Category: Industry
Commercial Profits
March 4, 2008 (LBO) – Sri Lanka’s Commercial Bank group reported net profits of 4.1 billion rupees double that of last year, while revenues grew 44 percent to 35.2 billion rupees in 2007. The bank’s deputy chairman B R L Fernando said last year’s profits were depressed by a one-off pension buy back and ‘normalised’ […]
Gold Standard
Mar 03, 2008 (LBO) — A top Sri Lankan advertising agency that stirred up the industry after the Chilies 2008 ad awards has chosen not to go public with its grievances, but the row has raised new questions.Leo Burnet Solutions which bagged 30 percent of the awards, and clinched the second slot created a controversy […]
Construction Consortia
Mar 03, 2008 (LBO) – Sri Lankan construction companies which visited the Middle East to bid for a share of the building boom there are forming consortia to pool their resources, an industry official said. The firms will form joint stock companies which will be managed by the Chamber of Construction Industries (CCI), its secretary […]
Hatton Number
Mar 03, 2008 (LBO) – Hatton National Bank group net profits went up 40 percent to 3.2 billion rupees in 2007, as revenues increased 37.6 percent, results filed with the Colombo Stock Exchange showed. HNB’s stand alone profits went up to 3.0 billion rupees from 2.2 billion. Chairman Rienzie Wijetilleke told shareholders the profit would […]
Outside Aspirations
Mar 03, 2008 (LBO) – Sri Lanka’s Hatton National Bank is keen to get into Bangladesh though its first attempt to buy into a bank in that country was not completed, an official said. HNB was short listed to buy over Orient Bank which was being re-structured but in the final stage the bank gave […]
Sri Lankans fined for slow over rates
MELBOURNE, March 2, 2008 (AFP) – Sri Lanka paid the price for its thrilling win over Australia at the MCG on Friday, fined by the International Cricket Council (ICC) on Sunday for slow over rates. ICC match referee Jeff Crowe ruled the Sri Lankans were one over short when time allowances were taken into consideration […]
‘s Asian Alliance net up 60-pct
Mar 02, 2008 (LBO) – Sri Lanka’s Asian Alliance Insurance (AAIC) profits were up 60 percent to 113 million rupees with investment income more than doubling during 2007, audited accounts of the company showed. Assets in the life business went up to 1.1 billion rupees from 738 million and total assets were up to 1.9 […]
Lease Savings
Mar 01, 2008 (LBO) – Seylan Merchant Leasing, a unit of Sri Lanka’s Ceylinco group said it has raised 1.3 billion rupees in deposits after it was licensed as a finance company by regulators last year, the company said. It has a service which allows clients to view lease transaction details and payment history on […]
Bunker Race
Mar 01, 2008 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation plans to tie up with global ship supply firm GAC Ships to supply bunkers or ship fuel, officials said. The move is expected to bring down bunker prices in Colombo port, now among the highest in the world, as well as improve availability. The […]
New Journey
Feb 29, 2008 (LBO) – Sri Lanka will call fresh bids for a planned new container terminal in Colombo and is going ahead with a contract to build its breakwater, a senior port official said. The other major port operator which did not bid was Dubai Ports World, which is making huge investments in ports […]
Sri Lanka upset Australia
MELBOURNE, Feb 29, 2008 (AFP) – Australia’s Adam Gilchrist smashed a blistering 83 in his farewell appearance at the MCG but his teammates collapsed to hand Sri Lanka an unlikely 13-run win here on Friday. The tourists, in their final match of the tri-series, made 221, and Australia looked well set when Gilchrist launched an […]
Mobile Eye
Feb 29, 2008 (LBO) – Sri Lanka’s Kay Jay Security has tied with Dialog Telekom to provide a closed circuit television (CCTV) monitoring through third generation mobile technology, the company said. “Under the new joint-venture, customers in Sri Lanka will be able to subscribe to a package that includes the installation of CCTV at their […]