Category: Industry
Toot
May 15, 2013 (LBO) – Trains have begun operating on the segment of a 252 kilometre railway track system in Sri Lanka’s north rebuilt with Indian aid which was destroyed 23 years ago during the island’s separatist conflict.The rebuilt track from Madawachchiya to Madhu Road on a track leading to Talaimnnar in the northeast was […]
‘s Krrish to pay up
May 15, 2013 (LBO) – Sri Lanka has given India’s Krrish group till May 31 to complete their payments charging 12 percent interest for an extension, investment promotion minister Lakshman Abeywardena said.Out of 4,995 million rupees due for land leased for a mixed development project, the company had so far paid 4,049 million rupees or […]
‘s Ceylinco Insurance net up 55-pct
May 15, 2013 (LBO) – Sri Lanka’s Ceylinco Insurance, the island’s largest insurer by written premium said net profits rose 55 percent to 326 million rupees in the March 2013 quarter, from a year earlier.The firm reported earnings of 12.37 rupees per share. Group gross written premium rose 10 percent to 6.0 billion rupees in […]
NormalProfits
May 15, 2013 (LBO) – Profits at Sri Lanka Telecom group the island’s sole wireline operator which also has mobile services rose 226 percent to 1.6 billion rupees recovering from forex losses suffered last year.The group reported earnings of 89 cents per share. Revenues rose 5 percent to 14.4 billion rupees in the quarter and […]
E-Forum
May 15, 2013 (LBO) – International and local experts will discuss the future of e-ecommerce which is now growing very fast in the Asia-Pacific region with growing internet penetration and legal reforms that help internet transactions, at a forum in Colombo. Sri Lanka Association of Software and Service Companies said a ‘CXO Briefing’ on May […]
‘s Crown applies to invest in Sri Lanka: minister
May 15, 2013 (LBO) – Melbourne based Crown group has submitted an investment application to Sri Lanka which is pending approval, investment promotion minister Lakshman Abeywardena said.. Crown, an entertainment and gaming group has been planning a 350 million US dollar mixed development in Sri Lanka’s capital Colombo, according to reports. Sri Lanka has also […]
CapitalGains
May 15, 2013 (LBO) – Profits at Sri Lanka’s NDB group fell 53 percent to 499 million rupees in the March 2013 quarter, from a year earlier, on higher operating expenses and provisioning as interest costs rose, interim accounts showed.The group reported earnings 3.09 rupees per share. Interest income rose 34 percent to 4.9 billion […]
Sri Lanka hydro reservoirs get highest inflows in single day
May 14, 2013 (LBO) – An Indian Ocean cyclone named after an ancient Sri Lankan king who is famed for building irrigation tanks had brought the highest water inflows in a single day to the island’s hydro power storage system. More water from yesterday’s rain held in catchment areas are expected to flow into the […]
‘s Union Assurance net up 31-pct
May 14, 2013 (LBO) – Profits at Union Assurance Plc, a unit of Sri Lanka’s John Keells Holdings rose 31 percent to 111.3 million rupees in the March 2013 quarter from a year earlier, helped by investment income and fair value gains. The firm reported earnings of 1.30 rupees per share. The stock closed at […]
Brand Summit
May 14, 2013 (LBO) – Some of Sri Lanka™s renowned marketing thinkers, regional advertising experts and key Google officials will share their insights on how firms could build resilient brands during a one day conference in Colombo this month.In a fast paced, upheaval-prone modern world, today™s strong brand equity does not guarantee tomorrow™s success. Brands […]
Forex Hit
May 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits fell 19.7 percent to 2.25 billion rupees in the March 2013 quarter from a year earlier, on narrowing interest spreads and lower forex gains.Analysts are therefore forced to call banks up for basic information readily available under earlier rules, unless they voluntarily […]
Bunker Edge
May 13, 2013 (LBO) – Bunker fuels sold from Sri Lanka’s ports was of higher quality with less particles that damage engines on average than even Singapore but prices have to fall to be more competitive, industry officials said. As states set standards for lower sulfhour content, cat fines, or hard aluminum and silicone dioxide […]