Industry – Page 683 – Lanka Business Online

Cash Call

Mar 02, 2011 (LBO) – Sri Lanka’s Seylan Bank now being restructured under regulatory supervision said will raise 4. 6 billion rupees (42.6 million US dollars) from shareholders by the sale of new voting and non-voting shares. The bank will issue 43.33 million voting shares at 75 rupees in the proportion of one new share […]

Rest Stop

Mar 02, 2011 (LBO) – The first refueling station at a rest stop mid-way on Sri Lanka’s southern highway which is nearing completion will be operated by state-run Ceylon Petroleum Corporation, petroleum ministry secretary Titus Jayawardene said. The refueling station will be built in Dodangoda, an interchange near Kaluthara, in the stretch between Colombo and […]

Box Slots

Mar 02, 2011 (LBO) – Thailand’s Regional Container Lines (RCL) has started a new Asian container shipping service that will make two weekly calls at Colombo port to cater to growing demand, a statement said. RCL is a Thai-based container shipping line listed on the Thai Stock Exchange and currently owns and operates a fleet […]

‘s Malinga plays down historic hat-trick

March 2, 2011 (AFP) – History-making Lasith Malinga played down his landmark second World Cup hat-trick, insisting that his famous four wickets in four balls against South Africa in 2007 was a greater achievement. The 27-year-old seamer’s trademark collection of yorkers and toe-crushers helped him to a career-best 6-38 as Sri Lanka beat Kenya by […]

Angry Sri Lanka deny match-fixing

March 2, 2011 (AFP) – Sri Lanka’s cricket authorities on Tuesday angrily denied allegations of match-fixing made against two of their players in their World Cup defeat to Pakistan. State television channel ITN speculated over whether Mahela Jayawardene and Thilan Samaraweera may have “changed the game” by getting out cheaply. The station added a local […]

‘s losses mount

Mar 02, 2011 (LBO) – Sri Lanka’s Kuruwita Textile Mills said slowing sales and high cotton prices have caused mounting losses that it hopes to mitigate by passing onto customers higher costs and hiring a new chief executive. Interim results filed with the stock exchange showed December 2010 quarter losses of 108 million rupees compared […]

‘s Jayawardene mulls action over corruption allegation

March 1, 2011 (AFP) – Sri Lanka’s former skipper Mahela Jayawardene is reportedly considering suing a state-run television network for hinting he may have helped fix a World Cup match against Pakistan. Many Sri Lankan players have been investigated by the International Cricket Council over match-fixing in the past. Jayawardene, who lost his middle stump […]

Downgrade

Mar 01, 2011 (LBO) – Sri Lanka’s Lanka Orix Leasing Company has been downgraded by one notch to ‘A-(lka)’ by Fitch Ratings, with a ‘negative’ outlook on higher debt funded equity investments in group firms. Fitch said it had also downgraded an LOLC’s proposed commercial paper to ‘F2(lka)’ from ‘F(lka)’ and withdrawn the rating. “The […]

Lower Outlook

Mar 01, 2011 (LBO) – Sri Lanka’s Lanka Orix Finance Company outlook has been lowered from ‘stable’ to ‘negative’ on weak capitalization following rapid growth, Fitch Ratings said. It’s national long-term rating has been confirmed at ‘A-(lka). The company’s capitalization, as measured by equity to assets, had decreased to 9.2 percent at year ended March […]

Finance Listing

Mar 01, 2011 (LBO) – Sri Lanka’s Senkadagala Finance, a registered finance company, has been given the nod to list on the second board of Colombo Stock Exchange through the ‘introduction’ process the bourse said in a statement. Sri Lanka’s finance companies have been asked to list on the stock exchange by the Central Bank, […]

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 […]

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 […]