Category:
Cheaper Wheels
June 30, 2006 (AFP) – Sri Lanka’s government Friday said it will offer duty free cars and motorcycles to accredited journalists in a bid to ensure the “freedom” of the media.Plan Implementation Ministry Secretary Nivard Cabraal said a scheme to offer tax free cars, motorcycles and computers to journalists would be implemented before the end […]
Serious Contenders
June 30, 2006 (LBO) – More than ten foreign and local telecom operators shown interest in bidding for Sri Lanka’s fifth mobile operator’s licence, the island’s the telecom regulator said Friday. Bidders, which included those from Singapore, India and Malaysia, are keen to get a slot in the mobile phone market which grew over 50 […]
Sri Lanka toll hits 11 as monitors mull truce
June 30, 2006 (AFP) – At least 11 people were killed in fresh violence in Sri Lanka, the military and the Tamil rebels said Friday, as Nordic truce monitors mulled their future role on the troubled island.The LTTE has also warned against Norway’s withdrawal, saying in a statement Monday that war would be “unavoidable” if […]
Cheap Cheap
June 30, 2006 (LBO) – Ceylon Petroleum Corp or Ceypetco has developed a lower octane gasoline for use in three wheelers, motorbikes, the island’s sole oil refiner said Friday. The ‘RON 87 petrol’ has been developed by CPC scientists and engineers to ensure three-wheelers have the right formula for fuel. CPC says three-wheeler taxis can […]
Sri Lanka expects economy to expand by 8% this year
June 30, 2006 (LBO) – Sri Lanka’s economy is expected to grow by a better-than-expected 8.0 percent, this year a senior government official said a day after the central bank forecasted year end growth of 7.0 percent. The bank cautioned that economic expansion would remain vulnerable to an upsurge in violence, as sporadic attacks on […]
‘s inflation rate climbs to 17.7% in June
June 30, 2006 (LBO) – Sri Lanka’s inflation rate for June jumped to 17.7 percent, official figures showed Friday, spurring concerns that the Central Bank may hike interest rates again. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in violence, as sporadic attacks on […]
Sri Lanka’s economy expands 8.1% first quarter: Central Bank
June 29, 2006 (LBO) – Sri Lanka’s 24-billion dollar economy expanded by 8.1 percent during the first quarter of this year, ahead of a recent government forecast of 7.0 percent, the Central Bank said Thursday. The bank, which is forecasting a year-end growth of 7.0 percent said the economy would remain vulnerable an upsurge in […]
Killings slow Sri Lanka’s economic drive: World Bank
June 29, 2006 (LBO) – Sri Lanka’s deteriorating security situation is undermining growth and slowing the island’s attempts to snap out of the poverty trap, a top World Bank official said Thursday. “The political situation and the sustained violence in the recent past are undermining the potential for growth,” the bank’s country head designate for […]
Default Hit
June 29, 2006 (LBO) – Small Sri Lankan banks are facing the threat of weaker credit ratings, following a government move to lift a law that allows banks to speed-up foreclosure on assets pledged against smaller loans.But state banks are excluded from the project.Bankers have already warned that the move to stop parate execution – […]
Off Range
June 29, 2006 (LBO) – Sri Lanka’s cabinet has agreed clear up frequency spectrum on few bands, as the government looks to attract new operators to offer telephony services at affordable rates. œThe cabinet has agreed to clear spectrum in 450 megahertz, 800-900 megahertz, 1800 megahertz and 2-gigahertz radio frequencies, which will be re-allocated for […]
Space clothes saving the lives of Earthlings
PARIS, June 29, 2006 (AFP) – From bras and babysuits equipped with monitors to tough suits to protect sportsmen and adventurers from the hazards of life on Earth, space technology is boldly pushing back fashion frontiers.“The space programme has over the years provided a catalyst for a lot of the progress we are seeing today […]
Sri Lankan president consolidates power
June 29, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse was Thursday elected the all-powerful leader of his party, replacing a scion of the Bandaranaike ruling dynasty for the first time, a spokesman said. Rajapakse, 60, was unanimously elected head of the Sri Lanka Freedom Party (SLFP), consolidating his hold on the government and further […]