Author: lbostgadmin
Teaching Lessons
April 25, 2007 (LBO) – Two successful family owned businesses, Hemas Holdings Limited and Ceylon Biscuits Limited (CBL), have become case studies for students of a Sri Lankan post graduate school. The project was conducted by the faculty and students of the Post Graduate Institute of Management (PIM), funded by the USAID under The Competitiveness […]
Flying Engineers
April 25, 2007 (LBO) – SriLankan Airlines engineering unit that does third party aircraft maintenance is aiming for European standard certification that would allow it to extend the business to European airlines. We are currently working towards obtaining certification in the European standard EASA (European Aviation Safety Agency), which would enable us to carry out […]
‘s Talawakelle Tea estate profits dip after strike
April 25, 2007 (LBO) – Hayleys subsidiary Talawakelle Tea Estates (TTEL), has reported a sharp fall in first quarter profits after a strike crippled production late last year.Net profit for the three months ended March 31, 2007 fell 60 percent to 30.2 million rupees from 75.8 million rupees in the same 2006 period.Revenue was down 16 […]
Comfort Rating
April 25, 2007 (LBO) – Fitch Ratings has affirmed Merchant Credit of Sri Lanka’s investment grade BBB (lka) rating but said the finance companies non-performing loans were on the rise and profitability had fallen. Fitch said the outlook was stable and the rating took into account the implied support assumed to be available from its […]
Sri Lanka treasury yields continue to move up
April 25, 2007 (LBO) – Sri Lanka Treasury bill yields edged up by an average 33 basis points to 15.84 Wednesday, while the 3-month cut-off yield topped 16.70 percent, dealers said. In April reserve money rose to 277 billion partly due to seasonal factors which the bank has to bring down as the money comes […]
Canada says Sri Lanka needs more tsunami recovery help at grassroots level
April 24, 2007 (LBO) – More post-tsunami recovery work is needed in Sri Lanka especially in the north and east of the island, at a community level, a donor agency has said. The Canadian International Development Agency (CIDA) has been working with local community based organizations and non-governmental organizations, through a 300 million rupee fund. […]
Sri Lanka top trade chamber to brainstorm double digit growth in June
April 24, 2007 (LBO) – Sri Lanka’s top trade chamber is kicking off an economic an investment forum in June, to boost growth to double digits and build consensus and partnership among the public and private sector, officials said. The Ceylon Chamber of Commerce is hosting the three-day ‘Sri Lanka Economic Summit’ starting June 08, […]
Port Consolidation
April 24, 2007 (LBO) – Maersk, the world’s largest container shipping line, is to buy a bigger stake in South Asia Gateway Terminals (SAGT), Colombo Port’s privatized transshipment facility, in a deal that sees Dubai Ports World selling out. Other shareholders of SAGT are Evergeen, SLPA, and multilateral lenders. Maersk is currently Colombo’s biggest customer […]
Sri Lanka Tamil Tigers claim new air attack
April 24, 2007 (AFP) – Tamil Tiger rebels said they carried out their second-ever air attack on Sri Lankan government troops on Tuesday, a claim that was immediately denied by the military. The government on Monday asked peace broker Norway to put off a visit to rebel-held territory by their ambassador, citing security considerations. Two […]
Sri Lanka bus blast death toll goes up to 5
April 24, 2007 (AFP) – Suspected Tamil Tiger rebels set off a bomb in northern Sri Lanka, killing five bus passengers and wounding another 33, defence officials said Tuesday.The Liberation Tigers of Tamil Eelam (LTTE) set off the blast in the district of Vavuniya, 250 kilometres (150 miles) north of Colombo just before midnight on […]
North Sri Lanka Tamil Tiger air raid kills six
April 24, 2007 (AFP) – Separatist Tamil Tiger rebels flying light aircraft bombed a military airbase on Sri Lanka’s northern peninsula of Jaffna on Tuesday, killing at least six people, officials and the guerrillas said.The government on Monday asked peace broker Norway to put off a visit to rebel-held territory by their ambassador, citing security […]
Sri Lanka army chief says Tamil Tiger air raid was met with ground fire
April 24, 2007 (AFP) – Tamil Tiger rebels used aircraft to target Sri Lanka’s main military complex in the Jaffna peninsula Tuesday but were beaten back by ground fire, the army chief said on national television. Lieutenant General Sarath Fonseka said they used ground fire to attack the rebel aircraft which changed course and bombed […]