Category: Industry
”’ Sydney casino gets state backing
SYDNEY, November 12, 2013 (AFP) – Gambling mogul James Packer’s plan to build a .5 billion casino in Sydney aimed at Asian high-rollers has won crucial support from the state government.The New South Wales government late Monday struck a “binding agreement” for the project to operate from November 2019 in a prime location on Sydney […]
New Zealand-Sri Lanka one-dayer called off due to rain
HAMBANTOTA, November 10, 2013 (AFP) – Bad weather forced the first one-day international between New Zealand and Sri Lanka to be abandoned in Hambantota on Sunday, cutting short an impressive display by the hosts.The second of the three one-dayers is scheduled to be played at the same venue on Tuesday. New Zealand were 13-1 from […]
Gas Gains
Nov 10, 2013 (LBO) – Profits at Sri Lanka’s Laugfs Gas rose 50 percent to 619 million rupees in the September 2013 quarter from a year earlier, amid easing commodity prices, interim accounts showed. Property and leisure units were in losses. The group reported earnings of 1.60 rupees per share. For the 6-months to September […]
Tele Status
Nov 08, 2013 (LBO) – Sri Lanka’s Dialog Axiata reported profits of 1.5 billion rupees for the September 2013 quarter, sharply down from a year earlier, when the bottom line was boosted by a one-off item. The group reported pre-tax profits of 1.8 billion rupees, down from 2.4 billion rupees a year earlier, but were […]
Credit Status
Nov 08, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank group fell to 859 million rupees in the September 2013 quarter, down 33 percent from a year earlier, on loan loss charges, interim accounts showed.The group reported earnings of 5.12 rupees per share for the quarter.For the nine months to September the firm reported […]
Sri Lanka exporters look for growth
Nov 07, 2013 (LBO) – Sri Lankan exporters will have to be closer to global supply chains and develop more innovative products, but local rules were also hindering exports, economists and industry officials said. “We are welcome organized policies from groups or forums rather than from individuals. Because for us in the government, it is […]
‘s Textured Jersey exports technical services to India
Nov 07, 2013 (LBO) – Sri Lanka based Textured Jersey Lanka Plc said it would provide technical services to Ocean India Private Ltd, a knit fabric maker in India.The firm provides fabrics to produce apparel for top European and US labels. The company entered a two year technical services agreement for a fee of 780,000 […]
IT Deal
Nov 07, 2013 (LBO) – Sri Lanka based MillenniumIT, a unit of London Stock Exchange has won a deal to provide post trade processing and depository services to the Singapore Exchange.“We are delighted to have been selected by SGX to power its global post trade operations for multi-currency, multi-asset class solutions for SGX members,” Mack […]
Knowledge Sourcing
Nov 07, 2013 (LBO) – Accenture, a multinational management consulting and outsourcing company is teaming up Sri Lanka’s Brandix to provide services focussing on the global apparel retail sector. “This collaboration will have a significant impact in building capability in services for the apparel industry that can be leveraged by Brandix and our clients globally.” […]
‘s Hayleys MGT Knitting Mills turns around
Nov 06, 2013 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, a knit fabric maker said it had turned around with a profit of 164,000 dollars in the September 2013 following a management shake-up and new business. The firm reported profits 0.1 cents (US dollars) per share for the quarter. In the six months […]
‘s MAS Active gets IFC trade finance
Nov 06, 2013 (LBO) – International Finance Corporation, a World Bank arm said it had given a supplier finance credit line to MAS Active, a top Sri Lanka based apparel exporter. MAS will get credit against receivable due from selected international buyers, IFC said. “In the fast-changing globally competitive apparel industry, suppliers like MAS need […]
‘s The Kingsbury out of red
Nov 05, 2013 (LBO) – Sri Lanka’s The Kingsbury Plc, a city 5-star hotel said it made profits of 26 million rupees in the September 2013 quarter, re-starting operations after going through a make-over. In the first week of September The Kingsbury raised 660 million rupees from shareholders in September. The firm reported earnings of […]