Category:
Sri Lanka state bank dividends, levies boost revenues
June 03, 2013 (LBO) – Sri Lanka’s state banks and insurance funds have contributed 23 billion rupees or about 0.3 percent of gross domestic product to state revenues in 2012, official data showed. State enterprises such as Lak Sathosa also operate without paying value added tax. Corrected, revenues of 2013
Sri Lanka needs quick, cost-based energy tariffs: Treasury
June 3, 2013 (LBO) – Sri Lanka needs quick cost-based energy pricing to avoid balance of payments pressure and stop bank credit being used for consumption, a finance ministry report has said.The overall national savings rate is further undermined by the deficit in the current account of the budget, where the state spends in current […]
Sri Lanka cigarette production down 15-pct
June 01, 2013 (LBO) – Sri Lanka’s cigarette production has slumped 15 percent over two decades to 4.27 billion sticks and 21 percent of the male population and 0.8 percent of the female population still smoked, a media report said.The Island newspaper quoted the Pubudu Sumanasekara, the Alcohol and Drug Information Centre (ADIC), an anti […]
Cricket: Kohli, Karthik tons help India beat Sri Lanka
BIRMINGHAM, United Kingdom, June 01, 2013 (AFP) – Virat Kohli and Dinesh Karthik both hit centuries as India warmed up the forthcoming Champions Trophy with an impressive five-wicket win against Sri Lanka at Edgbaston on Saturday.Mahendra Singh Dhoni’s team looked up against it when Sri Lanka posted an imposing total of 333-5 after being put […]
Financial Expansion
May 31, 2013 (LBO) – A new finance company unit of Sri Lanka’s Richard Peiris group will focus and core hire purchase and leasing but expects to gain an from group synergies, officials said.Richard Pieris Arpico Finance, a Central Bank registered firm, has been capitalized with 400 million rupees and which will be topped up […]
Cyber Charge
SINGAPORE, June 01, 2013 (AFP) – US Defense Secretary Chuck Hagel on Saturday accused Beijing of involvement in cyber espionage against Washington in a speech at a Singapore security forum attended by Chinese military officials.China kept up a steady campaign of hacking in 2012 that included attempts to target US government computer networks, which could […]
Sri Lanka, Thailand agree on defence cooperation
May 31, 2013 (AFP) – Sri Lanka and Thailand Friday called for enhanced defence and maritime security cooperation to tackle terrorism, President Mahinda Rajapakse’s office said.The two countries agreed to share more intelligence at the start of an overnight visit to Sri Lanka by Thai Prime Minister Yingluck Shinawatra, the presidential secretariat said in a […]
Banking Gains
May 31, 2013 (LBO) – Sri Lanka’s DFCC Bank group has reported net profits of 1.2 billion rupees in the March 2013 quarter, up 63 percent from a year earlier, helped by higher interest income. The group reported earnings of 4.63 rupees per share reporting on accounts filed with the Colombo stock exchange using Sri […]
Retail Woes
May 31, 2013 (LBO) – Odel Plc, a unit of Malaysia’s Parkson Retail Asia Limited, lost 16.3 million rupees in the March 2013 quarter, retreating from a 26. 6 million rupee profit from a year earlier as it was hit by a new value added tax on retailing. The firm reported losses of 9 cents […]
Health Check
May 31, 2013 (LBO) – Profits at Sri Lanka’s Asiri Hospital Holdings Plc, edged up 2.9 percent to 269 million rupees in the March 2013 quarter from a year earlier, helped by non operating gains, accounts showed. In the March 2012 quarter there were 205 million rupees of fair value gains which were absent this […]
Phone Search
SAN FRANCISCO, May 30, 2013 (AFP) – Google revealed Thursday that it has two new sophisticated Android smartphones in the works, one of which will have the unprecedented distinction of being made in the United States. An HTC One smartphone customized to be “Google’s take on Android” will make its US debut on June 26 […]
Indian economy grows at slowest rate in a decade
NEW DELHI, May 31, 2013 (AFP) – India’s economy grew by 5.0 percent in 2012/2013, its slowest annual rate in a decade, in another blow to the corruption-hit government ahead of national elections due by next year, data showed Friday.India’s wholesale inflation, its most widely watched measure, cooled last month to a surprise 41-month low […]