Category: Industry
‘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 […]
Casualty
Aug 20, 2008 (LBO) – A cargo vessel owned by Sri Lanka’s Vallibel group sank off the Bangladeshi port of Chittagong Wednesday after colliding with a tanker, shipping and company officials said. The Vallibel group of businessman Dhammika Perera owns a few merchant ships. The crew of Sri Lankan and Burmese was rescued, they said, […]
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 […]
Sri Lankan Airlines in the black with aircraft sales
Aug 20, 2008 (LBO) – Sri Lanka’s national carrier SriLankan Airlines has posted a 4.8 billion rupee profit with capital gains from aircraft sales, in a year that it was hit by rising fuel costs and weak tourist arrivals to the island. The carrier had lost 6.1 billion rupees (57 million US dollars) on its […]
Slow Mobile
Aug 20, 2008 (LBO) – The Sri Lanka unit of Hong Kong-based Hutchison Telecom says its mobile subscribers in the island will drop after correcting an “overstatement” and tighter government registration rules in 2008. Revenue in the six months to June had risen 3.5 percent to 89 million Hong Kong dollars from 86 million dollars […]