Category: Industry
State Banking
Nov 19, 2009 (LBO) – Sri Lanka’s state-run Lankaputhra Development Bank (LDB) has received an ‘A’ rating on state support, Ram Ratings Lanka said but the bank’s bad loans had risen to 38.9 percent by end-August 2009. “Over the longer term, however, this ratio is expected to ease as concentration risk becomes more diluted due […]
‘s double ton floors India in first Test
AHMEDABAD, November 18, 2009 (AFP) – Former captain Mahela Jayawardene scored his sixth double-century as Sri Lanka seized control of the first Test against India here on Wednesday.Jayawardene was unbeaten on 204 as the tourists closed the third day at 591-5 in their first innings, a lead of 165 runs over India’s 426 with five […]
Sri Lanka to do tourism master plan
Nov 18, 2009 (LBO) – Sri Lanka is preparing a 10-year tourism master plan covering new infrastructure in former war zones and avoiding the haphazard development that happened in existing resort areas, an official said.S Kalaiselvam, director-general of the Tourism Authority, said a new master plan was needed to ensure planned, sustainable development of tourism […]
Capital Measures
Nov 18, 2009 (LBO) – Sri Lanka’s The Finance Company, which ran out of capital at the end of the September 2009 quarter, said it was cutting deposit rates and has called a meeting of shareholders on December 11.The firm had lost 1.528 billion during the six months to September 2009, had lost its capital […]
Sri Lanka lifted by Dilshan century in India Test
AHMEDABAD, November 17, 2009 (AFP) – Tillakaratne Dilshan smashed his fifth century of the year as Sri Lanka made a spirited reply in the first Test against India here on Tuesday. Dilshan hit 112, his 10th Test hundred, as Sri Lanka cruised to 275-3 by stumps on the second day in reply to India’s first […]
Military Ward
November 17, 2009 (LBO) – A hospital built by India’a Apollo chain that is now under Sri Lankan government control is to offer beds to military personal to become more socially equitable, a senior official said. The Apollo Hospital in Colombo was renamed Lanka Hospitals after it ended its licensing and support services agreement with […]
Sri Lanka tourism offers chance for quick post-war jobs: report
Nov 17, 2009 (LBO) – Post-war Sri Lanka has an opportunity to generate employment quickly by developing tourism to ensure employment for youth especially in conflict-affected areas, a new report said.The study by the US Agency for International Development (USAID) said it was important to initiate efforts that would have a “tangible impact’ on target […]
Finance Loss
Nov 17, 2009 (LBO) – Sri Lanka’s The Finance Company, a firm being re-structured under regulatory supervision, said it lost 835 million rupees in the September quarter, while interest income fell 37 percent to one billion rupees. The Finance, a member of the troubled Ceylinco group, is a registered finance company and is under supervision […]
Counter Action
Nov 16, 2009 (LBO) – Sri Lanka has declared several state utilities ‘essential services’ the government said, as industrial unrest threatened to increase following the assault of some workers and rejection of higher salary offers.The government said petroleum, water, ports and electricity services were declared essential services from midnight Sunday. Both power and water are […]
Strong Numbers
Nov 16, 2009 (LBO) – Sri Lanka’s NDB Bank said net profits for the September 2009 quarter was up 75-pct to 615 million rupees from a year earlier, while revenues grew 14.4 percent to 3.62 billion rupees. Interest income grew 5.3 percent to 2.89 billion rupees, interest expese fell 0.3 percent to 1.80 billion allowing […]
Tight Numbers
Nov 16, 2009 (LBO) – Sri Lanka’s state-run Bank of Ceylon group’s profit fell 63.3 percent to 256.7 million rupees in the September 2009 quarter from a year earliers, while revenues rose 2.7 percent to 15.86 billion rupees. Interest income grew 4.0 percent to 13.46 billion rupee, interest expenses grew at a faster 10.8 percent […]
Harbour Moves
Nov 16, 2009 (LBO) – Labour unions at Colombo port, Sri Lanka’s main harbour, Monday ended a ‘go-slow’ action that had caused delays to shipping lines, after striking a deal on a pay hike with the authorities. “This caused a loss of confidence in Colombo among foreign shipping lines.” He said one line was supposed […]