Category: Industry
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 […]
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 […]
SpectrumAccess
May 13, 2013 (LBO) – Sri Lanka’s Dialog Axiata said it is buying a pay TV operator for 800 million rupees to gain control of 2.3GigaHertz brand spectrum which will be used for fixed broadband services. Dialog, a unit of Malaysia’s Axiata, said its fixed access division, Dialog Broadband Networks (Pvt) Ltd has entered into […]
Licensed
May 13, 2013 (LBO) – Indra Finance Ltd, a unit of Kandy based Indra Traders, a motor trading group has been registered as a finance company, Sri Lanka’s Central Bank said.A registered finance company can take deposits from the public with a credit rating. The Central Bank’s department that supervises non-bank financial institutions said the […]
Slow Quarter
May 13, 2013 (LBO) – Sri Lanka’s Hatton National Bank group profits were flat at 1.22 billion rupees in the March 2012 quarter, as losses ticked up amid slow loan growth, interim accounts showed.A group level number was not available. Sri Lanka is recovering from a balance of payments crisis and a sharp spike in […]
Sri Lanka Singer profits halve in slow sales, high interest
May 12, 2013 (LBO) – Profits at Singer (Sri Lanka) Plc, a consumer durables retailer fell 51 percent to 174 million rupees in the March 2013 quarter from a year earlier, as interest costs rose and sales slowed. The group reported earnings of 1.40 rupees per share for the quarter. Gross revenues were flat at […]