Author: lbostgadmin
Bunker Edge
May 13, 2013 (LBO) – Bunker fuels sold from Sri Lanka’s ports was of higher quality with less particles that damage engines on average than even Singapore but prices have to fall to be more competitive, industry officials said. As states set standards for lower sulfhour content, cat fines, or hard aluminum and silicone dioxide […]
Sri Lanka invited to invest in textiles in Uganda, funds training centre
May 13, 2013 (LBO) – Sri Lanka has been invited to invest in textile plants in Uganda an exporter of cotton, where the companies from the island are already building mini hydro plants, during a state visit by President Mahinda Rajapaksa.Talks with Uganda’s President Yoweri Museveni had focused on agriculture, energy and trade, Sri Lanka’s […]
SpectrumAccess
May 13, 2013 (LBO) – Sri Lanka’s Dialog Axiata said it is buying a pay TV operator for 800 million rupees to gain control of 2.3GigaHertz brand spectrum which will be used for fixed broadband services. Dialog, a unit of Malaysia’s Axiata, said its fixed access division, Dialog Broadband Networks (Pvt) Ltd has entered into […]
Licensed
May 13, 2013 (LBO) – Indra Finance Ltd, a unit of Kandy based Indra Traders, a motor trading group has been registered as a finance company, Sri Lanka’s Central Bank said.A registered finance company can take deposits from the public with a credit rating. The Central Bank’s department that supervises non-bank financial institutions said the […]
Slow Quarter
May 13, 2013 (LBO) – Sri Lanka’s Hatton National Bank group profits were flat at 1.22 billion rupees in the March 2012 quarter, as losses ticked up amid slow loan growth, interim accounts showed.A group level number was not available. Sri Lanka is recovering from a balance of payments crisis and a sharp spike in […]
Sri Lanka stocks close down 0.2-pct, banks retreat
May 13, 2013 (LBO) – Sri Lanka’s stocks closed down 0.18 percent Monday with bank stocks sliding as domestic investors took profits, brokers said. The Lion Brewery Ceylon closed at 372.00 rupees up 1.90 rupees. Ceylon Tobacco Company was down 0.50 rupees to close at 829.00 rupees. Nestle Lanka closed at 1860.00 rupees up 9.40 […]
Sri Lanka in bid to boost Middle Eastern visitors
May 12, 2013 (LBO) – Sri Lanka has promoted wildlife and natural assets in the Arabian Travel Mart in Dubai this month as part of a drive to grow Middle Eastern visitors 60 percent to 90,000 in 2013, the state tourism office said.It is also best part of the year for beach tourism in the […]
Sri Lanka Singer profits halve in slow sales, high interest
May 12, 2013 (LBO) – Profits at Singer (Sri Lanka) Plc, a consumer durables retailer fell 51 percent to 174 million rupees in the March 2013 quarter from a year earlier, as interest costs rose and sales slowed. The group reported earnings of 1.40 rupees per share for the quarter. Gross revenues were flat at […]
‘s Taj unit profits up, revenues down
May 12, 2013 (LBO) – Profits at Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts rose 228 percent to 24.8 million rupees in the March 2013 quarter from a year earlier helped by as absence of forex losses, but revenues weakened. The firm reported earnings of 19 cents per share for […]
Innovation part of corporate DNA: 3M regional chief at Sri Lanka forum
May 11, 2013 (LBO) – Listening to the unarticulated voice of the customers of 3M has helped the firm drive innovation, which is central to its corporate culture, a top regional official of the US-based multi-national said in Colombo. The company makes more than 55,000 products are year, adding new ones continuously. “It’s easy if […]
‘s President Rajapaksa on state visit to Uganda
May 11, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has begun a four day trip to Uganda arriving at Entebbe International Airport accompanied by a business delegation, his office said. President Rajapaksa is due to have talks with President Yoweri Museveni, and attend a Commonwealth conference on local government. He will also visit a […]
Connection
May 11, 2013 (LBO) – Sri Lanka Telecom said it had provided telecom facilities to Mattala Rajapaksa International Airport for all services and commercial partners to operate effectively. “We assure MRIA of our utmost commitment to provide the highest quality and most reliable services always,” Kiththi Perera, head of SLT’s enterprise and wholesale business said […]