Category: Industry
Slow Quarter
Aug 03, 2009 (LBO) – Sri Lanka’s DFCC Bank group said June 2009 quarter net profit fell 6.38 percent to 507.1 million rupees from a year ago owing to lower fee-based income, foreign exchange losses and weak returns from strategic investments. DFCC Group’s provisions for bad and doubtful debts had gone up 8.25 percent to […]
Fresh Capital
Aug 03, 2009 (LBO) – Sri Lanka’s Seylan Bank said it plans to issue 86 million ordinary shares at 35 rupees each in a one-for-two public offering to existing shareholders and a private placement with two state-run financial institutions.The current stated capital of Seylan Bank is 2.5 billion rupees comprising of 43.56 million ordinary shares, […]
Trade Links
Aug 03, 2009 (LBO) – A professional body representing Sri Lanka’s transport and logistics sector said it plans to get industry professionals together to lobby for better connectivity and less red tape. “With the end of 30 years of turmoil we’re now in a position to contribute significantly to develop many areas affected by war.” […]
Wider Spread
Aug 02, 2008 (LBO) – Sri Lanka’s Sampath Bank is expanding to the island’s north and the east helping boost an economic revival in the areas after the end of war three decade war, an official said. Sampath sees more potential in area as already business volumes are moving up. “In the eastern region pawning […]
Port View
Aug 02, 2009 (LBO) – The recession that triggered a steep slump in shipping may throw up opportunities for Sri Lanka’s Colombo port, a senior official of a company that has bid for a terminal in the harbour said. Dr Parakrama Dissanayake, chairman, Aitken Spence Maritime, part of the Aitken Spence conglomerate, said the recession […]
‘ case reported to ICC
KARACHI, August 1, 2009 (AFP) – Pakistan’s cricket board said Saturday it had made a report to the sport’s governing body about bookmakers trying to approach players during its ongoing tour in Sri Lanka.The move followed a report in Pakistan’s leading Urdu daily “Express” earlier this week alleging bookmakers were seen trying to make contact […]
Kapugedera guides Sri Lanka to victory
DAMBULLA, August 1, 2009 (AFP) – Chamara Kapugedera hit an unbeaten 67 as Sri Lanka overcame early shocks to defeat Pakistan by six wickets in the second one-day international here on Saturday. Thilan Thushara and Muttiah Muralitharan shared five wickets as Sri Lanka bowled out Pakistan for 168 runs and then surpassed the modest target […]
Organic Growth
Aug 01, 2009 (LBO) – Software giant Microsoft’s Sri Lanka unit, in the news because of widespread piracy here and its high product prices, is focused on spreading computer literacy to grow its business at double digit rates, officials said. The proprietary software maker, whose operating systems run 90 percent of computers worldwide, only has […]
Unhedged Constraint
Aug 01, 2009 (LBO) – The Sri Lanka unit of Standard Chartered Bank has retained its ‘AAA(lka)’ rating from Fitch, but the agency said its capital was hurt by a bad loan originating from oil derivative sales to a state-run oil distributor. The rating had a ‘stable’ outlook and reflected the financial strength of Standard […]
‘s Muralitharan announces Test retirement
DAMBULLA, July 30, 2009 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan said Thursday he will quit Test cricket next year, but continue to play limited-overs cricket.The 37-year-old off-spinner, with a record 770 Test and 507 one-day wickets, announced that he would play his last two Tests in the series against the West […]
Sri Lanka Union Assurance June net down 16-pct
July 31, 2009 (LBO) – Sri Lanka’s Union Assurance said net profit for the June 2009 quarter fell 16 percent to 41 million rupees from a year ago as tax costs and claims rose sharply.The company, in which John Keells Holdings has an 81 percent stake, said in a stock exchange filing that group revenue […]
Sri Lanka down Pakistan in first one-dayer
DAMBULLA, July 30, 2009 (AFP) – Seamers Thilan Thushara and Nuwan Kulasekera ripped through Pakistan’s top order as Sri Lanka won the first one-day international by 36 runs here on Thursday.Left-armer Thushara finished with 3-29 and Kulasekera took 2-30 as Pakistan struggled against Sri Lanka’s 232-9 and were bowled out for 196 in 44.4 overs […]