All Blogs
Margin Growth
July 21, 2010 (LBO) – Sri Lanka’s Seylan Bank group net profit shot up 66 percent to 312 million rupees in the June 2010 quarter from a year ago as interest margins improved, a stock exchange filing said. Deposits and performing loans grew slightly and the bank managed to reduce bad loans. Interest income fell […]
Equity Fund
July 21, 2010 (LBO) – New York based Logan Rockefeller Global (LR Global) is planning to invest 20 million US dollars in Sri Lanka through a newly set up local unit, which itself is planning a public listing as early as next year, officials said. “We are looking at Sri Lanka as a market that […]
Two Sri Lanka beaches make top grade: Forbes
July 21, 2010 (LBO) – A beach stretch from Tangalle Bay to Weligama in Sri Lanka’s south and Bentota in the southwest have been named among the top 10 in Asia by Forbes, a business magazine. Sri Lanka is expecting 600,000 tourists this year and 2. 5 billion by 2016. The New York Times has […]
‘s five-star Murali makes India follow-on
GALLE, July 21, 2010 (AFP) – Spin wizard Muttiah Muralitharan grabbed five for 63 in his final match as Sri Lanka made India follow on in the first Test on Wednesday in Galle. The off-spinner took his career tally to 797 wickets as India were shot out for 276 in reply to Sri Lanka’s 520-8 […]
Murali magic sets India back in rain-hit Test
GALLE, July 20, 2010 (AFP) – Retiring spin wizard Muttiah Muralitharan dismissed Sachin Tendulkar cheaply as Sri Lanka seized control of the rain-ravaged first Test against India on Tuesday. The world’s most successful bowler, who was eight short of the 800-wicket mark in his final appearance, trapped batting record holder Tendulkar leg-before for eight before […]
Sri Lanka business wants action on loss-making state entities
July 21, 2010 (LBO) – The head of Sri Lanka’s top business chamber has called for loss-making state entities which are a drain on public finances to be turned around within a strict time frame or more radical alternatives considered. Ceylon Chamber of Commerce chairman Anura Ekanayake said recent reductions in inflation and interest rates […]
Sri Lankan stocks close up 1.82-pct
July 20, 2010 (LBO) – Sri Lankan stocks closed up passing the 4,800 point mark Tuesday with price gains across the board, while large deals on Dankotuwa Porcelain and John Keells Holdings (JKH) boosted turnover, brokers said. Dialog Axiata closed at 10.00 rupees, up 10.00 with 8.1 million shares traded, and Sri Lanka Telecom closed […]
Sri Lanka leisure industry in boom but profits still elusive
July 20, 2010 (LBO) – Sri Lanka’s hoteliers say 10 billion US dollars have to be invested to more than double the country’s hotels rooms to 35,000 by 2016 to cater to an expected 2.5 million tourists, but the journey is not a cake walk. Investment Plans Sri Lanka’s Amaya Leisure says it wants to […]
Tele Spend
July 20, 2010 (LBO) – Sri Lanka’s Etisalat unit said it was spending 163 million US dollars to expand its network into war ravaged north of the country and improve its broadband services in urban areas. The expansion will see 480 new base stations taking the total to 1580, which the firm says will be […]
SriLankan Airlines expands fleet, plans new destinations
July 20, 2010 (LBO) – SriLankan Airlines has taken delivery of its latest A330-200 wide-bodied aircraft as part of the national carrier’s expansion programme that will double the fleet and add new destinations, a senior official said. Wickremasinghe said SriLankan Airlines plans to fly to Moscow as well as a fourth destination in China soon. […]