Category: Industry
White Lies
NETANYA, Israel, Jan 8, 2007 (AFP) – Have you ever wondered if someone you are chatting to is telling the truth?New lie detector software from high-tech powerhouse Israel says it can show you — across the Internet. “We tested it with the (former US president Bill) Clinton speech about his relationship with his intern Monica […]
United Action
Jan 08, 2007 (LBO) – Sri Lanka Telecom trade unions including non executive technical staff are threatening to go on strike next week, if the telecom giant fails to sort out salary anomalies, promotions and restrict short-term contracts. The union official says the company had not yet granted 17.5 percent, 20.0 percent or 25.0 percent […]
Few Tweaks
January 8, 2007 (LBO) – Sri Lanka’s Central Bank plans to revise the way commercial banks’ compute the single borrower limit, as part of its drive to strengthen the banking system. “We are looking at revising the Single Borrower Limit in line with improved risk management by banks,” Governor Nivard Cabraal said. Presently, a single […]
Cheap Deals
KUALA LUMPUR, Jan 5, 2007 (AFP) – AirAsia X, a new long-haul, low-cost carrier, will take off in July with flights to Britain for as little as 9.99 ringgit (2.84 dollars), Malaysian aviation tycoon Tony Fernandes said Friday. AirAsia X will service other destinations in Europe as well as China and India, said Fernandes, the […]
Little Choice
January 05, 2007 (LBO) – Sri Lanka’s clothing exporters are protesting against shipping lines’ decision to increase fees for handling goods out of the island by as much as 35 percent. Starting January 1, the Terminal Handling Charge or THC for a 20 foot container goes up from 115 dollars to 155 dollars, while 40 […]
Bingo
January 5, 2007 (LBO) – Sri Lanka Friday inked a 5.16 billion rupee (47.8 million dollar) agreement with Indian fuel retailer Lanka IOC Ltd. to settle a long standing subsidy payment. Lanka IOC is 75 percent-owned by Indian Oil Corp., with the remaining 25 percent listed on the Colombo Stock Exchange. The company commenced operations […]
Fresh Face
Dec 05, 2007 (LBO) – Sri Lanka’s Postal Department is expanding its high value stamp range with a 200 rupee issue later this year and is also seeking public views to issue personalised stamps for private entities. Stamp values currently vary from 50 cents and to 1,000 rupees. “For persons or companies who want commemorative […]
New Business
January 05, 2007 (LBO) – The long-awaited restarting of Pramuka Bank as the Sri Lanka Savings Bank will get underway soon, with the new entity due to begin banking operations in January. The new bank will be the second fully government owned savings bank after National Savings Bank, which was established in 1972. At the […]
Costly Ride
January 4, 2007 (LBO) – Gasoline prices in Sri Lanka will go up by 5-percent, to keep pace with rising world oil prices that are currently hugging the 60 dollars a barrel mark, the government said Thursday. A net oil importer, Sri Lanka’s fuel bill climbed up to around to 2.2 billion dollars last year, […]
Automated Shares
Jan 04, 2007 (LBO) – Sri Lanka’s Millennium Information Technologies says they have designed an implemented an automatic stock trading system for the Tanzanian Stock Exchange within a record two months. The new Automated Trading System and the Central Depository System (CDS) moved the Dar es Salaam Stock Exchange’s (DSEs) trading from an open outcry […]
Thin Frames
SYDNEY, Jan 4, 2007 (AFP) – Asian airlines will likely reap reduced profits in 2007 as increased competition offsets gains in passenger and freight traffic, a global aviation body said Thursday. The International Air Transport Association (IATA) predicted that the sector would see total profits for Asia plummet from around 1.7 billion US dollars in […]
Tech Unsavvy
Jan 03, 2007 (LBO) – Sri Lanka’s ministry of education says more than 60 percent of the teachers in Sri Lanka lack computer and English literacy skills that are needed in a modern teaching environment. The Ministry of Education says a new government survey shows that only a third of the teachers or (32.5 percent) […]