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Finance Advisory
Aug 04, 2011 (LBO) – Malaysia’s CIMB financial group has formed a joint venture in Sri Lanka to target investors in East Asia as the island’s growth picks up after a 30-year war and opportunities come up in areas including infrastructure, officials said. CIMB Holding group will hold 51 percent of the Sri Lanka venture […]
‘s Citrus Leisure buys travel agency
Aug 04, 2011 (LBO) – Sri Lanka’s listed Citrus Leisure said it had bought a 51 percent stake in Lotus Travel International (Pvt) Ltd, a firm incorporated in 2004 to act as a travel agency, for 612,000 rupees. The filing did not say the travel firm had any operating business. The firm said in a […]
Sri Lanka Heritance Ahungalla wins top culinary awards
Aug 04, 2011 (LBO) – Heritance Ahungalla, an Aitken Spence group hotel has won the top award for the best hotel team and best culinary team overall in Sri Lanka’s Culinary Art 2011, the islands largest food and trade exhibition and competition. Aitken Spence said its hotels had won 145 medals in the competition where […]
Mobile Momentum
Aug 04, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group said June 2011 quarter net profit was stagnant at 1. 4 billion rupees from a year ago with sales up 8.9 percent to 11 billion rupees. Losses from the group’s television operations were also reduced to 12 million rupees from a loss […]
Sri Lanka Union Assurance net up 21 percent
Aug 04, 2011 (LBO) – Sri Lanka’s Union Assurance said net profits rose 21 percent to 64. 5 million rupees in the June 2011 quarter with gross written premium rising 27 percent to 1.89 billion rupees. The firm reported 86 cents of earnings per share for the quarter and 1. 64 rupees for the six […]
Sri Lanka power firm net up 9-pct on thermal sales
Aug 04, 2011 (LBO) – Sri Lanka’s Hemas Power said profits for the June 2011 quarter rose 9-pct to 86. 8 million rupees with thermal revenues making up for hydro energy generation which was hit by low rainfall. Revenues rose 37 percent to 1,000 million rupees but generation costs rose 51 percent to 885 million […]
T20 Champions League loses sponsor: report
NEW DELHI, August 3, 2011 (AFP) – The much-hyped Twenty20 Champions League has lost its title sponsor due to lack of interest in the multi-nation club tournament, Indian media reported on Wednesday. The Champions League was launched by the cricket boards of India, Australia and South Africa in the wake of the hugely popular Indian […]
Sri Lanka Treasuries yields steady
Aug 03, 2011 (LBO) – Sri Lanka Treasuries yields were flat across maturities at Wednesday’s auction, data from the government’s debt office showed. The 3-month yield was at 7.11 percent, the 6-month yield was at 7. 19 percent and the 12-month yield was at 7.25 percent, unchanged from the last two weeks. The debt office, […]
Sri Lanka stocks becalmed
Aug 03, 2011 (LBO) – Sri Lanka’s main share index closed slightly weaker Wednesday for the second straight day with mainly retail investors in the market and turnover lower than usual, brokers said. East West Properties made the highest contribution to turnover, Lanka Securities said. “The share displayed high volatility during the day.” The main […]
Port Forum
Aug 04, 2011 (LBO) – Sri Lanka is to host an annual meeting of the international ports association alongside an air freight and shipping exhibition to promote the island as a logistics hub after the end of a war. “South Asia including Sri Lanka is expected to increase container throughput at a faster speed than […]