Author: lbostgadmin
Bank Numbers
Feb 14, 2011 (LBO) – The December 2010 quarter net profit at Sri Lanka’s Sampath Bank almost doubled to 1.4 billion rupees from a year ago with basic earnings per share up 96 percent to 8.84 rupees, a stock exchange filing said. Interest income fell 9.8 percent to 4.7 billion rupees and interest expenses fell […]
Finance Quality
Feb 14, 2011 (LBO) – Sri Lanka’s registered finance companies (RFCs) are gradually recovering from the weakened economic climate that prevailed in 2008 and 2009, a ratings report said. RAM Ratings (Lanka) said the sector has benefitted from falling interest rates which has increased margins due to deposit rates falling faster than rates on loans. […]
Mobility Monitor
Feb 14, 2011 (LBO) – Car imports into Sri Lanka shot up by 300 percent to 23,072 in 2010 after the government slashed import duty and also because of rising demand after the end of a war, a government statement said. It said the number of cars registered with the motor traffic department in 2009 […]
Sri Lanka shares surge on palm oil hopes
Feb 14, 2011 (LBO) – Sri Lankan shares surged to a new high Monday as investors continued to buy into firms with oil palm plantations anticipating higher earnings on high commodity prices, brokers said. The All Share Price Index closed at 7,811.82, up 2.97 percent (225.19 points) while the more liquid Milanka index fell 0.15 […]
Sri Lanka Treasuries yields steady
Feb 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the three-month yields were steady at 6.99 […]
Sri Lanka flood damage $600 mln
February 13, 2011 (AFP) – The damage from monsoon flooding in Sri Lanka over the last six weeks is estimated at 0 million, a government minister said Sunday amid a slow response to an international appeal for help. The United Nations issued an appeal for $51 million to address immediate needs after the first round […]
Sri Lanka smash Netherlands
February 12, 2011 (AFP) – Hosts Sri Lanka proved far too strong for minnows Netherlands, posting a crushing 156-run victory in a morale-boosting World Cup warm-up match on Saturday. Sri Lanka, runners-up at the 2007 World Cup in the Caribbean, scored 351-5 off their allotted 50 overs even without prolific run-getters Kumar Sangakkara and Mahela […]
Rate rises and graft scandals threaten India growth
NEW DELHI, February 13, 2011 (AFP) – India is set for scorching growth this year but concern is mounting about its longer-term outlook, with the central bank seen hiking interest rates further and corruption scandals worrying investors. The stock market has already dropped some 17 percent this year, hit by fears that economic growth will […]
Sri Lanka urged by columnist not to win World Cup
February 12, 2011 (AFP) – While the media of every country usually backs its team, a Sri Lankan newspaper columnist has urged the national squad not to win the World Cup — for the greater good of the nation. “Call me a traitor, a quisling… anything. I don’t want Sri Lanka to be the champions […]
” that looks back to the future
BANGALORE, February 12, 2011 (AFP) – It would be the ultimate answer to the daily horror of gridlock on the traffic-choked, exhaust-filled roads of Indian cities. Unassumingly parked next to some of the world’s most lethal warplanes, a converted 800cc Maruti hatchback has stolen some of the thunder from the supersonic exhibits at the Aero […]
Ship Repair
Feb 12, 2011 (LBO) – Sri Lankan listed ship yard Colombo Dockyard is currently doing repair work on several small tankers and a research vessel that will earn revenues of around four million US dollars, a statement said. The yard, a unit of Japan’s Onomichi Dockyard Company, expects revenue of 1.2 million dollars from major […]
Sri Lanka expects a billion dollars of FDI in 2011
Feb 11, 2011 (LBO) – Sri Lanka is expecting more than a billion US dollars in foreign direct investments in 2011 led by a booming leisure sector, after the end of a three decade war made the country more attractive, an official said. “Our expectations (for 2011) are well over a billion (US dollars),” Board […]