Category:
Sri Lanka July tourism arrivals up 28-pct
Aug 14, 2009 (LBO) – Foreign visitors to Sri Lanka increased 28 percent in July from a year earlier, with Western Europe and South Asia generating markets showing steep increases, the island’s tourism promotion office said. A 30-year internal conflict ended in May with the leadership of Tamil Tiger separatists being wiped out by the […]
Sri Lanka Allianz unit June net up 219-pct
Aug 14, 2009 (LBO) – The Sri Lanka unit of Allianz Insurance, a German insurer, said net profit for the June 2009 quarter shot up 218.6 percent to 58.6 million rupees from a year ago. Allianz has expanded its branch network to the provinces and now has a presence in Kurunegala, Galle and Negombo. The […]
Fuel Loss
Aug 14, 2009 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, said it lost 856.7 million rupees in the June 2009 quarter, down from a profit of 1.0 billion rupees a year earlier, as it was squeezed between high taxes and government mandated prices.The import price of diesel and also kerosene is higher […]
Sri Lanka Mercantile Investments rating confirmed by RAM
Aug 14, 2009 (LBO) – RAM Ratings Lanka has confirmed the ‘A’ rating of Mercantile Investments Limited (MIL), a registered finance company in Sri Lanka. with a ‘negative’ outlook. “The negative outlook is premised on the Company’s rising delinquencies, which have been impinging on its financial performance,” RAM ratings said in a statement. “Nonetheless, the […]
US promotes Sri Lanka investment
Aug 14, 2009 (LBO) – The United States is holding a conference in Colombo in October, with participation of Sri Lankan officials for US firms to explore investment opportunities following the end of a 30-year war in the country. “This private-public conference will provide U.S. firms a unique opportunity to be among the first investors […]
Sri Lanka to issue US$500mn sovereign bond in Sept-Oct: report
Aug 13, 2009 (LBO) – Sri Lanka will issue a 500 million US dollar 5-year sovereign bond in late September or early October to international investors, a media report said.“Minimum benchmark size in the international capital market is $500 million,” Reuters news agency quoted C.J.P. Siriwardena, head of Sri Lanka’s government debt office as saying. […]
Sri Lankan stocks close flat as buyers take stock of earnings
Aug 13, 2009 (LBO) – Sri Lankan shares closed flat on Thursday as retail investors recovered from a spate of weak earnings the June quarter, while plantation stocks that had exposure to tea picked up in price, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.08 percent (1.95 points) to end […]
Promotions
Aug 13, 2009 (LBO) – Sri Lanka’s Central Bank said it has promoted six officers as Assistant Governor with effect from August 10, 2009. The officers are W M Karunaratne, P Liyanage , J P Mampitiya, C K Nanayakkara, B D W A Silva and P N Weerasinghe. “These promotions have been made in line […]
Bank Numbers
Aug 13, 2009 (LBO) – Sri Lanka’s Commercial Bank said group profits rose 2.7 percent to 1,122.1 million rupees in the June 2009 quarter from a year earlier, while revenues rose 2.0 percent to 11.0 billion. Interest income fell 1.3 percent to 8.96 billion, interest expenses rose 1.8 percent to 6.12 billion rupees, causing interest […]
Migrant Impact
Aug 13, 2009 (LBO) – Migrants are left out of current stimulus packages and HIV/AIDS programmes are under threat, according to a new United Nations study.The paper, released at the ninth International Congress on AIDS in Asia and Pacific in Bali this week, said the adverse impact of the financial crisis on health and migration […]
Write Down
Aug 13, 2009 (LBO) – Dialog Telekom, a unit of Malaysia’s Axiata and the island’s top celco said it lost 7.6 billion rupees in the June 2009 quarter on a 6.0 billion rupee one-off write-down of older network equipment. Dialog Broadbband, a fixed and broadband unit had shown revenues of 556 million rupees.Group revenues fell […]
Stiff Competition
Aug 13, 2009 (LBO) – Sri Lanka’s Hutchison Telecom International unit lost subscribers in the June 2009 quarter, but the firm is continuing network expansion that will see 65 percent population coverage by the end of the year, the company said. Hutchison said subscriber dropped to 536,000 by end June from 772,000 in March. In […]