Category: Industry
Cargo Space
Mar 01, 2011 (LBO) – Colombo port has begun building a facility for export containers north of the habour that will help reduce congestion and provide more space for its main transhipment business, an official said. Sri Lanka Ports Authority chairman Priyath Wickrama said it has acquired land for the ‘cargo village’ at Peliyagoda, a […]
Bank Numbers
Feb 28, 2011 (LBO) – Sri Lanka’s Hatton National Bank said group net profit for the December 2010 quarter was up two percent to 1. 87 billion rupees from a year ago with sharp gains in fee income. A stock exchange filing said HNB’s group net profit for the full financial year ending December 31, […]
Bank Status
Feb 28, 2011 (LBO) – Sri Laka’s Seylan Bank, under regulatory re-structuring reported a 387. 2 million rupee profit for the December quarter from a loss of 30. 4 million a year earlier, helped by foreign exchange profits and cost controls. Full year profits rose 176 percent to 1,207 million rupees. The group reported earnings […]
Bank Rating
Feb 28, 2011 (LBO) – RAM Ratings Lanka has assigned a long-term BBB rating to Union Bank with a stable outlook and a short-term rating of P3, a statement said. “The ratings are premised on the bank’s healthy capitalisation as well as adequate funding and liquidity positions,” the rating agency said. “On the other hand, […]
Double Profits
LONDON, February 28, 2011 (AFP) – Banking giant HSBC said on Monday that its net profit more than doubled to $13.16 billion (9.56 billion euros) last year as bad debts plunged to the lowest level since 2006. HSBC said in a results statement that pre-tax profits soared by nearly 170 percent to billion in 2010, […]
Industrial Port
Feb 28, 2011 (LBO) – Investors who bid to set up industries in a new port in southern Sri Lanka are to start building their factories in March, Sri Lanka Ports Authority chairman Priyath Wickrama said. He said 23 proposals of 27 received for the deep-water Hambantota port on the south coast had qualified. “Three […]
Shipyard Show
Feb 28, 2011 (LBO) – Colombo Dockyard’s December 2010 quarter net profit more than doubled to 739 million rupees from a year ago despite flat sales while annual profits fell as repair work suffered from competition, a statement said. The Sri Lankan listed ship builder’s December 2010 quarter net was up 123 percent compared with […]
Sri Lanka central banker meet mulls stimulus exit strategies
Feb 28, 2011 (LBO) – South and South East Asian central bank chiefs who met in Sri Lanka had discussed ways to exit deficit spending and loose monetary policy adopted during a global downturn, amid rising inflation and property bubbles. Several Asian countries followed their advanced nations counterparts in boosting state spending and money printing […]
Sri Lanka float plane in World Cup cricket flights
Feb 28, 2011 (LBO) – SriLankan Airlines’ says it has started a float plane service to Kandy to cover World Cup cricket matches at the Pallekelle grounds in Kandy in central Sri Lanka. The airline said its flights to two matches in Hambantota in the south had been sold out. The service will run from […]
Pakistan win over Sri Lanka send out warning with Cup win
February 26, 2011 (AFP) – Pakistan beat a powerful Sri Lankan side on Saturday for their second World Cup win, sending out an ominous statement of intent to their rivals as Bangalore geared up for the India-England showdown. A sell-out crowd of 35,000 packed the R. Premadasa stadium in Colombo to witness the much-anticipated Group […]
Sri Lanka captain rues loss of crucial wickets
February 27, 2011 (AFP) – Sri Lankan skipper Kumar Sangakkara said the loss of Mahela Jayawardene and opener Tillakaratne Dilshan at a crucial stage of the match against Pakistan was a key factor in his team’s defeat. Pakistan held their nerve to record a narrow 11-run win over the fancied home team in Colombo, leaving […]
”’ says Sri Lanka captain ahead of Kenya clash
February 27, 2011 (AFP) – Sri Lankan captain Kumar Sangakkara has urged his team not to panic after slipping to defeat against Pakistan, as he looks to get their World Cup campaign back on track with victory over Kenya on Tuesday. “We have Kenya next, followed by Australia, so we will look back on the […]