Category: Industry
Bank Fortunes
Aug 07, 2009 (LBO) – Sri Lanka’s Sampath Bank said profits for the June quarter went up 20 percent to 449 million rupees from a year ago on higher interest margins, fee-based income and loan recoveries, despite a shrinking loan book. Sampath Bank said in a stock exchange filing that group interest income for the […]
Minimum Price
Aug 07, 2009 (LBO) – Sri Lanka’s state-run ports authority will seek a higher royalty from the sole bidder to operate a terminal at Colombo, while keeping open other options including re-tendering, an official said. The bid to build and operate a container terminal at an extension to Sri Lanka’s main port is half the […]
Box Business
Aug 07, 2009 (LBO) – Container volumes rose again in July 2009 at a Colombo port terminal partly owned by John Keells Holdings whose transportation business has been hit by the trade slump and loss of a ship fuel monopoly. Relatively low margin transhipment traffic accounts for a growing proportion of SAGT’s total throughput, they […]
Sri Lank Aitken Spence eye war-torn areas for tourism
Aug 07, 2009 (LBO) – Sri Lanka’s Aitken Spence said it was eyeing tourism projects in the north and east of the island after the end of an internal conflict though group earnings dropped as arrivals slumped both at home and in the Maldives. “We are vigorously looking at opportunities in all sectors to partner […]
Sri Lanka insurance regulator suspends Ceylinco Takaful
Aug 06, 2009 (LBO) – Sri Lanka’s insurance regulator, the Insurance Board of Sri Lanka, has suspended the registration of Ceylinco Takaful for general insurance for three weeks, the government information department website said.It gave no further details. The suspension imposed on Ceylinco Takaful Limited remains till August 26, 2009, it said.It quoted the IBSL […]
Knowledge Wiki
Aug 06, 2009 (LBO) – Lankapedia, a newly launched Sri Lanka specific site styled on the popular Wikipedia portal, is setting the stage to make user generated content about the island more popular, officials said. “I think user generated content is the future,” says Rohan Samarajiva, head of LirneAsia, a regional think tank that has […]
Common Cause
Aug 06, 2009 (LBO) – Sri Lanka’s transport and logistics professionals are to form a ‘logistics directors’ forum’ that aims to get industry leaders together to work for common objectives, a senior official said. “The general impression we got from all of them was that logistics is a key area for the country which we […]
Sri Lanka to increase diplomatic representation in China
Aug 05, 2009 (LBO) – Sri Lanka will open a consulate in Chengdu, following the opening of a consulate in Shanghai, increasing the island’s diplomatic representation in China, the foreign ministry said. Foreign minister Rohitha Bogollagama who met visiting vice-governor of China’s Yunan province Gao Feng who was accompanied by a trade delegation. Minister Bogollagama […]
Tele Moves
Aug 05, 2009 (LBO) – India’s Bharti Airtel is planning to bid for Sri Lanka’s Tigo network which has been put on sale by its parent, Millicom International Cellular, a media report said. “Millicom’s Asian assets are potentially interesting for VimpelCom, because they are based in the region that VimpelCom views as the main strategic […]
Flu Epidemic
RIYADH, August 4, 2009 (AFP) – A Sri Lankan man and a Saudi teenager suffering from a heart defect have died from swine flu, raising the country’s flu death toll to six, the Saudi health ministry said on Tuesday.The Sri Lankan man, 32, was found dead in his hotel room on Monday, while the 15-year-old […]
Car Carrier
Aug 05, 2009 (LBO) – Global car carrier Höegh Autoliners has resumed calls at Colombo port, the Sri Lanka Ports Authority (SLPA) said.A new port being built in southern Hambantota will have space fpr vehicle transhipment and assembly operations, he said. “We could see many lines arriving here for Ro-Ro (roll on-roll off) operations in […]
Pakistan bosses under fire after SLanka defeat
KARACHI, August 4, 2009 (AFP) – Former players Tuesday called for a major shake-up in Pakistani cricket after the national side lost the five-match one-day series against Sri Lanka 3-0. Sri Lanka, who won the preceding three-Test series 2-0 to post their first home series win against Pakistan, crushed Pakistan by six wickets on Monday […]