Category: Industry
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 […]
Auction Block
The government is planning to sell more than a billion rupees worth of land via the Colombo Stock Exchange, the newly re-appointed Trade Minister Jeyeraj Fernandopulle said.The government is planning to sell more than a billion rupees worth of land via the Colombo Stock Exchange, the newly re-appointed Trade Minister Jeyeraj Fernandopulle said. The 226 […]
New Master
Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal discipline and scare off investors. Sri Lanka’s treasury secretary on Thursday vowed to translate president Mahinda Rajapakse’s subsidy-laden manifesto into economic jargon, though analysts warn that it could undo fiscal […]
Night Shift
Sri Lanka Telecom, the island’s largest fixedline operator, said Wednesday its group net profits rose 91 percent to Rs. 2.5 billion, for the nine months to Sept. 30 2005, over the same period last year. Sri Lanka Telecom, the island’s largest fixedline operator, said Wednesday its group net profits rose 91 percent to Rs. 2.5 […]
Going Home
Sri Lanka’s tsunami orphans going to new homes but childcare authorities still can’t reconcile the numbers.Sri Lanka’s tsunami orphans going to new homes but childcare authorities still can’t reconcile the numbers. Thousands of Sri Lankan children were orphaned last year when the December 26, 2004 tsunami killed both parents or a single remaining parent. Now, […]
SriLankan Airlines sells Sri Lanka to surfers
Japanese surfers, scuba divers and even mountaineers are finding a sporting paradise in Sri Lanka, traditionally a cultural hotspot among most Japanese. Japanese surfers, scuba divers and even mountaineers are finding a sporting paradise in Sri Lanka, traditionally a cultural hotspot among most Japanese. “We have been promoting Sri Lanka to different market segments as […]
Ready to Merge
Mercantile Leasing Limited’s shareholders will go into an emergency meeting next week to approve a deal to merge with group peer Nations Trust Bank.Mercantile Leasing Limited’s shareholders will go into an emergency meeting next week to approve a deal to merge with group peer Nations Trust Bank. The emergency meeting set for November 28, follows […]