Category:
Marine Cable
Mar 10, 2014 (LBO) – Sri Lanka Telecom said it is partnering with 15 other operators to build a new submarine cable system spanning South East Asia, Middle East and Western Europe, which will be landed in Matara in the island’s south.With telecom traffic growing fast existing cable systems such as SEA-ME-WE 4 are getting […]
Tele Effort
HANOVER, March 9, 2014 (AFP) – Britain and Germany will team up to work on developing the next super-fast mobile network, 5G, Prime Minister David Cameron told the opening of the world’s biggest high-tech fair Sunday.Cameron said the initiative was one of three areas he wanted Britain and Germany to collaborate on to “pool ideas, […]
Sri Lanka no longer “uncomfortable” with inflation blot on economic record
Mar 10, 2014 (LBO) – Sri Lanka is no longer “uncomfortable” with the blot of high inflation in its economic record when meeting international agencies and visiting businessmen, a top official said.“We no longer feel uncomfortable to speak to the International Monetary Fund, the World Bank, the international rating agencies, the international business community, all […]
Reclaiming Controversy
Mar 09, 2014 (LBO) – State-run Sri Lanka Port Authority has responded to criticism over the award of an unsolicited sea reclamation project to a Chinese firm saying deals on similar lines had happened earlier. China Communication Construction Co.Ltd (CCCC), a key player in the ‘Port City’ project involving 233 hectares near Colombo Port has […]
Rail Deal
Mar 09, 2014 (LBO) – A 600 million US dollar contract to extend a rail track from Beliatta to Kataragama in Sri Lanka’s South has been awarded to China National Machinery Import and Export Corporation (CNMIEC), a media report said.People from whom land had been acquired has already been compensated, the reported quoted Matara-Kataragama Railway […]
One worker killed in Indian nuclear submarine accident
NEW DELHI, March 9, 2014 (AFP) – One Indian worker was killed in an accident during construction of a nuclear submarine, a defence statement said Sunday, the latest in a string of deadly mishaps to hit the navy.Two other workers were injured in the accident on Saturday at a ship building centre in the southeastern […]
Sri Lanka thump Pakistan for Asia Cup title
DHAKA, March 8, 2014 (AFP) – Opener Lahiru Thirimanne hit a magnificent century to help Sri Lanka thump Pakistan by five wickets to regain the Asia Cup title in Dhaka on Saturday. The left-hander notched 101 for his third one-day hundred to anchor Sri Lanka’s successful chase of a 261-run target in 46.2 overs for […]
Grave Affair
COLOMBO, March 8, 2014 (AFP) – Sri Lankan authorities halted excavations after recovering 81 skeletal remains from an unmarked mass grave atop an old burial ground in the island’s former war zone, an official said Saturday.Judicial medical officer Dhananjaya Waidyaratne said digging at a depth of about two metres (6.7 feet) led to the old […]
‘s interest rates kept higher to help savers: Treasury Secretary
Mar 08, 2014 (LBO) – Sri Lanka’s interest rates have been kept higher than underlying conditions required, in order to protect savers, Treasury Secretary P B Jayasundera said.Jayasundera said price reforms in state energy utilities, transport and water distribution had resulted a public sector deficit reversal of around 2 percent of gross domestic product. “And […]
Sri Lanka stocks close flat
Mar 07, 2014 (LBO) – Sri Lanka’s stocks close 0.07 percent higher Friday with index heavy John Keells Holdings extending gains amid thin foreign activity, brokers said. The Colombo benchmark All Share Price Index closed 4.13 points higher at 5,966.06 up 0.07 percent. The S&P SL20 closed 10.94 points higher at 3,244.99, up 0.34 percent. […]
E-cigarette use linked to higher smoking odds
WASHINGTON, March 6, 2014 (AFP) – E-cigarette use among US youths doubled in just one year, and those who tried the unregulated devices were more likely to smoke conventional cigarettes as well, a study said Thursday. Commonly sold at convenience stores and gas stations, e-cigarettes are battery powered gadgets that deliver nicotine through a vapor […]
SriLanka Airlines to join oneworld from May 01
Mar 07, 2014 (LBO) – State-run SriLankan Airlines said it is on track to join OneWorld, a global alliance of carriers on May 01, following the successful completion of a review by its sponsor, Cathay Pacific Airways. As part of oneworld, SriLankan will all of its customers seamless connections across a global network serving almost […]