Category: Industry
Sri Lankan climbers in Mt Everest expedition
Feb 18, 2016 (LBO) – Sri Lankan mountain climbers Jayanthi Kuru-Utumpala and Johann Peiris said Thursday they will launch an expedition to summit the world’s highest peak, Mt. Everest, this year. If successful, they will be the first Sri Lankans to do so. With over a decade of experience each, Kuru-Utumpala said they are confident […]
Sri Lanka stocks close down 0.2-pct; Insufficient liquidity level
Feb 18, 2016 (LBO) – Sri Lankan stocks closed down at 0.19 percent with mixed investor sentiment and active trading in some banking sector stocks on earning expectations, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.93 points down at 6,208.89 down 0.19 percent. The S&P SL20 closed 21.47 points up at […]
‘s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said. “The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their […]
Sri Lanka’s Sampath Bank net up 15-pct in Dec quarter
Feb 17, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 15 percent to 1.5 billion rupees in the December quarter from a year earlier, interim accounts showed. The group reported earnings of 8.91 rupees for the quarter against 7.74 rupees per share last year. For the year ended December the group […]
Sri Lanka’s hills to get new domestic airport
Feb 17, 2016 (LBO) – Sri Lanka’s Ministry of Transport and Civil Aviation said that a new domestic airport to land light aircraft’s will be constructed in Haputale, in the the island’s central hill country. “It will be for the purpose of landing light aircraft under the programme of promoting the internal airport network,” the […]
Laugfs Power acquires Pams Power for 2MW mini hydro
Feb 17, 2016 (LBO) – Laugfs Power, a wholly-owned subsidiary of Laugfs Gas PLC, announced the acquisition of Pams Power (Pvt) Ltd for 200 million rupees to set up a 2MW mini hydro power plant in Ginigathhena in the Nuwara Eliya district. The plant, expected to be commissioned in early 2017 with a total investment […]
Sri Lanka’s Dialog Axiata net down 58-pct in December quarter
Feb 17, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television, declined 58 percent to 620 million rupees from a year earlier in the December 2015 quarter, interim accounts showed. Revenues grew 16 percent to 20 billion rupees in the December quarter from a year […]
Alpha Fire Services launches new water mist technology to combat kitchen fires
Colombo. Tuesday 16 February 2016. Alpha Fire Services (Pvt) Ltd Sri Lanka will showcase the Proano Kitchen Water Mist Fire Suppression Systems, which are rapid and effective on kitchen (F/K class) of fires, at the forthcoming ‘Architect Exhibition’ to be held at BMICH from 18th to 21st February. Water Mist is nebulised fresh water distributed […]
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Feb 16, 2016 (LBO) – Saudi Arabia and Russia have agreed to ‘freeze’ crude oil output after talks in Qatar, fixing production at January levels. Saudi Oil Minister Ali Al-Naimi and Russian Energy Minster Alexander Novak opted not to cut back production, with Qatar and Venezuela also agreeing to participate, Al-Naimi said.Brent Crude was off […]
Oil Bills Shrink for Most APAC Sovereigns: Fitch
Feb 16, 2016 (LBO) – Falling oil prices – with the benchmark Brent crude having tumbled by 44 percent yoy as of 11 February 2016 and 75 percent from early 2013 – have had a mixed effect on Fitch-rated sovereigns in Asia, with Thailand being the top beneficiary and Vietnam and Malaysia most negatively affected, […]
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Fitch Ratings-Colombo-16 February 2016: Fitch Ratings has today assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed subordinated debentures of up to LKR7bn a final National Long-Term Rating of ‘A+(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received, and the final rating is the same as the expected […]
Lanka IOC profits up 45-pct in December quarter
Feb 15, 2016 (LBO) – Profits at Lanka IOC, a unit of Indian Oil Company rose 45 percent to 882 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 1.66 rupees per share in the quarter compared to earnings of 1.15 rupees per share posted a year ago. Revenue at […]