Category:
Bald Spot
June 19, 2006 (LBO) – A new securities law giving legal muscle to companies who raise debt by securitising the assets are likely to come through this year as part of a government lending agreement with the Asian Development Bank. Securitisation process which uses future cashflows to back a debt instrument, has been carried out […]
Outback PC
June 19 (LBO) – Intel Corp together with Sri Lanka’s ICT Agency will soon pilot a rugged alternative to the conventional PC for rural areas, running on a car battery if electricity goes out. The dust resistant, low power demand Intel model called a ˜Community PC’, developed and just rolled out in India, could find […]
Joint Force
FRANKFURT, June 19, 2006 (AFP) – Finnish telecommunications giant Nokia and German rival Siemens said Monday they would merge their telecoms equipment and network activities in an attempt to close the gap on market leader Ericsson. Nokia and Siemens said in a joint statement they planned to set up a 50-50 joint venture, to be […]
‘s new Human Rights Council works
GENEVA, June 19, 2006 (AFP) – The new UN Human Rights Council, which started its first-ever session here Monday, is made up of 47 nations who pledged before they were elected to respect international human rights standards.The body aims to be more effective than the widely-criticised UN Commission on Human Rights, which was disolved in […]
Bangladesh garment workers to stage fresh protests for wage hikes
DHAKA, June 19, 2006 (AFP) – Bangladesh garment workers will stage a series of mass protests this week to demand a 30 percent salary hike amid continuing unrest, officials said Monday. The planned demonstrations follow rioting last month in which 16 factories were torched and hundreds ransacked by employees. At least two people were killed […]
Sri Lanka invites Tigers to talks after bloody weekend
June 19, 2006 (AFP) – Sri Lanka Monday invited Tamil Tiger rebels to negotiate peace and save their collapsing ceasefire as two more soldiers were killed in a weekend of violence that left over 50 people dead. Defence officials said security forces Monday found the bodies of two soldiers shot dead by Tamil Tiger guerrillas […]
Sri Lanka police investigate Tigers’ limpet style sea mines
June 18, 2006 (AFP) – Sri Lankan police Sunday were investigating a new type of improvised sea mine developed by Tamil Tiger rebels to target naval craft, police chief Chandra Fernando said Sunday. Police have questioned four of five men arrested Saturday while laying the mines, which are similar to limpet mines. They stick magnetically […]
Taxing Problem
June 18, 2006 (LBO) – Sri Lanka’s financial sector has been a favorite target of fiscal authorities during the past few years. In addition to an increase in the income tax rate, the sector also has a debit tax on cheque transactions, a turnover tax on credit cards, and another income tax based tax called […]
Alert after Sri Lanka fighting, fresh mine kills three police
June 18, 2006 (AFP) – A mine attack blamed on Tamil Tiger rebels killed three Sri Lankan police Sunday following a day of fierce land and sea battles that left more than 50 people dead.Peace broker Norway last week failed to arrange face-to-face talks between the Colombo government and the LTTE in Oslo. The constables […]
Sri Lanka army chief in Singapore for treatment after bomb attack
June 18, 2006 (AFP) – Sri Lanka’s army chief Sarath Fonseka who survived a suicide bomb assassination attempt two months ago has been flown to Singapore for medical treatment, military officials said Sunday. Lieutenant General Fonseka, who was critically wounded in the bomb attack carried out inside the tightly-guarded army headquarters here on April 25, […]
‘ limpet style sea mines
June 18, 2006 (AFP) – Sri Lankan police Sunday were investigating a new type of improvised sea mine developed by Tamil Tiger rebels to target naval craft, police chief Chandra Fernando said Sunday. Police have questioned four of five men arrested Saturday while laying the mines, which are similar to limpet mines. They stick magnetically […]
Burning Low
June 18, 2006 (LBO) – Sri Lankans have been urged to crawl under the sheets early, turn up the heat on air-conditioners and give up late night football to save energy¦..or not. But despite the best laid plans, “what people really respond to is price”, Siyambalapitiya says, over any real goodwill to dim the lights […]