Category: Industry
Smart Trend
SINGAPORE, May 11, 2014 (AFP) – Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones.“As smartphones become more commonplace… consumers in emerging markets will become more demanding and willing and […]
Asset Retreat
May 12, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 21 percent from a year earlier to 1,2 billion rupees in the March 2014 quarter helped by loan loss reversal and other income while net interest income fell. The group reported earnings of 7.50 rupees per share for the quarter. Group interest income […]
Margin Growth
May 12, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits rose 2 percent in the March 2014 quarter to 2,301 million rupees from a year earlier, with helped by higher net interest income and trading gains.The group reported earnings of 2.71 rupees per share, in interim accounts filed with the Colombo Stock […]
Debt Raising
May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]
Lube Moves
May 10, 2014 (LBO) – Malaysia’s Hyrax Oil Sdn. Bhd, will set up a lubricant blending plant in Sri Lanka partnering with state-run Ceylon Petroleum Corporation, which owns the largest fuel distribution network in the country. The joint venture plant with an investment of 9 million US dollars will cater to the local and international […]
Tele Margin
May 10, 2014 (LBO) – Profits at Dialog Axiata, Sri Lanka’s largest mobile operator fell 21 percent from a year earlier to 1.25 billion rupees in the March 2014 quarter, amid a rise in expenses, interim accounts showed. The group which also has interests in fixed access and pay television reported earnings of 15.9 cents […]
Entertainment
May 10, 2014 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata group said its pay television business made profits of 132 million rupees in the March 2014 quarter up from a loss of 14 million rupees a year earlier.In 2013, revenues grew 21 percent to reach 3.6 billion rupees the firm said, […]
Chefs to showcase Sri Lanka in international culinary contest
May 10, 2014 (LBO) – Sri Lanka’s participation at Bocuse d’Or, a global culinary competition, is an opportunity to raise the country’s profile as a high quality tourism destination, senior chefs involved in the event said. Fernando said events like these will help Sri Lanka to achieve government set target of 2.6 million tourists by […]
‘s March exports up 26-pct, 1Q 15.7-pct: commerce ministry
May 09, 2014 (LBO) – Sri Lanka’s exports rose 26 percent from a year earlier to 1,060 million US dollars in March 2014 with apparels rising 31.9 percent to 454 million rupees, provisional data released by the commerce ministry showed. Tourist arrivals from the area have also gone up. Tea exports rose 19 percent to […]
Logistics Hub
May 09, 2014 (LBO) – Japan based Sagawa logistics group has bought a 30 percent stake in Sri Lanka’s Expolanka Holdings Plc and official said with the firm expected to take its share up to 51 percent. SG Holdings bought 586 million shares at 10.70 rupees a share Friday. Grouo chief executive Hanif Yusoof said […]
Nestle Sri Lanka unit says coconut milk exports, profits up
May 08, 2014 (LBO) – Nestle Lanka Plc said profits rose 20 percent from a year earlier to 1.1 billion rupees in the March 2014 quarter with revenue gains helped by exports coconut milk powder.In the March quarter the firm had launched cold beverage vending machines that which dispense Nescafé ice coffee and Nestea ice […]
Logistics Hub
May 8, 2014 (LBO) – Expo Global Distribution Centre (EGDC) a logistic firm set up under Sri Lanka’s free port regulation aimed at boosting entrepot trade and multi-country consolidation has begun operations. “As a prominent player in Sri Lanka’s Freight and Logistics sector, we find the Government’s strategic approach to encouraging the sector heartening.” The […]