Author: lbostgadmin
Mixed Blessings
May 15, 2014 (LBO) – Profits at Sri Lanka’s state-run Bank of Ceylon group fell 1.9 percent from a year earlier to 2.64 billion rupees in the March 2014 quarter with loan loss reversals and trading gains, offsetting flat net interest income. Financial investments held-to-maturity rose to 206 billion rupees from 157 billion rupees. Fees […]
Heavy Seas
May 15, 2014 (LBO) – Profits at Colombo Dockyard Plc, a unit of Onominchi Japan’s Onomichi Dockyard said profits fell 61 percent in from a year earlier to 130 million rupees in the March 2014 quarter amid rising expenses, interim account showed.The firm reported earnings of 1.82 rupees for the quarter. The stock closed at […]
Cricket: Cook sets up Essex win over Sri Lanka
LONDON, May 13, 2014 (AFP) – Alastair Cook’s quickfire knock helped ensure Sri Lanka’s first match in England this season ended in defeat. England captain Cook struck 71 as his county, Essex, made 161 for five in a one-day match reduced by rain to 21 overs per side at Chelmsford on Tuesday. In reply Sri […]
Tight Quarter
May 14, 2014 (LBO) – Profits at Sri Lanka’s Hatton National Bank group fell 13 percent from a year earlier to 1.09 billion rupees in the March 2014 quarter as net interest income fell and loan losses went up, interim accounts showed. At stand alone bank level, gross non performing loans rose to 4.53 percent […]
‘s TATA Housing starts US$400mn Sri Lanka property project
May 13, 2014 (LBO) – India’s TATA Housing has started a 400 million US dollar mixed development in Colombo with state-run Urban Development Authority, as part of a regeneration effort, officials said.In the first stage which started Monday the firm will build a four-tower apartment block with 650 units which will house 582 families and […]
Krrish given three months to pay for Sri Lanka land
May 13, 2014 (LBO) – India’s Krrish which has been given city centre land in Sri Lanka’s capital Colombo is expected to settle its balance payments in three months, an Urban Development Authority official said.Perera said Krrish had recently signed an agreement with a construction contractor, which had been shown to them, they he was […]
One Off
May 13, 2014 (LBO) – Profits at Sri Lanka Telecom, the island’s only wireline operator which also has mobile and pay television fell 66 percent to 547 million rupees, following the loss of a legal battle, interim accounts showed. The group reported earnings of 30 cents per share for the quarter. Revenues rose 6 percent […]
Sri Lanka shares close down 0.3-pct
May 13, 2014 (LBO) – Sri Lanka’s shares closed 0.29 percent lower reversing the gains a day earlier with index heavy stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 18.20 points lower at 6,284.96 down 0.29 percent. The S&P SL20 closed 1.92 points lower at 3,478.99, down 0.06 percent. Turnover […]
Modi seeks crowning victory in India election climax
VARANASI, May 12, 2014 (AFP) – Voters headed to the polls Monday in the climax of India’s marathon election, with frontrunner Narendra Modi seeking a crowning victory in the holy city of Varanasi for his right-wing Bharatiya Janata Party.“People are tired of false promises, corruption and the same old tape-recorded messages,” Modi said in a […]
Smart Trend
SINGAPORE, May 11, 2014 (AFP) – Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones.“As smartphones become more commonplace… consumers in emerging markets will become more demanding and willing and […]
Graphic Warning
May 12, 2014 (LBO) – Sri Lanka’s Court of Appeal has approved graphic pictorial warnings on tobacco packs after Ceylon Tobacco Company challenged new health ministry rules.Sri Lanka’s Daily Mirror newspaper said in its website that the Court of Appeal had dismissed a write application by CTC and allowed graphic health warnings covering 50 to […]
Asset Retreat
May 12, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 21 percent from a year earlier to 1,2 billion rupees in the March 2014 quarter helped by loan loss reversal and other income while net interest income fell. The group reported earnings of 7.50 rupees per share for the quarter. Group interest income […]