Category: Industry
Friendly Fire
LONDON, Nov 29 (AFP) – Dubai Ports World (DPW) announced on Tuesday a recommended takeover of P&O, valuing Britain’s biggest ports and ferries group at 3.326 billion pounds (4.852 billion euros, 5.739 billion dollars). LONDON, Nov 29 (AFP) – Dubai Ports World (DPW) announced on Tuesday a recommended takeover of P&O, valuing Britain’s biggest ports […]
Buyers’ Guide
The local ‘kade’ stocking everything from Marmite to light bulbs may not lose out to supermarkets just yet, as brand loyal Sri Lankans would rather switch shops than swap brands. The local ‘kade’ stocking everything from Marmite to light bulbs may not lose out to supermarkets just yet, as brand loyal Sri Lankans would rather […]
Catch 22
State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. State-run National Savings Bank’s net profits slip 13 percent as rising interest rates and stiff competition from private banks puts pressure on its bottomline. Selected Indicators:
Be Careful
Low condom use and thriving sex trade makes Sri Lanka a hot bed for AIDS.Low condom use and thriving sex trade makes Sri Lanka a hot bed for AIDS. Sri Lanka had around 4,800 HIV-infected people, including children, by end of 2002 which is a low prevalence rate compared to the total population of 19 […]
Friendly Hand
Sri Lanka on Tuesday picked up a Rs.80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. Sri Lanka on Tuesday picked up a Rs. 80 million (JP¥ 90 million) grant to draw up plans to renovate the Jaffna Teaching Hospital, the finance ministry said. […]
Matching Targets
State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise.State-run People’s Bank has met its performance targets for this year, but a promised capital injection is yet to materialise. The technically insolvent bank said Tuesday that its net profits were down 10.6 percent to Rs. […]
Blood Brothers
Sri Lanka’s Central Bank has approved the merger between Nations Trust Bank and Mercantile Leasing Ltd, a key shareholder of both units said Sunday.Sri Lanka’s Central Bank has approved the merger between Nations Trust Bank and Mercantile Leasing Ltd, a key shareholder of both units said Sunday. Shareholders of both entities approved the transaction where, […]
Spreading the Aroma of Cinnamon
John Keells Holdings, a listed conglomerate, says their re-branding of some hotel properties as Cinnamon is part of the group’s overall reorganization.John Keells Holdings, a listed conglomerate, says their re-branding of some hotel properties as Cinnamon is part of the group’s overall reorganization. The group reorganized operations under different sectors earlier this year. John Keells […]
Strategic Failure
Management accountant practices could be better used for strategic planning than already done in listed companies according to some academics who studied their use.Management accountant practices could be better used for strategic planning than already done in listed companies according to some academics who studied their use. They presented their findings to the CIMA Sri […]
Hot Water
Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins.Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins. Lanka IOC […]
Under Valued
The bulk of Sri Lanka’s management accountant fraternity is busy crunching numbers or working in unrelated fields rather than doing a job for which they qualified, a recent survey showed.The bulk of Sri Lanka’s management accountant fraternity is busy crunching numbers or working in unrelated fields rather than doing a job for which they qualified, […]
Bullish Sentiment
Dialog Telekom Ltd, Sri Lanka’s largest cellular operator said Thursday that its net profits for the third-quarter jumped 42 per cent as it aggressively expanded its subscriber base. Dialog Telekom Ltd, Sri Lanka’s largest cellular operator said Thursday that its net profits for the third-quarter jumped 42 per cent as it aggressively expanded its subscriber […]