Author: lbostgadmin
Chattiest Year
October 11, 2006 (LBO) – Sri Lanka’s mobile phone penetration is due to peak at 38 percent in 2008, amidst regulatory bottlenecks to iron out crucial issues like interconnection and the management of frequency spectrum, an equity research report said Wednesday. However, operators have found loopholes within the law which allows them to offer ‘seasonal’ […]
Korean Chips
October 11, 2006 (LBO) – Korea’s Samsung Networks Inc has picked up a 15 million dollar contract to digitally link up key Sri Lankan government agencies. Samsung will equip and digitally manage the Lanka Government Network or LGN project, connecting line ministries and divisional secretaries to ensure a smooth flow of information. The South Korean […]
Small Screen
CANNES, France, Oct 11, 2006 (AFP) – TV on tiny mobile phone screens may have started out small but it is growing up fast as more and more cellphone users around the world tune into television on their mini screens.Today, fans can catch up with the latest episodes of smash hit TV shows, from “Desperate […]
Media Gagged
Oct 11, 2006 (AFP) – Escalating violence in Sri Lanka has led to unofficial censorship enforced by intimidation and death threats against journalists, an international group said Wednesday. A “fact finding mission” by a dozen media organisations as well as a UN body reported that security forces were interfering in the editorial work of media […]
Say Yes!
October 11, 2006 (LBO) – Sri Lanka’s Sampath Bank Ltd is seeking shareholder approval to raise it’s authorise share capital and lift the maximum shareholder limits to be on par with Central Bank guidelines. The bank’s authorised share capital stands at 1.5 billion rupees and the board is seeking shareholders’ consent through an extraordinary meeting […]
Free Skies
Oct 11, 2006 (LBO) – Sri Lanka has won additional flights to Indian metropolitan cities Mumbai and Bangalore, following a round of talks with India this week on liberalising air services. We have got seven additional frequencies a week to Mumbai in addition to the seven at present, as well as seven more frequencies to […]
Fitch retains SLTs BB- rating; estimates court ruling to cost Rs 3.0 bn
October 11, 2006 (LBO) – Fitch Ratings affirmed Sri Lanka Telecom’s foreign currency debt as ‘BB-‘ negative outlook, while the telco’s local currency debt remains at AAA (lka), with a stable outlook. The ratings also acknowledge the uncertainties that persist in the regulatory environment, which is still developing. The risk evaluator also retained the BB- […]
Sri Lanka’s treasury bill rates rise by 50 basis points; speculation of a rate hike
October 11, 2006 (LBO) – Sri Lanka’s borrowing costs went up half a percentage during the weekly treasury bill auction Wednesday, sparking speculation that the central bank may hike its key policy rates for the fourth time this month. The bank offered 12.083 billion rupees worth of bills at this week’s auction but accepted only […]
Little Choice
October 10, 2006 (LBO) – Indian fuel retailer Lanka IOC is due to receive 5.16 billion rupees in cash and bonds from the government as settlement for having sold fuel below costs, officials said Tuesday. At present around 15 of the 99 tanks in the farm are operational. However as business develops, LIOC plans to […]
Artillery attacks kill soldier in fresh Sri Lanka fighting
Oct 10, 2006 (AFP) – At least one soldier was killed and another wounded Tuesday in an artillery attack carried out by Tamil Tiger rebels at a de facto front line in northern Sri Lanka, defence officials said.The rebel Liberation Tigers of Tamil Eelam (LTTE) pounded the Muhamalai defence line in the Jaffna peninsula in […]
Bomb blast kills three in Sri Lanka
Oct 10, 2006 (AFP) – A powerful bomb ripped through a passenger van in Sri Lanka’s embattled northern district of Vavuniya on Tuesday, killing the driver and two others, police said. The driver had stopped at his home when a device placed inside the vehicle exploded, police said, adding that two people in the victim’s […]
Sri Lanka rebels agree on talks in Switzerland
Oct 10, 2006 (AFP) – Tamil Tiger rebels said Tuesday they were ready to resume peace negotiations with the Sri Lankan government but would reconsider if security forces kept up attacks against them. The rebel Liberation Tigers of Tamil Eelam (LTTE) told peace broker Norway that they agreed to two days of talks starting October […]