Category: Industry
Growth Number
Oct 31, 2011 (LBO) – Sri Lanka’s Sampath Bank group profits for the September 2011 quarter rose 45.6 percent to 1.14 billion rupees helped by higher non-interest income and a tax cut interim accounts showed. The group reported earnings of 7.33 rupees for the quarter. For the nine months to September earnings were 20. 81 […]
Finance Growth
Oct 31, 2011 (LBO) – Citizens Development Business Finance, a registered finance company in Sri Lanka said net profits for the September 2011 quarter rose 146 percent to 161.2 million rupees from a year earlier, helped by interest margins and other income. The firm reported earnings of 3.58 rupees for the quarter. For the six […]
Finance License
Oct 31, 2011 (LBO) – Commercial Leasing Company, a unit of Sri Lanka’s LOLC group, said it had received a finance company license from the banking regulator and will seek a public listing. The firm will also increase its small and medium industry and micro finance portfolio. “The company is well positioned to take advantage […]
Wheels Wealth
Oct 31, 2011 (LBO) – A post-war economic boom and lower import taxes helped sharply increase September 2011 quarter profits at two Sri Lankan vehicle importers which are agents for top German, Japanese and Indian brands. Diesel & Motor Engineering Company (DIMO), agents for Mercedes Benz and Tata, said September quarter net profit rose 175 […]
Price Balance
Oct 30, 2011 (LBO) – Sri Lanka has raised pump prices by around 10 percent with petrol prices going up by 12.00 rupees a litre and diesel by only 8. 00 rupees, widening an already existing gap. The standard 90-Octane petrol will now cost 137 rupees at the pump and the premium 95-Octane 155 rupees. […]
Visa Scam
WASHINGTON, October 30, 2011 (AFP) – A case working its way through a federal court in California has exposed huge student visa scams by “sham” universities cashing in on Indians and other foreigners looking for a quick path to jobs in the United States. Enrollment at Tri-Valley University, an unaccredited self-styled Christian graduate school, surged […]
Sri Lanka airport crunch looming: official
Oct 29, 2011 (LBO) – Sri Lanka’s sole international airport will face a capacity crunch soon with passenger traffic exceeding its design capacity by year’s end amid a post-war tourism boom, an airline official said. Another plan under consideration is to expand the terminal into the garden area. The Bandaranaike International Airport (BIA) handled 5.26 […]
Dutch plane flying to Sri Lanka in bird strike
PANAJI, October 27, 2011 (AFP) – A Dutch charter plane en route to Sri Lanka was forced to abort take-off after a bird flew into one of its engines in the Indian state of Goa, the airline said on Thursday. “The plane hit the bird while it was gathering speed on the runway,” ArkeFly spokeswoman […]
Android Forum
Oct 28, 2011 (LBO) – Sri Lanka’s Etisalat cellular network said it will host a forum on Android, an operating system for mobile devices, with experts from Google, smartphone makers will be taking part. “The goal of the Android Forum is to give the public a chance to see the limitless possibilities that will be […]
Mobile Trend
Oct 28, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata’s September 2011 quarter group net profit fell 17. 7 percent to 1.4 billion rupees from a year ago with sharply higher tax costs as well as finance expenses. Sales rose 10.3 percent to 11.7 billion rupees. Diluted earnings per share rose to 26 […]
Central Express
Oct 28, 2011 (LBO) – Eight firms, including from Malaysia and Korea have expressed interest in building a highway to Sri Lanka’s central hill city of Kandy, deputy highways minister Nirmala Kothelawala said. According to the preliminary data on Sri Lanka’s Road Development Authority website, the Kandy Colombo Expressway will be a 98 kilometre road […]
Bank Net
Oct 27, 2011 (LBO) – Net profits of Sri Lanka’s PABC Bank for the September 2011 quarter rose 62 percent to 208. 7 million rupees from a year earlier, helped by stronger net interest income and a lower tax rate, interim accounts showed. The bank reported earnings of 71 cents for the quarter and 2.08 […]