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Sri Lanka consumer durables group profits plunge in December
Mar 04, 2014 (LBO) – Profits at Singer Sri Lanka Plc, a consumer durables retailer, fell 71 percent to 93 million rupees in the December 2013 quarter from a year earlier, but sales are no longer shrinking, the firm said. The group reported earnings of 74 cents per share. For the full year to December […]
Sri Lanka stocks down 0.4-pct, rupee steady
Mar 03, 2014 (LBO) – Sri Lanka stocks slipped 0.4 percent Monday dragged down by index heavy John Keells Holdings and Dialog, while the rupee ended stronger against the greenback, dealers and brokers said. The benchmark Colombo All Share Index fell 26.3 points to 5,914.01 points and the S&P SL20 Index fell 9.77 points to […]
Merger Plan
Mar 03, 2014 (LBO) – Merchant Bank of Sri Lanka (MBSL), a unit of state-run Bank of Ceylon said it was merging with two subsidiaries and become a finance company, under a regulatory directive. Instead, all three units will merge and operate as a licensed finance company. MBSL will merge with MBSL Savings Bank Limited […]
Credit Trend
Mar 03, 2014 (LBO) – Sri Lanka’s credit from commercial banks to state enterprises surged to 57 billion rupee in December 2013 ending four months of net pay downs of debt official data showed as a drought worsened in the country hitting hydro power. The subsidy deception hurts the poor most – who consume the […]
Lahore longs for international cricket five years after attack
LAHORE, March 3, 2014 (AFP) – For more than fifty years, Haji Basheer has prepared the pitch at Lahore’s Gaddafi Stadium and witnessed some of cricket’s biggest moments including two World Cups.The 74-year-old has been serving at the ground since it hosted the first match in November 1959 but a terrorist attack on the Sri […]
Sri Lanka inflation at 2.5-pct in February by citizen index
Mar 03, 2014 (LBO) – Sri Lanka’s inflation in February 2014 was measured at 2.5 percent by an index compiled by private citizens, coming below the 4.2 percent indicated by the state statistics office.Sri Lanka’s credit growth has been weak in the past year and the Central Bank has also been sterilizing foreign exchange purchases. […]
Sri Lanka killer kidney disease linked to Monsanto weedicide, phosphate fertilizer: study
Mar 02, 2014 (LBO) – A herbicide developed by US-based Monsanto and contaminated fertilizer may be behind an epidemic of mystery kidney disease in Sri Lanka and South America where rice and sugarcane is grown, a research study has suggested.The paper by Channa Jayasumana (Rajarata University, Sri Lanka), Sarath Gunatilake (California State University, USA) and […]
Sky-fi
SINGAPORE, March 2, 2014 (AFP) – Wifi in aircraft, hobbled in the past by slow speeds, could soon take off as new technology enables passengers to surf the web as if they were in a coffee shop, Internet executives say. More airlines are rolling out new and improved services thanks to satellite technology, industry leaders […]
Asset Check
Mar 01, 2014 (LBO) – Books of Sri Lanka’s banks and finance companies are being evaluated by audit firms as they are moving towards mergers under a regulatory push, the Central Bank said. The ministry of finance and inland revenue department have agreed to deal with tax issues that expected in the consolidating lenders, the […]
Sangakkara steers Sri Lanka to dramatic win over India
FATULLAH, February 28, 2014 (AFP) – Kumar Sangakkara hit a brilliant 103 as Sri Lanka survived anxious moments to overcome India by two wickets in a thrilling last-over finish Friday, securing their second win in the Asia Cup.The victory was set up by spinners Ajantha Mendis and Sachithra Senanayake, who shared seven wickets to restrict […]
New mass grave found in Sri Lanka ahead of UN rights meet
COLOMBO, March 1, 2014 (AFP) – Another unmarked mass grave has been found in Sri Lanka’s former war zone, police said Saturday, as Colombo braced for a US-led censure resolution at the UN rights forum next week.A family on Friday stumbled upon nine bodies buried in the garden of their home in the district of […]
” with rights resolution
COLOMBO, February 28, 2014 (AFP) – Sri Lanka’s president on Friday acknowledged his discomfort at the prospect of being censured by the UN’s top rights body, as he accused Washington of treating Colombo like Muhammad Ali’s “punching bag”.Although the exact text of the resolution is still not known, the US has said it will file […]