Author: lbostgadmin
Outsource Trends
May 17, 2010 (LBO) – Massachusetts-based Virtusa Corp., an IT services firm with operations in Sri Lanka, said net profit for the March 2010 quarter stayed flat at 3.6 million US dollars from the previous year. A company statement said the March quarter result was an improvement on the 2.9 million dollar profit earned in […]
‘s Agalawatte Plantations buoyed by high rubber, palm oil prices
May 17, 2010 (LBO) – High rubber and palm oil prices helped Sri Lanka’s Agalawatte Plantations make a net profit of 36 million rupees in the March 2010 quarter compared with a loss of 68 million rupees the year before, latest accounts showed. Agalawatte Plantations’ tea business made a small gross profit of 1.9 million […]
Forex Hit
May 17, 2010 (LBO) – Sri Lanka’s Bank of Ceylon March quarter profits fell 13.2 percent to 664.7 million rupees from a year ago on lower foreign exchange income, while interest margins widened from lower interest expenses, its accounts showed. In the March quarter the group made a general provision of 334.4 million rupees, up […]
Box Trade
May 17, 2010 (LBO) – Cargo volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings surged 25 percent in April 2010 to 166,797 containers from a year ago as trade recovered from recession, latest data showed. It was South Asia Gateway Terminals’ second highest-ever monthly volume, although down […]
Yard Trends
May 17, 2010 (LBO) – Sri Lankan ship builder Colombo Dockyard’s net profit for the March 2010 quarter fell sharply as ship repair revenue came down despite an increase in earnings from ship building, a stock exchange filing said. The yard, which is majority owned by Japan’s Onomichi Dockyard, said net profit fell 48.7 percent […]
Sri Lanka stocks close 0.23-pct down
May 17, 2010 (LBO) – Sri Lankan shares closed down Monday as investors took profits to re-invest in those that offer higher value, while trading volumes were hit as retail investors stayed away owing to heavy rain which caused floods in the capital, brokers said. The All Share Price Index closed at 4,242. 49, down […]
Euro plunges to 19-month low in Asia
TOKYO, May 17, 2010 (AFP) – The euro slid to its lowest level since October 2008 in volatile Tokyo trade Monday as persistent fears over eurozone debt continued to pressure the single currency. The euro fell to as low as 1.2332 dollars in Tokyo trade from 1. 2358 in New York Friday, before recovering to […]
Fiery World
NEW ORLEANS, May 16, 2010 (AFP) – US officials have told BP to clarify what costs it will pay for cleanup of the massive Gulf of Mexico oil spill, with crews employing new tactics Saturday to stem the leak as globs of oil wash ashore in new sites. The latest effort by British Petroleum to […]
Sub-standard lights force change in first US event
FORT LAUDERDALE, May 15, 2010 (AFP) – Sri Lanka and New Zealand will play only two Twenty20 matches next week in the first full internationals to take place in the United States because of sub-standard floodlights at the venue. “The Black Caps are tremendously excited about the opportunity of launching international cricket in the United […]
Britain on lookout after ash disrupts Northern Ireland airspace
LONDON, May 15, 2010 (AFP) – British aviation authorities were keeping a close eye Sunday on the possible return of a cloud of volcanic ash from Iceland after it forced the closure of parts of Northern Ireland’s airspace. The NATS said it was working closely with weather forecasters and the Civil Aviation Authority — Britain’s […]
Sri Lanka wary of Tiger revival abroad one year after war
May 16, 2010 (AFP) – One year after Sri Lanka’s army wiped out the Tamil Tigers, there are no signs of the rebel group’s revival at home, but concerns remain about extremist fund-raisers abroad. The government has highlighted meetings abroad planned to coincide with the first anniversary of the LTTE’s military defeat as a fresh […]
India slowly gets to grips with ecommerce
MUMBAI, May 16, 2010 (AFP) – Vipul Modi is a busy high court lawyer in India’s financial capital Mumbai. Like many people, he uses the Internet to buy rail and airline tickets as well as pay his utility bills. Yet when it comes to buying other products online, the 44-year-old has misgivings, particularly about the […]