Author: lbostgadmin
Dial Free
Aug11 (LBO) – Sri Lanka Telecom’s mobile subsidiary Mobitel just launched aggressive new post-paid tariffs, on the heels of a licence to also rollout Third Generation (3G) services. œWe are approaching it cautiously. On the one hand, the price of a handset is a deterrent. So we will not be rolling out 3G infrastructure island […]
Big Favours
August 11 (LBO) – Sri Lanka™s Board of Investment is to expand a selective list of exporters and importers who get Green Channel or speedy clearance through customs. We are in the process of considering further investors who are eligible for the scheme and we will add on another five to ten a month to […]
Harrods designs Ceylon teas from Sri Lanka
Aug 11 (LBO) – A top UK department store says it is expanding its selection of up market Ceylon Teas by introducing more custom made designer teas to tempt the palate of its customers. A soon to be introduced Harrods “Eagle Nest” tea is manually hand rolled to exacting specifications of the posh Knightsbridge department store. […]
’ Cry
Sri Lanka’s banks are asking authorities to revive stalled plans to strengthen the Credit Information Bureau (CRIB), while the sector is also facing the prospect of a relaxation of debt recovery laws. Analysts say relaxing debt recovery laws, and making it easier for defaulters to escape notice, may push up Sri Lanka’s national non-performing loan […]
Sri Lanka government raises US $ 175 million dollars
August11 (LBO) – A Sri Lankan government 3-year dollar bond issue had been more than twice oversubscribed allowing the government to raise more money than originally sought.Successful bidders will have to make payments for SLDBs on or before August 18, after a Notice of Acceptance of Application issued by the Central Bank. Investors flocked to […]
Two soldiers dead in renewed fighting near Sri Lanka waterway
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Sri Lankan war planes bombed Tamil Tiger positions as the two sides shelled each other around a disputed waterway near here Thursday, leaving at least two soldiers dead and 26 wounded. “We are on a defensive operation,” spokesman Upali Rajapakse said. “We had to retaliate when our […]
Fresh fighting dims Sri Lanka peace hopes, rebels say more than 50 killed
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Sri Lankan warplanes bombed Tiger positions as fighting broke out again near a disputed waterway in the troubled northeast Thursday, leaving more than 50 people dead according to the rebels. Some 30,000 people who fled their homes last week because of fighting between troops and the Tigers […]
Weary Sri Lankan medics fight fatigue as casualties mount
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Doctor Iranthi de Silva has worked for 15 hours straight, battling fatigue and stress as casualties in Sri Lanka’s strife-torn northeast mounted Thursday. A brief lull in the chaotic, makeshift emergency room at the Kantalai Base Hospital allowed her to sit down. But the distant wailing of […]
Coke, Pepsi struggle to find fizz in India
NEW DELHI, Aug 10, 2006 (AFP) – With a billion-plus people in a hot climate and a booming economy, India should be a choice market for Coke and Pepsi — but the two cola giants have instead faced a very bumpy local ride. The brands are in the midst of a publicity nightmare after an […]
British bomb plot causes worldwide airline chaos
LONDON, Aug 10, 2006 (AFP) – Air travel to and from Britain was plunged into chaos on Thursday in the wake of the discovery of a plot to blow up airlines on transatlantic flights. Many airlines said they were cancelling all flights to Britain and to the epicentre of the threat, London Heathrow, one of […]
Bank Tie
The Sri Lanka government agency that overseas state-owned enterprises is drawing up plans to merge a state-owned Sri Lankan housing bank with a savings bank that has a strong presence in the housing market, officials said. The State Mortgage and Investment Bank, a specialist housing bank with assets of 9.1 billion rupees was recently downgraded […]
Top Speed
Aug10 (LBO) – Associated Motorways Limited (AMW) posted an 18 percent jump in net profits to 143.8 million rupees in the first quarter 2007, led by growth in its passenger vehicle segment. The group’s net turnover was also up 76 percent to 2.6 billion rupees for the same period, over a company turnover performance of […]