Category: Industry
Financial Expansion
May 31, 2013 (LBO) – A new finance company unit of Sri Lanka’s Richard Peiris group will focus and core hire purchase and leasing but expects to gain an from group synergies, officials said.Richard Pieris Arpico Finance, a Central Bank registered firm, has been capitalized with 400 million rupees and which will be topped up […]
Phone Search
SAN FRANCISCO, May 30, 2013 (AFP) – Google revealed Thursday that it has two new sophisticated Android smartphones in the works, one of which will have the unprecedented distinction of being made in the United States. An HTC One smartphone customized to be “Google’s take on Android” will make its US debut on June 26 […]
Health Check
May 31, 2013 (LBO) – Profits at Sri Lanka’s Asiri Hospital Holdings Plc, edged up 2.9 percent to 269 million rupees in the March 2013 quarter from a year earlier, helped by non operating gains, accounts showed. In the March 2012 quarter there were 205 million rupees of fair value gains which were absent this […]
Retail Woes
May 31, 2013 (LBO) – Odel Plc, a unit of Malaysia’s Parkson Retail Asia Limited, lost 16.3 million rupees in the March 2013 quarter, retreating from a 26. 6 million rupee profit from a year earlier as it was hit by a new value added tax on retailing. The firm reported losses of 9 cents […]
Banking Gains
May 31, 2013 (LBO) – Sri Lanka’s DFCC Bank group has reported net profits of 1.2 billion rupees in the March 2013 quarter, up 63 percent from a year earlier, helped by higher interest income. The group reported earnings of 4.63 rupees per share reporting on accounts filed with the Colombo stock exchange using Sri […]
” duty
May 30, 2013 (LBO) – Bicycles made in Sri Lanka, Indonesia, Malaysia and Tunisia with Chinese components have been hit with ‘anti-dumping’ duties by the European Union, a media report said. Bloomberg newswires said EU had determined that bikes with Chinese parts were assembled in several countries including Sri Lanka to avoid a 48.5 percent […]
Sri Lanka hotel to be re-built by Banyan Tree
May 30, 2013 (LBO) – Sri Lanka’s Beruwala Walk Inn, a unit of Singapore-based Banyan Tree leisure group will re-build a hotel which was washed away in a tsunami in 2004, a top official has said.Banyan Tree gained control of Beruwala Walk in from John Keells Holdings in October 2003 and closed it for refurbishment […]
Europeans give up holiday travel as austerity bites: study
ARIS, May 30, 2013 (AFP) – Fewer Europeans are planning to go away for a summer holiday as economic austerity bites, a new study shows, with levels of foreign vacation travel at their lowest for eight years.No more than 54 percent of Europeans are planning to get away for summer holiday this year, according to […]
Settlement Freedom
May 30, 2013 (LBO) – Sri Lanka is looking to give the freedom of getting inward payments through Paypal, a cost-effective global remittance and payments system that has helped boost e-commerce in many countries, Central Bank Governor Nivard Cabraal said.“We are looking at it seriously,” Central Bank Governor Nivard Cabraal told LBO. “We have to […]
‘ IPL struggles
BIRMINGHAM, United Kingdom, May 28, 2013 (AFP) – Sri Lanka captain Angelo Mathews is confident his side can impress during the upcoming Champions Trophy tournament in the United Kingdom.“Early summer is always going to be like this — wet — and it’s going to swing and seam. “So I think that’s our main challenges as […]
Cricket: Indian chief must quit, says ministry
NEW DELHI, May 29, 2013 (AFP) – India’s sports ministry on Wednesday piled pressure on the chief of the country’s cricket board to quit on “moral grounds” over a widening betting and spot-fixing scandal that has rocked the sport.N. Srinivasan, head of the Board of Control for Cricket in India (BCCI), has been under fire […]
Sri Lanka proposed lease tax, foreigner curbs, may hurt property market: developer
May 29, 2013 (LBO) – A proposed tax on leases and restrictions on sale to foreigners may hurt the market, a property development firm has said.“The proposed amendment to the law introducing a prohibition of sale of lands in Sri Lanka to foreign nationals and on imposing a tax on lease value will have a […]