Category: Industry
Sri Lanka hydro storage fall below 300 million units
Mar 09, 2009 (LBO) – Hydro storage at Sri Lanka’s state-run power utility fell below 300 million units or 24 percent of capacity, with the firm offering to pay large customers to generate their own power.A newspaper advertisement by the Ceylon Electricity Board said inflow to its reservoirs during the past five months was the […]
Usage Gap
Mar 09, 2009 (LBO) – Sri Lankans low income customers of mobile communications, used phones least for business related activities in the region, potentially opening up a new marketing opportunity for celcos, a new study has found. “People who use phones for such activities have a higher income and people who don’t have a lower […]
Psychologists help Sri Lanka cricketers
March 8, 2009 (AFP) – Sri Lanka has hired psychologists to help its national cricket team overcome the trauma they suffered in the militant attacks in Pakistan, a doctor said Sunday. The four specialists would work “to mentally boost our cricketers, help them heal their mental scars and overcome the tragedy,” Geethanjana Mendis, head of […]
Better Margins
March 08, 2009 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) said group net profit rose 17 percent to 593 million rupees in 2008 from a year ago and that it managed to increase market share.Group total income in the financial year ending December 31, 2008 rose 49 percent to 13.9 billion rupees with net […]
Docking Trends
March 07, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit rose 32 percent to almost 1.5 billion rupees in 2008 from the year before, as it reaped the benefits of the shipping boom earlier in the year. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Pakistan IDs cricket attackers, security concerns mount
LAHORE, March 6, 2009 (AFP) – Authorities in Pakistan said they had identified the gunmen who attacked the Sri Lankan cricket team, as international concern mounted Friday over how the security plans failed. Prime Minister Kevin Rudd of Australia, home to two officials caught up in Tuesday’s deadly attack in the city of Lahore, demanded […]
Intervention
Mar 06, 2009 (LBO) – Sri Lanka’s central bank said it is looking for managing agents for two registered finance companies in the troubled Ceylinco group and a management shake-up is on the cards for another. Managing agents were being sought for Asian Finance and Ceylinco Investment and Realty under central bank monitoring while the […]
Leasing Sale
March 06, 2009 (LBO) – Sri Lanka’s largest leasing company is in talks to buy a leasing company in the island’s Ceylinco group, a listed investment bank in the group said in a stock exchange filing.Seylan Merchant Bank is in talks with People’s Leasing Company, a unit of state-run People’s Bank, to sell a controlling […]
Management Chat
Mar 06, 2009 (LBO) – Merchant Bank of Sri Lanka, (MBSL) a unit of state-run Bank of Ceylon, said it was in talks with the regulator to manage and rehabilitate Ceylinco Savings Bank, a member of the island’s troubled Ceylinco group. In another development Seylan Merchant Bank said it was in talks with People’s Leasing […]
Flat Rate
Mar 06, 2009 (LBO) – Commercial Bank of Ceylon group has reported profits of 4,118.9 million rupees for the year ended December 2008, lower by 0.7 percent, with revenues growing 24.8 percent to 43.9 billion rupees. Group interest income grew 21.9 percent to 37.2 billion rupees, interest expense grew 28.44 percent to 24.3 billion and […]
New Lease
Mar 06, 2009 (LBO) – A Sri Lankan motor company is offering a ‘buy now, pay later’ auto leasing scheme, which it hopes will boost sales that have plunged with the economic slowdown. The new leasing facility introduced by Associated Motorways (AMW) allows potential customers to purchase a Suzuki M800 car today and commence lease […]
Aussie umpire slams security for terror attack
SYDNEY, March 5, 2009 (AFP) – Australian cricket umpire Steve Davis slammed Pakistan on Thursday for failing to protect him and other officials who came under fire during the attack earlier this week on Sri Lanka’s cricket team.“The driver’s foot was lodged on the accelerator and it was revving at a million miles an hour,” […]