Category: Industry
‘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 […]
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 […]
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 […]
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 […]
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 […]