Category: Industry
Housing Boom
May 22, 2007 (LBO) – Consolidated net profits at HDFC Bank, a mortgage lender, grew 35 percent while revenues grew 40 percent for the quarter ending March 2007. HDFC group net profit after tax rose to 113.8 million rupees from 83.9 million in the first quarter this year while total revenue increased to 521 million […]
Sri Lanka hunt for Moody replacement
May 19, 2007 (AFP) – World Cup runners-up Sri Lanka have formally started looking for a replacement for outgoing cricket coach Tom Moody, officials said here on Saturday. “We have started today advertising for a replacement for Tom Moody,” Sri Lanka Cricket (SLC) spokesman Samantha Algama told AFP. He said notices would appear on international […]
Tourist arrivals to Sri Lanka continue to slide fighting escalates
May 21, 2007 (AFP) – The number of holidaymakers visiting Sri Lanka fell by nearly 20 percent in the first four months of this year as fighting between troops and Tamil rebels escalated, the tourism authority said Monday.Visitor numbers to Sri Lanka dropped to 167,674, down 19.9 percent over the corresponding period of last year. […]
New Port
May 21, 2007 (LBO) – Four investor groups have sent in bids to build the infrastructure and do the dredging for the Colombo Port Expansion Project, a new deep-water harbour next to Colombo. The new port will be designed to handle ships with a draft of 16 metres and as long as 400 metres. Sri […]
Pakistan beat Sri Lanka by 5 wickets in 1st ODI
ABU DHABI, May 18, 2007 (AFP) – Pakistan beat Sri Lanka by five wickets in the 1st ODI here on Friday after a superb 73 off just 34 balls from Shahid Afridi.He even managed to hit 32 off just one over for the second highest number of runs scored in an over, to convert what […]
Technology Edge
May 19, 2007 (LBO) – Information technology has a component that gives the technology a competitive advantage in business, IT specialists say. That component gets commoditised but companies must come up with new components to stay on the top, they say. œThere is definitely a component of IT which is really giving the competitive advantage […]
Extra Time
May 18, 2007 (LBO) — Sri Lanka’s telecom watchdog has given the island’s first Internet service provider, Lanka Internet Services Ltd., extra time to restore services to thousands of customers currently stranded offline, after the company halted services, a top official said. Lanka Internet hit financial difficulty in March with the senior management disappearing without […]
New Deal
May 18, 2007 (LBO) – A new deal between the buyer of Japan’s NTT stake in Sri Lanka Telecom and the government is being hammered out in a way that will protect the interests of the 49 percent state holding, a top government official said. Treasury Secretary P B Jayasundera told reporters there was no […]
Copy Not
May 18, 2007 (LBO) – Sri Lankans are still not aware of the gravity of copyright violations, according to Viinod Nair, representative of top photo agency Getty Images, which has just entered the local market. Nair is president of sales marketing and strategy for Visage Media Services, based in Hyderabad, India which has tied up […]
No Risk
May 17, 2007 (AFP) – Insurance rates for airlines operating to Sri Lanka are expected to remain unchanged after the government’s decision to shut the airport here for night flights following rebel air raids, officials said Thursday.Sri Lanka’s only international airport halted night flights last Thursday in line with new security measures following several night-time […]
Tele Record
May 17, 2007 (LBO) – Telekom Malaysia sold a small part of its 87 percent stake in Dialog Telekom Thursday, driving turnover on the Colombo bourse to an all-time high of over 6.6 billion rupees. More than 233.6 million Dialog shares, part of the seven percent placement, done by CT Smith Stockbrokers, went through at […]
Direct Contact
May 17, 2007 (LBO) – Sri Lankan unit trusts, which collectively have an investment fund of over five billion rupees, are seeking to popularise their instruments among less sophisticated investors. The island’s regulator, Securities and Exchange Commission, Wednesday pledged 13 million rupees to the Unit Trust Association to initiate public awareness campaigns on investing in […]