Author: lbostgadmin
Sri Lanka issues travel warning on flood hit Thailand
Oct 31, 2011 (LBO) – Sri Lankans should avoid all but ‘extremely essential’ travel to Thailand’s capital Bangkok as floods worsened, the island’s foreign ministry said. “[U]unless it is extremely essential, Sri Lankans are advised to temporarily postpone their travel to Bangkok until such time the situation improves,” a foreign ministry statement said. Parts of […]
Growth Number
Oct 31, 2011 (LBO) – Sri Lanka’s Sampath Bank group profits for the September 2011 quarter rose 45.6 percent to 1.14 billion rupees helped by higher non-interest income and a tax cut interim accounts showed. The group reported earnings of 7.33 rupees for the quarter. For the nine months to September earnings were 20. 81 […]
Finance Growth
Oct 31, 2011 (LBO) – Citizens Development Business Finance, a registered finance company in Sri Lanka said net profits for the September 2011 quarter rose 146 percent to 161.2 million rupees from a year earlier, helped by interest margins and other income. The firm reported earnings of 3.58 rupees for the quarter. For the six […]
Finance License
Oct 31, 2011 (LBO) – Commercial Leasing Company, a unit of Sri Lanka’s LOLC group, said it had received a finance company license from the banking regulator and will seek a public listing. The firm will also increase its small and medium industry and micro finance portfolio. “The company is well positioned to take advantage […]
Wheels Wealth
Oct 31, 2011 (LBO) – A post-war economic boom and lower import taxes helped sharply increase September 2011 quarter profits at two Sri Lankan vehicle importers which are agents for top German, Japanese and Indian brands. Diesel & Motor Engineering Company (DIMO), agents for Mercedes Benz and Tata, said September quarter net profit rose 175 […]
Sri Lanka stocks end down 0.5-pct
Oct 31, 2011 (LBO) – Sri Lankan shares closed lower despite early gains with turnover boosted by the acquisition of a stake in Galadari Hotel by an investment fund linked to the Dubai government and other private deals, brokers said. The main All Share Price Index fell 0.46 percent (29.19 points) to 6,319.25, while the […]
Price Balance
Oct 30, 2011 (LBO) – Sri Lanka has raised pump prices by around 10 percent with petrol prices going up by 12.00 rupees a litre and diesel by only 8. 00 rupees, widening an already existing gap. The standard 90-Octane petrol will now cost 137 rupees at the pump and the premium 95-Octane 155 rupees. […]
Commonwealth agree they must reform
PERTH, October 30, 2011 (AFP) – A Commonwealth summit bringing together world leaders from the 54-nation bloc closed Sunday agreeing on the urgent need to reform the grouping but without consensus on human rights. In a communique, they noted that a report from an “Eminent Persons Group” (EPG) set up at their last meeting to […]
Bill Rumpus
Oct 30, 2011 (LBO) – At least two listed companies in Sri Lanka have been named among several dozen, in a secretly hatched law to expropriate assets of firms deemed by the state as ‘underperforming’ or ‘underutilized’, a media report said. The two listed firm named in the secret law in Hotel Developers (Lanka) Plc, […]
Visa Scam
WASHINGTON, October 30, 2011 (AFP) – A case working its way through a federal court in California has exposed huge student visa scams by “sham” universities cashing in on Indians and other foreigners looking for a quick path to jobs in the United States. Enrollment at Tri-Valley University, an unaccredited self-styled Christian graduate school, surged […]
Sri Lanka airport crunch looming: official
Oct 29, 2011 (LBO) – Sri Lanka’s sole international airport will face a capacity crunch soon with passenger traffic exceeding its design capacity by year’s end amid a post-war tourism boom, an airline official said. Another plan under consideration is to expand the terminal into the garden area. The Bandaranaike International Airport (BIA) handled 5.26 […]
BlackBerry puts monitoring centre in India: report
MUMBAI, October 28, 2011 (AFP) – Research In Motion (RIM) has set up a facility in Mumbai to help the Indian government conduct surveillance checks on the company’s BlackBerry services, the Wall Street Journal said on Friday. The financial daily quoted unnamed people familiar with the matter who said the Canadian firm opened the centre […]