Category: Industry
Oil Numbers
May 24, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation has posted higher profits in the March quarter helped by a provision write-back and supply of refined products to the Ceylon Petroleum Corporation. Lanka IOC posted net profits of 874 million rupees in the 3-months to March (344.7 million rupees in […]
Retail Takeover II
May 23, 2007 (LBO) – Listed firm Khsatriya Holdings said it had reached a deal with the owners of Kings Super retail chain to purchase its assets and brand name, which will add a billion rupee business to the firm which is building a diversified group. King™s Super chain of supermarkets has been operating for […]
Dot Mobile
A Colombo city guide on the internet, available on mobile phones, that offers useful services and shopping was launched this week.Billed as a ‘city guide in your hand’, colombocity.mobi (pronounced DotMobi) is a new development of made-for-mobile internet sites. The local site was launched by Infotechs in association with content providers like ‘Living’ magazine with […]
Security Hit
May 23, 2007 (LBO) – Alpha Airports, a UK firm which owns and operates the duty free liquor franchise at Colombo airport has warned of a downturn in business in a stock exchange filing. The company whose parent is listed in the London Stock Exchange said its airport retail stores in the UK grew 8 […]
No Gain
May 23, 2007 (LBO) – National Development Bank has reported group after-tax profits in the first quarter ending in March 2007 was 299 million rupees, a drop of 77 percent mainly because profit in the same quarter last year had been inflated by a share sale. NDB Bank posted a 1.3 billion rupee profit after […]
Tell All
May 23, 2007 (LBO) – A presidential commission appointed to probe failed finance companies is calling for members of the public to contact the commission before the end of May. “The Commission after perusal of such representations may invite any individual or organization for further discussion and/or to testify before the Commission,” the commission said […]
‘s On
May 23, 2007 (LBO) – Sri Lanka’s Central Bank says it has strengthened action against pyramid schemes and not halted or scaled down investigations in the recent past. “The Central Bank wishes to inform the public that it has in fact, contrary to such reports, strengthened its action against pyramid schemes,” the Central Bank said […]
New Link
May 23, 2007 (LBO) – Japan Wednesday gave Sri Lanka a 15-million-dollar loan to re-build a key bridge in the embattled north-western district of Mannar, the Japanese embassy said.The bridge will connect the Mannar islet with the rest of the mainland and also speed up work to resettle thousands of people displaced by the ongoing […]
Call Me
May 22, 2007 (LBO) — Sri Lanka plans to allow third parties to operate payphone booths in an attempt to popularise them in far flung areas outside the city of Colombo, a top official said. The island’s eight public switched telephone network (PSTN) operators will now be allowed to appoint a third party to operate […]
Trade Ties
May 22, 2007 (LBO) – Sri Lanka and the Maldives plan to set up a bilateral business council this week to promote trade and investment between the two countries, the Ceylon Chamber of Commerce said Tuesday. The Maldives is Sri Lanka’s the third largest trading partner in south Asia with the trade balance being in […]
Retail Takeover
May 22, 2007 (LBO) – Listed firm Kshatriya Holdings said it had reached a deal with the owners of Kings Super retail chain to purchase its assets and brand name. . “The total consideration is linked to the valuation of the assets,” Kshatriya Holdings said in a statement to the Colombo Stock Exchange. “Kshatriya Holdings […]
Sri Lanka media freedom, human rights, law and order sliding
May 22, 2007 (AFP) – Cases of murder, abduction, disappearance and intimidation surface almost daily in Sri Lanka as the South Asian nation appears to be sliding into lawlessness and war.With a truce between the government and the rebel Liberation Tigers of Tamil Eelam (LTTE) in tatters and peace talks long since abandoned, rights workers […]