All Blogs
Lower Loss
Sept 16, 2010 (LBO) – Sri Lanka’s The Finance Company (TFC) reduced losses to 431 million rupees in the June 2010 quarter compared with a loss of 693 million rupees the year before, a stock exchange filing said. Interest income fell 42 percent to 660 million rupees while interest expenses fell 45 percent to 814 […]
Personal Investment
Sept 15, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of Sri Lanka’s NDB Bank and UK’s Aviva has launched four mutual funds that can be easily customized to suit the investment needs of individual savers, officials said. The mutual funds could also be backed by bank fixed deposits from NDB Bank […]
Sri Lanka releases Economist magazine
Sept 16, 2010 (LBO) – Sri Lanka has allowed its citizens to read the latest issue of The Economist magazine, which carries a story on a controversial change in the country’s constitution after being held back by customs authorities for nearly a week. Sri Lanka is recovering from a 30-year ethnic war with Tamil separatists, […]
Sri Lanka economy grows 8.5-pct: statistics office
Sept 16, 2010 (LBO) – Sri Lanka’s economy is estimated to have grown by 8.5 percent during the second quarter of 2010 from a year earlier, which is the highest quarterly growth rate recorded since 2002, the government’s statistics office said. Higher costs had reduced chicken production by 5.2 percent and eggs by 0.9 percent. […]
Sri Lanka to rebuild fishery harbours in war-torn north
Sept 16, 2010 (LBO) – Sri Lanka will rebuild two fishery harbours in the north of the island as part of a strategy to develop maritime resources in the region which is recovering from a war, a government minister said. “This is a clear indication of the governments vision in moving forward in the development […]
Sri Lanka stocks close up 1.03-pct
Sept 15, 2010 (LBO) – Sri Lankan shares closed higher Wednesday with heavy trading in low value shares, brokers said. The All Share Price Index closed at 6,238.45, up 1.03 percent (63.39 points) while the more liquid Milanka index rose 0. 56 percent (36.45) to close at 6,488.71, according to stock exchange provisional figures. Turnover […]
News Trend
HONG KONG, September 15, 2010 (AFP) – Asian newspapers are defying the global print media meltdown while their counterparts in the West spill red ink and lay off staff in droves as readers flock to online news. Print advertising — the lifeblood of a newspaper’s revenue base — has plunged 47 percent in the hard-hit […]
Reduced Risk
Sept 15, 2010 (LBO) – Standard & Poor’s Ratings Services has raised the long-term local currency corporate credit rating on Sri Lanka Telecom (SLT) to ‘BB-‘ from ‘B+’ with a stable outlook, a statement said. At the same time, Standard & Poor’s confirmed the ‘B+’ long-term foreign currency corporate credit rating on the company and […]
Soft Support
Sept 15, 2010 (LBO) – Firms in an industrial park in Sri Lanka are getting enterprise resource planning software (EFP) from Swedish based IFS, in as little as six weeks, making it a record for implementing such software, officials said. IFS software comes in modules which can be implemented at each firm connected to the […]
Sri Lanka Islamic insurer short of compliant investments
Sept 15, 2010 (LBO) – Amana Takaful, an Islamic insurer in Sri Lanka says the market does not have enough investment vehicles that are compliant with Shariah laws and also local regulations, where it can invest funds. Investment income from bank had fallen to 18.7 million rupees in 2009 from 36.2 million rupees a year […]