Category: Industry
Spending Power
Nov 02, 2007 (LBO) – Sri Lankan conglomerate Hemas Holdings has reported a sharp fall in net profit for the September quarter as high inflation erodes consumer spending and high interest rates make borrowing for investments more costly. Group net profits fell 44 percent to 166 million in the second quarter ending September 2007, according […]
Fresh Face
Nov 02, 2007 (LBO) – Sri Lanka’s newest registered finance company, Swarnamahal Financial Services (SFS), kicked off this week offering a range of lending and deposit products. CEO Hafeez Rajudin says the company, a unit of the EAP group, will soon open two branches in Kandy and Colombo. In addition to hire purchase and leases, […]
Broad Highway
Nov 01, 2007 (LBO) – Dialog Broadband Networks, a unit of Dialog Telekom launched broadband services offering high download speeds at competitive prices which can potentially take-over the corporate leased line market for internet, officials said. The firm uses Worldwide Interoperability for Microwave Access (WiMax) to offer download speeds of up to 4Megabits per second […]
Blank Cheque
Nov 01, 2007 (LBO) – Tariff preferences available under European Union market access concessions are a ‘blank cheque’ for Sri Lankan exporters to penetrate sophisticated markets, trade officials said. Director of Commerce Kulatunga Perera said the EU’s Generalised System of Preferences Plus scheme will be reviewed in 2008 and that he was confident Sri Lanka […]
Sri Lanka want Aussies to fight for Warne-Murali Trophy
Oct 31, 2007 (AFP) – Sri Lanka Cricket on Wednesday formally suggested to Australia to mark their upcoming Test series with a trophy named after spin rivals Shane Warne and Muttiah Muralitharan.The country’s governing body said they had written to Cricket Australia that the winner of the two-Test series, opening in Brisbane on November 8, […]
Sri Lanka leisure group buys Maldives resort
Oct 31, 2006 (LBO) – Sri Lankan conglomerate Aitken Spence has announced that it has bought another island resort in the Maldivian archipelago where it is already one of the top leisure operators. Aitken Spence Hotels (International), a subsidiary of Aitken Spence Hotel Holdings, said it had acquired the Vadhoo Island Resort for 13 million […]
Mini Hydro
Oct 30, 2007 (LBO) – Sri Lankan mini hydro power company Vidullanka Tuesday said net profit for the first half ending September 30, 2007 was up nine percent year-on-year to 24.6 million rupees. Group revenue rose 13.5 percent to 83.5 million rupees over the same period, according to interim results sent to the Colombo bourse. […]
Murali likely to miss Test warm-up
BRISBANE, Australia, Oct 30, 2007 (AFP) – Star bowler Muttiah Muralitharan is expected to be rested for Sri Lanka’s final warm-up match ahead of next week’s first cricket Test against Australia at the Gabba here.Captain Mahela Jayawardene indicated the spin wizard would sit out the three-day game with Queensland starting on Friday after his marathon […]
Dialog Downturn
Oct 30, 2007 (LBO) – Consolidated net profits of Sri Lanka’s top celco Dialog Telekom fell 6.9 percent to 2.43 billion rupees, while revenues rose 29 percent to 8.55 billion in the September quarter, the firm’s latest results showed. Losses at its new pay TV division dragged down profits, while at company level profits from […]
Greener Pastures
Oct 30, 2007 (LBO) – Sri Lanka should encourage more workers to seek employment abroad as worker remittances will immensely help economic development while reducing the government’s burden of creating job opportunities, UN officials say. Despite two decades war Sri Lanka has been able to sustain better growth and development as a result of increasing […]
Smooth Ride
Oct 29, 2007 (LBO) – Chevron Lubricants Lanka said net profit for the September quarter shot up 78 percent to 325 million rupees from the same quarter a year ago. The firm, the Sri Lankan unit of the Chevron Texaco oil multinational, said sales were up eight percent to 2.1 billion rupees. “The top line […]
Sri Lanka Murali claims four wickets in drawn tour match
ADELAIDE, Australia, Oct 29, 2007 (AFP) – Sri Lankan spinner Muttiah Muralitharan claimed four wickets in a drawn-three day tour match against the Cricket Australia Chairman’s XI at Adelaide Oval here Monday ahead of the Test series against Australia.Muralitharan claims four wickets in drawn tour match Muralitharan, eight wickets short of Australian leg-spinner Shane Warne’s […]