Author: lbostgadmin
Indian chosen to head Pepsico
NEW YORK, Aug 14, 2006 (AFP) – Global beverages giant PepsiCo Monday named Indra Nooyi as its new chief executive, capping a rapid rise to the highest ranks of corporate America for the Indian-born woman. Nooyi, 50, will succeed the 58-year-old Steve Reinemund on October 1st, although Reinemund will keep working for the company until […]
One Passenger
The first sale of a license to operate a taxi service, through a call option, ended with no competitive bidding as only one buyer came forward, raising doubts about the demand for the other licenses to be auctioned over the next eight days. Senok Trade Combine was the only bidder at Monday™s auction where a […]
Treasury in talks with ADB to structure donor backed bonds for plantations
August 14 (LBO) – Sri Lanka is in talks with the Asian Development Bank to structure donor backed bonds to encourage private investment into the plantation sector, top officials said Monday. “We are talking to the Asian Development Bank to see if long term bonds guaranteed by foreign funding can be worked out for the plantation […]
Dollar bonds find favour in Sri Lanka as war jitters hit stocks
August 14 (LBO) – The oversubscription of a dollar bond issue was a reflection of the investor confidence in Sri Lanka government gilts, the country’s public debt office said in a statement Monday, as stocks lost ground over war jitters.The 3-year bond issue was more than twice oversubscribed when bids closed on August 11th. “The […]
Running battle raise war fears in Sri Lanka
COLOMBO, Aug 13, 2006 (AFP) – Sri Lankan troops and Tamil Tiger rebels traded artillery fire Sunday, a day after at least 177 people were killed in fierce battles, officials said, amid fears of a return to full-scale war.Security forces shelled positions held by the rebel Liberation Tigers of Tamil Eelam (LTTE) as sporadic face-to-face […]
Sri Lanka says ready to talk peace as fighting rages
COLOMBO, Aug 13, 2006 (AFP) – Sri Lankan troops and Tamil Tiger rebels waged artillery and ground battles Sunday as the weekend death toll rose to 186 by official count, but both sides said they were willing to talk peace.Policy Planning Minister Keheliya Rambukwella said the Liberation Tigers of Tamil Eelam (LTTE) made an overture […]
Fighting cuts off Jaffna from rest of Sri Lanka
COLOMBO, Aug 13, 2006 (AFP) – Sri Lanka’s northern Jaffna peninsula has been cut off from the rest of the island as hundreds of residents try to flee heavy fighting in the area, military officials said.Fighting that started on Friday and continued through the weekend has cut the main road connecting government-held regions of the […]
Tigers deny peace offer as weekend fighting leaves 186 dead
COLOMBO, Aug 13, 2006 (AFP) – Sri Lankan troops and Tamil Tiger rebels fought ground battles and artillery duels Sunday as the weekend death toll rose to 186 and the rebels denied they were ready to talk peace.Heavy fighting that started on Friday had cut off the northern Jaffna peninsula, a military official said, where […]
We never nicknamed Amla a “terrorist”, say South African team-mates
COLOMBO, Aug 13, 2006 (AFP) – South Africa’s cricket team on Sunday ridiculed suggestions they had nicknamed Muslim team-mate Hashim Amla a “terrorist”, a jibe that cost Dean Jones his television job. Jones, a former Australian Test star, was sacked as a commentator last week after being heard on air saying “the terrorist has got […]
Thin Client
August 13 (LBO) – A Sri Lanka-based securities trading platform maker says it is planning to market software on a transaction-based fee model next year, instead of only selling systems outright. MIT has also applied to patent the technology in a number of other jurisdictions including India. œThis will be attractive for broker-dealers, MillenniumIT (MIT) […]
Off Track
Aug 13 – (LBO) A scrap iron sale at Sri Lanka’s troubled state-run railway has come under fire from unions after the successful tenderer allegedly removed serviceable carriages along with scrapped equipment.Controversy surrounds railways tenders in Sri Lanka, especially in procurement. Two rail wagons, which are still in use by the railway department, was cut-up […]
Heavy shelling in Sri Lanka as fresh fighting flares
COLOMBO, Aug 12, 2006 (AFP) – Sri Lankan troops and Tamil Tiger rebels shelled each other’s positions in the island’s embattled northeast Saturday, killing at least two people and wounding many more, officials and rebels said. The rebel Liberation Tigers of Tamil Eelam (LTTE) pounded the port city of Trincomalee early in the day, killing […]