Category:
Chipset
SAN FRANCISCO, February 9, 2010 (AFP) – US technology titans IBM and Intel on Monday rolled out powerful new computer chips designed for businesses continually demanding more from networks and data centers. Intel introduced an Itanium processor 9300 series developed under the code name “Tukwila” that it touts as delivering twice the performance of prior […]
Cheap loans boost India car sales in January
NEW DELHI, February 9, 2010 (AFP) – India’s car sales rose more than 32 percent year on year in January as demand was boosted by cheap loans and an economic recovery, an industry group said Tuesday. Domestic passenger car sales rose to 145,905 units from 110,300 in the same month last year, according to the […]
Sri Lanka Hemas Power Dec net up 71-pct
Feb 09, 2010 (LBO) – Sri Lanka’s Hemas Power said December quarter net profit rose 71 percent to 142 million rupees from a year ago as thermal power generation costs fell and hydro power hit peak output during the rainy period. Sales of the firm, which supplies power to state-run Ceylon Electricity Board and is […]
Sri Lanka president dissolves parliament
February 9, 2010 (AFP) – Sri Lanka’s president Mahinda Rajapakse on Tuesday sacked the national parliament, clearing the way for a national election two months ahead of schedule, his spokesman said. Rajapakse, who secured 58 percent of the popular vote at the presidential election, has said he hoped to improve his hold on a new […]
‘s defeated presidential candidate arrested
February 8, 2010 (AFP) – The defeated candidate in Sri Lanka’s presidential vote, former army chief Sarath Fonseka, was arrested Monday hours after vowing to give evidence before any war crimes tribunal. State media said Fonseka, who led the army to victory over Tamil Tiger rebels last year, ending a bloody 37-year insurgency, was taken […]
Oil Target
Feb 09, 2010 (LBO) – Gazprom, a Russian oil firm, has held discussions with visiting Sri Lanka president Mahinda Rajapaksa on exploring for oil off the coast of the Indian Ocean island. Cairn has incorporated a local firm to begin oil exploration. Cairn India said the 3D seismic surveys by its local unit, Cairn Lanka, […]
Sri Lanka wraps up US$300mn arms loan with Russia: report
Feb 09, 2010 (LBO) – Sri Lanka has wrapped up a 300 million US dollar loan to buy “armaments and dual purpose technology” from Russia during a visit by President Mahinda Rajapaksa, a media report said. Russia and China have been the main arms suppliers to Sri Lanka during a 30-year war with Tamil Tiger […]
Sri Lanka stocks end up 2.23-pct
Feb 08, 2010 (LBO) – Sri Lankan shares ended higher Monday and turnover was pushed up by big transactions in blue chips with investor V Vijayaratnam raising his stake further in Asia Capital, brokers said. The day’s trading turnover was pushed up by large trades in Asia Capital and several blue chip stocks. Asia Capital […]
Shipping Costs
Feb 08, 2010 (LBO) – Sri Lankan shippers said they anticipate further hikes in freight rates as cargo flows improve after the recession with loss-making shipping lines trying to regain profitability and fewer ships calling Colombo. In the short-term, the latest spike in rates and pressure on ship capacity might ease after next week’s Chinese […]
Sri Lanka Eagle renamed Aviva NDB Insurance
Jan 08, 2010 (LBO) – Sri Lanka’s Eagle Insurance, a unit of Aviva, said it plans to change its name to Aviva NDB Insurance to better face anticipated competition from rival global brands in future. The company said in a stock exchange filing its board has sought shareholder approval for the name change to reflect […]
Prerequisites for making Sri Lanka a hub: Telecom
Feb 08, 2010 (LBO) – Sri Lanka is to become a “Naval, Aviation, Commercial, Energy and Knowledge hub.” What can telecom contribute to the achievement of this vision? If the five-fold hub is to be realized, telecom connectivity with the world and within the country is vital. For all five aspects, cheap, plentiful and high […]
Sri Lanka to dredge more sea sand
Feb 08, 2010 (LBO) – Sri Lanka will appoint a dredging contractor to bring up three million cubic metres of sea sand to supply the domestic market which is running out of river sand and also for export. Sri Lanka Land Reclamation and Development Company (SLLR & DC), a state agency, holds the sole rights […]