Category: Industry
Pakistan marks one year since Sri Lanka attacks
LAHORE, March 3, 2010 (AFP) – Pakistan on Wednesday marked the first anniversary of a deadly attack on the Sri Lankan cricket team, striving to revive the game in the cricket-mad nation and forge a path out of isolation. Seven Sri Lankan players and their assistant coach were injured and eight Pakistanis killed when attackers […]
Sri Lanka to buy six transport aircraft from China: report
Mar 04, 2010 (LBO) – Sri Lanka is buying six Xian MA60 turboprop powered aircraft for a state-run airline and air force, from China, a media report said. The aircraft are being sold by China National Aero-Technology Import and Export Corporation (CATIC) finance by a government loan, Flight Global an aviation news portal said quoting […]
Water Supply
Mar 04, 2010 (LBO) – Two water supply purification plants supplying Sri Lanka’s capital Colombo will be upgraded with finance from Hungary, minister Gamini Lakshman Peiris said. A proposal to rehabilitate purification plants of the Labugama and Kalatuwawe reservoirs of Sri Lanka’s state-run National Water Supply and Drainage board has been approved by the cabinet […]
Senior Interest
Feb 04, 2010 (LBO) – A scheme to pay ‘bonus interest’ of one fifth above prevailing interest rates to senior citizens from January 01 would cost the people about 1. 2 billion rupees a year, a government minister said. The cabinet of minister had approved a proposal on Wednesday to pay extra interest for deposits […]
Home Loan
Mar 04, 2010 (LBO) – Pan Asia Banking Corporation (PABC) is looking to diversify its loan book by wooing customers to take its ‘Express Nivasa’ housing loan scheme that gives quick loan approvals to future home owners. “The housing sector went through some trouble last year,” A G Weerasinghe, chairman at PABC said. “Houses that […]
Offshore Prospects
Mar 03, 2010 (LBO) – Sri Lanka’s Colombo Dockyard, a listed ship builder, said it will deliver six vessels this year and will focus more on offshore work with the search for oil off the island’s north-west coast. More than half the yard’s business comes from India. Nakauchi also said exploration for oil and gas […]
Sri Lanka Janashakthi Insurance gets selective to protect margins: official
Mar 03, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance wants to walk-away from unprofitable clients to protect fast-eroding profit margins and reduce underwriting costs, while looking to expand in the former northern war zone, a senior official said. “If you have the right management information system you can pick and chose clients and that is […]
Joint Action
Mar 03, 2010 (LBO) – Sri Lanka will host the 46th conference of governors of South East Asian Central Banks (SEACEN) and 30th meeting of the SEACEN Board of Governors in February 2011, the Central bank said. It said in a statement that at the last meeting held in February 2010 in Cambodia, governors discussed […]
Sri Lanka Ceylinco Insurance Dec net up 137-pct, full year up 42-pct
Mar 01, 2010 (LBO) – Sri Lanka’s Ceylinco Insurance said net profits for the December 2009 quarter rose 137 percent to 356 million rupees from a year earlier while full year profits rose 42 percent to 691. 8 million rupees despite weaker premiums. For the full year revenues fell 3.0 percent to 19.50 billion rupees. […]
Sri Lanka Janashakthi Insurance 2009 net up 46.3-pct
Mar 01, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance’s net profits rose 46. 3 percent to 657 million rupees in 2009, helped by stronger underwriting results while investment income was flat, the firm’s annual accounts showed. Revenues rose 7.7 percent to 5.98 billion rupees. Gross written premium rose 6.6 percent to 5.70 billion rupees and […]
Third Source
WASHINGTON, March 1, 2010 (AFP) – The Internet has become the third most popular news platform for American adults, trailing only local and national television stations, according to a survey released on Monday. Seventy-eight percent of the 2,259 adults surveyed for the Pew Research Center’s Internet & American Life Project and the Project for Excellence […]
Name Change
Mar 01, 2010 (LBO) – Sri Lanka’s listed Seylan Merchant Bank said it was changing its name to SMB Holdings and splitting each existing share in to ten new shares, the firm said in a stock exchange filing. SMB was a subsidiary of listed Seylan Bank, which is under regulatory supervision following a run. On […]