Category: Industry
Vehicle Trend
May 26, 2014 (LBO) – Sri Lanka’s commercial vehicle registrations continued were sharply down from a year earlier, especially trucks in April 2014, though motor cycle sales were up, an analysis by an equities research unit shows.Motor car registrations were flat at 1,917 units, only marginally down from 1977 units a year earlier. Among small […]
England skipper face injury doubt before Sri Lanka match
LONDON, May 24, 2014 (AFP) – England captain Alastair Cook could be ruled out of Sunday’s second one-day international against Sri Lanka at Chester-le-Street with a groin injury.Eoin Morgan — who led the Twenty20 side last week in place of the injured Stuart Broad — could again step in as captain should Cook miss out. […]
Jordan leads England to victory over Sri Lanka
LONDON, May 22, 2014 (AFP) – Chris Jordan starred with both bat and ball as England set off on the road to next year’s World Cup with a an 81-run win over Sri Lanka in a rain-marred one-day international at The Oval on Thursday.The Sussex all-rounder’s belligerent 38 not out off just 13 balls propelled […]
Credit Positive
May 23, 2014 (LBO) – A credit guarantee scheme announced by Sri Lanka for banks lending against gold is positive for banks which have been hit by defaults, Moody’s, a rating agency said.Moody’s said underwriting standards fell in Sri Lanka after 2009 and banks were advancing as much as 80 to 95 percent of loan-to-values […]
Lending Plan
May 22, 2014 (LBO) – Fitch Ratings which confirmed an ‘AA-(lka)’ rating of Hatton National Bank, Sri Lanka’s fourth largest commercial lender by assets said the it had boosted loans to larger firms.“HNB’s loan book is shifting towards larger, mid-sized corporates from its previous focus on retail and SME sectors, which, while adding to diversification, […]
Finance Rating
May 22, 2014 (LBO) – Fitch has confirmed a ‘A+(lka)’ rating of Sri Lanka’s Melsta Regal Finance based on expected support from its parent, ‘AAA(lka)’ rated Distilleries Company of Sri Lanka. MRF has expanded quickly since it started commercial operations in October 2012 as part of DIST group and Fitch expects that it will continue […]
Borrowing Strategy
May 22, 2014 (LBO) – Sri Lankan firms and banks should look at borrowing and lending longer term as interest rates and inflation fall, Central Bank Governor Nivard Cabraal said.Analysts say Sri Lanka’s banks and their customers borrow short term as excessive state intervention in the economy, especially in energy prices lead to sudden surges […]
Box Repairs
May 22, 2014 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in logistics, leisure and energy said it had opened a container repair and rigging facility.Dissanayake said the facility was part of the groups efforts to provide demand chain management solutions. The unit will operate 24 hours and will provide all weather under […]
Cricket: Perera sets up Sri Lanka win over England
LONDON, May 20, 2014 (AFP) – Thisara Perera starred with both bat and ball as Sri Lanka gained revenge for their World Twenty20 defeat by England with a nine-run win at The Oval on Tuesday. Man-of-the-match Perera made a rapid 49 in World Twenty20 champions Sri Lanka’s 183 for seven and then captured the important […]
Sri Lanka textile maker says European orders strong, US buyers cautious
May 21, 2014 (LBO) – Demand from US retailers have softened in recent months but European demand was still strong, Textured Jersey, a Sri Lanka based textile maker said. Revenues grew 7 percent to 3.2 billion rupees, costs grew 6.2 percent to 2.8 billion rupees and the firm grew gross profits 13.9 percent to 402 […]
Leaving
May 20, 2014 (LBO) – Tony Weeresinghe, founder of Sri Lanka based MillenniumIT, is to leave the London Stock Exchange group, a media report said. Bloomberg newswires said Weeresinghe planned to leave at the end of June. The report quoted LSE Chief Executive Xavier Rolet as saying in a note to staff that he was […]
Brand Summit
May 21, 2014 (LBO) – Sri Lanka’s LBR-LBO Brand Summit kicked off Wednesday with international and regional experts and practitioners from top corporates in the island participating. The speakers represent a wide range of industries: financial services, hospitality,FMCG, communication, research, consumer durables, technology and export manufacturing, and are from leading local companies and multinationals. These […]