Author: lbostgadmin
Sri Lanka Bogawantalawa Plantations returns to profit
Oct 30, 2012 (LBO) – Sri Lanka’s Bogawantalawa Plantations, which has interests in tea and timber said it made profits of 88.9 million rupees in the September 2012 quarter recovering from a loss of 127 million rupees a year earlier. Last year’s losses were partly caused by steep increase in gratuity liability following an increase […]
Rating Action
Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]
Sri Lanka stocks close down 0.55 pct
October 30, 2012 (LBO) – Sri Lanka stocks closed down 0.55 percent Tuesday with several blue chips losing ground. Dialog Axiata PLC slipped 0.20 cents to close at 7.80 rupees down 2.50 percent. Distilleries Company of Sri Lanka PLC closed at 142.00 rupees up 0.07 cents. Index heavy John Keells Holdings PLC slipped 1.30 rupees […]
Sri Lanka Asia Pacific forum to explore trade boosting tools
Oct 29, 2012 (LBO) – A trade forum in Sri Lanka with the participation of 30 countries in Asia and the Pacific starting will identify priority areas for integration, and new tools and services to increase the efficiency of cross-border transactions, its organizers said. The Asia Pacific Trade Facilitation Forum 2012 (APTFF) on the theme […]
Khurshid named foreign minister in India reshuffle
NEW DELHI, Oct 28, 2012 (AFP) – Indian Prime Minister Manmohan Singh appointed Salman Khurshid as his new foreign minister as he brought seven new faces into cabinet Sunday in the biggest reshuffle since his 2009 re-election. Khurshid, 59, replaces the 80-year-old S. M. Krishna as the top diplomat and his post as the law […]
Sri Lanka in bid to boost income tax payers
Oct 28, 2012 (LBO) – Sri Lanka’s revenue authority is holding a ‘national tax week’ where the public can interact with their staff in the first week of November in a bid to get more people to pay tax without fear an official said. “We want to stop the fear and uncertainty (biya har saker) […]
‘s water, sanitation expanded with ADB finance
Oct 27, 2012 (LBO) – The Asian Development Bank said it is giving 300 million US dollar loan to support a 400 million US dollar program by Sri Lanka to boost water supply and sanitation in the island’s capital. Critics say rules of China and Vietnam in particular have bowed to the aspirations of their […]
Sri Lanka moves to overcome cinnamon peeler shortage
Oct 26, 2012 (LBO) – Sri Lanka is to set up a training centre to train cinnamon peelers with foreign aid and improve production standards that will help boost exports, officials said. Sarada de Silva, chairman of the Spice Council, an industry body, said the main outcome of the project will be the establishment of […]
Consolidation
Oct 26, 2012 (LBO) – Sri Lanka’s Seylan Bank has reported profits of 589 million rupees for the September 2012 quarter up 48.5 percent from a year earlier, helped by lower investment provisions, interim accounts showed. The bank reported earnings of 1.74 rupees per share for the quarter. In the nine months to September the […]
No Longer
Oct 26, 2012 (LBO- Sri Lanka’s LOLC group’s ratings have been withdrawn by Fitch Ratings though the underlying ratings with negative outlooks have been confirmed. The parent LOLC’s BBB+(lka) rating, two steps up in the investment grade which also applies to 1.25 billion rupees of senior debt securities has been confirmed. LOLC’s ratings were confirmed […]
Sri Lanka stocks close lower 0.46 pct
October 26, 2012 (LBO) – Sri Lanka stocks closed down 0.46 percent Friday with most high cap banking & financial stocks closing lower. Distilleries Company of Sri Lanka PLC closed flat at 141.90 rupees. Index heavy John Keells Holdings PLC gained 0.10 cents to close at 208.10 rupees up 0.05 percent. Commercial Bank slipped 0.50 […]
Sri Lanka key tax revenues up 8-pct to Sept
Oct 25, 2012 (LBO) – Taxes collected by Sri Lanka’s internal revenue office rose 8 percent to 369 billion rupees up to September 2012, from a year earlier commissioner general Mallika Samarasekera said. With a so-called simplified VAT (SVAT) system coming into effect, refunds made to exporters had fallen she said. Sri Lanka’s value added […]