Networks' broadband dialogue Limited (DBN), a wholly owned subsidiary of Sri Lanka
The final implementation of the acquisition will satisfy the conditions precedent to the operation defined in the SPA.
The successful consummation of the transaction during the course of the coming months is expected to bring to the merger of operations and Suntel DBN and the creation of a new entity, providing advanced line and fixed broadband services to Sri Lanka
Suntel began operating in 1996 and currently is a subsidiary of Swedish telecom operator Telecom AB Sri Lanka
"I think the industry consolidation that crystallizes the economies of scale and brings together the shared effort and investment capacity of the leading players in the industry is an optimal strategy to provide value to consumers and industry in general in the future. The agreement came into our DBN shareholders paves the way for a renewed investment in Sri Lanka
The share purchase agreement signed between DBN and the shareholders of Suntel provides that the transaction is completed in an EV (Enterprise Value) in the range of U.S. U.S. $ 33.9 m $ 34.9 m, which corresponds to a valuation multiple of 3.0 x 3.1 x EBITDA for FY10, depending on the outcome of the confirmation business valuation and due diligence during the period prior to the completion of the transaction . President of the broadband networks of dialogue and CEO of Group PLC dialogue Dr. Hans Wijayasuriya Axiata Commenting on the transaction, he said, "We are privileged to have had the opportunity to combine with Suntel through this initiative beachhead industry consolidation. In the future, the combined forces of DBN and Suntel is synergised towards establishing a better platform for the kind of infrastructure to supply high quality telecommunications and fixed broadband services, which are expansive in its availability, and inclusive in terms of accessibility to the citizens of Sri Lanka
The negative publicity has caused the public to lose confidence in the Colombo Stock Exchange. We, the Colombo Brokers Association (CSBA) want to state categorically that we are unequivocally committed to the development of capital markets, while appreciating a balanced approach to market regulation.
In this regard, we very much welcome a consultative approach through which could be a majority consensus obtained before the introduction of new regulations for the market, the association said.
In the recent past, the CSBA has seriously sought some changes in policies for development strategies in the equities market and stay in line with the overall macroeconomic objectives set by the government in the post war in Sri Lanka
Towards achieving this goal, we went through a series of meetings that began with the Management Board and SSC, the Securities and Exchange Commission (SEC) and finally with the President, Mahinda Rajapaksa, who gave the CSBA's opportunity to place their proposals for consideration. All 28 registered shares of brokerage firms were invited CSE individually to attend the meeting with the President, and attended 22 of them.
We would point out that the granting of credit is a basic need in any industry and all brokerage firms in almost all countries offer margin trading facilities directly or through related companies. Our proposals were presented as an action plan to boost the participation of investors and restore confidence in the Colombo Stock Exchange. The Association would like to reiterate that we fully support the regulations and the measures taken against the wicked, and would shortly adopt a code of ethics to ensure that all members follow the rules and regulations in line with best international practices, the association said .
The CSBA has been in existence since 1995 and our members have played an active role in the Colombo Stock Exchange (CSE) and have always acted in the best interest of market development File Sri Lanka. (SJ)
More than 500,000 candidates are sitting the GCE Ordinary Level examination which began in 3920 centers yesterday. The first document was religion.
According to Examinations Department sources, 385,000 and 146,000 private school candidates sitting the examination candidates this year. Department officials said they have issued guidelines and instructions for the test center is aimed at preventing irregularities.
Meanwhile, 62 former leaders of the LTTE, rehabilitated by the government, submitted for consideration at the Central University of Tamil in Vavuniya yesterday.
Meanwhile, the Ministry of Rehabilitation Secretary Dissanayake told the Daily News that 77 students in rehabilitation centers and more than 20 people in prison Welikada sit O / L examination this year.
The review ends on December 21
National Geographic Traveler magazine, the island country's heritage sites, wildlife, lush landscape and beautiful beaches Lauding, world travelers in 2012 among the top six places in the name of Sri Lanka.
Sri Lanka, Traveler in its November / December magazine writes, resplendent island, and marvel at the fact that almost kiss the southeastern tip of India, Indian Ocean, the pear - shaped by the island's natural character marks.
In the hill country of Sri Lanka
Heritage sites in Sri Lanka
It opens the door to increased tourism, which in 2009 was able to defeat the LTTE against the terrorist group, refers to the successful completion of the recent conflict.
Today peace prevails, said Traveler.
Travel to Sri Lanka
The highest number of tourists in Sri Lanka Tourism Development Authority is expected to reach $ 2.5 million during 2015, a 30,000 hotel - the room has outlined a plan to achieve the capacity. Special attention and tourist-related industries has increased service levels.
More recently, such as Starwood (Sheraton), Marriott, Shangri La and Taj Hotel Chains than that of Sri Lanka
National Geographic have also raved about Sri Lanka , its 2010 first missions, and includes many popular tourist sites in Sri Lanka
The system, when using mobile phones and other electronic devices have been violating the law of cyber crime in general is now the Department of Criminal Investigation (CID) can express.
Cyber crime and associated CID, 0112380380 and 0112422176 or send an e-mail dig.cid @ police.lk oic.cidcom @ police.lk or can inform you about the related activities.
To deal with cyber crimes and increased the counter number, CID forensic laboratories and the Internet has created. CID has already established a Cyber Crime Lab and a digital forensics laboratory.
Department had already arrested the suspects and the courts have produced a number of Internet crimes, has investigated about 100 cases.
The Computer Emergency Response Team under the Cyber Crime Laboratory ICTA (CERT) was established in 2007 with assistance. The handling of 2007, the computer hacking, unauthorized access to any individual 24 involved, under the Computer Crime Act not, without authorization data, corrupting and destroying the collection must be taken into custody.
The cyber crime, national security, economics, and offenses against public order and criminal breach of trust that are screened against the crimes.
In many countries, the importance of confronting the government during the period identified in the laboratory it is very poorly established.
Conducts online digital forensics investigation to identify and track down suspects CID. They identify suspects of crimes and conducting online investigations and computer forensics.
In Sri Lanka
Crimes that target computer networks or devices primarily for computer viruses and denial - of - service attack, and ends Cyber - stalking, fraud, identity theft, information warfare, and phasing scams (SD), including the advance of computer networks, or devices that include the use of
There is not permanent enemy in Politics; there is no friend like era a chance to forget their differences and varying the Sri Lankan leaders to meet the wedding party, family celebration. If you enjoy watching that .
The Pakistan Navy Ship SAIF will be on a goodwill visit to Sri Lanka
Pakistan Navy ships frequently pay port visits to Sri Lanka
The Pakistan Navy Ship SAIF is the third ship of SWORD class F22P Frigates, which has been built in China
SAIF, being the front line ship of Pakistan Navy, is equipped with state-of-the-art weapons, sensors and machinery, making it capable of undertaking all kinds of maritime operations at sea during war and peace. In pursuit of promoting bilateral relations, Pakistan Navy provides a number of training courses for Sri Lankan Navy personnel.
Both countries share their experience to further enhance the potential for sharing of military knowledge and expertise, particularly in the face of emerging terrorist threat,
The Pakistan Navy ship SAIF will conduct a passage exercise with the Sri Lankan Navy, upon conclusion of the port visit.
The Sri Lanka Institute of Tourism and Hotel Management (SLITHM) has called for applications for 2012 to train personnel for the tourism industry.
They will conduct a three-month practical course, five-month certificate course, intermediate course and a national diploma course in hospitality management, under the theme Taking Sri Lanka to Global Heights
The courses will be on vocational cooking, canteens and restaurant services, hotel housekeeping and hospitality.
Both males and females can apply. Priority will be given to students who had followed home science at the G.C.E.(O/L) examination and students who had followed courses at SLITHM.
Courses will be held at SLITHM and its islandwide branches such as Kandy
The closing date for applications is December 5.
more details click here
The Coconut Research Institute of Sri Lanka (CRI) signed an MoU recently with the World Agro-forestry Centre in Nairobi , Kenya
The CRI is the first research institute established in the world as far back as 1929 to undertake research in coconut production.
The World Agro-forestry Centre is an international research centre under the Consultative Group on International Agricultural Research (CGIAR) of the Food and Agriculture Organization mandated to develop agro-forestry in tropical countries in the world.
This MoU will establish a new framework to strengthen ties between these two institutions in the field of agro-forestry research and development in coconut lands to increase productivity and profitability.
The research will concentrate on growing high value fruit crops such as pineapple, mango, rambutan and spices and beverages such as coffee, cocoa and cinnamon, and rearing of livestock such as cattle, goats, sheep and poultry.
Under this MoU there are provisions for the exchange of scientific and technical know how exchange of agro-forestry professionals, enhancement of coorporation with other coconut growing countries in the region, and other national and international research and development organizations.
This MoU signing ceremony was held at Galle Face Hotel recently, under the patronage of Coconut Development and Janatha Estate Development Minister Jagath Pushpakumara and Agriculture Minister Mahinda Yapa Abeywardena. Ministry Secretary Anura Siriwardena and the World Agro-forestry Centre Director General Dr. Tony Simons signed the agreement on behalf of the two institutions.
CRI Chairman Prof. H.P.M. Gunasena, Director Dr. Jayantha Gunathilaka, World Agro-forestry Centre South Asia Regional Director Dr. W.P. Singh and a large number of distinguished guests also participated.
The 55 kilometre track from Pallai to Kankesanthurai will be reconstructed at a cost of US $ 150 million provided by the Indian government at concessional terms as part of Indian Line of Credit of US$ 800 million.
IRCON International, a leading construction firm in India Madhu Road
Transport Minister Kumara Welgama said that the northern people are eagerly waiting to see the Yal Devi train travel up to Kankasanthurei. That is why, the Transport Ministry decided to expedite the Northern railway track project.
"We expect to complete the construction within the next two years," the minister said. "This will also help to reduce the traffic congestion," he added. The government has realized the impotence of developing the public transport system.
Therefore, huge amounts of money will be allocated through the upcoming budget to uplift the railway service for the benefit of the public. Indian High Commissioner in Sri Lanka , Ashok K. Kantha said a joint venture between India and Sri Lanka
The Trial-at-Bar in a divided judgement found former Army Commander Sarath Fonseka guilty of making a false statement to Sunday Leader senior journalist Frederica Jansz that Defence Secretary Gotabhaya Rajapaksa had told Brigadier Shavendra Silva to eliminate LTTE cadres who came with white flags to surrender during the final stage of the war.
Fonseka was sentenced to a three year jail term. In addition to the jail term, he was fined Rs 5,000. In default of the fine, he was sentenced to a further six months’ jail term.
The Bench comprised Colombo High Court Judge Deepali Wijesundera, (President), Colombo High Court Judge WTMPB Warawewa and Colombo High Court Judge M Z Razeen.
Colombo High Court Judge Wijesundera and Colombo High Court Judge Razeen found Fonseka guilty of the first count.
Colombo High Court Judge Warawewa found Fonseka not guilty of any of the charges preferred against him.
Fonseka was also charged under the Criminal Procedure Code and under Emergency Regulations Sections 28 and 29.
After the order was delivered, Fonseka addressing the court, said that he will never accept the order given by the Colombo High Court judges.
Defence Secretary Gotabhaya Rajapaksa, Sunday Leader Senior Journalist Frederica Jansz, Court Registrar and several others gave evidence for the prosecution.
UNP MP Karu Jayasuriya, JVP MP Anura Kumara Dissanayake, Sukumar Rockwood of an NGO, Prof. Ashley Halpe and several others also gave evidence for the defence.
During the trial, Fonseka made a dock statement.
Deputy Solicitor General Buwaneka Aluvihara with Senior State Counsel Dilan Ratnayake, State Counsel Lakmini Girihagama and State Counsel Riyaz Bary appeared for the Attorney General.
Senior Attorney Nalin Ladduwahetty with Nilanthi Peiris, Ajith Pathirana, U L G Bandara, Mervyn de Silva, Wasantha Pitigala, Niroshan Perera, Kelum Ubeysekera, Swarna Bandara and Chathura Anushka Amaratunga appeared for Fonseka.
He high-powered delegation led by Sri Lanka
Nafeek was convicted of murdering a four-month-old infant in Dawadmi on May 2005. The warm welcome accorded to the visiting panel raised fresh hopes for the release of death row housemaid Nafeek.
Other members of the visiting team included Foreign Employment Promotion and Welfare Ministry Secretary Nissanka N. Wijeratne, Sri Lanka Bureau of Foreign Employment (SLBFE) Chairman Kingsley Ranawake, External Affairs Ministry Additional Secretary Ibrahim Sahib Ansar, Mohammed Sheriff Mohammed Thowfeek, a Sri Lankan member of Parliament who works in Nafeek’s constituency, Abdul Hameed Mohammed Azwer, senior legislator, Muslim Theologians Council Secretary-General M.S.M. Thassim and Imran Jamaldeen and M.B.M. Zarook.
According to legal experts, Nafeek can only be saved if she is pardoned by the victim’s family.
The pardon can be offered with or without a request for blood money.
“We are leaving the shores of the Kingdom with an ardent hope of getting this convicted maid released on humanitarian grounds,” Thassim told Arab News on Friday on the eve of his departure.
“We were given a warm welcome by the members of the Otaibi family in Dawadmi under the leadership of Faihan, who said he would do all that is possible under Islamic law to release the maid who was a victim of circumstances,” Thassim noted.
Speaking on the occasion, Jamaldeen said the Sri Lankan government respects the laws of the host country. “We only seek pardon from the parents of the deceased infant according to Islamic Shariah.”
He added that the visit opened a new chapter in the relations between the Otaibi family and the government of Sri Lanka
Gov. Mowlana told Arab News that he was happy that the visit opened a dialogue between the two parties. He said he was positive that the parents of the deceased child would graciously pardon the maid on sympathetic grounds.
The governor thanked the Saudi government and its embassy in Colombo
The delegation also met Mirdath Fahad Al-Otaibi, grandfather of the deceased infant. Mirdath told the visiting team that he would negotiate for a pardon from his daughter and son-in-law Naif Jiziyan Khalaf Al-Otaibi to release the maid from death row.
Nafeek was sentenced to death by a three-member bench at Dawadmi High Court for killing the baby she was entrusted to look after in the absence of her Saudi employers at home. The accused maintained that the newborn choked during bottle-feeding, and that she tried to seek help.
In August this year, the Royal Court
HAWAII: The United States urged Asia Thursday to do more to stimulate global growth to offset the eurozone crisis, ahead of a summit in Hawaii where Washington is seeking to shape the rules for the emerging Pacific region.
After hosting a meeting of Asia-Pacific finance ministers, US Treasury Secretary Tim Geithner said talks had been dominated by how to make growth more balanced and sustainable in the future, given the crisis in Europe.
Geithner had a stark message for leaders such as Chinese President Hu Jintao and Japanese Prime Minister Yoshihiko Noda gathering in tropical Honolulu for this year’s Asia-Pacific Economic Cooperation (APEC) forum. “Asian economies will need to do more to stimulate domestic demand growth, both so they are less vulnerable to slowdowns, such as the situation in Europe, and so they can continue to contribute to global growth,” he said.
APEC’s 21 member economies account for about 40 percent of the world’s population, more than 50 percent of its gross domestic product and 44 percent of global trade.
“While APEC economies are the most vulnerable to a global slowdown, they can also play the greatest role in contributing to the global recovery and establishing the foundations of strong, sustainable, and balanced future growth,” Geithner said.
Europe warned Thursday that the debt crisis was dragging the region towards a new recession as Greece chose a new prime minister to try to pull it back from the brink of financial disaster and Italy too lurched into crisis.
In Honolulu, where US President Barack Obama hopes this weekend to unveil the broad outlines of a landmark trade pact, there were signs of tensions between the United States and the Asia-Pacific’s other dominant power, China.
Secretary of State Hillary Clinton, previewing the US message for the summit of the 21-member APEC forum, said the region stands at a “pivot point” as it becomes “the world’s strategic and economic center of gravity.”
Saying that the post-World War II institutions between the United States and Europe had paid “remarkable dividends,” Clinton said the time had come for “a more dynamic and durable trans-Pacific system.”
The top US diplomat insisted that the United States welcomed a “thriving China,” saying it was not in either country’s interest for Washington to try to contain the rising Asian power.
But Clinton, who later held talks with Chinese Foreign Minister Yang Jiechi, voiced concern about Beijing’s record both on human rights and the economy.
“We are alarmed by recent incidents in Tibet of young people lighting themselves on fire in desperate acts of protest as well as the continued house arrest of the Chinese lawyer Chen Guangcheng,” she said.
“We continue to call on China to embrace a different path.”
The United States hopes to point to concrete results from its chairmanship of APEC, and finance ministers met Thursday to find ways to shield the region from chaos in the eurozone.
“We are all directly affected by the crisis in Europe, but the economies gathered here are in a better position than most to take steps to strengthen growth in the face of these pressures from Europe,” Geithner said.
“In this context, the principal focus of our discussions was how to help strengthen growth around the world and make it more balanced and sustainable in the future.”
Obama is expected to announce a tentative free trade deal called the Trans-Pacific Partnership (TPP) with eight other nations, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. Japan’s Noda is seriously considering bringing the world’s third largest economy into the talks, a step that would move the once-obscure pact closer to becoming an Asia-wide trade deal. HONOLULU, Friday, AFP
Sri Lanka Monday called for tougher action against Somali pirates operating in the Indian Ocean and said multinational efforts had so far proved insufficient to deal with the threat.
Top defence official Gotabhaya Rajapakse asked maritime powers to share intelligence and ensure joint and coordinated patrols in a region which accounts for more than 50 per cent of the world's container cargo traffic.
"Existing international maritime laws and practices have proven ineffective in combating the activities of the Somali pirates," Rajapakse said at a regional conference on maritime security organised by Sri Lanka's navy.
His remarks came after Maldivian President Mohamed Nasheed announced Friday that his atoll nation was working with Sri Lanka and India to work out a strategy to deal with Somali pirates.
Nasheed said they had arrested 37 Somali pirates who were drifting near the Maldivian archipelago, but lamented that they lacked laws to deal with them as they appeared to be unarmed at the time they were detained.
"By the time they drift towards our coasts, they have thrown their weapons and ammunition overboard and pretend to be refugees," Nasheed told reporters after a South Asian summit in the Maldives.
Rajapakse said Sri Lanka too had arrested an unspecified number of Somali pirates.
"It is clear that the activities of the pirates are spreading at a rapid pace. Thousands of people have been affected by their attacks over the last several years," Rajapakse said.
He added that the cost to international shipping from piracy was close to $10 billion a year.
"It is our belief that the lasting solution to threats of this nature cannot be undertaken by individual nations in isolation, but only through greater international cooperation," he added.
US deputy assistant secretary of defence for South and Southeast Asian Affairs Robert M. Scher said Washington was looking at an increased role in the Indian Ocean to ensure global security and stability.
"I would like to reiterate that the US is increasingly attuned to the strategic importance of the Indian Ocean region, not only to our own national defence and economic security, but to global security and stability," he told the conference.
Two decades of lawlessness have carved up Somalia into mini-fiefdoms ruled by gunmen and militia, encouraging rampant piracy.
At least 47 foreign vessels and more than 500 sailors are being held by pirates, according to Ecoterra International, which monitors maritime activity in the region. (Source: AFP)