All Blogs
‘s HNB Assurance June net drops, revenue improves
Aug 22, 2008 (LBO) – Sri Lanka’s HNB Assurance June quarter net profit slipped three percent from a year ago as claims increased and the life insurance fund expanded, results released to the stock exchange show. HNB Assurance earnings per share increased to 0.28 rupees from 0.29 a year ago while net assets per share […]
‘s iPhone to launch in India on Friday
NEW DELHI, August 22, 2008 (AFP) – Apple’s iconic iPhone was slated to make its debut Friday in India, home to the world’s fastest-growing mobile market, officials said. The 3G or third generation phone will sell for more than triple its US price tag in India, which has emerged as a key battleground for makers […]
Oil prices spikes to US$120 amid geopolitical tension
NEW YORK, August 21, 2008 (AFP) – Oil prices rocketed higher Thursday as traders tracked geopolitical tensions between the United States and Russia, a weak dollar and a large drop in US motor fuel reserves. New York’s main oil futures contract, light sweet crude for delivery in October, soared more than six dollars to 122.04 […]
Sri Lanka to close polling stations if there is violence: monitor
Aug 22, 2008 (LBO) – A Sri Lankan elections watchdog says it has been assured by the elections commissioner that polling stations where violence or irregularities take place at Saturday’s provincial council polls would be closed. Rodrigo quoted the elections commissioner as saying that there had been no violence in the last 36 hours after […]
Loss Assessment
Aug 22, 2008 (LBO) – Sri Lanka’s John Keells Holdings (JKH) said a write-down at its bunkering unit could amount to 1.3 billion rupees after the firm lost a tank farm and a tax holiday, but the group was hopeful of capping losses at 704 million rupees.Following a Supreme Court decision that cancelled its tax […]
Sri Lanka to host South Asia economic summit on Aug 28
Aug 22, 2008 (LBO) – Sri Lanka will host a South Asian Economic Summit (SAEA) from August 28, where civil society, academics, private sector and state representatives can debate economic issues, a Colombo-based think thank said. Former Nepalese finance and foreign minister Bekh Thapa, former Bangladeshi foreign minister Kamal Hossain, former SAARC secretary generals Ibrahim […]
Sri Lanka stocks stagnate, more trading in CIC
Aug 21, 2008 (LBO) – Sri Lankan stocks closed marginally weaker Thursday, the indices dragged down by falls in blue chips, with Chemical Industries (Colombo) again being heavily traded, brokers said.The All Share Price Index was virtually unchanged, just half a point down at 2,424.71 while the more liquid Milanka dropped 0.17 percent (4.82 points) […]
Fleet Plans
Aug 21, 2008 (LBO) – Sri Lanka’s Mercantile Shipping Company said it expects delivery of the first of two new cargo ships on order by the middle of next year as construction is slightly ahead of schedule.The company said it made good profits in the last financial year but that cash flow would be tight […]
Banking Challenge
August 21, 2008 (LBO) – Hatton National Bank has staged a steady turnaround under the direction of its chief executive Rajendra Theagarajah. But with a weakening economy of high inflation and volatile interest rates, banks in general are under pressure.HNB is now looking at maintaining asset quality and increasing its exposure abroad as domestic loan […]
Sri Lanka expects firm tea prices despite commodity bubble burst
Aug 21, 2008 (LBO) – Sri Lankan tea exporters are expecting prices to remain high owing to good quality leaf, savvy marketing and packaging, though the US dollar is strengthening and a global commodity bubble may have burst.Romesh Moraes of the Tea Exporters Association said the trade aims to maintain its price advantage over its […]