Category: Industry
Economic Pulse
Aug 21, 2013 (LBO) – Sri Lanka’s Cargills (Ceylon) Plc, which has interests in retailing, foods and restaurants said profits fell 49 percent to 121 million rupees in the June 2013 quarter amid narrower margins, but said the business environment was improving. Cargills also runs Sri Lanka’s KFC restaurant franchise. The company said prices have […]
Credit Transition
Aug 21, 2013 (LBO) – Sri Lanka’s private sector credit utilization is higher than bank loan data suggest due to structural changes that are taking place this year, a senior central bank official said.During the first six months of the year credit to private business and individuals from commercial banks rose 74.6 billion rupees, down […]
Credit Trend
Aug 19, 2013 (LBO) – Credit to the state spiked in June 2013 to 36.7 billion rupees, up from only 5.7 billion in May, crowding out loans to private citizens to 11.5 billion rupees from 18.3 billion a month earlier, official data showed. Central Bank credit to government fell to 233.2 billion rupees in June […]
Ship Building
Aug 19, 2013 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Onomichi of Japan said profits fell 73 percent to 114 million rupees in the June 2013 quarter from a year earlier amid a drop in revenues. The firm reported profit of 572 million rupees from shipbuilding in the six months with 482 […]
Wearable Computing
PARIS, August 17, 2013 (AFP) – South Korea’s Samsung Electronics will unveil its new Galaxy Gear “smartwatch” early next month, ahead of Apple’s iWatch, Bloomberg news and a fan site said Saturday.The Galaxy Gear, which will allow users to make calls, access email and even surf the Internet, will launch on September 4, said the […]
” challenge in Sri Lanka
August 15, 2013 (AFP) – England cricket legend Sir Ian Botham said Thursday he has accepted his “daftest” challenge — walking hundreds of miles under Sri Lanka’s scorching sun to raise money for charity.“It is good to make appeals on television, but when they see you actually doing something, then they are likely to give […]
Cricket: Pakistan plans day-night Test with Sri Lanka
KARACHI, August 15, 2013 (AFP) – Pakistan cricket authorities said Thursday they have proposed playing day-night Tests in the upcoming series against Sri Lanka in the United Arab Emirates in a bid to attract bigger crowds.“The time and weather would be ideal as there will be no dew at that time and it will be […]
Sri Lanka rejects night cricket Tests with pink ball
COLOMBO, August 16, 2013 (AFP) – Sri Lanka on Friday turned down a request from Pakistan to play day-night Tests in the upcoming series in the United Arab Emirates (UAE) where both countries have loyal fans. Sri Lanka Cricket (SLC) said it decided against playing day-night Tests “since the national team players have not practised […]
Australian tycoon Packer eyes Japan casino
SYDNEY, August 16, 2013 (AFP) – Australian tycoon James Packer said Friday he wants to expand his gaming empire into the lucrative Japanese market in the form of resort-casinos to tap the country’s love of gambling. The mogul, who already operates casinos in Melbourne, Perth and Macau and is planning complexes in Manila, Sydney and […]
Capital Boost
Aug 15, 2013 (LBO) – The capital of Sri Lanka’s state-run People’s Bank will be increased to keep pace with higher business volumes information minister Keheliya Rambukwelle said.As a first step the cabinet of ministers had approved changes to its governing law to increase its authorized capital to 50 billion rupees. A change will also […]
Appointment
Aug 15, 2013 (LBO) – Sri Lanka’s EAP Holdings said award Prasanna Vithanage, an award winning film and theatre director has been appointed as an independent director to board of its media and entertainment division.EAP Media and Entertainment division runs terrestrial television stations Swarnavahini and ETV; Shree FM, E FM and Run FM radio channels […]
Weak Quarter
Aug 15, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank fell 48 percent to 651 million rupees amid higher charges for losses on gold-backed loans, interim accounts showed. Core capital adequacy fell to 10.51 percent of risk weighted assets by Jun from 11.87 percent in December and total capital adequacy fell to 12.64 percent […]