Author: lbostgadmin
Trade unions force Sri Lanka to scrap newer consumer inflation index
December 13, (LBO) – A newer price index covering a larger geographical area, which represented a broader socio-economic category is being scrapped because trade unions opposed it’s use to link wages, Sri Lanka’s statistics office said. This year the CCPI was spiking higher than the SLCPI with October 12-month point-to-point registering 17.2 percent in the […]
Sri Lanka vows to flush out Tigers, civilians flee fighting
COLOMBO, Dec 13, 2006 (AFP) – Sri Lanka’s army chief vowed to drive out Tiger guerrillas from the island’s restive east as dozens of civilians fled their shelters Wednesday amid a lull in shelling. The commander of the army, Lieutenant General Sarath Fonseka, said the military had captured two guerrilla defence lines inside their Vakarai […]
Sri Lanka Cricket sues insurance firm to recover 11.9m dollars
COLOMBO, Dec 13, 2006 (AFP) – Sri Lanka’s cricket governing body is sueing a private insurance company in a bid to recover nearly 12 million dollars lost when a home series was abandoned, officials said Wednesday. “We have filed action as the company refused to pay the claim giving various excuses,” a Sri Lanka Cricket […]
Asian cities face environmental crises: study
MANILA, Dec 13, 2006 (AFP) – Asia’s urban population is expected to grow by 70 percent to more than 2.6 billion over the next 25 years, placing severe strain on services, according to a book jointly published by the Asian Development Bank. “Development in Asia is tied to the growth of sustainable cities,” he added. […]
Seasonal Cheer
Dec 13 (LBO) – Sri Lankan workers in Board of Investment approved companies within and outside industrial zones are to get a wage hike with effect from January 01 next year. Unions have argued that some companies violate internationally accepted wage rates, overtime hours, unfair dismissal of workers and do not allow trade unions to […]
Credit Forecast
December 13 (LBO) – Slow global economic growth, lower reserve build up and politics will be in the spotlight for sovereign credit assessments in emerging Asia, including Sri Lanka, next year, rating agency Fitch said Wednesday. “For the region, Fitch forecasts a reserve build of USD300 billion next year, which would be slightly lower than […]
Sri Lanka parties urged to hold fire amid heavy civilian losses
COLOMBO, Dec 12, 2006 (AFP) – The United Nations and Nordic truce monitors on Tuesday voiced grave concern for 35,000 “desperate civilians” caught in the crossfire between Sri Lankan troops and Tamil Tiger rebels. The Tamil Tigers are fighting for independence for the island’s minority 2.5 million Tamil community in the majority-Sinhalese nation of 19.5 […]
”’ looking for glorious finale
DOHA, Dec 12, 2006 (AFP) – Susanthika Jayasinghe has always been a drawcard, whether for her medal winning exploits or colourful private life, and the Sri Lankan is looking for a glorious finale by medalling in the Beijing Olympics. Since then, despite an Asian Games gold in 2002, she has been a rarer sight on […]
Asian financial markets face greater volatility in 2007: S and P
SINGAPORE, Dec 12, 2006 (AFP) – Asia-Pacific financial markets will remain generally strong but face greater volatility and higher risks in 2007, Standard and Poor’s said Tuesday. The US-based credit watchdog said in a statement that the regional economic outlook remained positive despite an expected US slowdown next year. But higher financing costs, increased corporate […]
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PARIS, Dec 12, 2006 (AFP) – For the companies and individuals inhabiting the web’s ever-evolving ecosystem, three big revolutions have taken place almost unnoticed by outside observers. The first, they argue, was the initial phase — or what they call “Web 1.0” — when corporations like the BBC, Disney and established newspapers set up virtual […]
Underwater Link
Dec 12, 2006 (LBO) – A new fibre optic undersea cable that connects Maldives to Sri Lanka will bring down international call charges from the Indian Ocean coral atoll, officials said Tuesday. The telco, which carries an AAA (lka) rating from Fitch Ratings Lanka, also has a share in Sri Lanka’s cellular market through its […]
Soft Landing
December 12, 2006 (LBO) – Lanka Bell, one of Sri Lanka’s privately held wireless telecom operators, has tied up with India’s FLAG Telecom to lay an undersea cable linking both countries. FLAG owns and manages an extensive optical fibre network spanning four continents and connecting key business markets in Asia, Europe, the Middle East and […]