Category: Industry
Flat Quarter
Nov 01, 2012 (LBO) – Profits at Sri Lanka’s People’s Leasing and Finance group, the country’s largest non-bank lender was 795 million in the September 2012 quarter rupees barely changed from 790 million rupees a year earlier. Leasing and higher purchase rentals outstanding were also flat at 79 billion rupees by end September from 78.9 […]
Mixed Gains
Oct 31, 2012 (LBO) – Net profits of Sri Lanka’s Union Bank of Colombo rose 7.46 percent to 79.7 million rupees in the September 2012 quarter from a year earlier, with interest margins narrowing, interim accounts showed. The bank made 20 cents of earnings per share in the quarter based on 349 million shares in […]
Distress Call
Oct 31, 2012 (LBO) – Rescuers are still looking for four missing crewmen from a Vietnamese cargo vessel that sank in heavy seas 150 nautical miles off Sri Lanka’s eastern coast, an official said. Sri Lanka’s navy had tried to send a ship to the distressed vessel yesterday but could not reach the area due […]
Rating Action
Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]
Lube Sentiment
Oct 30, 2012 (LBO) – Sri Lanka’s Chevron Lubriants unit said profits fell 13 percent to 521 million rupees in the September 2012 quarter from a year earlier poor market sentiment and a price hike due to currency depreciation hurting consumption. Revenues grew by a marginal 2.9 percent to 3.0 billion rupees from a year […]
Tiger Airways ups Sri Lanka flights to four
Oct 30, 2012 (LBO) – Singapore-based Tiger Airways, a low cost has increased flights to Colombo to four starting from the last week of October, after launching with three weekly frequencies in June 2012. From October 28, the airline also increased frequencies to Hong Kong (up to 26), Taipei (up to 09), Bangkok (39), Guangzhou, […]
Sri Lanka Asia Pacific forum to explore trade boosting tools
Oct 29, 2012 (LBO) – A trade forum in Sri Lanka with the participation of 30 countries in Asia and the Pacific starting will identify priority areas for integration, and new tools and services to increase the efficiency of cross-border transactions, its organizers said. The Asia Pacific Trade Facilitation Forum 2012 (APTFF) on the theme […]
Consolidation
Oct 26, 2012 (LBO) – Sri Lanka’s Seylan Bank has reported profits of 589 million rupees for the September 2012 quarter up 48.5 percent from a year earlier, helped by lower investment provisions, interim accounts showed. The bank reported earnings of 1.74 rupees per share for the quarter. In the nine months to September the […]
No Longer
Oct 26, 2012 (LBO- Sri Lanka’s LOLC group’s ratings have been withdrawn by Fitch Ratings though the underlying ratings with negative outlooks have been confirmed. The parent LOLC’s BBB+(lka) rating, two steps up in the investment grade which also applies to 1.25 billion rupees of senior debt securities has been confirmed. LOLC’s ratings were confirmed […]
Sri Lanka exports fall 13.1-pct in Aug
Oct 25, 2012 (LBO) – Sri Lanka’s exports fell 13. 1 percent to 828.9 million US dollars in August 2012 from a year earlier led by tea, while imports fell 4.7 percent to 1,750 million US dollars, official data showed. Tea exports fell 32.7 percent to 95.7 million US dollars and apparel exports fell 3. […]
Sri Lanka East West Properties to build more hotels
Oct 25, 2012 (LBO) – Sri Lanka’s East West Properties Plc, plans to build more hotels chairman Nahil Wijesuriya has told shareholders, with the first hotel to be managed by US based Marriot group as already announced. East West is building a 200 room hotel in Weligama Bay between Gall and Matar on Sri Lanka’s […]
Jetwing sweeps top Sri Lanka spots at World Travel Awards
Oct 25, 2012 (LBO) – Sri Lanka’s Jetwing leisure group has swept has snagged top spots for the island at World Travel Awards, a 20 year old event whose organizers say is based on votes of travel professionals and consumers. Jetwing Vil Uyana, built around a man-made wetland has been named Sri Lanka leading boutique […]