Category: Industry
Drug Link
June 03, 2008 (LBO) – PC Pharma, a unit of Sri Lanka’s PCH Holdings announced the launch of Bangladeshi Square Pharmaceutical products in Sri Lanka, which the firm says is competitively priced. Square Pharmaceuticals is a unit of Bangladeshi conglomerate, Square Group which has also diversified into healthcare, consumer goods and textiles, officials said. The […]
Japan may export rice to Sri Lanka: official
TOKYO, June 2, 2008 (AFP) – Japan is mulling a request from Sri Lanka to export up to 200,000 tonnes of its imported rice supplies to help Colombo ease acute food shortages, a Japanese foreign ministry official said Monday.But Japan, Asia’s biggest economy, is sitting on a rice mountain as it needs to import 770,000 […]
Lease Rate
June 02, 2008 (LBO) – Fitch Sri Lanka has lifted the credit watch on Commercial Leasing Company (CLC), following a take-over, and confirmed its ‘A-(lka)’ rating with a ‘stable’ outlook. CLC was taken over by Lanka Orix Leasing Company (LOLC) last month and was put on credit watch on May 16. The resolution of the […]
Regional Push
May 02, 2008 (LBO) – Sri Lanka’s central bank said financial institutions would have to open two branches outside the fast growing Western province to be allowed to open one in the area, which also contains the capital, Colombo. “Further, increased availability of bank branches and other outlets would enable people in the regions to […]
Foreign Deposits
June 2, 2008 (LBO) – Sri Lanka has allowed commercial banks to raise deposits from foreigners for their domestic banking units, from June 02, the Central Bank said. Analysts say the ability to raise more deposits (borrow abroad) may fill the dearth of dollars in the banking system which has helped create an interest rate […]
Sri Lanka hydro power capacity boosted by heavy rains
June 01, 2008 (LBO) – Heavy monsoon type rain from Saturday is bringing much needed water to Sri Lanka’s hydro power generation system though parts of the island are threatened by floods. Hydro complexes in the upper reaches of the Kelani River in particular had received more than 100 millimeters of rain yesterday, with some […]
Banking Numbers
June 01, 2008 (LBO) – Sri Lanka’s National Development Bank said group net profit for the March quarter rose 16 percent to 349 million rupees from a year ago with loan growth slow but with a tight control on bad loans. Total group income went up 45 percent to three billion rupees in the quarter […]
Chartered Profits
June 01, 2008 (LBO) – Standard Chartered Bank of Sri Lanka posted 44 percent growth in profits for the 2008 March quarter following a 22 percent growth in interest income, the published interim results showed. Standard Chartered’s deposit base grew at a slower pace of six percent to 55.59 billion rupees. Total assets stood at […]
State Fat
June 01, 2008 (LBO) – Sri Lanka needs to market price energy and consumers are now not only paying for the rise in international prices, but also for the high expenditure involved in operating the public sector, a think tank has said. Referring to official statements that the fuel import bill this year may be […]
Bolt electrifies with 100m world record of 9.72sec
NEW YORK, June 1, 2008 (AFP) – Jamaica’s Usain Bolt clocked a 100m world record of 9.72sec Saturday to electrify the Reebok Grand Prix athletics meeting.The 21-year-old broke the previous record of 9.74 set by compatriot Asafa Powell in Rieti, Italy, on September 9, 2007. With a favorable wind of 1.7m/sec, Bolt finished ahead of […]
Wireless Access
May 30, 2008 (LBO) – Sri Lanka’s wireless operator Lanka Bell has launched wireless broadband services offering hi-speed internet connectivity for home and enterprise users, the company said. “For home users it could be a great aid to education and social interaction.” Lanka Bell says it has a subscriber base of nearly one million. The […]
Burst Bubble?
May 30, 2008 (LBO) – World oil prices held steady in Asian trade on Friday after sharp falls on concerns over falling demand in the United States and other developed countries, analysts said.New York’s main oil futures contract, light sweet crude for July delivery, was 17 cents lower at 126.45 dollars a barrel after losing […]