Author: lbostgadmin
11,000 Tamils flee to India to escape Sri Lanka fighting
CHENNAI, India, Aug 31, 2006 (AFP) – More than 11,000 Tamil refugees have fled to India since January to escape renewed fighting between the Sri Lankan army and separatist rebels and more are likely to come, officials said Thursday. The figure includes a batch of about 500 refugees who travelled by boat to reach Mandapam […]
Sri Lanka demands proof of massacre charges
COLOMBO, Aug 31, 2006 (AFP) – The Sri Lankan government demanded proof Thursday of allegations by Nordic truce monitors that security forces were responsible for the massacre of 17 aid workers of a French charity. “It is premature to blame the government without any supporting evidence,” Sri Lankan government spokesman Keheliya Rambukwella said in Colombo. […]
Ford wants to sell Aston Martin
DEARBORN, Michigan, Aug 31, 2006 (AFP) – Troubled US auto giant Ford Motor Co. said Thursday it was looking to sell its British sports marque Aston Martin. Chief executive Bill Ford said that as part of its strategic review, the US company had decided that Aston Martin “may be an attractive opportunity to raise capital […]
Bus Ride
SEOUL, Aug 31, 2006 (AFP) – South Korea’s high-tech giant Samsung Electronics on Thursday unveiled the world’s first fourth-generation (4G) mobile technology with a demonstration on a bus.Samsung said the new technology, an upgraded version of existing wireless communications platforms, would enable users to download 100 MP3 music files in less than 3 seconds — […]
Just Inquiring
August 31, 2006 (LBO) – Sri Lanka Telecom is in talks to acquire a small software company to beef up its technical capacity and expand revenue streams. The island’s biggest fixed line operator plans to do a due diligence on eServices Lanka Ltd, SLT chief executive Shuhei Anan said Thursday. eServices Lanka Ltd is jointly […]
‘s tea crop falters in July
August 31, 2006 (LBO) – Sri Lanka’s tea output dipped 5.7 percent for the seven months to July but earned 50.89 million rupees by shipping the brew to overseas buyers over the same period last year, a commodity broker said. Production of Kenya’s largest export crept up 2.9 million kilos to 23.7 million kilos in […]
Half Empty
TOKYO, Aug 31, 2006 (AFP) – The global airline industry is expected to almost halve its losses in 2006 thanks to buoyant economic growth and deep cost cuts, the world’s top airline association said Thursday.The industry is now expected to lose 1.7 billion dollars in 2006, much less than the 3.0 billion loss previously feared […]
Fine Tuning
Aug 31, 2006 (LBO) – SriLankan Airlines is in talks with regional carriers from India, Pakistan and the Middle East to carry out third party maintenance checks on aircraft, top airline officials said. The national carrier just successfully completed a multiple C check for an Emirates A330-200 aircraft, called the 4C5Y, usually carried out every […]
Sri Lanka looks for investors to raise US$ 100 million
August 31, 2006 (LBO) – Sri Lanka Thursday announced plans to raise another 100 million dollars through a bond issue to pay for ongoing development projects. Prospective investors can send in their applications from Sept 5-12 and those selected have to pay up by Sept 20, the Central Bank said in a public notice. Investors […]
Cable Cut
August 30, 2006 (LBO) – The Asian Development Bank has dropped the second loan installment due to Sri Lanka, as the government is reluctant to push ahead with Ceylon Electricity Board’s reforms. The Manila based bank had earlier pledged 30 million dollars under a power sector project, with loan installments linked CEB reforms. Loan conditions […]
Minor Slip
August 30, 2006 (LBO) – Dominant lubricant supplier Caltex Lanka Ltd is expecting a marginal drop in volumes this year as intensified fighting in the northeast dries up sales. Caltex says sales to the conflict zones accounts for around 10-12 percent of total volumes, and was growing steadily until hostilities erupted in July. Prior to […]
Finland, Denmark, Sweden to complete pull out of Sri Lanka observers on time
HELSINKI, Aug 30, 2006 (AFP) – Finland, Denmark and Sweden will pull out all their ceasefire monitors from Sri Lanka by the end of the month in response to a deadline set by rebels, officials said on Tuesday.In Helsinki the government said that the 10 monitors return home by Wednesday. Most of the Swedish observers […]