Category: Industry
On Track
Aug 28, 2008 (LBO) – Sri Lanka’s long-neglected railway system is a useful complement to roads and could take bulk freight transport off the roads, reducing traffic jams, a senior official said. However, he said, to make the best use of rail, railway station stations should be set up in a manner that suits the […]
‘s Vaas joins 400-wicket club
August 27, 2008 (AFP) – Sri Lanka’s Chaminda Vaas on Wednesday became the fourth bowler to complete 400 wickets in one-day internationals, achieving the feat during the fourth match against India here. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The left-arm seamer had Yuvraj Singh caught […]
Sri Lankan Airlines to re-fleet from Dec; Etihad main code-share partner
Aug 27, 2008 (LBO) – Sri Lankan Airlines expects to replace its older fleet of short haul Airbus A320s with new deliveries starting December and will also make Etihad its main code-share partner, a top official said.Though the aircraft would be more expensive, falling lease rentals in the wake of interest rate falls and better […]
Capital Gains
Aug 27, 2008 (LBO) – Sri Lanka’s DFFC Bank net profit for the June quarter rose 30 percent to 515 million rupees from 395 million rupees a year ago, helped by capital gains from the sale of shares, the bank’s interim results show. Profit for the June quarter included a one-off gain of 108 million […]
Hub Race
Aug 27, 2008 (LBO) – Tenders for the long-delayed first container terminal in the planned new Colombo south port will be called in the next 2-3 weeks, a senior Sri Lanka Ports Authority engineer said. “There is a very high demand for the south container terminal,” Kurukulasuriya said. He said the project was needed to […]
Double Whammy
Aug 26, 2008 (LBO) – Sri Lanka’s banks face challenging times with margins being squeezed as interest rates rise, a report by a stock brokerage said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 “The last two quarterly earnings seasons have shown testing times for […]
Tight Ship
Aug 26, 2008 (LBO) – Profits at Sri Lanka’s Hatton National Bank group dipped 17 percent to 567 million rupees in the quarter ended June 2008 as rising interest rates and flat loan growth took its toll, interim accounts released showed.The bank said in a statement that it had contained non-interest income which grew only […]
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 Lankan cricketers land Bollywood roles
August 25, 2008 (AFP) – Sri Lanka’s top cricketers had a shot at Bollywood stardom when they were filmed for an upcoming movie that features some of the best players in the world. Type ‘act (space) lbo’ and send to 678 to recieve instant alerts from LBO on your Dialog mobile. Scenes for “Victory,” a […]
‘s Janashakthi Insurance recovers in first half
Aug 25, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance Company recovered to post a profit of 82.2 million rupees for the first half of 2008, from a loss of 0.5 million a year ago, interim results released to the stock exchange showed. Janashakthi Insurance earnings per share increased to 0.37 rupees during the 6-month period […]
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 […]