Category: Industry
’s boatpeople face return to island or transfer to PNG: Australia
July 30, 2013 (LBO) – Sri Lanka’s boatpeople face return to island or transfer to Papua New Guinea, an island off the Australian coast as 68 Lankans are shortly to be put through an enhanced screening processes, the country said. Almost 1300 Sri Lankans have been sent home since August 2012, 1100 of them involuntarily. […]
Rate Effect
July 30, 2013 (LBO) – Profits at Sri Lanka’s Seylan Bank fell 13 percent to 484 million rupees in the March 2013 quarter amid rising interest costs, interim accounts showed. The gross non-performing loan ratio (net of interest in suspense) fell to 11.15 percent from 12.99 percent at bank level during the period. The interest […]
Credit Board
July 29, 2013 (LBO) – Sri Lanka’s industry and commerce ministry said it had appointed a four person body to approve credit agencies under powers of Sri Lanka’s mortgage and trust receipt laws. Commercial minister Rishad Bathiudeen had appointed, Sujeewa Rajapaksa (President of ICASL), Anura Meddagoda (Attorney at Law) and VM Weerasinghe (Chief Accountant, Ministry […]
Credit Trend
July 29, 2013 (LBO) – Sri Lanka’s loans to private business picked up in May as credit to both state enterprises and the central government from banks dropped in May, official data showed.Total credit to the state dropped 6.2 billion rupees to 1555.6 billion rupees in May from a month earlier, which included an increase […]
Cricket: Dilshan, Sangakkara lift Sri Lanka to series win
PALLEKELE, July 28, 2013 (AFP) – Tillakaratne Dilshan and Kumar Sangakkara pulverised South Africa’s bowling as Sri Lanka took a decisive 3-1 lead in the one-day series with an eight-wicket victory in Pallekele on Sunday.Amla, batting for the first time in the series after being injured while fielding in the only other game he played, […]
Tele Investments
July 29, 2013 (LBO) – Investments in Sri Lanka’s by Dialog Axiata group, a unit of Malaysia’s Axiata is reaching 1.5 billion US dollars with a 150 million US dollar network and fibre optic capacity, officials said. The latest investment agreement inked with the Board of Investment of Sri Lanka for 150 million dollars will […]
Myanmar monasteries offer bootcamp for the spirit
YANGON, July 29, 2013 (AFP) – Pre-dawn wake-up calls, days of silence and hunger may not be everyone’s idea of a holiday, but for tourists seeking spiritual sustenance Myanmar’s monasteries offer help on the path to Buddhist nirvana.The search for inner peace is unlikely to appeal to those who take a more hedonistic approach to […]
Personal Travel
July 28, 2013 (LBO) – Scooters are becoming more popular in Sri Lanka making up about a third of all two-wheelers sold in the country now, the agents for India’s Mahindra group said at the launch of new models.Sri Lankan citizens who could not afford a car were buying up to 24,000 two-wheelers a month […]
South Africa win to stay alive in Sri Lanka cricket series
PALLEKELE, July 26, 2013 (AFP) – David Miller and Lonwabo Tsotsobe played key roles as South Africa stunned hosts Sri Lanka by 56 runs in the third one-dayer in Pallekele on Friday to stay afloat in the five-match series.Miller plundered a robust 85 not out off 72 balls to steer South Africa to 223-7 after […]
Mobile Hit
WASHINGTON, July 27, 2013 (AFP) – With the shift to mobile Internet gaining pace, some of the big tech firms are adapting and others are not.“Its products are no longer cutting edge,” he said.“It has failed to introduce sufficiently innovative product updates and services frequently enough (or) expand its limited product range.” He added that […]
Refinance
July 27, 2013 (LBO) – Sri Lanka’s Nations Trust Bank has signed up a 15 million dollar credit to lend to small and medium enterprises, especially those in former war zones and tsunami hit areas, the Asian Development Bank said. About 20 percent of the facility will target women borrowers. The loans will be given […]
Base Case
July 26, 2013 (LBO) – Chevron Lubricants Lanka Plc said profits in the June 2013 quarter rose 5.5 percent to 562 million rupees from a year earlier, despite falling revenues on lower raw material prices. The firm reported earnings of 4.69 per share in interim accounts filed with the Colombo Stock Exchange. In the six […]