Author: lbostgadmin
CEO Forum
May 26, 2011 (LBO) – Due to the growth of social media and the internet Sri Lankan firms have to be increasingly vigilant to safeguard the reputation of their brands among today’s well informed consumers, a senior executive said. Brands build bonds with end users to ensure they continually consume their products. Brand specialist say […]
Sri Lanka Keells Hotels net up 9-pct in March
May 26, 2011 (LBO) – Sri Lanka’s Keells Hotels’ profits rose 9 percent to 521 million rupees in the March 2011 quarter with most of the profits coming from its Maldivian operations, interim accounts showed. It had also slightly increased investment in John Keells Hotels Mauritius. Revenues rose 11 percent to 1.9 billion rupees in […]
Finance Rating
May 26, 2011 (LBO) – Sri Lanka’s Multi Finance Company Limited (MFCL) has been rated ‘B+(lka)’, four notches below investment grade, by Fitch with a ‘stable’ outlook. “MFCL’s rating reflects its small size, weak franchise, modest capitalisation and low profitability in its core business,” Fitch Ratings said in a statement. “The rating factors in the […]
Sri Lanka newly listed finance firms soar on debut
May 26, 2011 (LBO) – Sri Lankan shares closed weaker Thursday with two newly listed finance companies soaring on their debut and a property company once again the most actively traded stock, brokers said. The main All Share Price Index closed at 7,419.44, down 0.37 percent (27.25 points) while the more liquid Milanka index fell […]
Law wants Sri Lanka to be hard case for England
CARDIFF, May 25, 2011 (AFP) – Stuart Law has warned England against taking Sri Lanka lightly even though he concedes they face “the toughest deal on the planet” playing the Ashes-winners in a Test series starting here on Thursday. Former Australia batsman Law is the interim coach of Sri Lanka following the decision by compatriot […]
Sri Lanka warned against alienating India
May 25, 2011 (LBO) – India will destabilise Sri Lanka again if the island endangers her big neighbour’s geo-strategic interests in future just like New Delhi initially sponsored Tamil separatists, an international terrorism expert has warned. He referred to how India is seen to have supported violent groups in Pakistan and Bangladesh as well as […]
Broad Spectrum
May 25, 2011 (LBO) – Sri Lanka’s broadband use is lagging the region due to low penetration of personal computers and expensive mobile handsets, though the sector has now started to grow especially in the wireline segment, a sector study said. Sri Lanka had 574,000 broadband customers by end December 2010, including 294,000 mobile broadband […]
Fashion Profit
May 25, 2011 (LBO) – Sri Lankan fashion retailer Odel said March 2011 quarter group net profit rose 29 percent to 33 million rupees from a year ago with sales growing as it expanded its network of stores. Sales for the quarter rose 22 percent to 817 million rupees from a year ago. Earnings per […]
Sri Lanka Taj profits recover
May 25, 2011 (LBO) – Sri Lanka’s Taj Lanka Hotels, which owns a five star rated property in Colombo’s Galle Face area said profits rose to 52 million rupees in the March 2011 quarter from 3.2 million rupees a year earlier. Sri Lanka is recovering from a three decade war which ended in May 2009 […]
Sri Lanka shares up 0.2-pct
May 25, 2011 (LBO) – Sri Lankan shares closed firmer Wednesday with heavy trading once again in a property firm in which a big stake changed hands last week, brokers said. John Keells Holdings was also actively traded, closing at 300.10 rupees, up 40 cents with over 1.75 million shares changing hands. There were three […]
Sri Lanka bill yield steady
May 25, 2011 (LBO) – Sri Lanka’s 12-month Treasuries yield was flat at 7. 35 percent on Wednesday with, though the 3-month yields edged up marginally, at Wednesday’s auction, the government’s debt office said. The 3-month yield rose 02 basis points to 7.19 percent and the 3-month yield also rose 02 basis points to 7.09 […]
Dicey Deals
May 24, 2011 (LBO) – Sri Lanka is continuing its legal defence in action filed by international banks over petroleum derivatives sold to a state-run oil distributor, the government’s top legal officer said. Fitch Ratings said the fine was bigger than the local branch’s capital but its rating was unaffected due to expected support from […]