Category: Industry
Sri Lanka whitewash Kiwis despite Vettori ton
August 30, 2009 (AFP) – Sri Lanka clinched second spot behind South Africa in the official rankings as they swept aside New Zealand by 96 runs in the final Test on Sunday to sweep the series 2-0.Left-arm spinner Rangana Herath claimed five wickets as the Kiwis, set an improbable victory target of 494 runs, were […]
No Loans
Aug 29, 2009 (LBO) – Sri Lanka’s Citibank, which had reported around 22 billion rupees of bad loans following a defaulted derivative sold to a state-run oil distributor, has taken the number off its balance sheet in the June 2009 accounts.In March 2008, the bank reported 22.6 billion rupees classified as ‘other loans’ among non-performing […]
Naval Outlook
Aug 29, 2009 (LBO) – Sri Lanka is looking to protect its economic interests in the ocean with the navy playing bigger role after the end of the ethnic war to ensure terrorism does not recur, a senior defence official said. “Especially in an island nation like ours, the navy has an important role to […]
Sri Lanka set Kiwis 494 to win final Test
August 29, 2009 (AFP) – New Zealand were set a target of 494 runs to win the final Test after Sri Lanka declared their second innings at 311-5 in the post-lunch session on the fourth day on Saturday.The declaration came as soon as Mahela Jayawardene was dismissed for 96. Sri Lanka are looking for a […]
Upgrade
Aug 28, 2009 (LBO) – RAM Ratings Lanka has upgraded the long-term rating of LB Finance (LBF) by one notch to ‘BBB’ from ‘BBB-‘ with a ‘stable’ outlook and its short term ‘P3’ rating has been confirmed. LBF’s return on assets (ROA) rose to 4.49 percent by March 2009 (end-March 2008: 4.01 percent) and return […]
Sri Lankan airlines loses Rs10bn
Aug 27, 2009 (LBO) – Sri Lankan Airlines group has lost 9.99 billion rupees in the year to March 2009, down from a profit of 4.9 billion rupees a year earlier as revenue fell amid a global downturn and falling tourism arrivals at home. Sri Lankan Airlines group also has a catering subsidiary. At stand […]
Tele Rate
Aug 27, 2009 (LBO) – Standard and Poor’s has lifted the outlook of Sri Lanka Telecom’s (SLT) rating to ‘stable’ from negative, shortly after the host country’s outlook on its ‘B’ sovereign rating was lifted. “The stable outlook on SLT reflects the country risk factors,” S&P said. “Any downward movement of the sovereign ratings could […]
‘s rare double
August 26, 2009 (AFP) – New Zealand captain Daniel Vettori became only the eighth player ever to achieve the double of 3,000 runs and 300 wickets as Sri Lanka groped for runs in the second Test on Wednesday. The left-arm spinner, who has scored 3,329 runs, claimed his 300th wicket when he had his Sri […]
Big Deal
Aug 26, 2009 (LBO) – The acquisition of a big stake in Sri Lanka Telecom, the island’s dominant fixed-line operator, by Malaysia’s Global Telecommunications Holdings NV has been nominated for a global mergers and acquisition award. The nomination has been made under the Media, Entertainment or Telecom Deal of the Year category of the awards […]
‘s Aitken Spence eyes health tourism, new resorts
Aug 26, 2009 (LBO) – Sri Lanka’s Aitken Spence Hotels is expanding the profitable health tourism business and plans new resorts on prime beach properties kept dormant during the ethnic war, a senior official said. “The Maldives as a whole has experienced a downturn because of the global economic turmoil.But we’re seeing a recovery and […]
Sister Ship
Aug 26, 2009 (LBO) – Sri Lanka’s Mercantile Shipping Company, a listed ship owner, said it will take delivery of its second newly built cargo ship in November.The first of a pair of new cargo ships built by a Dutch yard and named Mercs Uva was delivered last month and has already been charted out, […]
Ship Arrest
Aug 26, 2009 (LBO) – An Indian-owned container vessel arrested by Sri Lankan port authorities for non-payment for fuel supplies has been released after the owners paid the supplier. The High Court of Colombo ordered the arrest of MV Gati Pride on August 14 after ship fuel supplier Lanka Maritime Services sought its detention saying […]