Category: Industry
Traffic Plan
May 15, 2012 (LBO) – Sri Lanka’s Transport Ministry on Wednesday secured a Japanese grant to draw-up a master transport plan for the Colombo metropolitan region. It will review present conditions, on-going developments and future plans, to identify short and mid-term measures to improve the existing transport system, and in the long term to establish […]
Sri Lanka Cricket eyes local firms to bankroll premier league
May 15, 2012 (LBO) – Sri Lanka Cricket is targeting several top local companies to invest in a franchise, when bidding for its new premier league Twenty20 tournament opens for auction in a few weeks, officials said. The success of the Indian Premier League (IPL) has led to similar Twenty20 leagues being played in Bangladesh […]
Sri Lanka knitting mill losses up on write-downs, lower revenues
May 15, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, lost 3. 0 million US dollars in the March 2012 quarter, up 45 percent from a year earlier amid revenue losses and asset write-downs, interim accounts showed. The troubled firm reported losses of 6 cents per share. The stock closed at 8.00 rupees […]
Hidden Gem
May 15, 2012 (LBO) –Sri Lanka’s fledgling outsourcing business, has scored well in a recent A T Kearney study, which gave high marks for the island’s skilled talent pool and a strong business environment at competitive costs. Infrastructure Sri Lanka’s infrastructure is generally far superior to that found in other low-cost countries. Being a relatively […]
Tele Margins
May 15, 2012 (LBO) – Profits at Sri Lanka Telecom, the island’s largest telco, fell 72 percent to 365 million rupees in the March 2012 quarter hit by exchange losses, though operating profits improved interim accounts showed. The group reported earnings of 20 cents per share for the quarter. The stock traded 38.90 up 80 […]
Bank Growth
May 15, 2012 (LBO) – Profits at Sri Lanka’s Hatton National Bank group increased 26 percent to 1.53 billion rupees in the March 2012 quarter, from a year earlier, helped by strong non-interest income, interim accounts showed. The group reported earnings of 3.87 rupees per share for the quarter. The stock closed at 153 rupees […]
Growth Path
May 15, 2012 (LBO) – Sri Lanka’s Sampath Bank’s net profits for the March 2012 quarter rose 52 percent to 1.49 billion rupees from a year earlier boosted by strong foreign exchange income, interim accounts showed. The bank reported earnings of 9. 26 rupees per share for the quarter. The stock closed up 30 cents […]
Safe Zone
May 15, 2012 (LBO) – Sri Lanka’s pioneering Islamic insurer, Amana Takaful PLC plans to invest more into fixed income securities, after its bottomline was hit by falling equity prices and lower returns from gold, officials said. “The main contributor to the losses of the general insurance business is the motor business. Steps have been […]
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 […]
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 […]
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. […]