Category: Industry
Sri Lanka John Keells agents for Air Mauritius
Nov 05, 2009 (LBO) – Mack Air (Pvt) Ltd, a unit of listed John Keells Holdings (JKH) said had been appointed the general sales agent for Air Mauritius in Sri Lanka from November 01. Romesh David who heads the transportation division of JKH said it will work with the airline to develop traffic between the […]
Profit Margins
Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government. Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent. Revenues rose 10.5 […]
Navigation Move
Nov 05, 2009 (LBO) – Colombo port has re-opened its northern entrance channel which had been closed for years owing to the threat of attacks by Tamil Tiger separatists who were defeated by government forces in May. But it had been completely closed since the airport attack. The Tamil separatists’ naval wing, the Sea Tigers, […]
Fed Printing
NEW YORK, November 3, 2009 (AFP) – Oil prices leapt Tuesday as commodities gained a boost from gold, which struck an all-time high above 1,000 dollars an ounce as markets fret about the prospects of global recovery from recession.New York’s main contract, light sweet crude for delivery in December, rose 1.47 dollars to close at […]
Sri Lanka HNB Assurance Sept profit down 09-pct
Nov 04, 2009 (LBO) – Sri Lanka’s HNB Assurance said net profit for the September quarter fell nine percent to 21.4 million rupees from a year ago, despite a sharp rise in investment income. Gross written premium rose 24 percent to 640 million rupees according to interim results announced by the firm to the Colombo […]
Protest
Nov 04, 2009 (LBO) – A group of graduates were water cannoned at tear gassed by police when they tried to march up to office of Sri Lanka’s president Mahinda Rajapaksa Wednesday as part of a protest demanding state jobs.Sri Lanka’s graduates educated at tax payer expense free in state universities have spread a successful […]
Higher Margins
Nov 04, 2009 (LBO) – Sri Lanka’s DFCC Bank has reported group net profits up 73 percent to 823 million rupees for the September 2009 quarter, from a year earlier as higher incomes from government securities boosted margins.Total group revenues rose 9.5 percent to 3.6 billion rupees, interim accounts filed with the Colombo Stock Exchange […]
Sea Perils
SYDNEY, November 4, 2009 (AFP) – Australia called off an air and sea search for survivors on Wednesday after a boat carrying unidentified Sri Lankans sank in remote seas far off its northwest, killing 12.Home Minister Brendan O’Connor said there was no hope of finding anyone else alive after the boat carrying 39 went down […]
Top Brands
Nov 03, 2009 (LBO) – Sri Lanka’s Munchee biscuit brand won top place as brand of the year, while Panadol, a paracetamol product, bagged the gold for the international brand at the eighth annual Sri Lanka Institute of Marketing (SLIM) brand awards. Unlike awards which recognizes creativity, SLIM brand award organizers say they judge the […]
Building Skills
Nov 03, 2009 (LBO) – Colombo Dockyard, a Sri Lankan shipbuilder, said it was eying more work for its heavy engineering division in the island as well as the south Asian region. The company said in a statement its subsidiary, Dockyard General Engineering Services (DGES), had changed its logo as it seeks to emerge as […]
Sri Lanka Continental for sale: report
Nov 01, 2009 (LBO) – Sri Lanka’s Hotel Ceylon Continental controlled by business magnate Nahil Wijesuriya is up for sale and the deal may be closed within two months, a media report said. Sri Lanka’s tourism authorities have legal powers to dictate pricing of hotels. “I am aggressively seeking to sell the property and hope […]
Fiscal Rates
Oct 31, 2009 (LBO) – Sri Lanka finance ministry would issue a circular directing state banks to cut lending rates and there was a possibility of private banks being also directed to cut lending rates through the island’s monetary authority, a government minister said.Sri Lanka’s powerful president Mahinda Rajapaksa ordered state bank to cut lending […]