Author: lbostgadmin
CapitalGains
May 15, 2013 (LBO) – Profits at Sri Lanka’s NDB group fell 53 percent to 499 million rupees in the March 2013 quarter, from a year earlier, on higher operating expenses and provisioning as interest costs rose, interim accounts showed.The group reported earnings 3.09 rupees per share. Interest income rose 34 percent to 4.9 billion […]
Positive Numbers
May 15, 2013 (LBO) – Profits at Sri Lanka’s Nations Trust Bank rose 15 percent to 501 million rupees in the March 2013 quarter helped by fee and fund based income, interim accounts show.The bank reported earnings of 2.18 rupees per share. NTB group’s interest income rose 35 percent to 4.35 billion rupees and interest […]
Toot
May 15, 2013 (LBO) – Trains have begun operating on the segment of a 252 kilometre railway track system in Sri Lanka’s north rebuilt with Indian aid which was destroyed 23 years ago during the island’s separatist conflict.The rebuilt track from Madawachchiya to Madhu Road on a track leading to Talaimnnar in the northeast was […]
Sri Lanka stocks close up 0.2-pct
May 15, 2013 (LBO) – Sri Lanka’s stock closed up 0.23 percent on Wednesday, ending a two days of losses, with sentiment helped by falling Treasuries yields amid strong foreign buying into motor stocks, brokers said. The benchmark Colombo All Share Index closed 14.53 points higher at 6,221.12 up 0.23 percent and the S&P SL […]
‘s Treasuries yields plunge
May 15, 2013 (LBO) – Sri Lanka’s Treasuries yields plunged as much as 45 basis points at the first bill auction following a 50 basis point rate cut last week, data from the state debt office showed. The 3-month yield fell 43 basis points to 8.75 percent, the 6-month yield fell 29 basis points to […]
Sri Lanka gets US$218mn FDI in first quarter 2013
May 14, 2013 (LBO) – Sri Lanka has received 218 million US dollars of foreign direct investments in the first quarter of 2013 and is targeting two billion dollars for the full year, investment promotion minister Lakshman Abeywardena said.In 2012 Sri Lanka received 1,338 million US dollars in FDI up from 1,066 million US dollars […]
Sri Lanka to set tax of around 10-pct for foreigners leasing land
May 14, 2013 (LBO) – Sri Lanka’s new restrictions on foreign ownership of property will have provisions that will allow non-nationals investing in the country to lease land with a tax of 5 to 15 percent, senior government officials said.Large investment projects may be given permission to purchase land by special approval. Ferdinando said listed […]
Sri Lanka hydro reservoirs get highest inflows in single day
May 14, 2013 (LBO) – An Indian Ocean cyclone named after an ancient Sri Lankan king who is famed for building irrigation tanks had brought the highest water inflows in a single day to the island’s hydro power storage system. More water from yesterday’s rain held in catchment areas are expected to flow into the […]
‘s Union Assurance net up 31-pct
May 14, 2013 (LBO) – Profits at Union Assurance Plc, a unit of Sri Lanka’s John Keells Holdings rose 31 percent to 111.3 million rupees in the March 2013 quarter from a year earlier, helped by investment income and fair value gains. The firm reported earnings of 1.30 rupees per share. The stock closed at […]
Brand Summit
May 14, 2013 (LBO) – Some of Sri Lanka™s renowned marketing thinkers, regional advertising experts and key Google officials will share their insights on how firms could build resilient brands during a one day conference in Colombo this month.In a fast paced, upheaval-prone modern world, today™s strong brand equity does not guarantee tomorrow™s success. Brands […]
Forex Hit
May 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits fell 19.7 percent to 2.25 billion rupees in the March 2013 quarter from a year earlier, on narrowing interest spreads and lower forex gains.Analysts are therefore forced to call banks up for basic information readily available under earlier rules, unless they voluntarily […]
Sri Lanka market interest rates drop after rate cut
May 14, 2013 (LBO) – Sri Lanka’s market interest rates has eased down with the effective policy rate settling at around 7.8 percent though cash auctions down from around 8.3 percent before a 50 basis point rate cut last week, dealers said. On Tuesday gilt backed overnight repurchase transactions were quoted 8.30/40 percent levels in […]