Category: Industry
Windies hope Sri Lanka tour will restore pride
November 9, 2010 (AFP) – West Indies skipper Darren Sammy said Tuesday he hopes his team will perform well during their Sri Lankan tour, restoring pride and passion to the once mighty Caribbean side. West Indies will play three Tests, five one-dayers and a Twenty20 international on the Sri Lanka trip, which begins with a […]
Sri Lanka Hemas to build hydro power plant in Africa
Nov 10, 2010 (LBO) – Sri Lanka’s Hemas Holdings plans to build a hydro power plant in an African country, making use of existing company expertise, as part of an overseas diversification, its chief executive Husein Esufally said. The group’s Hemas Power subsidiary has two mini hydro plants operating right now with a third under […]
Sri Lanka Union Assurance profits down 4.0-pct
Nov 10, 2010 (LBO) – Sri Lanka’s Union Assurance said net profits for the September 2010 quarter fell 4. 0 percent to 39.5 million rupees, while total revenues rose 29 percent to 2. 2 billion rupees. Gross written premium rose 17 percent to 1. 67 billion rupees, reinsurance premiums rose at a slightly faster 19 […]
Investment Banking
Nov 10, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon has beefed up its investment banking unit and is looking to win new business as the government is planning to sell down commercial enterprises in the stock market, a top official said. “The investing banking division will engage in equity participation, mergers and acquisitions, […]
Terminal Tales
Nov 10, 2010 (LBO) – South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, said volumes rose 17 percent in October to 173,528 containers from a year ago. SAGT is 42.2 percent owned by JKH and has been contributing a big chunk of the conglomerate’s profits in recent years, along […]
Sri Lanka seeks advisor for Commonwealth Games bid
Nov 09, 2010 (LBO) – Sri Lanka seeks to hire a consultancy firm to advise the government on its bid to stage the Commonwealth Games in 2018 in the southern city of Hambantota, the central bank said. Central bank governor Nivard Cabraal has been appointed to head an organizing committee which will handle the island’s […]
” by RAM
Nov 08, 2010 (LBO) – Sri Lanka’s state-run National Insurance Trust Fund has been given a ‘claims paying ability’ rating of ‘AAA’ with a ‘stable’ outlook by RAM Ratings on the strength of state ownership and government related business. NITF had an expense ratio of 11.09 percent in 2009 which was the lowest in the […]
Broad Spread
Nov 09, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator said it had added 80,000 new broadband customers in 2010 and its base of 200,000 customers was 70 percent of the market. About 20 percent of the operator’s wireline customers were now using its ADSL (asymmetric digital subscriber line) services, the […]
Telecom Tower
Nov 10, 2010 (LBO) – Sri Lanka will start building a 350-metre telecom tower in the capital Colombo in December and intends to sell shares to the public in a firm to be set up to operate it, an official said. Television broadcasters, radio stations and telephone operators will be able to use the tower […]
Lower Revenues
Nov 09, 2010 (LBO) – Sri Lanka’s DFCC Bank’s net profits were down 36 percent to 823 million rupees in the September 2010 quarter from a year earlier amid lower interest rates and profits of Commercial Bank, an associate, no longer being consolidated. Group gross loans and advances were flat at 54. 5 billion rupees […]
Australia end dismal run with win over Sri Lanka
BRISBANE, November 7, 2010 (AFP) – Australia avoided an unwanted record as they cruised to a comprehensive eight-wicket win over Sri Lanka in the third and final one-day international at Brisbane’s Gabba ground on Sunday. Staring at a record eighth straight international defeat, the Australians skittled Sri Lanka for 115 off 32 overs and rattled […]
Sri Lanka Hemas Power net up on higher hydro, thermal generation
Nov 08, 2010 (LBO) – Higher electricity generation from both thermal and hydro power plants helped Sri Lanka’s Hemas Power make a net profit of 124 million rupees in the September 2010 quarter, a stock exchange filing said. The company had made a loss of 3. 5 million rupees in the same period a year […]