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Bank Numbers
June 02, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) group net profit went up 30 percent to 455 million rupees in the quarter ended March 31, 2009 despite the adverse economic conditions, while bad loan provisions increased. Total group income roe 18 percent to 3.6 billion rupees, the bank said in a statement. […]
Slow Sales
June 02, 2009 (LBO) – Listed consumer durables firm Singer (Sri Lanka) said March 2009 quarter profits plunged 79 percent to 26 million rupees from a year ago as consumer spending slumped amid an economic slowdown. Group sales for the three months ended March 31, 2009 fell 23 percent to three billion rupees, the company […]
‘s mobile subscriber base crosses 400 million
NEW DELHI, June 2, 2009 (AFP) – The number of mobile subscribers in India crossed the 400 million mark in April, official data showed Tuesday, putting the country on track to reach its goal of 500 million customers by next year.Some 11.90 million subscribers were added in April compared with 15.64 million during the previous […]
Is lightening a risk for modern aircraft?
PARIS, June 2, 2009 (AFP) – Passenger jets are hit by lightning every 1,000 hours — on average twice a year — and experts say the risk from the bolts of electricity is growing. But technical experts, astounded like everyone else by the disappearance of an Air France jet in the Atlantic with the feared […]
UN did not underestimate Sri Lanka death toll: Ban
UNITED NATIONS, June 1, 2009 (AFP) – UN chief Ban Ki-moon on Monday categorically rejected allegations the world body had deliberately underestimated the death toll in the ethnic conflict in Sri Lanka.“I categorically reject — repeat categorically — any suggestion that the United Nations has deliberately underestimated any figures,” he told the UN General Assembly. […]
Sri Lankan media rights activist recovers after attack
June 2, 2009 (AFP) – A Sri Lankan journalist was recovering in hospital Tuesday after being beaten up near the capital Colombo as a rights group expressed renewed concern for the safety of the island’s media. Poddala Jayantha, secretary of the Sri Lanka Working Journalists’ Association, was abducted near his home and severely attacked with […]
” inflation 15.8-pct
June 02, 2009 (LBO) – A controversial core inflation index of selected items in Sri Lanka was at 13.5 percent in May 2009, the central bank said, while the country’s headline index rose 3.3 percent, from 2.9 percent. Core inflation is claimed by central banks to better reflect their monetary policy actions, and drops food […]
Sri Lanka g-secs see foreign interest trickling in
June 01, 2009 (LBO) – Sri Lanka’s government securities market has seen a trickle of foreign investment as the country is slowly emerged from a balance of payments crisis, official data showed. The central bank said the volume of Treasury bonds held by foreign investors increased by about 1,500 million rupees (about 10 million US […]
Sri Lanka shares weaken
June 01, 2009 (LBO) – Sri Lankan shares ended weaker Monday as investors took profits after last week’s sharp rise on euphoria that followed a military victory over the Tamil Tigers, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell […]
Savvy Credit
June 01, 2009 (LBO) – Sri Lanka’s DFCC Vardhana Bank said it had launched a credit card targeting high-end customers and to improve access despite difficult market conditions owing to lower consumer spending and high taxes.“We’re now moving towards a cashless society and the bank has started by introducing credit cards,” DFCC group chairman Rajan […]