Category: Industry
Britain on lookout after ash disrupts Northern Ireland airspace
LONDON, May 15, 2010 (AFP) – British aviation authorities were keeping a close eye Sunday on the possible return of a cloud of volcanic ash from Iceland after it forced the closure of parts of Northern Ireland’s airspace. The NATS said it was working closely with weather forecasters and the Civil Aviation Authority — Britain’s […]
Margin Gains
May 16, 2010 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said group profits grew 24 percent in the March 2010 quarter to 1,107 million rupees from a year earlier as interest margins improved and loan loss provisions fell. Amid low loan growth the group’s government securities held-to-maturity portfolio rose to 106 billion rupees from […]
Fiery World
NEW ORLEANS, May 16, 2010 (AFP) – US officials have told BP to clarify what costs it will pay for cleanup of the massive Gulf of Mexico oil spill, with crews employing new tactics Saturday to stem the leak as globs of oil wash ashore in new sites. The latest effort by British Petroleum to […]
Sri Lanka offers US55mn for Emirates stake in national carrier: report
May 15, 2010 (LBO) – Sri Lanka has offered 55 million US dollars to buy back a 43. 6 percent stake in national carrier SriLankan from Dubai-based Emirates airlines, a media report said. SriLankan itself was set up under the name of Air Lanka after another state airlines, Air Ceylon went under. Despite the bitter […]
Offshore Opportunity
May 14, 2010 (LBO) – Sri Lanka’s Hemas group and Colombo Dockyard have teamed up with Singapore’s Toll Offshore Petroleum Services to bid for Cairn India’s contract for offshore oil field support services, officials said. “Hemas Holdings, Colombo Dockyard and Toll Offshore Petroleum Services have jointly placed a bid for the offshore supply base for […]
Top Down
May 14, 2010 (LBO) – Unethical practices from the top find its way to the bottom of organizations, and picking the right talent was also important since human decisions can always override regulations, a senior business executive said. However in some cases employees sometimes bend rules when being pressurized by the top management to make […]
Other Income
May 14, 2010 (LBO) – HSBC’s Sri Lankan unit’s March quarter profits rose 103 percent to 1.41 billion rupees from higher foreign exchange and fee-based incomes despite lower net interest margins and higher operating expenses, the accounts showed. Gross assets rose 7.1 to 174 billion rupees, HSBC Sri Lanka’s March accounts showed. HSBC Sri Lanka’s […]
Bank Numbers
May 14, 2010 (LBO) – Sri Lanka’s NDB Bank’s group net profit for the March 2010 quarter fell 34 percent to 299 million rupees from a year ago with interest income down but non-interest income increasing, latest accounts showed. Total income fell 13 percent to 3.1 billion rupees in the quarter, according to a stock […]
High Spirits
May 14, 2010 (AFP) – Almost one in three Sri Lankan private bus drivers smokes marijuana or drinks alcohol before work, operators said Friday after a study into the high rate of road fatalities on the island nation. “We did a survey of buses operating in Colombo and found that about 30 percent of drivers […]
‘s Sangakkara keeps England guessing over mystery spinner
GROS ISLET, May 12, 2010 (AFP) – Sri Lanka captain Kumar Sangakkara was giving little away when asked if he would unleash mystery spinner Ajantha Mendis against England in the World Twenty20 semi-final. Mendis was missing from the Sri Lanka side that beat India by five wickets at the Beausejour Stadium here on Tuesday to […]
Sri Lanka Vidullanka buys into mini-hydro power firm
May 13, 2010 (LBO) – Sri Lankan private power producer Vidullanka plans to invest 42 million rupees for a stake in another hydropower firm that is to build a mini-hydro plant in the island’s south, a stock exchange filing said. Vidullanka will get a 26 percent stake in Nilwala Vidulibala Company for the investment. Nilwala […]
Sri Lanka gets Japan funds for power in war-torn north
May 13, 2010 (LBO) – Sri Lanka will re-build a 1. 2 MegaWatt power station in the former separatist stronghold of Kilinochchi in northern Sri Lanka with loan of 3. 0 billion rupees from Japan, a government minister said. Sri Lanka’s state-run national grid operator, Ceylon Electricity Board, supplies power to the Jaffna peninsular, north […]