Category:
Sri Lankan stocks close 0.98-pct up
July 26, 2010 (LBO) – Sri Lankan stocks closed higher and passed the 4,900 point mark Monday, as investors continued their buying spree, while there was systematic profit taking on selected high value and midcap companies, brokers said. The All Share Price Index closed at 4,943.53, up 48.02 points, while the more liquid Milanka index […]
Transport Costs
July 26, 2010 (LBO) – Shipping lines calling at Colombo port may have to raise freight rates to cover losses in recent years and return to profitability, Sri Lankan ship agents representing liners have said. Nimal Ranchigoda, chairman of the Ceylon Association of Ships’ Agents, said the shipping industry was in “dire straits” last year […]
Money Back
July 26, 2010 (LBO) – Depositors in a failed Sri Lankan finance company have been paid back part of their money in the first phase of a repayment scheme with assets of the firm to be sold to raise more funds, the regulator said. “The committee will decide on the next installment of payment to […]
Sri Lanka rubber prices rise on short supply
July 26, 200 (LBO) – Sri Lankan rubber prices rose again at last week’s auction on continued short supply as rain affected tapping but brokers said the shortage might ease if the current dry weather continues. “If the dry weather continues, in the next two weeks we might see increased volumes in the market.” Brokers […]
Mobile Performance
July 26, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1. 37 billion rupees in the June 2010 quarter compared with a loss of 7.24 billion rupees a year ago, a stock exchange filing said. Sales rose 14.3 percent to 10.16 billion rupees over the period while administration […]
Shares in India carmaker Maruti plunge on profit fall
MUMBAI, July 26, 2010 (AFP) – Shares in India’s biggest carmaker Maruti Suzuki plunged more than 10 percent on Monday after it reported a surprise 20-percent fall in quarterly net profit over the weekend. The shares of the New Delhi-based company, which is majority-owned by Japan’s Suzuki Motor Corp, were down by nearly 11 percent, […]
Sri Lanka economist with many faces: H N S Karunathilake
July 26, 2010 (LBO) – A scientist normally belongs to a single school of thought. He would follow the traditions, views and methods of that school to the letter. To the outside world, he shows himself up with a single face. Neville was practically teaching students in all the four years reading for economics and […]
Gas Concern
July 26, 2010 (LBO) – A large industrial user of liquefied petroleum gas as expressed concern over a proposed state take-over of a private gas distributor in Sri Lanka as energy sector management under state has created serious problems in the past. Lanka Tiles, a manufacturer and exporter of ceramic tiles says, it is braced […]
Northern Branch
July 25, 2010 (LBO) – State-run Indian Bank headquartered in Chennai, India is planning to open a branch in Sri Lanka’s former war torn Northern Jaffna peninsular and also in the central hills of the island, a media report said. The bank has another overseas branch in Singapore and is also looking at opening one […]
”, prices up: estate
July 25, 2010 (LBO) – Sri Lanka’s tea growing areas in the hill country is suffering from an ‘acute’ supply shortfall of fuel wood and prices are going up, a plantation company which is expanding its own timber cropping area has said. “With the acute shortage and rapidly increasing prices of fuel-wood in the hill […]
Test Case
July 25, 2010 (LBO) – An arbitration of a disputed derivative contract between an oil distributor in Sri Lanka and a German bank would be a test case on whether such deals would come under bi-lateral investment protection treaties, a media report said. Standard Chartered and Citibank had separately started action for breach of contract […]
Change Agents
ASPEN, July 25, 2010 (AFP) – Top technology and media executives wrapped up a three-day conference here during which they grappled with — and left unresolved — the question of whether readers will pay for news online. Firmly in the paid camp in the “paid vs. free” debate was News Corp.’s head of digital operations […]