Category: Industry
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 […]
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 […]
Migrant Plight
Feb 26, 2011 (LBO) – The International Labour Organisation has urged Libya to protect the rights of migrant workers caught up in the current conflict and ensure their basic right to freedom of association. Libyan leaders must put an immediate stop to the massive killings, large-scale violence and generalized repression unleashed against peaceful demonstrations of […]
Tipping Point
Feb 26, 2011 (LBO) – The global seafarers union has warned it would advise members against sailing in the Indian Ocean to avoid Somali pirates and mocked as “ludicrous” naval action that confiscate guns and set pirates free to strike again. The Somali piracy crisis comes at a time when the global merchant marine faces […]
Sri Lanka rejects EU trade deal: European lawmaker
Feb 25, 2011 (LBO) – Sri Lanka has told the European Union it does not want to renew a trade deal that was withdrawn over EU concerns about human rights abuses in the island’s ethnic war, a visiting EU lawmaker said. Jean Lambert, member of the European Parliament, said talks with Sri Lankan government officials […]
Sri Lanka wild life park lures Shangri-La
Feb 25, 2011 (LBO) – Hong Kong based Shangri-La hotels has looked at two sites including one close to a well-known wild life reserve in southern Sri Lanka to site its second proposed hotel, an official said. Deputy minister for economic development Lakshman Yapa Abeywardene said visiting Shangri-La officials had examined a site close to […]
Pakistan grapple with Sri Lanka M-factor
February 24, 2011 (AFP) – Pakistan will look to blunt Lasith Malinga and wily off-spinner Muttiah Muralitharan in their Group A encounter against Sri Lanka on Saturday, with captain Shahid Afridi confident of a win. Co-hosts Sri Lanka, champions in 1996, and 1992 winners Pakistan are off to flying starts in the tournament with convincing […]