Category: Industry
Black Gold
May 10, 2008 (LBO) – Sri Lanka is to award its first offshore oil exploration contract before the end of May, petroleum minister A H M Fowzie said. The ministry was preparing a paper on bids received for offshore exploration and its recommendation to submit to the cabinet of ministers for approval next week, he […]
Serendipity
May 09, 2008 (LBO) – Sri Lanka is to start searching for oil onshore after the accidental discovery of gas seeping from the ground, government officials said. Petroleum minister A H M Fowzie said Friday the government has received technical support from Egypt to start the initial exploration work. The accidental discovery of signs of […]
On Hold
May 09, 2008 (LBO) – Sri Lanka is keeping retail fuel prices at current levels despite crude oil prices soaring to new highs and mounting losses at the state oil retailer, Petroleum minister A H M Fowzie said. The state-owned oil refiner Ceylon Petroleum Corporation (CPC) had run up losses amounting to seven billion rupees […]
‘s HNB Assurance March net up 9-pct
May 08, 2008 (LBO) – Sri Lanka’s HNB Assurance Ltd’s March quarter profits increased nine percent to 14.1 million rupees while revenue increased 40 percent with income from other activities doubling during the period, the firm’s un-audited accounts said. HNB Assurance, saw its revenue increase to 378.6 million rupees from 269.7 million, compared to the […]
Sri Lankan Airlines appoints chief executive
May 08, 2008 (LBO) – Sri Lankan Airlines has appointed Manoj Gunawardene, the airlines former head of worldwide sales as chief executive, the company said in a statement. Gunawardene has been with the airline for 25 years and 17-years in sales and commercial divisions. He had been regional manager UK, Europe and Americas, from 2005 […]
Talent Search
May 08, 2008 (LBO) – Amba Research, an investment research outsourcing firm, says four of its employees won gold medals at the convocation of the University of Colombo. Kushantha Perera won the award for the best student in statistics and best final year Project in Statistics and Sha Razeek won the best student in statistics […]
Fresh Start
May 08, 2008 (LBO) – The Asian Development Bank has agreed to change conditions on a loan to the Sri Lankan government to build a new deep-water harbour next to Colombo port, dredging on which is already underway, ADB and government officials said. These include Maersk, the world’s biggest shipping line, which has a stake […]
Sri Lanka chamber promotes links with Trinidad and Tobago
May 08, 2008 (LBO) – The embassy of the Caribbean island of Trinidad and Tobago is organizing a trade mission through its High Commission (embassy) in India and is looking for Sri Lankan firms to participate, the Ceylon Chamber of Commerce said. The trade and investment promotion mission is being organized to Trinidad and Tobago […]
Sri Lanka Eagle Insurance March quarter profits drop
May 08, 2008 (LBO) – Sri Lanka’s Eagle Insurance group March quarter net profit fell by half although revenue went up, according to the results sent to the Colombo stock exchange. Net profit for the first quarter ended March 31, 2008 fell by 53 percent to 15 million rupees, compared with the same period a […]
Brand Value
May 07, 2008 (LBO) – Dialog Telekom, Sri Lanka’s top celco has been named the most valuable brand in Sri Lanka in a ranking by Brand Finance, the company said Wednesday. The Dialog brand has been valued at 12.4 billion Sri Lanka rupees, retaining its place from last year. The ranking uses publicly available data […]
Profit Growth
May 07, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) group profits grew 41 percent to 144.2 million rupees in the March quarter with total revenue growing by half, interim results filed with the stock exchange showed. Group revenue was up 50 percent to 2,991 million rupees and interest expense grew 58 percent to […]
Sri Lanka Eagle claims handled round-the-clock
May 06, 2008 (LBO) – Sri Lanka’s Eagle Insurance has upgraded its customer care call centre with a single hot line for easy access and motor related calls handled round-the-clock, the company said in a statement. “In case a policyholder meets with an accident he or she can contact the call centre any time of […]