Category: Industry
Migrant Impact
Aug 13, 2009 (LBO) – Migrants are left out of current stimulus packages and HIV/AIDS programmes are under threat, according to a new United Nations study.The paper, released at the ninth International Congress on AIDS in Asia and Pacific in Bali this week, said the adverse impact of the financial crisis on health and migration […]
Bank Numbers
Aug 13, 2009 (LBO) – Sri Lanka’s Commercial Bank said group profits rose 2.7 percent to 1,122.1 million rupees in the June 2009 quarter from a year earlier, while revenues rose 2.0 percent to 11.0 billion. Interest income fell 1.3 percent to 8.96 billion, interest expenses rose 1.8 percent to 6.12 billion rupees, causing interest […]
Sri Lankan Engineering maintains Pakistani, Indian aircraft
Aug 12, 2009 (LBO) – SriLankan Airlines engineering unit is strengthening relationships with regional airlines on its path to becoming a maintenance repair organization (MRO) for Asia, the Colombo-based airline said. Over the past year SriLankan Engineering has carried out certifications on aircraft of several airlines including Air Arabia, Kuwait Airways, Kingfisher, Qatar Airways and […]
Cell Sale
Aug 11, 2009 (LBO) – Luxembourg-based Millicom International Cellular which has put its Asian units on sale will sell 58.4 percent stake in its Cambodia unit to The Royal Group, its local partner, the company said.The stake in CamGSM will go for 346 million US dollars, valuing the unit at 605 million US dollars or […]
Northern Connect
Aug 12, 2009 (LBO) – Sri Lanka’s Dialog Telekom has activated the first phase of a network expansion into former war-torn areas in the north of the island, which may cost up to 10 million US dollars, officials said.“We have connected the first six sites, and we will build 60 more towers in tandem with […]
Tele Deal
Aug 12, 2009 (LBO) – Sri Lanka Telecom (SLT) said it has inked a deal with Mireka Capital Land (Pvt) Ltd, a large commercial and residential property project, to provide telecom services including fibre optic supported broadband facilities.Mireka Capital Land is a joint venture between Overseas Realty (Ceylon), a unit of Singapore’s SP Tao group, […]
Locally Made
Aug 12, 2009 (LBO) – Dubai-based EZY Infotech said it has launched their first computer made in Sri Lanka, a slim desk-top machine powered by Intel Atom technology. EZY Infotech set up a fully-automated manufacturing plant in February 2009 in the suburb of Ratmalana south of Colombo to make computers bearing the ˜Manufactured in Sri […]
Atoll Attraction
Aug 12, 2009 (LBO) – An international boat show to be held in the Maldive islands offers opportunities for Sri Lankan boat builders to cater to the archipelago’s transport requirements, officials said.Maldivian high commissioner Ali Hassen Didi said the water transport requirements of the country with 1,190 islands, almost 200 of them inhabited, were growing. […]
Sri Lanka Spence Hotel losses double in June
Aug 11, 2009 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings said losses more than doubled in the quarter ending June 2009, considered the off-season in the tourist industry, with the downturn in arrivals worsened by global recession. The company said in a stock exchange filing that its net loss rose 137 percent to 114 […]
Stored Value
Aug 11, 2009 (LBO) – Sri Lanka’s banking regulator said it intends to regulate and closely supervise payment card service providers almost a year after the collapse of one firm triggered a crisis in a local conglomerate. The Central Bank said in a statement that use of payment cards, such as credit cards, debit cards […]
Bank Rating
Aug 11, 2009 (LBO) – RAM Ratings said it has lifted the Rating Watch on Merchant Bank of Sri Lanka (MBSL) and also confirmed the long- and short-term ratings at AA- and P1. The long term rating has a stable outlook, the rating agency said in a statement. The AA- ratings of the bank’s 300 […]
Tele Calls
Aug 10, 2009 (LBO) – Profits of Sri Lanka Telecom group, fell 75 percent to 375 million in the June 2009 quarter, while revenues stayed flat at 11.74 billion rupees, with growth in data and mobile sectors, the company said. Operating costs rose 26 percent to 7.39 billion rupees, partly on account of Mobitel network […]