Category: Industry
Bunker Compensation
Dec 03, 2008 (LBO) – Sri Lanka’s John Keells Holdings group said that the Supreme Court had ruled that former employees of its bunker fuel unit be paid 153 million rupees it had kept as a deposit for compensation.To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 JKH […]
Sri Lanka evacuates nationals from Thailand through military base
December 3, 2008 (AFP) – Sri Lanka operated special flights to a Thai military base to evacuate all its 378 nationals stranded in Thailand due to political protests, acting foreign minister Hussein Bhaila said Wednesday. The country’s national carrier, Sri Lankan airlines, operated flights to Thailand’s U-Tapoa airbase and completed the evacuation of all its […]
Sri Lanka GSP+ extended till probe over
Dec 02, 2008 (LBO) – Trade concessions from the European Union have been extended till about the middle of next year until a probe on Sri Lanka’s eligibility is completed, an official said. International Trade Ministry Secretary S. Ranugge said the EU had informed the government of the decision. The probe which began in October […]
Labour unrest hits Sri Lankan-managed Maldivian resort
Dec 2, 2008 (LBO) – Over 100 people attached to Sri Lankan Aitken Spence Group’s Meedhuparu Island resort in the Maldives, have struck work demanding better working conditions, joining colleagues in three other resorts, reports said. The strike, which began over the weekend, is initiated by Maldivian employees who want the management to implement the […]
Secure Plastic
Dec 02, 2008 (LBO) – Sri Lanka’s Sampath Bank has launched chip-embedded credit cards in a bid to outsmart credit card fraudsters who are increasingly targeting the country, officials said. Countries like Malaysia which had become credit card ‘hot spots’ had managed to fight off fraud with computer chip-embedded ‘smart’ cards. “Due to chip technology […]
Sri Lanka grind out final ODI win for whitewash
HARARE, November 30, 2008 (AFP) – Sri Lanka rounded out a 5-0 series victory in Zimbabwe at Harare Sports Club here Sunday, winning by just 19 runs after struggling to 152 all out having been put into bat.Zimbabwe, whose spinners had given them a chance on a lifeless pitch at least to try to prevent […]
Tele Rate
Dec 01, 2008 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s ‘B+’ long term foreign currency credit rating, with a stable outlook, and says it is increasing market share in the mobile market, though margins are narrowing. “The company also enjoys a dominant share of the international long-distance and IP and data-related services.” In […]
State Facts
Dec 01, 2008 (LBO) – Net profits of state-run Bank of Ceylon fell 5.6 percent in the 9-months to September while revenues grew 20.6 percent to 43.9 billion rupees, interim accounts published by the bank showed. Deposits grew to 325.6 billion rupees from 310.4 billion rupees in the nine months. Savings accounts grew to 141.3 […]
Standard Numbers
Dec 01, 2008 (LBO) – Sri Lanka’s Standard Chartered Bank unit has reported a net profit increase of 55 percent to 1,803 million rupees in the 9-months ended September 2008, while revenues climbed 29 percent to 7,338 million rupees. The bank had gross assets of 78.9 billion rupees and net assets of 12.7 billion rupees […]
Citi Profits
Dec 01, 2008 (LBO) – Profits of the Sri Lanka unit of Citibank soared 134 percent in the 9-months to September 2008 to 1,276 million rupees, driven by a steep increase in fee income, while revenues grew 38.9 percent to 2,247 million rupees, its interim accounts showed.Citibank Sri Lanka had gross assets of 20.7 billion […]
Still There
Nov 30, 2008 (LBO) – Sri Lanka’s petroleum ministry has not yet been taken over by President Mahinda Rajapaksa, following a court ruling by the Supreme Court, a media report said Sunday. The Sunday Times newspaper, quoting petroleum minister A H M Fowzie said he had not received any instructions from the country’s president. The […]
Hedge Saga
Nov 29, 2008 (LBO) – Sri Lanka’s Standard Chartered Bank unit says it was not directly affected by a court order which halted payments due under a hedge it arranged for a state-run oil distributor and said it welcomed a probe into the deal.Sri Lanka’s Supreme Court Friday ordered the country’s central bank to probe […]