Category: Industry
Fibre Optic
PARIS, December 21, 2008 (AFP) – France Telecom said Sunday that repair work has begun on damage to Mediterranean undersea cables that badly disrupted Internet and telephone communications between Europe, the Middle East and Asia.A 64-crew maintenance boat arrived on site, off the coast of Sicily, at 1400 GMT on Sunday following a two-day journey […]
Key Problem
Dec 22, 2008 (LBO) – Golden Key Credit Card Company is being rehabilitated after it was mismanaged and its chief executive has resigned, Sri Lanka’s Ceylinco group chief Lalith Kotelawala, said in a newspaper advertisement. Kotelawala said Khavan M Perera, chief executive director of Gold Key Credit Card Company Ltd has “admitted mismanagement and voluntarily […]
Buoyed Profits
Dec 22, 2008 (LBO) – RAM Ratings has assigned a claims-paying ability rating of BB to Sri Lanka’s Co-operative Insurance Company Limited (CICL) with a stable outlook. It said in a statement the rating takes into account the company’s “moderate competitive position” and underwriting standards. “However, the rating is pressured by hefty overheads, inadequate reserving […]
New Home
Dec 22, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) said it plans to build a new head office to house its offices now scattered throughout Colombo port and will not buy a hotel as planned previously. The SLPA is trying to get more space inside the harbour for its cargo operations with volumes […]
‘s World Cup, says ICC boss
MOHALI, December 21, 2008 (AFP) – The tense stand-off between India and Pakistan following the Mumbai attacks will not affect the 2011 World Cup in the region, cricket’s world chief said on Sunday. “I am sure that the subcontinent will stage the World Cup,” International Cricket Council (ICC) president David Morgan told reporters on the […]
Specialist Lender
Dec 21, 2008 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company, has been upgraded by one notch to ‘BB-(lka)’ Fitch Ratings said, while its outlook has been lowered to ‘stable’ from ‘positive’ at the new credit level. Real estate, in the form of housing development projects and land, marketed to the […]
Comms Down
PARIS, December 19, 2008 (AFP) – Internet and telephone communications between Europe, the Middle East and Asia were severely disrupted Friday after three undersea cables were damaged in the Mediterranean, France Telecom said.“The causes of the cut, which is located in the Mediterranean between Sicily and Tunisia, on sections linking Sicily to Egypt, remain unclear,” […]
Comm Link
PARIS, December 20, 2008 (AFP) – A French ship on Saturday took experts to repair broken undersea Mediterranean cables that caused severe disruption to telephone and Internet services across the Middle East and Asia, France Telecom said. But many operators said communications services had improved as alternative routes had been used to carry calls and […]
Price Cut
Dec 19, 2008 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, is cutting the retail price of petrol to 100 rupees a litre on an order by Sri Lanka’s Supreme Court, an official said Friday. The court order came following a public interest petition which said the government was charging 72 rupees of […]
Sri Lanka to tour Pakistan after India pulls out
KARACHI, December 19, 2008 (AFP) – Sri Lanka have confirmed they will tour Pakistan next month in place of India, who cancelled their five-week series over the Mumbai attacks, a Pakistani cricket official said Friday.“We are thankful to Sri Lankan Cricket for confirming a tour in place of India,” Pakistan Cricket Board (PCB) chief operating […]
Migrant Risks
Dec 19, 2008 (LBO) – Sri Lanka’s foreign ministry has warned housemaids seeking employment in Singapore to be wary of abuse and to use official channels when securing employment.It said in a statement its mission in Singapore has got several complaints from Sri Lankan housemaids employed in Singapore relating mainly to the payment of wages […]
State Conduit
Dec 19, 2008 (LBO) – The multi-billion rupee advertising business of the Sri Lanka government and semi-government institutions would channeled through a singe state-run entity in the future, a senior minister said. At present the government intuitions deal with various private agencies who buy time and space in electronic and print media. Information minister Anura […]