Category:
Fibre Rail
Jan 17, 2007 (LBO) – Sri Lanka will invite a private operator to build an optical fibre backbone in partnership with the state-owned railway system, a senior minister said. Sri Lanka’s transport ministry which runs the railways department had been given approval to start looking for a telecom operator to lease the country’s 1,200 kilometres […]
‘s Mihin charts flight path for 2008: interview
Jan 17, 2008 (LBO) – Sri Lanka’s state owned budget carrier Mihin Air is promising better results this year after burning up its capital and clocking up a 1.4 billion rupee loss in the first year of operations. In a wide ranging interview with Shamindra Kulamannage from ETV’s Lanka Business Report (LBR) program Mihin chief […]
Maldives nab foreigners for prostitution
January 17, 2006 (LBO) — Five foreigners have been arrested in the Indian Ocean Island of Maldives for allegedly offering commercial sex and having lubricants and condoms on them, police said Thursday.“Three men and two women were arrested Tuesday midnight on a tip off from a house in Male,” police spokesman Sergeant Ahmed Shiyam said […]
Kenya crisis hits tea hard
NAIROBI, Jan 17, 2008 (AFP) – Tea is a casualty of the turmoil sparked by disputed presidential elections in Kenya, with thousands of workers forced to flee plantations in one of the world’s top exporters, industry sources say. Between 26,000 and 70,000 tea sector employees from the western region of Kericho, where Kenya’s main plantations […]
Sri Lanka jets bomb Tiger hideout: military
Jan 17, 2007 (LBO) — Sri Lanka Air Force jets have bombed a meeting place of Tiger leaders in the northern guerilla stronghold of Kilinochchi Thursday, the military said. The defence ministry said the target was a gathering of “senior leaders’ at Jayapoor near Kilinochchi at 09.30 am. Yesterday the guerillas blasted a bus and […]
UN chief slams Tamil Tiger terror attacks
UNITED NATIONS, Jan 16, 2008 (AFP) – UN chief Ban Ki-moon strongly condemned the “indiscriminate attacks” which left dozens of people dead or injured in southern Sri Lanka and urged the rival sides to strive for a peaceful negotiated settlement. “The Secretary General strongly condemns the indiscriminate attacks in the southeast of Sri Lanka today […]
Departing Sri Lanka peace monitors say military solution not possible
Jan 16, 2008 (AFP) – Nordic peace monitors pulled out of Sri Lanka on Wednesday following the collapse of a ceasefire, and warned that the war between the island’s government and Tamil rebels cannot be won by either side.The Norwegian-led Sri Lankan Monitoring Mission (SLMM) was to shut down its operations late Wednesday, after Colombo […]
Diesel Move
Jan 17, 2007 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation (CPC) has struck a deal with Trafigura, a petro firm in Singapore, to get up to 500 million dollars of supplier’s credit for diesel, a top official said. Trafigura will give CPC 6-months of supplier’s credit at London Interbank Offered Rate plus 1.6 percent, […]
Sri Lanka should be mindful of impact on poor from new inflation index: CEPA
Jan 17, 2007 (LBO) – A controversy over a new price index in Sri Lanka may have erupted partly because it came at time of high inflation, but the index shows the same trend as earlier ones, an organization focusing on poverty has said.“However, it is vital to remember that inflation hurts the poor first […]
Sri Lanka policy rates unchanged, but tight stance promised
Jan 17, 2007 (LBO) — Sri Lanka’s central bank kept its main discount rate to banks unchanged at 12.00 percent but promised tight monetary policy ahead based on a quantity targeting framework unveiled earlier in January. “The targeted growth in reserve money, which will be maintained on a daily average basis, will ensure strict maintenance […]
Sri Lanka treasuries yields ease, rupee gains on greenback
Jan 16, 2007 (LBO) — Sri Lanka’s treasuries yields settled lower at Wednesday’s auction as the government rolled over 9.7 billion rupees of maturing bills, the debt office said, while the rupee made further gains against the US dollar. Three month yields fell to 87 basis points to 19.25 percent, 6-month bills fell 50 basis […]
Sri Lankan stocks tumble as Tigers attack civilians
Jan 16, 2008 (LBO) – Sri Lankan stocks fell sharply Wednesday as Tamil Tigers killed at least 28 civilians in separate attacks in the island’s south, the day a ceasefire formally ended. The All Share Price Index lost 50.55 points or 2.08 percent to close at 2,382.16, while the more liquid Milanka index went down […]