Category: Industry
Bank Numbers
June 02, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) group net profit went up 30 percent to 455 million rupees in the quarter ended March 31, 2009 despite the adverse economic conditions, while bad loan provisions increased. Total group income roe 18 percent to 3.6 billion rupees, the bank said in a statement. […]
Sangakkara learning to live with Lahore memories
LONDON, June 1, 2009 (AFP) – Sri Lanka captain Kumar Sangakkara said that while life for his side would not be the same after the attack on their team bus in Pakistan it would not stop them from playing international cricket. Sangakkara’s men have arrived in England for the ICC World Twenty20 after a particularly […]
Savvy Credit
June 01, 2009 (LBO) – Sri Lanka’s DFCC Vardhana Bank said it had launched a credit card targeting high-end customers and to improve access despite difficult market conditions owing to lower consumer spending and high taxes.“We’re now moving towards a cashless society and the bank has started by introducing credit cards,” DFCC group chairman Rajan […]
”’ Malinga back in supernatural swing
LONDON, May 31, 2009 (AFP) – Lasith Malinga is such an integral part of Sri Lanka’s fast bowling arsenal that it needed the nation’s president to intervene and ensure he was fit for the World Twenty20s in England. The bowler with the rare sling-arm action, whose toe-crushing yorkers have tested the world’s finest batsmen, sat […]
Prized Writers
May 30, 2009 (LBO) – The International Policy Network (IPN), a London based organization that offers an annual journalism award for writers that help promote a free society, is giving a separate award for online writers from this May. The awards are named after Frédéric Bastiat, a 19th-century French philosopher and journalist started in 2002. […]
Box Bug
May 30, 2009 (LBO) – Ships calling at Colombo port are experiencing delays owing to teething problems in a new Sri Lanka Ports Authority (SLPA) computer system to manage its container terminals, shipping agents said.But the SLPA has told port users that it was working to solve the problems with the terminal management system and […]
Hedge Loss
May 29, 2009 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said it lost 1.6 billion rupees in the March 2009 quarter against a profit of 890.7 million last year as the firm was hit by adverse oil hedges and taxes. But oil prices collapsed in the second half of 2008 and the […]
Sri Lanka govt seeks extra funds for export support package
May 29, 2009 (LBO) – Sri Lanka’s government said it plans to ask parliament for extra funds to pay for a bailout package to help exporters cope with a downturn in trade caused by recession. Cabinet spokesman media minister Anura Yapa said the cabinet this week had approved the mechanism through which exporters can get […]
Emirates adds 22 weekly flights to India
May 29, 2009 (LBO) – Emirates airline said it will add 22 weekly flights to India in an expansion encouraged by liberalization of its skies that made the sub-continent one of the world’s fastest-growing aviation markets. The Dubai-based carrier said in a statement the move will support for the Indian government’s ambitious growth plan to […]
Mobile Spin
May 29, 2009 (LBO) – Sri Lankan celco Mobitel will spend 557 million rupees (4.85 million US dollars) in a four year sponsorship of the island’s cricket team, the company’s parent, Sri Lanka Telecom (SLT) said. SLT said in a stock exchange filing that the deal, one of the largest announced by a Sri Lankan […]
Housing Woes
May 29, 2008 (LBO) – Sri Lanka’s Housing Development and Finance Corporation (HDFC) said it made a loss in the March 2009 quarter amid rising interest expenses and sharp falls in interest and fee-based income. The bank made a loss of 52 million rupees in the three months ending March 31, 2009 compared with a […]
Good Credit
May 29, 2009 (LBO) – A central bank supported credit scheme to help war-affected Sri Lankans will not use printed money, but cash from a revolving credit facility separately managed by the monetary authority, a top official said. Sri Lanka’s central bank is planning a re-finance to jump-start lending to the war-affected so that they […]