Author: lbostgadmin
Sri Lanka April tourist arrivals up nine percent
May 16, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 9. 0 percent to 65,591 in April this year, which helped raise the number of holidaymakers for the first four months of 2012 to 330,116, official data showed Wednesday. The Eastern European market expanded 42. 9 percent to 26,980 visitors in April this year, helped […]
Doubled
May 16, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest bank said group profits increased 104 percent to 4.4 billion rupees from a year earlier helped by strong foreign exchange earnings. The group provided 49 million rupees for loan losses in the March 2012 quarter compared with a provision reversal of […]
Sailing Forth
May 16, 2012 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Company said profits in the March 2012 quarter rose 60 percent to 746 million rupees helped by foreign exchange gains. The firm reported earnings of 10. 39 rupees for the quarter. The stock traded at 200 rupees Wednesday, down […]
Traffic Plan
May 15, 2012 (LBO) – Sri Lanka’s Transport Ministry on Wednesday secured a Japanese grant to draw-up a master transport plan for the Colombo metropolitan region. It will review present conditions, on-going developments and future plans, to identify short and mid-term measures to improve the existing transport system, and in the long term to establish […]
Sri Lankan stocks up 1.71 percent
May 16, 2012 (LBO) – Sri Lankan share prices continued to edge up Wednesday, driven largely by investor interest in Sampath Bank PLC and Asiri Medical Services Limited, brokers said. The benchmark All Share Price Index moved up 1.71 percent or 87.82 points to close at 5,213.68 while the more liquid Milanka Price Index gained […]
Sri Lanka short term Treasuries yields drop
May 16, 2012 (LBO) – Sri Lanka’s three month Treasuries yields dropped, though longer tenures moved up with record volumes of bills being sold by open auction, data released by the state office showed. The 3-month yield dropped 20 basis points to 11. 99 basis points, the 6-month yield rose 10 basis points to 12. […]
Sri Lanka Cricket eyes local firms to bankroll premier league
May 15, 2012 (LBO) – Sri Lanka Cricket is targeting several top local companies to invest in a franchise, when bidding for its new premier league Twenty20 tournament opens for auction in a few weeks, officials said. The success of the Indian Premier League (IPL) has led to similar Twenty20 leagues being played in Bangladesh […]
Sri Lanka knitting mill losses up on write-downs, lower revenues
May 15, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, lost 3. 0 million US dollars in the March 2012 quarter, up 45 percent from a year earlier amid revenue losses and asset write-downs, interim accounts showed. The troubled firm reported losses of 6 cents per share. The stock closed at 8.00 rupees […]
Hidden Gem
May 15, 2012 (LBO) –Sri Lanka’s fledgling outsourcing business, has scored well in a recent A T Kearney study, which gave high marks for the island’s skilled talent pool and a strong business environment at competitive costs. Infrastructure Sri Lanka’s infrastructure is generally far superior to that found in other low-cost countries. Being a relatively […]
Tele Margins
May 15, 2012 (LBO) – Profits at Sri Lanka Telecom, the island’s largest telco, fell 72 percent to 365 million rupees in the March 2012 quarter hit by exchange losses, though operating profits improved interim accounts showed. The group reported earnings of 20 cents per share for the quarter. The stock traded 38.90 up 80 […]
Sri Lanka tea exporters say they do not want low quality imports
May 15, 2012 (LBO) – Sri Lanka’s major tea exporters, who have made a proposal to liberalize tea imports to make the island a global centre for tea, say they do not want to import low quality teas for re-export. Sri Lanka’s Tea Exporters Association has made a proposal to liberalize tea imports for re-exports […]
Bank Growth
May 15, 2012 (LBO) – Profits at Sri Lanka’s Hatton National Bank group increased 26 percent to 1.53 billion rupees in the March 2012 quarter, from a year earlier, helped by strong non-interest income, interim accounts showed. The group reported earnings of 3.87 rupees per share for the quarter. The stock closed at 153 rupees […]