Author: lbostgadmin
Tough economic times hit Indian property firms
MUMBAI, August 14, 2011 (AFP) – India’s real estate sector, which soared as the country’s economy took off and higher incomes led to increased demand, is facing turbulent times as interest rates push up the cost of home loans. A succession of rate hikes has prompted prospective buyers to delay purchases, with the situation having […]
Sri Lanka poultry firm profit fall 88-pct
Aug 14, 2011 (LBO) – Sri Lanka’s Three Acre Farms, a poultry firm, which is part of the Ceylon Grain Elevators group said profits fell 88-percent to 3. 0 million rupee in the June 2011 quarter from a year earlier, on rising costs and weaker chick prices. “The profit from broiler operation has reduced during […]
Buyers from Sri Lanka, India, China eye lakefront land
Aug 13, 2011 (LBO) – Prime land facing a lake in Sri Lanka’s capital Colombo is being eyed by buyers from India, China as well as large local business groups that want to take part in a lakefront promenade development, an official said. A 30-year war ended in 2009 and Sri Lanka is looking forward […]
Hatton Profits
Aug 13, 2011 (LBO) – Sri Lanka’s Hatton National Bank group’s net profit for the June 2011 quarter rose 6 percent to 1.29 billion rupees from a year earlier, amid tighter net interest growth, while revenues grew 6 percent to 10.1 billion rupees. Group loan loss provisions were a 73 million write back for the […]
Exit Plan
Aug 13, 2011 (LBO) – Sri Lanka’s Hatton National Bank said it will exit from Delma Exchange, a remittance house in the United Arab Emirates which expatriate workers use to send money home. In the five months to May remittances rose 28 percent to 2.1 billion US dollars. “[The] Board of Directors have decided to […]
‘s Religare expands into Africa
Aug 11, 2011 (LBO) – India’s Religare Capital Market Limited (RCML) said a recent purchase of South Africa’s Noah Financial Innovation will be a base for further expansion in to the region. RCML chief executive Martin Newson says the South African acquisition is part of its emerging markets investment banking operations, “both in its own […]
‘s elephant census begins despite boycott
MINNERIYA, August 12, 2011 (AFP) – Thousands of workers, soldiers and volunteers fanned out across Sri Lanka on Friday to begin the country’s first national elephant survey despite a boycott by some wildlife groups. Hundreds of conservationists decided not to take part because of fears prompted by comments from a minister that the survey will […]
Tablet Wars
SAN FRANCISCO, August 12, 2011 (AFP) – US technology giant Hewlett-Packard (HP) on Thursday cut the price of its freshly-launched TouchPad tablet computers in a bid to gain traction in a market dominated by Apple’s iPad. TouchPads with 16 gigabytes of memory were offered on the HP website for $400 and models with 32 gigabytes […]
Health Expansion
Aug 12, 2011 (LBO) – Sri Lanka’s Hemas group is expanding its healthcare business with land bought in Battaramulla to build a new hospital near the island’s capital, group chief executive Husein Esufally said. “An expansion plan to add two more hospitals to the chain is well underway and we have been successful in securing […]
Combank
Aug 12, 2011 (LBO) – Sri Lanka’s Commercial Bank of Ceylon’s net profits in the June 2011 quarter rose 63.8 percent to 1.97 billion rupees, amid strong credit growth and containment of interest expenses, interim accounts show. The group reported earnings of 5. 17 rupees per share for the quarter. For the six months it […]
Pole Position
Aug 11, 2011 (LBO) – Sri Lanka’s brand new automobile market is dominated by India’s Maruti and Toyota is leading the re-conditioned or imported used car segment, an analysis by J B Securities, a stock brokering firm, shows. Maruti/Suzuki sold 1,373 cars in July 2011, and on average sold more than 1,100 units each month […]
Sri Lanka stocks rebound one percent
Aug 12, 2011 (LBO) – Sri Lankan stocks rebounded one percent Friday, with an active retail and high net worth market players participation and a large acquisition boosting turnover, brokers said. Asian Alliance closed at 134.00 rupees up 12.20 rupees and over 27.58 million shares were changing hands generating 3.31 billion rupees. High net worth […]