Author: lbostgadmin
Bank Fortunes
Aug 07, 2009 (LBO) – Sri Lanka’s Sampath Bank said profits for the June quarter went up 20 percent to 449 million rupees from a year ago on higher interest margins, fee-based income and loan recoveries, despite a shrinking loan book. Sampath Bank said in a stock exchange filing that group interest income for the […]
Minimum Price
Aug 07, 2009 (LBO) – Sri Lanka’s state-run ports authority will seek a higher royalty from the sole bidder to operate a terminal at Colombo, while keeping open other options including re-tendering, an official said. The bid to build and operate a container terminal at an extension to Sri Lanka’s main port is half the […]
Box Business
Aug 07, 2009 (LBO) – Container volumes rose again in July 2009 at a Colombo port terminal partly owned by John Keells Holdings whose transportation business has been hit by the trade slump and loss of a ship fuel monopoly. Relatively low margin transhipment traffic accounts for a growing proportion of SAGT’s total throughput, they […]
Sri Lankan shares up 0.15-pct during week
Aug 07, 2009 (LBO) – Sri Lankan shares closed marginally down Friday as investors waited for foreign investors to enter the market and showed no reaction to the capture of a wanted Tamil Tiger leader, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed flat to end at 2,529.53, while the Milanka index […]
G20 agrees next steps on bonuses, post-crisis blueprint
LONDON, September 5, 2009 (AFP) – The G20 vowed Saturday to maintain emergency measures to fight the world economic crisis, warning it was not over yet, while tensions between Europe and the United States remained over bankers’ bonuses. After a meeting in London preparing for a leaders’ summit later this month, finance ministers said they […]
Sri Lanka slammed by media watchdog over polls media blackout
August 6, 2009 (AFP) – Global press freedom group Reporters Without Borders voiced outrage Thursday over Sri Lanka’s ban on independent media covering local polls just outside the island’s former war zone.The government claimed victory over the Tamil Tiger rebels in May after killing the top leadership of the separatist movement which had been fighting […]
Sri Lanka arrests 32 migrants heading for New Zealand
August 6, 2009 (AFP) – Sri Lankan police arrested 32 men who were illegally trying to leave for New Zealand by boat, an official said Thursday.The men were taken into custody late Wednesday on the island’s western coast of Seeduwa from where they planned to set off for New Zealand in a fishing trawler, senior […]
Sri Lanka insurance regulator suspends Ceylinco Takaful
Aug 06, 2009 (LBO) – Sri Lanka’s insurance regulator, the Insurance Board of Sri Lanka, has suspended the registration of Ceylinco Takaful for general insurance for three weeks, the government information department website said.It gave no further details. The suspension imposed on Ceylinco Takaful Limited remains till August 26, 2009, it said.It quoted the IBSL […]
Sri Lanka says new Tiger leader arrested
August 6, 2009 (AFP) – Sri Lanka’s state television on Thursday announced that the new head of the remnants of the Tamil Tiger rebels had been arrested in Thailand. Pathmanathan, an overseas-based leader who took over the Liberation Tigers of Tamil Eelam (LTTE) following the killing of its supremo Velupillai Prabhakaran in mid-May, was also […]
‘s flagship outsourcing sector hits tough times
NEW DELHI, August 6, 2009 (AFP) – These are tough times for India’s flagship outsourcing industry whose skilled, low-cost workforce helped plant the country on the global business map.With the world in the grip of the worst economic slump since the 1930s, revenue growth from outsourcing — subcontracting work to a third-party company — is […]
Knowledge Wiki
Aug 06, 2009 (LBO) – Lankapedia, a newly launched Sri Lanka specific site styled on the popular Wikipedia portal, is setting the stage to make user generated content about the island more popular, officials said. “I think user generated content is the future,” says Rohan Samarajiva, head of LirneAsia, a regional think tank that has […]
Sri Lanka Bogawantalawa Tea starts distribution network
Aug 06, 2009 (LBO) – Sri Lankan tea growing and marketing company Bogawantalawa Tea Estates said it has launched its own distribution channel in the local market.Most Sri Lankan tea producers sell their teas through the Colombo auctions but several firms are trying to establish their own brands and sell direct to consumers, cutting out […]