Category: Industry
Jubilee Party
May 14, 2012 (LBO) – The British High Commission in Sri Lanka on Monday launched an online competition to give people a chance to attend Britain’s Queen Elizabeth’s jubilee party in Colombo. Local fans of the British Royal family have to visit the High Commission’s Facebook page (www.facebook.com/bhccolombo) and write 60 words on its wall […]
Fee Boost
May 14, 2012 (LBO) – Sri Lanka’s NDB Bank group said net profits in the March 2012 quarter rose 19 percent to 720 million rupees, helped by strong foreign exchange income, interim accounts showed. The group reported earnings of 4. 39 rupees for the quarter. Group return on equity was 16.8 percent up from 15.64 […]
Forex Boost
May 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon, the island’s largest private lender in terms said group profits in the March 2012 quarter rose 38 percent to 2.8 billion rupees, helped by foreign exchange gains. The bank reported earnings of 3. 42 rupees per share for the quarter. The stock closed at […]
Narrow Play
May 13, 2012 (LBO) – Profits at Sri Lanka’s PABC Bank was flat at 196 million rupees in the March 2012 quarter as interest margins narrowed and personnel expenses spiked, interim accounts showed. The bank reported earnings of 67 cents per share for the quarter. The stock closed at 18.90 rupees down 40 cents Friday. […]
Battling Rates
May 12, 2012 (LBO) – Sri Lanka’s Nations Trust Bank group said net profits for the March 2012 quarter rose 8 percent from a year earlier to 405 million rupees, as margins narrowed amid rising interest rates. The group reported earnings of 1. 76 for the quarter. The stock closed at 48.80 down 10 cents […]
” tea imports altogether: Treasury secretary
May 11, 2012 (LBO) – Sri Lanka to ‘ban altogether’ through regulatory controls all imports of tea, finance secretary P B Jayasundera has said as a section of the industry is attempting free the island to become a global blending hub. Treasury secretary P B Jayasundera speaking at a dealer conference of Dilmah, a top […]
‘s Expolanka gains management control of regional travel firm
May 11, 2012 (LBO) – Sri Lanka’s Expolanka Holdings Plc said Friday it had paid 915,000 dollars to buy a 50 percent stake and management control in Akquasun Holidays India Private Limited, a joint venture with Mumbai-based Akquasun Group. Akquasun Holidays India is a business-to-business agency that works with other travel agents, tour operators and […]
Financial Talent
May 10, 2012 (LBO) – Priyantha Fernando, a retired deputy governor of Sri Lanka’s central bank has been appointed a director of Commercial Leasing and Finance Ltd, a unit of listed Lanka Orix Leasing group. The firm said Fernando has 35-years of experience and has been charge of financial system stability and was also an […]
Parts Freedom
May 11, 2012 (LBO) – Sri Lankan boat builders say taxes on imported parts are pushing up production costs while they are losing domestic market share to foreign vessels that are allowed duty free. A country with cheaper boats could become bigger player in the vast Indian Ocean. Boat manufacturers however say taxes on imported […]
Sri Lanka Cricket launches premier league to emulate Indian riches
May 10, 2012 (LBO) – Sri Lanka Cricket on Thursday announced plans to launch its own Twenty20 premier league in August, as it hopes to capitalise on the commercial success of the money-spinning Indian Premier League (IPL). Twenty20²s massive popularity and status as the most exciting and entertaining format of cricket will be further enhanced […]
Emirates group post US$629mn profit, core airline net slips
May 10, 2012 (LBO) – Dubai-based Emirates airlines group said profits in the year to March 2012 rose 17.8 percent to 629 million US dollars, thought profits at the core airline fell amid with higher fuel prices. Group revenues rose 17.8 percent to 18.4 billion dollars. The group had gained control of Travel Republic Ltd, […]
Liability Dollarization
May 10, 2012 (LBO) – Sri Lanka’s Dialog Axiata, the island’s largest mobile operator which also sells fixed access services said it lost 530 million rupees in the March 2012 quarter, hit a 2. 1 billion rupee forex loss on foreign loans. The firm said it lost 27 cents per share, down from a 14 […]