Category: Industry
Margin Gains
Feb 28, 2014 (LBO) – Profits at Sri Lanka’s Seylan Bank Plc rose 71 percent to 797 million rupees in the December 2013 quarter from a year earlier, on wider margins, despite higher loan losses, interim accounts showed. Group gross assets rose 17.3 percent to 217 billion rupees in the 12 months to December with […]
Tough Quarter
Feb 28, 2014 (LBO)- Profits at Sri Lanka’s Hatton National Bank fell 38 percent to 1.8 billion rupees in the December 2013 quarter amid shrinking net interest income, interim accounts showed. The group reported earnings of 4.73 rupees per share. In the year to December the group reported earnings of 19.20 rupees per share on […]
Loan Growth
Feb 28, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank Plc fell 31 percent to 1.0 billion rupees, in the December 2013 quarter from a year earlier, amid higher loan losses, interim accounts showed. Gross assets rose 24 percent to 391 billion rupees and net assets rose 14 percent to 31.6 billion rupees. The […]
Dhaka Gladiators owner convicted of match-fixing
DHAKA, February 26, 2014 (AFP) – A special tribunal convicted one of the owners of the Dhaka Gladiators Wednesday of match-fixing in the tainted Bangladesh Premier League, while three international cricketers pleaded guilty in the 2013 scandal, officials said. Shihab Jishan Chowdhury, managing director of the reigning BPL champions, was found guilty of one charge […]
‘s Equity One Plc sells property
Feb 27, 2014 (LBO) – Equity One Plc, a unit of Sri Lanka’s Carson Cumberbatch group said it sold a six acre land in a suburb south of Colombo for 571.2 million rupees. The land in Mount Lavinia had been sold on February 24, the firm said in a stock exchange filing. The funds will […]
Oman Air in code share with SriLankan to China, Singapore and Maldives
Feb 27, 2014 (LBO) – Oman Air said it had signed a deal take carry its passengers on Sri Lanka’s state-run SriLankan Airlines to China, Singapore and Maldives though Colombo. The code share deal also allows SriLankan to book passengers to Zurich via Mauscat on Oman Air flights. “This new agreement will increase both choice […]
Leading Edge
Feb 27, 2014 (LBO) – WSO2, a Sri Lanka based open source software firm whose products drive applications of companies ranging from ebay.com and Cisco Systems to British Airways is targeting more business in Asia. In Sri Lanka WS02, customers include Dialog Axiata and John Keells Holdings.The firm is also expecting potential local users in […]
‘s Malinga stuns Pakistan in Asia Cup opener
FATULLAH, February 25, 2014 (AFP) – Sling-arm fast bowler Lasith Malinga grabbed five wickets in a devastating final spell to lead Sri Lanka to a 12-run win over defending champions Pakistan in the opening match of the Asia Cup in Fatullah on Tuesday. Pakistan, chasing Sri Lanka’s competitive 296-6, seemed to be cruising at 242-4 […]
SriLankan Airlines flies to Vietnam; more Australasian cities
Feb 26, 2014 (LBO) – State-run SriLankan Airlines said it will fly to Vietnam and expand destinations to Malaysia and Australia through a new code share deal with Malaysian Airlines. Mohamed Fazeel, SriLankan’s head of commercial operations said the new code share will increase traffic between Sri Lanka and Australasia, which had high tourist traffic […]
Trucking Slowdown
Feb 26, 2014 (LBO) – Sri Lanka’s large truck and tractor new registrations have continued to fall in January 2014 amid weak economic conditions, an analysis of motor vehicle registry data by an equities research house shows.Small ‘hand’ tractor sales were also down 21 percent to 596 units in January 2014, from 763 a year […]
Vehicle Trend
Feb 25, 2014 (LBO) – Sri Lanka’s vehicle registrations fell 1.5 percent to 27,827 in January 2014 from a year earlier, with used hybrid cars up and three wheelers down, a research analysis shows.Sri Lanka now taxes large hybrid vehicles at lower rates than small petrol cars. The larger cars are more fuel efficient, allowing […]
New Phone
BARCELONA, February 24, 2014 (AFP) – Samsung unveiled Monday its new flagship Galaxy S5 smartphone armed with a fingerprint scanner and a built-in heart rate sensor to defend its place as the world’s industry leader.Taking the limelight on the opening day of the world’s biggest mobile fair in Barcelona, Spain, the South Korean giant simultaneously […]