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Sri Lanka to raise another US$150 mn bonds in Aug.
July 28, 2006 (LBO) – Sri Lanka plans to raise another 150 million dollars in development bonds next month to bridge the rising budget deficit, though there are market expectations that the government may issue more.The dollar bond issue will be offered to the market next week, with subscription closing on August 18, Central Bank’s […]
Taking Flight
July 29, 2006 (LBO) – Malaysias top budget airline AirAsia is in talks to buy up a minority stake in local carrier Holiday Air, which is due to start international flights next year. Ruzaik says he hopes to have the technical plan for Holiday Air complete by October this year, after which recruiting for the […]
Hong Kong Hub
July 28, 2006 (LBO) – Sri Lanka Telecom, the island’s biggest fixed line operator, announced plans Friday to float a fully owned subsidiary in Hong Kong to extend their data network to the South Asian region. The telco’s chief Shuhei Anan said SLT Hong Kong Ltd will operate as a point of presence allowing the […]
Sri Lanka truce hangs by thread
July 28, 2006 (AFP) – Sri Lanka’s ceasefire hung by a thread Friday as Tamil Tiger rebels and government forces traded artillery fire and Finland announced its truce observers would leave the country.More than 60,000 people have been killed in the three-decade-old Tamil separatist conflict. Sri Lankan war planes struck a Tamil Tiger base Friday, […]
Finland to pull out Sri Lanka observers
HELSINKI, July 28, 2006 (AFP) – Finland said Friday it would recall its ceasefire monitors from Sri Lanka, sparking fears of increased violence between the Sri Lankan government and Tamil Tiger rebels on the wartorn island.The Finnish foreign ministry announced it would withdraw its 10 observers on security grounds before a September 1 deadline set […]
Sri Lanka air raids kill six rebels, Tamil Tigers say
July 28, 2006 (AFP) – At least six rebels died and eight people were wounded when Sri Lankan warplanes attacked a Tamil Tiger camp, a rebel leader said Friday as both sides traded artillery fire. Three civilians were among the injured during the air raids over Trincomalee district on Thursday, Liberation Tigers of Tamil Eelam […]
Sri Lanka to hold aid parley in Dec; asks donors to fund mega projects
July 28, 2006 (LBO) – Sri Lanka is asking donors to concentrate on helping to build mega infrastructure projects, when the annual aid parley meets in December, treasury secretary P B Jayasundara said. The government wants lenders to channel more money to build roads instead of issuing warning signals about a faltering peace process and […]
Trade Freeze
GENEVA, July 27, 2006 (AFP) – World Trade Organisation nations endorsed on Thursday suspension of free-trade negotiations after they collapsed on Monday, diplomats and trade officials said. Several countries attacked the so-called G6 of leading trading powers for refusing concessions to open the way for a treaty and said that progress made so far must […]
Tsunami Alert
JAKARTA, July 27, 2006 (AFP) – Indonesian officials said Thursday they plan to install sirens on mobile phone towers to alert coastal areas to potential tsunamis, following a second killer wave in the archipelago nation in as many years. Installation of the sirens will be completed by the end of 2006, said Paryatmoko, tsunami early […]
Turbo Charge
July 27, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Thursday posted a 43 percent increase in net profits for the six months to June, as subscriber growth lifted revenues. A unit of Telekom Malaysia, Dialog Telekom, reported a 4.93 billion rupee group net profit, while revenues soared 51 percent to 12.28 […]
Airlines must look at alternative fuels to boost efficiency: IATA
GENEVA, July 27, 2006 (AFP) – Airlines must adapt to high oil prices and explore changes such as alternative fuels to regain profitability despite a 6.7 percent growth in passenger traffic during the first half of 2006, the top industry association said Thursday.Airlines are still battling for financial prosperity despite growing revenues and better load […]
Sri Lanka warplanes bomb Tiger airfield
COLOMBO, July 27, 2006 (AFP) – Sri Lankan warplanes bombed a clandestine airfield being built by Tamil Tiger rebels Thursday, the second day of bombardment against the guerrillas, the defence ministry said. The rebel Liberation Tigers of Tamil Eelam (LTTE) had cleared a jungle patch just north of the district of Trincomalee and were building […]