Category: Industry
First Half
Aug 25, 2008 (LBO) – Sri Lanka’s state-run People’s Bank group net profits fell 5.7 percent to 1,484 million rupees in the half year to June 2008, with incomes taxes more than doubling in the period, interim accounts showed. At bank level interest margin fell to 4.4 percent from 4.6 percent, return on assets to […]
Costly Interest
Aug 25, 2008 (LBO) – Sri Lanka’s DFCC Vardhana bank after-tax profits fell 69.5 percent to 16.3 million rupees in the quarter ended June 2008 as interest expenses took their toll of the bottom line, interim accounts showed. A subsidiary of the DFCC Bank, Vardhana bank’s revenue shot up 52.6 percent to 787.4 million rupees […]
Sri Lanka captain expects batsmen to deliver
August 23, 2008 (AFP) – Sri Lanka captain Mahela Jayawardene is looking forward to an improved batting performance from his team in the third one-day international against India starting here on Sunday. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 Batting let Sri Lanka down […]
‘s Condor maintain flights
Aug 23, 2008 (LBO) – Sri Lanka tourism promotion office said it is negotiating lower airport fees and providing marketing support to keep Germany’s Condor charter flying to the country, during the 2008 winter season. “Condor’s uninterrupted operation every fortnight to Colombo will ensure a steady flow of German visitors to Sri Lanka,” Sri Lanka […]
Loss Assessment
Aug 22, 2008 (LBO) – Sri Lanka’s John Keells Holdings (JKH) said a write-down at its bunkering unit could amount to 1.3 billion rupees after the firm lost a tank farm and a tax holiday, but the group was hopeful of capping losses at 704 million rupees.Following a Supreme Court decision that cancelled its tax […]
‘s HNB Assurance June net drops, revenue improves
Aug 22, 2008 (LBO) – Sri Lanka’s HNB Assurance June quarter net profit slipped three percent from a year ago as claims increased and the life insurance fund expanded, results released to the stock exchange show. HNB Assurance earnings per share increased to 0.28 rupees from 0.29 a year ago while net assets per share […]
Piracy Battle
Aug 21, 2008 (LBO) – Business Software Alliance (BSA) has appointed an attorney-at-law to support action against piracy in the software market in Sri Lanka, where nine out of ten programmes are unlicensed. The world wide rate for piracy is lesser at 38 percent or 47 billion dollars, Chan said. “The BSA anti piracy campaign […]
Banking Challenge
August 21, 2008 (LBO) – Hatton National Bank has staged a steady turnaround under the direction of its chief executive Rajendra Theagarajah. But with a weakening economy of high inflation and volatile interest rates, banks in general are under pressure.HNB is now looking at maintaining asset quality and increasing its exposure abroad as domestic loan […]
Fleet Plans
Aug 21, 2008 (LBO) – Sri Lanka’s Mercantile Shipping Company said it expects delivery of the first of two new cargo ships on order by the middle of next year as construction is slightly ahead of schedule.The company said it made good profits in the last financial year but that cash flow would be tight […]
Australia set to boycott Champions Trophy cricket
MELBOURNE, August 19, 2008 (AFP) – Despite the International Cricket Council (ICC) giving Champions Trophy security the all clear on Tuesday, players from the defending champions, Australia, are set to boycott the upcoming one-day tournament, Australian newspapers were reporting early Wednesday. The Champions Trophy is scheduled for September 12-28 in troubled Pakistan and ICC chief […]
Sri Lanka strike back in India one-dayer
DAMBULLA, August 20, 2008 (AFP) – Sri Lanka hit back with two quick wickets after posting a modest 142 in the second one-day international against India here on Wednesday.India lost makeshift opener Irfan Pathan (five) and Suresh Raina (one) before reaching 17-2 in reply at the break.Virat Kohli was unbeaten on seven and Yuvraj Singh […]
India level series with tense victory
DAMBULLA, August 20, 2008 (AFP) – Mahendra Singh Dhoni capped Zaheer Khan’s devastating spell with a crucial 39 as India posted a tense three-wicket win over Sri Lanka in the second one-day international here on Wednesday. Left-arm seamer Zaheer ran through the top order in his incisive opening spell to finish with 4-21 as India […]