Category: Industry
Outsourced Analysis
Feb 05, 2010 (LBO) – An investment research outsourcing firm with offices in Sri Lanka said it has been ranked among top three global vendors for financial services analytics in an annual survey. The annual Black Book of Outsourcing survey for 2009 said Amba emerged as the most preferred vendor in the financial services analytics […]
Drinking Water
Feb 05, 2010 (LBO) – A water supply scheme in Galle district in Sri Lanka’s south will get an additional 2. 5 million Euros of financing from Germany to complete the project after costs escalated, a senior minister said. Germany had given a 15 million Euro grant on December 07, 2009 for the second phase […]
Pakistan MPs query delay in report on Sri Lanka team attack
ISLAMABAD, February 3, 2010 (AFP) – A parliamentary sports committee Wednesday summoned Pakistani security officials to explain a delay in the release of a report on last year’s terror attack on Sri Lanka’s cricket team in Lahore. A senior federal government official told the committee the government had yet to receive a report on the […]
Bank Spread
February 4, 2010 (AFP) – Banking giant HSBC will open a branch in Sri Lanka’s former war zone, the first foreign bank to do so since the end of the country’s long ethnic conflict, the central bank governor said Thursday. HSBC will open for business in Jaffna, the heartland of the island’s Tamil minority, next […]
Trade Flows
Feb 04, 2010 (LBO) – Cargo volumes at a government-owned container terminal in Sri Lanka’s Colombo port went up in December from a year ago, as trade flows picked up with global recession coming to an end. Total volumes at SAGT have largely been growing this year, although domestic import/export volumes have been hit by […]
Outsource Chances
Feb 03, 2010 (LBO) – Sri Lanka’s software industry has launched a campaign to draw information technology and business process outsourcing work mainly from small and medium firms in the United Kingdom and Europe, an industry body said. The Sri Lanka Association of Software and Service Companies (SLASSCOM) said in a statement it was aiming […]
Sri Lanka Spence Hotel Dec net profit Rs210mn
Feb 03, 2010 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings made a December quarter net profit of 210 million rupees with total revenues up 20 percent to 1.98 billion rupees from a year ago. According to accounts filed with the stock exchange, the net profit in the quarter, although nominally down 41 percent from […]
Retail Profits
Feb 02, 2010 (LBO) – December quarter profits at Sri Lanka’s largest supermarket chain, Cargills (Ceylon) group, rose 49. 1 percent from a year ago despite flat sales growth, as finance costs fell interim results showed. The group made a net profit in the December quarter of 189. 8 million rupees despite total revenues staying […]
Slow Growth
Feb 02, 2010 (LBO) – Sri Lanka’s Keells Food Products group made a loss of 54 million rupees in the December quarter largely owing to losses in its India business which however it is continuing to expand, interim results showed. Revenues of the company, part of the John Keells conglomerate, fell four percent to 513 […]
Sri Lanka tourism authority gets new boss
Feb 02, 2010 (LBO) – Sri Lanka’s tourism minister has appointed a new chairman, Eranga Basnayake, to the tourism development authority, an official said. In another development reports said Sri Lanka Telecommunications Regulatory Commission director general Priyantha Kariyapperum has resigned. Ministry secretary George Micheal said the new appointment was made by tourism minister Achala Jagoda. […]
Sri Lanka fabric firm hit by lower prices, smaller orders
Feb 01, 2010 (LBO) – Sri Lankan fabric manufacturer Hayleys MGT Knitting Mills said December quarter profit fell sharply owing to lower prices and loss of orders to cheaper competitors. Net profit in the December quarter fell 73 percent to 20.7 million rupees from a year ago while sales fell 17 percent to 1.3 billion […]
Share Split
Feb 01, 2010 (LBO)- Sri Lanka’s Sampath Bank plans to give shareholders an extra share for every 10 held by them in a share split that would increase total listed shares to 75.7 million, it said in a stock exchange filing. The share split is awaiting shareholder approval. The share split would effetely increase Sampath […]