Author: lbostgadmin
US credit rating downgraded to AA+ by S&P
Aug 06, 2011 (LBO) – The long term credit rating of the United States of America has been downgraded by one notch to AA + with a negative outlook by Standard & Poors, a rating agency, which said policy making has become less ‘stable’. At higher levels in the rating scale, policy takes on a […]
Sri Lanka Textured Jersey says June net up 136-pct
Aug 06, 2011 (LBO) – Sri Lanka’s Textured Jersey, a knitwear making unit of Sri Lanka’s Brandix apparel group said profits in the June 2011 quarter rose 136 percent to 143.9 million from a year earlier, despite a rise in cotton prices. The firm will have 655 million shares after the initial offer. Last year […]
‘ complaint
GENEVA, August 4, 2011 (AFP) – Two rights groups said Thursday they have brought to Swiss authorities a criminal complaint against a Sri Lankan diplomat and former general, Jagath Dias, over alleged war crimes. The Swiss attorney-general’s office confirmed that it has received the complaint filed by the Society for Threatened Peoples and TRIAL (Track […]
Sri Lanka former war zone gets apparel factory
Aug 05, 2011 (LBO) – Calzedonia Finanziaria of Luxembourg has started building an apparel factory in Sri Lanka’s northern Vavuniya expected to start in October 2011 that will employ 1,500 people when it reaches full capacity. It now employs over 3,000 people to manufacture lingerie and has made total investments of about 45 million dollars […]
Flowing water on Mars sparks new hunt for life traces
WASHINGTON, August 5, 2011 (AFP) – Scientists have found evidence of flowing salt water on steep Martian slopes, which if confirmed would be the first discovery of active liquid water on the red planet, NASA said Thursday. The data gathered by the Mars Reconnaissance Orbiter has given new focus to the hunt for life forms […]
Pay TV
Aug 05, 2011 (LBO) – Sri Lanka’s Dialog Television, a top pay TV operator which is a unit of telecom operator Dialog Axiata said subscribers grew 16 percent by end June 2011 to 184,000 from a year earlier, and its cash flows strengthened. The firm said revenues rose 11 percent to 1. 1 billion rupees […]
Sri Lanka Sunshine group June net hit by wage hike
Aug 05, 2011 (LBO) – Sri Lanka’s Sunshine Holdings said June 2011 quarter net profit fell 46 percent to 63 million rupees from a year ago as earnings from plantations were eroded by a wage hike given to workers. Work on two other power projects is to begin soon ensuring the firm achieves its target […]
Sri Lanka city hotel lose Rs2.3mn in June quarter
Aug 05, 2011 (LBO) – Hotel Services (Ceylon) PLC, owners of Continental, the oldest 5-star hotel in Sri Lanka’s capital Colombo said it lost 2.3 million rupees in the June 2011 quarter, though revenues rose 24 percent to 136 million rupees. The new owners have said they planned to expand and upgrade the hotel. The […]
Bank Directors
Aug 05, 2011 (LBO) – Sri Lanka’s NDB Bank has appointed Hemaka Amarasuriya, former chairman of Singer Sri Lanka, and Softlogic group chief Ashok Pathirage as deputy chairman. The appointments were made on August 04, the bank said in a statement. Amarasuriya was also vice president of Singer Asia and Retail Holdings Limited of USA. […]
Margin Play
Aug 05, 2011 (LBO) – Sri Lanka’s Nations Trust Bank group June 2011 quarter profits rose 29 percent to 360 million rupees helped by a provision reversal and lower taxes, despite a squeeze in margins on its loan book, interim accounts showed. The bank reported earnings of 1.55 rupees for the quarter and 2. 58 […]
Fusion Mode
Aug 05, 2011 (LBO) – A service station to repair and maintain hybrid cars in Sri Lanka, whose use has risen sharply after an import tax cut, has been set up in the capital Colombo. About 2,000 hybrid electric vehicles, which combine an internal combustion engine with electric motors to drive them, are already on […]
Sri Lanka stocks end down 0.9-pct
Aug 05, 2011 (LBO) – Sri Lankan stocks closed lower Friday as Asian and European markets plunged on renewed recession fears, brokers said. The benchmark All Share Price Index ended down 0. 86 percent or 58.49 points at 6,751.29, while the Milanka Index of more liquid stocks closed down 1.03 percent (64.26 points) at 6,152.23, […]