Category:
Sri Lanka city hotel deep in red
Jan 24, 2012 (LBO) – Galadari Hotels (Lanka) Plc, a hotel in Sri Lanka’s capital Colombo said it lost 199.6 million rupees in the December 2011 quarter against a profit of 35. 4 million rupees a year earlier, hit by an exchange loss. Galadari has 9.1 billion rupees in accumulated losses and 1.3 billion rupees […]
Sri Lanka bought leaf tea factory makes loss
Jan 24, 2011 (LBO) – Sri Lanka’s Tea Smallholder Factories Plc, a unit of John Keells Holdings said it lost a million rupees in the December 2012 quarter compared with a 41 million a year earlier, as revenues fell. . Revenues fell 17 percent to 510 million rupees in the quarter while cost of sales […]
Tech Leader
Jan 24, 2012 (LBO) – MillenniumIT, a securities trading technology provider said it is expanding a software development complex in Sri Lanka with business volumes growing after it became part of the London Stock Exchange group. MillenniumIT was bought by the London Stock Exchange in 2009 now has a staff of 600 in Sri Lanka. […]
Sri Lanka ExpoAir resumes Jaffna flights
Jan 24, 2012 (LBO) – ExpoAir, a domestic aviation company in Sri Lanka, has decided to resume regular flights from the capital Colombo to the former northern war zone of Jaffna, targeting mainly business travellers. The company will operate twice daily flights using a new Cessna Grand Caravan 12-seater aircraft covering the distance in one […]
Sri Lanka Aviva Eagle gilt fund gets top rating
Jan 23, 2012 (LBO) – NDB Aviva Wealth Management’s Eagle Gilt Edged Fund has been rated (SL) AAAmf, by ICRA Lanka Limited, a rating agency which is an associate of Moody’s Investors Service. Launched in December 1997, the Eagle Gilt Edged Fund invests in government and government guaranteed securities. “The fund has been very popular […]
Sri Lanka shares plunge 02-pct
Jan 23, 2012 (LBO) – Sri Lankan shares plunged Monday amid continued selling pressure and are now down almost 4.5 percent since credit rules were relaxed by the regulator. The main All Share Price Index closed down 2. 04 percent (118.04 points) at 5,663.09, while the more liquid Milanka index fell 2.14 percent (105.18 points) […]
Terminal Control
Jan 23, 2012 (LBO) – China Merchant Holdings (International), a Hong Kong listed Chinese state firm, is to up its stake in a container terminal venture at Sri Lanka’s Colombo port by 30 percent to 85 percent with the exit of a private consortium partner. Sri Lanka’s listed Aitken Spence group said it received approval […]
Fancy Finance
Jan 23, 2012 (LBO0 – Sri Lanka’s Senkadagala Finance said net profit rose 106 percent to 146 million rupees in the December 2011 quarter from a year ago. Total assets of the company were 10 billion rupees as at December 31, 2011, up from 6. 9 billion rupees as at March 31, 2011. Since getting […]
Retail Strength
Jan 23, 2012 (LBO) – Fitch Ratings Lanka has assigned Abans (Private) Limited’s proposed senior unsecured debenture issue of up to 500 million rupees a national long-term rating of ‘A-(lka)’. The debenture will rank equally with other senior debt of Abans, a statement from the rating agency said. “The rating reflects Abans’ strong market position […]
Bacteria Battle
Jan 23, 2012 (LBO) – Sri Lanka has completed the first phase of a four-year project to study microbial resistance to antibiotics, which is a serious problem worldwide and puts a strain on healthcare systems. The first report of the surveillance of microbial sensitivity to antibiotics, initiated by the Sri Lanka College of Microbiologists (SLCM) […]
Indian food prices ease for third week
NEW DELHI, Jan 23 (AsiaPulse) – Indian food inflation remained in the negative zone for the third straight week, at (-)0.42 per cent for the week ended January 7, mainly due to fall in prices of onion and vegetables. Food inflation, as measured by the Wholesale Price Index (WPI), was at (-) 2.90 per cent […]
Indian regulator fines 17 entities for securities fraud
MUMBAI, Jan 23 (AsiaPulse) – Indian regulator Sebi has imposed penalty totalling Rs 24 lakh (US$47,788) on 17 entities on charges ranging from non-disclosure of acquisition of shares to involvement in fraudulent trade practices in dealing with shares of Platinum Corporation Ltd (BSE:532117). In separate orders, Sebi fined Platinum Corporation Promoter and Director Pratik Shah […]