Category: Industry
Oil Trend
May 31, 2011 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation lost 111 million rupees in the March 2011 quarter, on revenues of 16. 2 billion rupees, an analysis of audited accounts released to the Colombo stock exchange shows. Lanka IOC raised its diesel prices nine rupees above the competitor, state-run […]
Sri Lanka promises to keep calm and carry on
CARDIFF, May 31, 2011 (AFP) – Sri Lanka captain Tillakaratne Dilshan said there was no point in reading the riot act after a stunning collapse to 82 all out saw his side lose the first Test against England. A rain-affected match appeared destined for a draw after England declared their first innings on 496 for […]
Sri Lanka Aitken Spence net up 20-pct in March
May 31, 2011 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, shipping, power and plantations said profits rose 20. 7 percent to 754.4 million rupees in the March 2011 quarter, with revenues flat at 6. 9 billion rupees. In the full year to March the group’s revenues rose 4. 0 percent […]
Sri Lanka Hunas Falls hotel to increase rooms, push eco-image
May 31, 2011 (LBO) – Sri Lanka’s Hunas Hotel, located in the central hill district of Kandy will expand rooms and ride on its eco-friendly image targeting niche markets, chairman Mohan Pandithage told shareholders. The hotel’s revenues had increased 31 percent to 102 million in the year to March and profits had increased 153 percent […]
Finance Deadline
May 31, 2011 (LBO) – Sri Lanka’s central bank said 15 regulated finance companies have so far listed themselves on the Colombo Stock Exchange in response to a direction by the Central Bank and other are on the way. The Central Bank has set a deadline of June 30 for listings to be completed. The […]
Shipping Costs
May 30, 2011 (LBO) – Sri Lanka’s Mercantile Shipping lost 38 million rupees in the March 2011 quarter through revenues rose 22 percent to 197 million rupees, according to interim accounts. Last year Mercantile Shipping warned shareholders that despite taking delivery of new vessels international charter rates were depressed in the near term. For the […]
Maritime Links
May 30, 2011 (LBO) – A passenger vessel that can carry up to 1,044 people is to be used to launch a transport service between Sri Lanka’s Colombo port and the south Indian harbour of Tuticorin. The ‘Scotia Princess’ ferry will initially do two voyages a week, said Classic Travels, a subsidiary of Expolanka Holdings, […]
Hundred heroes Cook and Trott punish Lankans
CARDIFF, May 28, 2011 (AFP) – Alastair Cook and Jonathan Trott both made centuries against Sri Lanka in the first Test here on Saturday as they carried on from where they left off in Australia. Cook was 129 not out and Trott 125 not as England closed on 287 for two in reply to Sri […]
Nano Effort
May 29, 2011 (AFP) – India’s Tata Nano, billed as the world’s cheapest car, began its first export sales Sunday by entering the Sri Lankan market — but with a price tag nearly three times what it is at home. Sri Lanka reduced car duties by almost half in June last year, but then raised […]
Anderson unable to bowl again in Sri Lanka opener
CARDIFF, May 28, 2011 (AFP) – England’s James Anderson will be unable to bowl again in the remainder of the first Test against Sri Lanka, a team spokesman said Saturday. And the 28-year-old Lancashire seamer is also now doubtful for the second of this three-Test series starting at Lord’s this coming Friday. Ashes hero Anderson […]
Debenture Rating
May 27, 2011 (LBO) – Fitch Ratings said it had rated a proposed one billion rupee subordinated debenture ‘AA-(lka)’ by National Development Bank one notch below the bank’s long term ‘AA(lka)’ credit which has a stable outlook. Core profitability as measured by return on assets (adjusted for gains on equities and government securities) had increased […]
Cold Comfort
May 26, 2011 (LBO) – Sri Lanka’s Ceylon Cold Stores said net profit for the financial year ending March 2011 fell 13 percent to 200 million rupees from a year ago with its ‘Keells Super’ supermarket chain still in the red. Annual group sales rose 16 percent to 16. 6 billion rupees, the company said […]