Author: lbostgadmin
Tele Effort
HANOVER, March 9, 2014 (AFP) – Britain and Germany will team up to work on developing the next super-fast mobile network, 5G, Prime Minister David Cameron told the opening of the world’s biggest high-tech fair Sunday.Cameron said the initiative was one of three areas he wanted Britain and Germany to collaborate on to “pool ideas, […]
Marine Cable
Mar 10, 2014 (LBO) – Sri Lanka Telecom said it is partnering with 15 other operators to build a new submarine cable system spanning South East Asia, Middle East and Western Europe, which will be landed in Matara in the island’s south.With telecom traffic growing fast existing cable systems such as SEA-ME-WE 4 are getting […]
Sri Lanka stocks close weaker
Mar 10, 2014 (LBO) – Sri Lanka’s stocks close 0.14 percent lower Monday with Sri Lanka Telecom and John Keells Holdings losing ground, brokers said. The Colombo benchmark All Share Price Index closed 8.45 points lower at 5,957.61 down 0.14 percent. The S&P SL20 closed 7.30 points higher at 3,252.29, up 0.22 percent. Turnover was […]
Sri Lanka sells US$187mn in 3-year floating rate bonds
Mar 10, 2014 (LBO) – Sri Lanka has sold 187 million dollars of 3-year bonds at a yield of 400 basis points above the London Interbank Offered Rate, the state debt office said.The bonds are mostly bought by Colombo-based banks and investors who are allowed to hold foreign currency assets. On March 10, LIBOR was […]
Sri Lanka thump Pakistan for Asia Cup title
DHAKA, March 8, 2014 (AFP) – Opener Lahiru Thirimanne hit a magnificent century to help Sri Lanka thump Pakistan by five wickets to regain the Asia Cup title in Dhaka on Saturday. The left-hander notched 101 for his third one-day hundred to anchor Sri Lanka’s successful chase of a 261-run target in 46.2 overs for […]
One worker killed in Indian nuclear submarine accident
NEW DELHI, March 9, 2014 (AFP) – One Indian worker was killed in an accident during construction of a nuclear submarine, a defence statement said Sunday, the latest in a string of deadly mishaps to hit the navy.Two other workers were injured in the accident on Saturday at a ship building centre in the southeastern […]
Rail Deal
Mar 09, 2014 (LBO) – A 600 million US dollar contract to extend a rail track from Beliatta to Kataragama in Sri Lanka’s South has been awarded to China National Machinery Import and Export Corporation (CNMIEC), a media report said.People from whom land had been acquired has already been compensated, the reported quoted Matara-Kataragama Railway […]
Reclaiming Controversy
Mar 09, 2014 (LBO) – State-run Sri Lanka Port Authority has responded to criticism over the award of an unsolicited sea reclamation project to a Chinese firm saying deals on similar lines had happened earlier. China Communication Construction Co.Ltd (CCCC), a key player in the ‘Port City’ project involving 233 hectares near Colombo Port has […]
‘s interest rates kept higher to help savers: Treasury Secretary
Mar 08, 2014 (LBO) – Sri Lanka’s interest rates have been kept higher than underlying conditions required, in order to protect savers, Treasury Secretary P B Jayasundera said.Jayasundera said price reforms in state energy utilities, transport and water distribution had resulted a public sector deficit reversal of around 2 percent of gross domestic product. “And […]
Grave Affair
COLOMBO, March 8, 2014 (AFP) – Sri Lankan authorities halted excavations after recovering 81 skeletal remains from an unmarked mass grave atop an old burial ground in the island’s former war zone, an official said Saturday.Judicial medical officer Dhananjaya Waidyaratne said digging at a depth of about two metres (6.7 feet) led to the old […]
‘s fastest growing firms to join US-based AllWorld Network
Mar 07, 2014 (LBO) – Sri Lanka firms and start-ups could gain wide visibility which will win them more business and financial backing after the island joined the AllWorld Network, a grouping of fast-growing companies, officials said.“Those companies are not growing at 5 percent,” Anne Habiby, co-founder of AllWorld Network told a forum in Colombo […]
Cricket: Sangakkara, Afridi set to light up Asia Cup final
DHAKA, March 7, 2014 (AFP) – Rampaging Shahid Afridi and prolific Kumar Sangakkara have set the stage for a rousing contest when Pakistan face Sri Lanka in the Asia Cup one-day final in Dhaka on Saturday.Angelo Mathews’ Sri Lanka have been the dominant team in the five-nation event with four straight victories in the league, […]