Category: Industry
‘s legal threat
NEW DELHI, Aug 16, 2007 (AFP) – Former India captain Bishan Bedi has rubbished Muttiah Muralitharan’s demand for monetary damages for suggesting the Sri Lankan off-spinner was a cheat, reports said on Thursday.“I am a free man and I have a right to express my opinion,” Bedi, 60, was quoted as saying by the Times […]
Mobile Action
August 15, 2007 (LBO) – Bharti Airtel was aiming to launch commercial operations in Sri Lanka early next year investing 200 million dollars in the island, the Indian telecom giant said Wednesday. About 60 percent of Sri Lanka’s mobile market is controlled by Dialog Telekom, a unit of Telekom Malaysia. The rest is shared between […]
Sri Lanka tourist arrivals down 20% in July
August 15, 2007 (LBO) – Foreign visitors to Sri Lanka have fallen 20 percent in July with arrivals in the first seven months falling 24 percent, the country’s tourist promotion office said. Sri Lanka has been slapped by travel advisories while a worsening conflict and reports of human rights violations and killings of aid workers […]
Swapping Risk
August 14, 2007 (LBO) – The Ceylon Petroleum Corporation (CPC), Sri Lanka’s state-owned petroleum firm has used a leveraged swap to hedge a small part of its oil imports during the past month with good results so far, officials said. Diesel spot prices had moved to around 84 dollars a barrel. CPC is held back […]
Four Ps
August 14, 2007 (LBO) – Marketing qualifications such as those offered by the Chartered Institute of Marketing offer good opportunities for job seekers in an expanding economy like Sri Lanka, a senior marketer said. Shiraz Latiff, chairman of the Chartered Institute of Marketing Sri Lanka Region, said that with only limited opportunities available to enter […]
No Call
August 14, 2007 (LBO) – The Finance Company (TFC), the flagship finance company of Sri Lanka’s Ceylinco group said it was putting off a cash call due to depressed market conditions. The firm’s company secretary P S Watson said in a stock exchange filing that the company had put off the cash for next year […]
Moderate Safety
August 14, 2007 (LBO) – Lanka Rating Agency (LRA) has confirmed the long-term rating of Sri Lanka’s LB Finance Ltd at BBB3, with a stable outlook. The short-term rating has also been confirmed at L3 An LRA statement said the ratings were based on LB Finance’s “improving financial performance and adequate asset quality” but were […]
Banking Profit
Aug 14, 2007 (LBO) – Sampath Bank said Tuesday group after tax profit rose 22.5 percent to 329.6 million rupees for the quarter ending June 30, 2007. The group’s income was up 42 percent to 4.3 billion rupees from 3.0 billion, according to its results released to the stock exchange. The group’s interest income rose […]
Car Drive
August 13, 2007 (LBO) – HNB Assurance net profit after tax rose 17 percent to 10.9 million rupees for the second quarter ended June 2007 with revenue from motor insurance growing strongly. Gross written premium revenue for the period was up 32 percent to 322 million rupees, according to interim results. In the six months […]
Chock Full
August 13, 2007 (LBO) – Congestion in Asian ports like Colombo is affecting cargo flows to the United States and ship schedules with the squeeze expected to continue into the next year, a body representing major shipping lines has said. Forward bookings suggest that the trend will continue into August, and retailers forecasts record eastbound […]
Sri Lanka Tourist Hotels Association elects Cooray as president
August 12, 2007 (LBO) – The Tourist Hotels Association of Sri Lanka has elected as its president Hiran Cooray of Jetwing Hotels, a tour operator with a chain of hotels that’s also promoting eco-tourism in a big way. Four vice presidents were also elected at the association’s annual general meeting representing different segments of the […]
Living Free
August 12, 2007 (LBO) – Sri Lanka’s government doctors have ordered more than two hundred luxury sports utility vehicles as a scheme to give duty-slashed vehicles to state workers gets under way. So far 1,200 applications for vehicles have been processed in a scheme to give 25,000 duty slashed vehicles to senior government workers, ETV’s […]