Category: Industry
‘s Tharanga gives England a headache
Nov 25, 2007 (AFP) – Sri Lanka’s young batsman Upul Tharanga staked a strong claim for the first Test against England with another powerful display against the tourists here on Sunday.The left-hander, who made 112 in the tour opener last week, smashed 86 as the Sri Lanka Cricket XI made 298-9 by stumps on the […]
Sri Lanka a treasure trove of unexplored maritime history: archaeologists
Nov 25, 2007 (LBO) – Archaeologists working on a Dutch colonial era shipwreck in Sri Lanka’s southern Galle port say 12 more wrecks lie submerged, awaiting excavation and cataloging as historical treasure. In 1999, the team had also uncovered a human skull. “There are 27 sites which contain 12 shipwrecks in the Galle port,” Rasika […]
England Test spots against Sri Lanka up for grabs
Nov 24, 2007 (AFP) – England start their lone first-class match on the Sri Lankan tour here on Sunday hoping to fill the blanks in the Test squad for the series starting in a week’s time. Sri Lanka Cricket XI: Tillekeratne Dilshan (capt), Upul Tharanga, Mahela Udawatte, Malinda Warnapura, Jehan Mubarak, Chamara Kapugedara, Kaushal Silva […]
Double Show
Nov 24, 2007 (LBO) – After tax profits of Habib Bank in Sri Lanka almost doubled to 118 million rupees for the nine months ended September 2007, published company statements showed. The bank, a branch of the largest bank in Pakistan, posted an income of 285 million rupees for the three quarters ended September, up […]
Forward Look
Nov 23, 2007 (LBO) – A manufacturing industry group has organized a forum on Sri Lanka’s monetary developments in a bid to understand what could happen in the future. “Many business enterprises are unsure about the future and wish to understand future scenarios in order to plan their future strategies, take advantage of possible opportunities […]
Slow Down
Nov 23, 2007 (LBO) – People’s Merchant Bank (PMB) net profit for the September quarter fell 13 percent year-on-year to five million rupees, according to interim results sent to the Colombo bourse. Total income increased 26 percent to 90 million rupees in the same period. But net interest income was up only 10 percent to […]
Opening Up
Nov 23, 2007 (LBO) – Maersk, the world’s biggest shipping line and Colombo port’s top customer, advised Sri Lanka to further liberalise the sector for the island to become a logistics hub. Maard said Colombo does have a great opportunity to become a strong logistics hub provided it acted fast to remove existing constraints. “Colombo […]
NPL Hit
Nov 22, 2007 (LBO) – The Sri Lanka branch of HSBC has taken a record 1.4 billion rupee hit from bad loans which saw net profits plummeting 56 percent in the first nine months of the year, the bank’s interim accounts showed. HSBC made a specific provision of 1,414 million rupees, up from 120 million […]
Sri Lanka England tour opener ends in draw
Nov 22, 2007 (AFP) – England drew their first match of the Sri Lanka tour on Thursday after gaining useful batting practice at the Colombo Cricket Club. The tourists, replying to Sri Lanka Cricket XI’s mammoth 500-5 piled over the first two days of the practice match, scored 315-6 on the final day before the […]
‘s biggest biomass plant
LONDON, Nov 21, 2007 (AFP) – Britain is to build the biggest biomass plant in the world, Business Secretary John Hutton said after giving the green light to the renewable energy project.Doug Parr, Greenpeace UK’s science spokesman, also lamented the fact it would not produce heating too and expressed concerns about the wood being transported […]
Getting Close
Nov 22, 2007 (LBO) – Amba Research, a specialised investment research outsourcing firm with offices in Sri Lanka said it had been short-listed for an award program run by the Chartered Institute of Management Accountants (CIMA) and the Financial Times newspaper of London.The CIMA Employer of the Year award had been previously won by firms […]
Slow Quarter
Nov 22, 2007 (LBO) – Sri Lanka’s PABC Bank said net profit for the September quarter was down five percent year-on-year to 40 million rupees. Interest income rose to 521 million rupees from 342 million rupees in the same period the year before, according to interim result given to the Colombo bourse. Net interest income […]