Author: lbostgadmin
Margin Growth
May 12, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits rose 2 percent in the March 2014 quarter to 2,301 million rupees from a year earlier, with helped by higher net interest income and trading gains.The group reported earnings of 2.71 rupees per share, in interim accounts filed with the Colombo Stock […]
Sri Lanka stocks close up 0.3-pct
May 12, 2014 (LBO) – Sri Lanka’s stocks closed higher for the fourth consecutive day with diversified and hotel stocks gaining, brokers said. Dialog Axiata closed 10 cents higher at 9.50 rupees and Sri Lanka Telecom closed 40 cents higher at 47.50 rupees. Trans Asia Hotels closed 5.10 rupees higher at 94.90 rupees and John […]
Kotagala Plantations in Sri Lanka, to sell billion rupees of debt
May 12, 2014 (LBO) – Sri Lanka’s Kotagala Plantations, has been given the nod to sell up to a billion rupees in debt, the Colombo Stock Exchange said.The investment banking unit of People’s Bank will manage the sale.The firm will offer 5 million secured rated debt securities of 100 rupees each and another 5 million […]
Sri Lanka Treasuries yields flat
May 12, 2014 (LBO) – Sri Lanka Treasuries yields were steady at Wednesday’s auction, with just the 3-month yield down 01 basis point to 6.57 percent, data from the state debt office showed. The debt office offered 12 billion rupees in maturing debt and sold 16.2 billion rupees worth bills. The 6-month yield was flat […]
Sri Lanka claims biggest post-war Tiger ammo find
COLOMBO, May 10, 2014 (AFP) – Sri Lanka’s military said Saturday it had unearthed the biggest cache of pistol ammunition buried in the former war zone amid government claims that Tiger rebels are trying regroup.Naval troops found the buried ammunition Friday in the coastal area of Mullaittivu where the separatist Liberation Tigers of Tamil Eelam […]
Debt Raising
May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]
Lube Moves
May 10, 2014 (LBO) – Malaysia’s Hyrax Oil Sdn. Bhd, will set up a lubricant blending plant in Sri Lanka partnering with state-run Ceylon Petroleum Corporation, which owns the largest fuel distribution network in the country. The joint venture plant with an investment of 9 million US dollars will cater to the local and international […]
Tele Margin
May 10, 2014 (LBO) – Profits at Dialog Axiata, Sri Lanka’s largest mobile operator fell 21 percent from a year earlier to 1.25 billion rupees in the March 2014 quarter, amid a rise in expenses, interim accounts showed. The group which also has interests in fixed access and pay television reported earnings of 15.9 cents […]
Entertainment
May 10, 2014 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata group said its pay television business made profits of 132 million rupees in the March 2014 quarter up from a loss of 14 million rupees a year earlier.In 2013, revenues grew 21 percent to reach 3.6 billion rupees the firm said, […]
Chefs to showcase Sri Lanka in international culinary contest
May 10, 2014 (LBO) – Sri Lanka’s participation at Bocuse d’Or, a global culinary competition, is an opportunity to raise the country’s profile as a high quality tourism destination, senior chefs involved in the event said. Fernando said events like these will help Sri Lanka to achieve government set target of 2.6 million tourists by […]
‘s March exports up 26-pct, 1Q 15.7-pct: commerce ministry
May 09, 2014 (LBO) – Sri Lanka’s exports rose 26 percent from a year earlier to 1,060 million US dollars in March 2014 with apparels rising 31.9 percent to 454 million rupees, provisional data released by the commerce ministry showed. Tourist arrivals from the area have also gone up. Tea exports rose 19 percent to […]
Jail Term
May 09, 2014 (LBO) – A revenue official was jailed for 102 years on 34 counts related to a value added tax refund fraud and fined 12 billion rupees (91 million US dollars) along with several businessmen, a report said.The case involved the fraudulent refunds of value added tax involving amounting to 3.9 billion rupees, […]