Author: lbostgadmin
Sri Lanka truce hangs by thread
July 28, 2006 (AFP) – Sri Lanka’s ceasefire hung by a thread Friday as Tamil Tiger rebels and government forces traded artillery fire and Finland announced its truce observers would leave the country.More than 60,000 people have been killed in the three-decade-old Tamil separatist conflict. Sri Lankan war planes struck a Tamil Tiger base Friday, […]
Hong Kong Hub
July 28, 2006 (LBO) – Sri Lanka Telecom, the island’s biggest fixed line operator, announced plans Friday to float a fully owned subsidiary in Hong Kong to extend their data network to the South Asian region. The telco’s chief Shuhei Anan said SLT Hong Kong Ltd will operate as a point of presence allowing the […]
Taking Flight
July 29, 2006 (LBO) – Malaysias top budget airline AirAsia is in talks to buy up a minority stake in local carrier Holiday Air, which is due to start international flights next year. Ruzaik says he hopes to have the technical plan for Holiday Air complete by October this year, after which recruiting for the […]
Sri Lanka to raise another US$150 mn bonds in Aug.
July 28, 2006 (LBO) – Sri Lanka plans to raise another 150 million dollars in development bonds next month to bridge the rising budget deficit, though there are market expectations that the government may issue more.The dollar bond issue will be offered to the market next week, with subscription closing on August 18, Central Bank’s […]
Back to Mommy
July 27, 2006 (LBO) – Sri Lanka’s cabinet has transferred a third of petroleum assets held by the treasury to the state-run Ceylon Petroleum Corp, with immediate effect, government spokesman Anura Yapa said Thursday. Under the cabinet decision, around 3,500 CPSTL staff will rejoin the CPC workforce. The assets — which comprises 107 fuel sheds […]
Sri Lanka warplanes bomb Tiger rebels for second day
July 27, 2006 (AFP) – Warplanes bombed suspected Tamil Tiger positions in northeast Sri Lanka on Thursday for a second day after the rebels allegedly blocked an irrigation canal, a military official said.“The bombing raids were over the northeastern region,” the military official said, adding that three Israeli-built Kfir jets were used in the offensive […]
Sri Lanka warplanes bomb Tiger airfield
COLOMBO, July 27, 2006 (AFP) – Sri Lankan warplanes bombed a clandestine airfield being built by Tamil Tiger rebels Thursday, the second day of bombardment against the guerrillas, the defence ministry said. The rebel Liberation Tigers of Tamil Eelam (LTTE) had cleared a jungle patch just north of the district of Trincomalee and were building […]
Airlines must look at alternative fuels to boost efficiency: IATA
GENEVA, July 27, 2006 (AFP) – Airlines must adapt to high oil prices and explore changes such as alternative fuels to regain profitability despite a 6.7 percent growth in passenger traffic during the first half of 2006, the top industry association said Thursday.Airlines are still battling for financial prosperity despite growing revenues and better load […]
Turbo Charge
July 27, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Thursday posted a 43 percent increase in net profits for the six months to June, as subscriber growth lifted revenues. A unit of Telekom Malaysia, Dialog Telekom, reported a 4.93 billion rupee group net profit, while revenues soared 51 percent to 12.28 […]
Tsunami Alert
JAKARTA, July 27, 2006 (AFP) – Indonesian officials said Thursday they plan to install sirens on mobile phone towers to alert coastal areas to potential tsunamis, following a second killer wave in the archipelago nation in as many years. Installation of the sirens will be completed by the end of 2006, said Paryatmoko, tsunami early […]
Trade Freeze
GENEVA, July 27, 2006 (AFP) – World Trade Organisation nations endorsed on Thursday suspension of free-trade negotiations after they collapsed on Monday, diplomats and trade officials said. Several countries attacked the so-called G6 of leading trading powers for refusing concessions to open the way for a treaty and said that progress made so far must […]
On the Boil
July 26, 2006 (LBO) – Fears of another fuel shortage were sparked off on Wednesday as the government refused to give in to trade union demands and said it would seek a court order restraining unions. “We are trying to get a court order tomorrow (Thursday) for the newly appointed Chairman Asantha de Mel to […]