Author: lbostgadmin
Telco Trends
May 10, 2011 (LBO) – Sri Lanka Telecom’s March 2011 quarter net profit rose 114 percent to 1,295 million rupees from a year ago with sharp gains from value-added services and the traditional fixed line business. Group sales rose two percent to 12. 4 billion rupees in the quarter ending March 31, 2011, according to […]
Sri Lanka Grain Elevators March net up 64-pct
May 10, 2011 (LBO) – Sri Lankan poultry firm Ceylon Grain Elevators said March 2011 quarter net profit rose 64 percent to 94 million rupees from a year ago as gains from feed milling helped overcome high raw material prices. Sales grew 26 percent to 2.3 billion rupees during the quarter with earnings per share […]
Finance Listing
May 10, 2011 (LBO) – Bimputh Lanka Investments, a registered finance company in Sri Lanka, has been given regulatory approval to list on the Colombo stock exchange. The firm is to list 20.2 million ordinary voting shares on the CSE’s ‘Diri Savi’ second board through the ‘introduction’ process which does not require companies to make […]
Bank Numbers
May 10, 2011 (LBO) – Sri Lanka’s Union Bank said net profit rose 212 percent to 60 million rupees in the March 2011 quarter from a year ago with sharp gains in both interest and non-interest income. Interest income rose 7.5 percent to 458 million rupees while interest expenses fell 22 percent to 221 million […]
Money Transfer
May 10, 2011 (LBO) – ICICI Bank, India’s largest private sector bank, has tied up with Sri Lanka’s Sampath Bank to launch an online cross-border money transfer facility. The ‘Money2SriLanka’ facility (‘M2SL’) is a web-based online remittance platform which facilitates the sending of remittances from abroad to beneficiaries in Sri Lanka, a statement said. This […]
Sri Lanka stocks close down 0.5-pct
May 10, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with brokers saying speculative trade was still going strong despite regulatory curbs on unusual price movements. The main All Share Price Index closed at 7,339.65, down 0.52 percent (38,21 points) while the more liquid Milanka index was down 0.29 percent (19.59 points) to close […]
Sri Lanka cricket board to hold elections
May 9, 2011 (AFP) – Sri Lanka Cricket is set for an overhaul after the Supreme Court on Monday ordered that the island’s richest sporting body, which has been run by an interim committee since 2004, should be elected. A three-member bench of the Supreme Court asked the sports ministry to hold elections and make […]
SriLankan Airlines to launch services to Moscow
May 09, 2011 (LBO) – SriLankan Airlines will start a new service to Moscow on September 15, making the Russian capital the airline’s 52nd destination. SriLankan operates six flights per day into Male, which is just over an hour’s flying time from Colombo. The new service will operate via Dubai, and will commence initially with […]
India car sales grow at slowest pace in 2 years
NEW DELHI, May 9, 2011 (AFP) – Indian car sales grew at the slowest pace in nearly two years in April, data showed Monday, as price hikes, rising fuel costs and more expensive loans kept buyers out of showrooms. Domestic passenger car sales in Asia’s third-largest economy rose by 13. 18 percent to 162,825 units […]
Software Deal
May 09, 2011 (LBO) – eChannelling, a listed Sri Lankan dotcom that enables patients to make appointments with doctors over the internet, has struck a deal with a software firm, allowing it to diversify outside the healthcare sector. The deal is by eChannelling and its subsidiary ECL Soft with Industrial Financial Systems (IFS), which supplies […]
Sri Lanka LOLC closes beach hotels for refurbishment
May 09, 2011 (LBO) – Sri Lanka’s LOLC group has closed three beach hotels it acquired recently – Riverina, Club Palm Garden and Tropical Villas – for refurbishment and modernisation. LOLC said at the time it was holding talks with a “few world-renowned hotel chains” that have shown interest in establishing a partnership with the […]
Banking Trends
May 09, 2011 (LBO) – Sri Lanka’s Union Bank, which became a retail investor favourite after its recent listing, intends to go into new lines of business and add more branches as part of an expansion plan. “The bank expects this unique facility will enable to expand its network to the grass-root levels efficiently and […]