Category: Industry
Ship Building
March 01, 2010 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the 2009 financial year rose by almost half although they fell in the December quarter as ship repair revenue came down. The yard, which is majority owned by Japan’s Onomichi Dockyard, said in a stock exchange filing that net profit […]
War Council
SAN FRANCISCO, February 28, 2010 (AFP) – US national security leaders and top cyber warriors from around the world are gathering here to plot defenses against criminals and spies that increasingly plague the Internet. Homeland Security Secretary Janet Napolitano and White House Cyber Security Coordinator Howard Schmidt will take part in this week’s RSA conference […]
Bank Numbers
Feb 28, 2010 (LBO) – Sampath Bank said its 2009 net group profits rose 36.8 percent to 2.0 billion rupees, while December quarter net was up 72.4 percent to 689 million rupees with higher interest rate spreads and fee income. The banking group said in a stock exchange filing December quarter interest income fell 6.2 […]
Sri Lanka part of larger Oman Air Asian strategy: official
Feb 27, 2010 (LBO) – Oman Air’s new service to Sri Lanka and the Maldives is the first of a series of new routes to South Asia and part of the Middle Eastern carrier’s strategy to become a bigger player in the Asian air travel market, a top official said. Oman Air four operates weekly […]
Sri Lanka Union Assurance 2009 net up 17-pct
Feb 26, 2010 (LBO) – Sri Lanka’s Union Assurance said net profit for the 2009 financial year went up 17 percent to 401 million rupees from a year ago as investment income rose sharply. Total annual revenue rose 19 percent to 6. 68 billion rupees, the company, in which John Keells Holdings has an 81 […]
Price Pressure
Feb 26, 2010 (LBO) – Sri Lanka Telecom group said it suffered a loss in the December quarter but ended the year with a net profit of 785 million rupees, down 89 percent from a year ago. Group sales in the 2009 financial year rose two percent to 48 billion rupees from the previous year, […]
Bank Return
Feb 26, 2010 (LBO) – Sri Lanka’s Hatton National Bank (HNB) said group net profits for the 2009 financial year rose 58 percent to 4.5 billion rupees with gains from investments in government securities while the loan book shrank. The bank said in a stock exchange filing that group December quarter profits shot up 156 […]
Arabian Call
Feb 25, 2010 (LBO) – Etisalat’s new Sri Lankan mobile subsidiary said it plans to expand coverage to cover the entire island, offer high speed links and use its international group network to give preferential rates to win customers. “We’re here to stay in Sri Lanka,” Etisalat group chief marketing officer Essa Al Haddad told […]
Commercial Profits
Feb 25, 2010 (LBO) – Sri Lanka’s Commercial Bank said group December quarter profits rose 8.3 percent to 1,207 million rupees while full year profits were up 1.7 percent to 4,191 million rupees. Basic earnings per share for the quarter were reported at 4.84 rupees and the full year at 16.80 rupees. In the December […]
Banking Fortunes
Feb 25, 2010 (LBO) – Sri Lanka’s Nation Trust Bank (NTB) group December quarter profits rose 5.0 percent to 181.1 million rupees from a year ago, and full year profits were up 16 percent 686.1 million rupees. For the year non-interest income was up 8.0 percent to 1.9 billion rupees, and non interest expenses were […]
Branch Expansion
Feb 25, 2010 (LBO) – Sri Lanka’s HSBC unit has opened a new branch in the capital Colombo pushing the total up to 15, within weeks of starting a new branch in the northern Jaffna peninsular. The new branch in Maitland Crescent in the upmarket Cinnamon Gardens or Colombo 7 area also has a ‘premier […]
Indian rail budget promises high-speed trains
NEW DELHI, February 24, 2010 (AFP) – India’s rail minister announced Wednesday plans for high-speed trains for Asia’s largest rail network as she kept fares unchanged — underscoring the government’s focus on “inclusive growth”. Indian Railways boasts a network of 109,000 kilometers (67,730 miles) that transports some 18.5 million people daily on 14,000 passenger and […]