Category: Industry
Strong Numbers
Aug 24, 2009 (LBO) – Profits at Sri Lanka’s state-run Bank of Ceylon group grew 82. 1 percent to 1,832 million rupees from a year earlier, on strong net interest growth and forex income, despite higher loan losses, interim June 2009 quarter accounts showed. Deposits grew 13.7 percent to 361.2 billion rupees from the beginning […]
Sri Lanka offers Pakistan exclusive industrial zone: report
Aug 23, 2009 (LBO) – Sri Lanka has offered an industrial zone exclusively for Pakistan in a bid to promote inward investment from South Asian and Middle East regions, a media report said. Sayeed was quoted as saying that he will promote Pakistani firms to set up joint ventures in Sri Lanka and promote trade […]
Sri Lanka insurance firm makes loss as costs rise
Aug 23, 2009 (LBO) – Sri Lanka’s Asian Alliance Insurance Company said it made a 48-million rupee loss in the first half of 2009 as higher claims and operating and re-insurance costs erased gains from investment income. Asian Alliance said in a stock exchange filling gross written premiums for the first half 2009 went up […]
Sri Lanka thrash ailing Kiwis in first Test
GALLE, August 22, 2009 (AFP) – An illness-ravaged New Zealand were bamboozled in the face of pace and spin as Sri Lanka cruised to a 202-run victory in the first Test on Saturday to lead the two-match series. The Kiwis, set an improbable target of 413 runs, collapsed to 210 all out in their second […]
Mobile Cover
Aug 22, 2009 (LBO) – Mobitel, a unit of fixed access carrier Sri Lanka Telecom will spend up to 30 million US dollars expanding in to former war zones in the north and the east of the country, a top official said. The network had notched up 3.1 million subscribers, Amasekera said on August 19, […]
Sri Lanka press for win as weather holds key
GALLE, August 21, 2009 (AFP) – Bad weather appeared the main stumbling block in Sri Lanka’s bid to win the first Test after illness-hit New Zealand were boxed into a corner on Friday.The tourists, set an improbable target of 413 following an unbeaten century by Tillakaratne Dilshan, plodded to 30-1 in 13 overs by stumps […]
Shake Up
Aug 21, 2009 (LBO) – Sri Lanka’s Nations Trust Bank, a unit of John Keells Holdings has shaken up the top management of the bank shortly after an 800 million rupee foreign exchange loss was discovered. The bank was also being probed by Sri Lanka’s securities watchdog. Update II Saliya Rajakaruna, retiring chief financial officer […]
New Ship
Aug 21, 2009 (LBO) – Mercantile Shipping Company, a listed company that once had Sri Lanka’s biggest fleet, has taken delivery of the first of a pair of new buildings it ordered built by a Dutch yard.The stock exchange filing showed a gross profit of 17 million rupees in international business in the June 2009 […]
Bunker Share
Aug 20, 2009 (LBO) – The Sri Lanka unit of Indian Oil Corporation has about a third of the bunkering market barely 10 months after starting ship fuel sales at Colombo port, a top official said.“We started last November and we have about 35 percent market shares,” Lanka IOC managing director Suresh Kumar said. “Bunkering […]
New Zealand save follow-on against Sri Lanka
GALLE, August 20, 2009 (AFP) – Resolute batting by New Zealand’s eighth-wicket pair of Jesse Ryder and Daniel Vettori denied Sri Lanka a follow-on in the first Test here on Thursday.The duo, who came together with the Black Caps still needing 30 runs to avoid the follow-on in the rain-hit Test, put on a defiant […]
Sri Lanka apparel firm to make fleece fabric
Aug 20, 2009 (LBO) – Textured Jersey Lanka (TJL), a joint venture between Pacific Textiles and Sri Lankan apparel export group Brandix, said it plans to produce fleece fabric for Victoria’s Secret Pink loungewear brand. The firm also has wide-ranging finishing capabilities such as encapsulation, moisture management, seeding and other customized finishes, the statement said. […]
Sri Lanka Janashakthi Insurance six-month net up 223-pct
Aug 20, 2009 (LBO) – Sri Lanka’s Janashakthi Insurance said net profit in the six-months to June 2009 rose 223 percent to 265.6 million rupees from a year ago mainly on better cost control, lower claims and higher investment income. Janashakthi Insurance paid out 1.14 billion rupees in claims to customers during the first half […]