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Upside Protection
February, 20 (LBO) – Ceylon Petroleum Corporation wants to hedge 300,000 barrels of diesel before the end of the month, but is looking for better upside protection, an official said. Firms like Sri Lankan airlines hedges more than 70 percent of its oil though it is done by Emirates in Dubai. Last week it bought […]
Top Line
February 19 (LBO) – Ceylinco Insurance Company said Monday its premium income had grown 19.5 percent to 15.3 billion rupees in 2006. It was promoted by the Ceylinco Group, whose Ceylon Insurance Co. Ltd was the first Sri Lankan company to be registered under the Companies Ordinance of 1938. General Insurance premiums had grown 19 […]
Bank Gain
February, 19 (LBO) – Hatton National Bank group profits rose 26 percent in 2006, with revenue growing by 27.5 percent and assets reaching 206 billion rupees, the bank said Monday. The latest results had pushed earnings per share to 19.01. Group net profit after tax and minority interest grew to 2.2 billion rupees from 1.7 […]
Summary Justice
January 19 (LBO) – Saudi Arabia has beheaded four Sri Lankans by the sword including a man serving a jail sentence, reports from the desert kingdom said, bringing an abrupt end to a three year struggle by rights organizations and the prisoners themselves for clemency. An AFP news agency report quoting the Saudi Press Agency […]
Executed
RIYADH, Feb 19, 2007 (AFP) – Four Sri Lankans convicted of armed robbery were beheaded by the sword in the Saudi Arabian capital Riyadh on Monday, the interior ministry said. Victor Korea, Ranjith De Silva, Santhosh Kumar and Sharmila Sangeeth Kumar were executed for robbing a number of businesses at gunpoint, the ministry said in […]
Loud Numbers
February 19, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Monday posted a 44 percent rise in net profits for the 12 months to December, and said it plans to cover 100 percent of the island by end 2007. A unit of Telekom Malaysia, Dialog Telekom, reported a 10.12 billion rupee group […]
Joy and pain as train blast survivors arrive in Pakistan
LAHORE, Pakistan, Feb 19, 2007 (AFP) – Desperate relatives defied police and forced their way into the carriages that arrived here Monday evening with survivors of the train blast in India.“They are known for attacks on trains in India,” he said. Joy and pain as train blast survivors arrive in Pakistan =(PICTURE)= ATTENTION – RECASTS […]
Police unearth over 400 baby bones in India
BHOPAL, India, Feb 19, 2007 (AFP) – Police were investigating Monday a hospital’s involvement in illegal female foeticide after 437 baby bones were dug up close by the complex, a state government said Monday.Police began unearthing the bones on Saturday from Christian Medical Hospital, in central Madhya Pradesh state, after a tip-off that medical staff […]
Sri Lanka look to deliver huge surprise at World Cup
NEW DELHI, Feb 19, 2007 (AFP) – Sri Lanka will be keen to maintain their recently-acquired reputation of doing consistently well away from home when they begin their World Cup campaign in the Caribbean.None of the three other sub-continent sides can match an impressive record of Mahela Jayawardene’s Sri Lankans, who won more than 50 […]
Sri Lanka exports to India drops for the first time on trade wars
Feb 19 (LBO) – For the first time in a decade, Sri Lanka’s exports to India dropped last year, following trade disputes over the island’s duty free access into India for vegetable oil, spices and copper. Sri Lanka and India have duty free or preferential access into each other’s markets for over 4000 goods, under […]