All Blogs
Sri Lanka to conduct first nation-wide census after 30-years
August 4, 2009 (LBO) – Sri Lanka is getting ready to conduct its first nation-wide census, covering all 25 administrative districts for the first time in 30-years following the end of a decades long war, an official said.“The next census will be held in 2011, and we are now preparing for it, and we will […]
Sri Lankan stocks close down
Aug 03, 2009 (LBO) – Sri Lankan shares closed down Monday as investors became defensive, hoping the market to pick-up in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.54 percent (13.55 points) to end at 2,512.15 Monday, while the Milanka index of liquid stocks lost 0.61 percent […]
Trade Links
Aug 03, 2009 (LBO) – A professional body representing Sri Lanka’s transport and logistics sector said it plans to get industry professionals together to lobby for better connectivity and less red tape. “With the end of 30 years of turmoil we’re now in a position to contribute significantly to develop many areas affected by war.” […]
Fresh Capital
Aug 03, 2009 (LBO) – Sri Lanka’s Seylan Bank said it plans to issue 86 million ordinary shares at 35 rupees each in a one-for-two public offering to existing shareholders and a private placement with two state-run financial institutions.The current stated capital of Seylan Bank is 2.5 billion rupees comprising of 43.56 million ordinary shares, […]
Slow Quarter
Aug 03, 2009 (LBO) – Sri Lanka’s DFCC Bank group said June 2009 quarter net profit fell 6.38 percent to 507.1 million rupees from a year ago owing to lower fee-based income, foreign exchange losses and weak returns from strategic investments. DFCC Group’s provisions for bad and doubtful debts had gone up 8.25 percent to […]
Sri Lanka Tata tea unit June net falls 37-pct
Aug 03, 2009 (LBO) – Sri Lanka’s Watawala Plantations said net profit in the June 2009 quarter fell 37 percent to 37 million rupees from a year ago with the bottom line buoyed by palm oil and retail marketing earnings. Sales rose three percent to 1.1 billion rupees in the period, the company, a unit […]
Sri Lanka Kelani Valley almost out of the red
Aug 03, 2009 (LBO) – Sri Lanka’s Kelani Valley Plantations (KVPL) said it made a net profit of 41 million rupees in the June 2009 quarter, down 37 percent from a year ago, enabling it to almost erase losses in the previous quarter.Sales in the June 2009 quarter fell 18 percent to 674 million rupees […]
No Variation
Aug 03, 2009 (LBO) – Several applications asking to vary orders made following a landmark judgment which reversed a transfer of state land to build a golf course were refused by Sri Lanka’s Supreme Court, lawyers said.Court was also asked to award compensation by others who had bought land in a related project. The next […]
Treasury Case
Aug 03, 2009 (LBO) – Sri Lanka’s former Treasury chief P B Jayasundera is to file a confidential affidavit in an application to release him from an undertaking given to Supreme Court not to hold public office, lawyers said.The bar on public office came following an order to reverse the sale of land and a […]
Top Marks
Aug 03, 2009 (LBO) – Sri Lanka’s low costs has helped it to be ranked among the top 20 global outsourcing destinations for information technology and business process outsourcing (IT/BPO), an industry body said in a statement. The A T Kearney report points out that Sri Lanka has advantages considering its proximity to India, and […]