Category:
Financial Reality
Aug 10, 2009 (LBO) – Sri Lankan commercial banks which seem to enjoy wide interest margins on the surface have low profitability, amid high taxation and rising bad loans, a senior banker has warned.“Capital providers would probably not think of banks as a prime sector to invest in this market” Nihal Fonseka, chief executive of […]
Tele Calls
Aug 10, 2009 (LBO) – Profits of Sri Lanka Telecom group, fell 75 percent to 375 million in the June 2009 quarter, while revenues stayed flat at 11.74 billion rupees, with growth in data and mobile sectors, the company said. Operating costs rose 26 percent to 7.39 billion rupees, partly on account of Mobitel network […]
”” futures: Indian FM
MELBOURNE, August 10, 2009 (AFP) – “Dubious” Australian colleges are ruining the future prospects of young Indian students and trashing the country’s reputation abroad, India’s foreign minister said in comments published Monday.S.M. Krishna, visiting Australia to express concern over a wave of street assaults on Indian students, said there was concern in New Delhi about […]
Indian car sales jump 31 percent
NEW DELHI, August 10, 2009 (AFP) – Indian car sales jumped for a sixth straight month in July, climbing an annual 31 percent, as new launches and cheaper finance boosted demand, industry figures showed Monday. Domestic passenger car sales rose to 115,067 units in July from 87,901 units a year ago, the Society of Indian […]
Sri Lanka coast guard sets up bases
Aug 10, 2009 (LBO) – Sri Lanka’s new coast guard has begun setting up bases and will get vessels from the navy for initial patrol work to protect ocean resources and for maritime security, its director-general Daya Dharmapriya said. The coast guard will get vessels for both offshore and inshore patrolling and also intends to […]
US gives food aid to speed up refugee settlement
Aug 10, 2009 (LBO) – The United States said it had donated another 15 million dollars of food to help resettle people displaced by Sri Lanka’s ethnic war whose early return to their homes Washington is pressing for. The US embassy said in a statement the aid through the US Agency for International Development (USAID), […]
Sri Lankan hotel investment by Nepal firm Rs175mn: report
Aug 09, 2009 (LBO) – A Nepal conglomerate has paid 175 million rupees to buyout the Sri Lanka’s listed Hayleys group from two hotels it held jointly with the Jetwing leisure group, a media report said. Jetwing manages and part owns Lighthouse Hotel with the Hayleys group. It also manages listed Hunas Hotels, another Hayleys […]
Sri Lanka Bogawantalawa in US tea deal with multinational
Aug 09, 2009 (LBO) – Sri Lankan tea growing and marketing company Bogawantalawa Tea Estates said in a statement it was in talks with a multinational to sell packaged tea in the United States.Bogawatalawa Tea Estates manages 14 estates on 8,000 hectares at elevations of 3,000-5,000 feet and also sells tea, including iced teas, in […]
‘s foreign workers
KATHMANDU, August 9, 2009 (AFP) – When Anita Gimmi was unable to find work in her native Nepal last year, she borrowed 1,300 dollars and travelled to Qatar to take up a two-year contract with a cleaning company there.Less than a year later, the 26-year-old has been forced to return home still heavily in debt […]
”
MUMBAI, August 9, 2009 (AFP) – The traditional image of finishing schools is of the Swiss Alps, where elegant young ladies from well-to-do families learn to walk, talk and make conversation before entering polite society. Now India is looking to the model for the three million or so graduates it produces every year to refine […]
Sri Lanka crushed by Pakistan in final one-dayer
August 9, 2009 (AFP) – Skipper Younus Khan led the way as Pakistan defeated Sri Lanka by 132 runs in the fifth and final one-day international here on Sunday.Younus top-scored with 76 and Misbah-ul Haq hit an unbeaten 73 to steer Pakistan to 279-8 after they won the toss and elected to bat in the […]
Pro-Tiger party wins one Sri Lanka council
August 9, 2009 (AFP) – A party that backs the defeated Tamil Tiger rebels won a council in elections near Sri Lanka’s former war zone, results showed Sunday, in a sign that separatists still attract popular support.Widespread international concern was voiced over the number of civilians killed during the fighting, while aid groups now fear […]