Category: Industry
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 […]
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 […]
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 […]
Sri Lanka hammer England in tour opener
Nov 21, 2007 (AFP) – England’s bowlers got a taste of the perils that await them in the upcoming Test series as Sri Lanka’s second-string battered them in a practice match here on Wednesday.The Sri Lanka Cricket XI batted through the second consecutive day to take their overnight total of 218-3 to 500-5 declared by […]
KE Strategy
Nov 21, 2007 (LBO) – Sri Lanka could boost economic activity and social well-being through a knowledge economy (KE) strategy that makes better use of ‘grey matter’ the World Bank has said. “With globalization and the technological revolution of the last few decades, knowledge has clearly become the key driver of competitiveness and is now […]
Vital Links
Nov 21, 2007 (LBO) – Sri Lanka is in danger of losing an opportunity to emerge as a logistics hub for the south Asian region unless it acts to improve port efficiency, fast track infrastructure projects and cut red tape, officials said Wednesday. “Apart from peace, the most important requirement for Sri Lanka is logistics,” […]
Umpire sorry for giving Sangakkara out, says skipper
HOBART, Australia, Nov 20, 2007 (AFP) – South African umpire Rudi Koertzen apologised to Kumar Sangakkara for giving him out in controversial circumstances within sight of his seventh Test double-century here Tuesday. The star batsman was stunned when Koertzen gave him out to a catch by Ricky Ponting, which effectively ended Sri Lanka’s remote chances […]