Category: Industry
Old Hands
SINGAPORE, Jan 12, 2007 (AFP) – Workers are relying on 19th century technology to fix a very 21st century problem — disruption of the Internet traffic that tech-savvy Asia relies on. Crewmen on boats south of Taiwan are dragging the seabed with grappling hooks at the end of long ropes to recover fibre optic cables […]
Tight and Loose
January 12, 2007 (LBO) – Sri Lanka’s central bank has allowed finance companies to form subsidiaries, raised single borrower limits, but tightened provisioning requirements, the regulator said. A 40 percent limit on the acquisition of other companies has been relaxed, provided approval is gained from the Monetary Board, the Central Bank. “What this means is […]
Brainstorming
LAS VEGAS, Nevada, Jan 10, 2007 (AFP) – Porn makers at the world’s largest sex trade show in Las Vegas on Wednesday were taking a page from Internet superstars such as YouTube by tapping into the power of social networking. Fresh young start-ups at the AVN Adult Entertainment Expo weren’t just saucy women in scanty […]
”s latest draw card for foreign travellers
January 11, 2007 (LBO) – Scouting treetops for purple-faced leaf monkeys or on the trail of the shy loris at nightfall, Sri Lanka’s rich primate life could become a draw card for foreign travellers with a taste for the wild. The tiny island off the tip of India is home to at least five species […]
Sri Lanka tourism slumps in Dec, authorities pin hopes on India and Middle East
Jan 11, 2007 (LBO) – Sri Lanka’s leisure industry closed 2006 a neck ahead of the previous year, but the troubled island saw a sharp downturn December, as internal strife intensified and travel advisories kept visitors away. Sri Lanka lured 559,603 visitors last year, a slim 1.9 percent jump over 2005, but fell far short […]
Morning After
January 10, 2007 (LBO) – Sri Lanka’s state-run Bank of Ceylon plans to sell off shares owned in NDB and DFCC Bank this year, to top up a gap in its pension fund, a senior official said Wednesday. Sri Lanka’s largest bank in terms of assets, is carrying a two billion rupee gap in its […]
Travel Subsidy
Jan 10, 2006 (LBO) – Sri Lanka government is planning to inject more subsidies into the loss making, heavily unionized state bus service, following violent protests by workers connected to a Marxist nationalist party, a senior government minister said. Transport Minister A H M Fowzie said he was in talks with the Treasury to get […]
Virtual Fantasy
LAS VEGAS, Nevada, Jan 9, 2007 (AFP) – Family entertainment conglomerate Walt Disney Corporation introduced a revamped website which they say is a one-stop portal to online games, information on films and Disney characters, and product sales.“Our villain is going to try to wipe out our pirates,” Bruckheimer said, referring to his film-in-progress.“Hopefully, you will […]
Across Borders
Jan 09, 2007 (LBO) – Nigeria’s EcoBank has adopted a software product developed by Sri Lanka’s Interblocks Ltd to issue credit cards, officials said Tuesday. Interblocks ‘iCard system’ a multi card issuing and acquiring management and processing solution is now being used to issue local MasterCards in local ‘Naira’ currency. “EcoBank is one of the […]
Instant Cash
January 09, 2007 (LBO) – Privately run Ceylinco Insurance, is offering on the spot cash facilities to settle customer claims, in an attempt to retain its lead as one of the biggest insurers in Sri Lanka, officials said Tuesday. “Claims relating to polices from motor vehicles, marine, health, homes, trade establishments, fire and miscellaneous insurance […]
‘s Official
January 9, 2007 (LBO) – Lanka IOC, a unit of Fortune 500 Indian Oil Corp. has laid the foundation stone on its upcoming lubricant blending plant over weekend, after the Sri Lankan government settle settled 5.16 billion rupees in unpaid subsidy bills last Friday, officials said. Lanka IOC is 75 percent-owned by Indian Oil Corp., […]
Better Experience
LAS VEGAS, Nevada, Jan 8, 2007 (AFP) – Skype unveiled on Monday its own models of desktop telephones that can make free Internet calls using the firm’s pioneering online service.The pricing for calls will be the same on the new Skype telephones, Lagier said. The IPEVO Solo One and the TOPCOM Webt@lker 5000 were among […]