Category:
‘s biggest car maker reports 15% sales rise
MUMBAI, March 1, 2011 (AFP) – India’s largest car maker Maruti Suzuki reported on Tuesday a 15.5-percent rise in sales in February. Total sales rose to 111,645 cars in the month from 96,650 a year earlier, said Japanese-owned Maruti, which dominates the Indian market with a 45-percent share. Passenger and commercial vehicle sales have been […]
Pilot killed as Sri Lankan fighter jets collide
March 1, 2011 (AFP) – Two Sri Lankan fighter jets collided in mid-air during an aerobatics training exercise on Tuesday, killing one of the pilots. The pilots from both of the Israeli-built Kfir aircraft ejected, but one of them died while being taken to hospital, a government official said. The crash occurred as the aircraft […]
‘s Jayawardene mulls action over corruption allegation
March 1, 2011 (AFP) – Sri Lanka’s former skipper Mahela Jayawardene is reportedly considering suing a state-run television network for hinting he may have helped fix a World Cup match against Pakistan. Many Sri Lankan players have been investigated by the International Cricket Council over match-fixing in the past. Jayawardene, who lost his middle stump […]
Sri Lanka risks forced war crimes probe: US
March 1, 2011 (AFP) – Sri Lanka could be hauled before a war crimes tribunal over the killing of “many thousands of civilians” in the final months of its separatist war with Tamil rebels, a top US official said. In the toughest warning since the end of fighting in May 2009, US Assistant Secretary of […]
Sri Lanka tea exporter to expand in Russia
Mar 01, 2011 (LBO) – Riston Group, a big Sri Lankan tea exporter to Russia, plans to expand production there with a new factory and also penetrate other markets, company officials said. The firm intends to set up a factory with a floor area of 150,000 square feet this year, which will help to cut […]
Sri Lanka port to double bunker storage
Mar 01, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) said it is more than doubling bunker storage facilities in Colombo port to cater to an increasing number of ship fuel suppliers. Sales volumes have increased in recent months and the number of bunker supply license holders had increased to 11 from eight in […]
Sri Lanka shares close up 1.1-pct
Feb 28, 2011(LBO) – Sri Lankan stocks closed 1.11 percent higher Monday with gains in illiquid stocks like Guardian Capital and Carson Cumberbatch and Company, brokers said. The Carsons group announced plans to buy minority stakes in its Malaysian oil palm units as part of a revamp to prepare for bigger investments and expansion outside […]
Shipyard Show
Feb 28, 2011 (LBO) – Colombo Dockyard’s December 2010 quarter net profit more than doubled to 739 million rupees from a year ago despite flat sales while annual profits fell as repair work suffered from competition, a statement said. The Sri Lankan listed ship builder’s December 2010 quarter net was up 123 percent compared with […]
Industrial Port
Feb 28, 2011 (LBO) – Investors who bid to set up industries in a new port in southern Sri Lanka are to start building their factories in March, Sri Lanka Ports Authority chairman Priyath Wickrama said. He said 23 proposals of 27 received for the deep-water Hambantota port on the south coast had qualified. “Three […]
Double Profits
LONDON, February 28, 2011 (AFP) – Banking giant HSBC said on Monday that its net profit more than doubled to $13.16 billion (9.56 billion euros) last year as bad debts plunged to the lowest level since 2006. HSBC said in a results statement that pre-tax profits soared by nearly 170 percent to billion in 2010, […]
Bank Rating
Feb 28, 2011 (LBO) – RAM Ratings Lanka has assigned a long-term BBB rating to Union Bank with a stable outlook and a short-term rating of P3, a statement said. “The ratings are premised on the bank’s healthy capitalisation as well as adequate funding and liquidity positions,” the rating agency said. “On the other hand, […]
Bank Status
Feb 28, 2011 (LBO) – Sri Laka’s Seylan Bank, under regulatory re-structuring reported a 387. 2 million rupee profit for the December quarter from a loss of 30. 4 million a year earlier, helped by foreign exchange profits and cost controls. Full year profits rose 176 percent to 1,207 million rupees. The group reported earnings […]