Category:
SpiceJet orders 15 Bombardier jetliners
MONTREAL, December 9, 2010 (AFP) – India’s SpiceJet has ordered 15 Bombardier Q400 NextGen regional aircraft valued at 446 million US dollars, the Canadian company announced Thursday. Gary Scott, president of Bombardier’s commercial aircraft division, said he expects India to buy up to 600 aircraft in the 20 to 149 seat category over the next […]
Bangladesh announces power sector deregulation
DHAKA, December 9, 2010 (AFP) – Bangladesh has announced a sweeping deregulation scheme for its power sector in a bid to ease the country’s crippling electricity shortages, a senior government official said. Foreign investors will now be allowed to set up power plants without winning a government contract and to sell on the national grid, […]
Sri Lanka Janashakthi Insurance rating upgraded
Dec 10, 2010 (LBO) – The claims paying ability of Sri Lanka’s Janashakthi Insurance has been upgraded to ‘A-‘ from ‘BBB+’ with a ‘stable’ outlook, on improving expense and claims ratios RAM Rating Lanka said. “Janashakthi’s rating continues to be supported by the Company’s strong competitive position in the general segment and its moderate underwriting […]
Sri Lanka fabric maker on rating watch negative after fraud allegation
Dec 10, 2010 (LBO) – Fitch Ratings said it placed Hayleys MGT Knitting Mills on ‘Rating Watch Negative’ after the Sri Lankan fabric manufacturer warned of losses when an inquiry revealed discrepancies in inventory and accounts receivables. Fitch has given Hayleys MGT Knitting Mills, a unit of the Hayleys conglomerate, a national long-term rating of […]
Sri Lanka slain customs officer given integrity award
Dec 10, 2010 (LBO) – A Sri Lankan customs officer who was gunned down after he exposed corruption in the customs service was posthumously awarded the National Integrity Award by the corruption watchdog Transparency International. “Corruption is deep rooted in human greed. The temptations and opportunities for corruption are greater today than ever before. Faced […]
Ukraine to attend Nobel ceremony after public pressure
KIEV, December 9, 2010 (AFP) – Ukraine will send a diplomat to the Nobel peace prize ceremony for jailed Chinese dissident Liu Xiabo, a foreign ministry official said Thursday, after Kiev initially joined a boycott led by China. Ukraine will send the first secretary of the Ukrainian embassy in Norway to the ceremony on Friday, […]
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December 9, 2010 (AFP) – A six-year-old girl found at a house in Colombo is believed to have been sold by a hospital worker soon after the 2004 Indian Ocean tsunami, Sri Lankan child protection authorities said Thursday. Staff at the National Child Protection Authority went to the house after neighbours complained that the girl […]
Sri Lanka stocks close down 0.1-pct
Dec 09, 2010 (LBO) – Sri Lankan stocks ended down 0. 13 percent Thursday, with only limited retail participation in the market, brokers said. The All Share Price Index closed at 6,445. 77, down 0.13 percent (8.54 points) while the Milanka index of liquid stocks dipped 0. 04 percent (3.05 points) to close at 6,915.89, […]
Rain Effect
Dec 09, 2010 (LBO) – The scheduled opening of an expressway linking Sri Lanka’s capital Colombo with the south next year will be delayed as heavy rain has impeded construction work on low-lying sections, an official said. The expressway is expected to result in greater economic development of the long-neglected southern region. The first phase […]
Risky Voyage
NAIROBI, December 9, 2010 (AFP) – Somali pirates have released a Saudi oil tanker along with its 14-member crew which they seized nine months ago after a ransom was paid, a maritime watchdog said on Thursday. One act of piracy out of every two worldwide is carried out off the coasts of Somalia or in […]
Convenient Card
Dec 09, 2010 (LBO) – Sri Lanka’s Commercial Bank has begun issuing chip-integrated credit and shopping debit cards under the Visa brand, a statement said. The service of Oberthur Technologies was obtained for the provision of chip cards and chip card personalisation software while equipment provided by Datacard was used for card personalisation. The chip […]
Call Competition
Dec 09, 2010 (LBO) – The removal of a tariff floor by Sri Lanka’s telecommunications regulator could see the resumption of a price war that led to loss among mobile phone operators, Fitch Ratings has warned in a report. “Dialog also benefited from reduced tariff pressure within the mobile industry and its strong market share […]