Lanka: minister
COLOMBO, Feb 15, 2007 (AFP) – Britain’s junior foreign minister said here Thursday his country was willing to play a bigger role in bringing peace to Sri Lanka’s long-running ethnic conflict.Kim Howells made the comments at the end of a three-day visit to the former British colony to try to salvage the peace process and […]
IT Aid
Feb 15, 2007 (LBO) – Sri Lanka’s software developers will get cash incentives to develop software that can make small enterprises more efficient, or modernize export industries and tourism, officials said. œThe initial boost provided through these innovation grants will be just the beginning of a much wider involvement both from the government and the […]
Calling Asia
BARCELONA, Spain, Feb 15, 2007 (AFP) – With mobile phone markets nearly saturated in the developed world, network operators and handset manufacturers are turning their attention to the fertile ground of emerging countries. Making affordable phones and targeting consumers with smaller budgets have now become priorities for the largest companies in the sector who were […]
Cutting Duds
February 15 (LBO) – Sri Lanka financial authorities are clamping down on cheque returns with the help of a newly commissioned digital clearing system, officials said. “We have already cut down the proportion of cheques to less than half of what it was,” says Anura de Silva who heads, LankaClear, Sri Lanka’s central cheque clearing […]
Pension Penetration
February 15 (LBO) – Life Insurance Corporation Lanka is breaking into the untapped pension market in the country offering a long-term product that pays an annuity.“There is a large ageing population in the country,” LIC Lanka General Manager S S Mathiapanan said. “The joint family system in our culture is breaking down, children are in […]
Sri Lanka housing bank to raise 500 million rupees and branch out to lifestyle loans
Feb 15, 2007 (LBO) – HDFC Bank is to raise 500 million rupees through a 4-year debenture shortly and branch out into related lending schemes officials said.The 4-year debenture would be privately placed by the First Capital group CEO, C A Sarathchandra said. The bank, which gives housing mortgages up to 15-years also give lifestyle […]
Hydro Cash
February 14 (LBO) – Sri Lanka’s national power utility has raised the tariff for existing mini-hydro plants by about 19 percent during the crucial wet season, when most of the power is generated. Colombo Stock Exchange has two listed mini-hydro plants, Vallibel Power Eratne and Vidullanka, whose margins are expected to improve with the new […]