Category:
Sri Lanka stocks close up 0.2-pct
May 15, 2013 (LBO) – Sri Lanka’s stock closed up 0.23 percent on Wednesday, ending a two days of losses, with sentiment helped by falling Treasuries yields amid strong foreign buying into motor stocks, brokers said. The benchmark Colombo All Share Index closed 14.53 points higher at 6,221.12 up 0.23 percent and the S&P SL […]
Toot
May 15, 2013 (LBO) – Trains have begun operating on the segment of a 252 kilometre railway track system in Sri Lanka’s north rebuilt with Indian aid which was destroyed 23 years ago during the island’s separatist conflict.The rebuilt track from Madawachchiya to Madhu Road on a track leading to Talaimnnar in the northeast was […]
Positive Numbers
May 15, 2013 (LBO) – Profits at Sri Lanka’s Nations Trust Bank rose 15 percent to 501 million rupees in the March 2013 quarter helped by fee and fund based income, interim accounts show.The bank reported earnings of 2.18 rupees per share. NTB group’s interest income rose 35 percent to 4.35 billion rupees and interest […]
CapitalGains
May 15, 2013 (LBO) – Profits at Sri Lanka’s NDB group fell 53 percent to 499 million rupees in the March 2013 quarter, from a year earlier, on higher operating expenses and provisioning as interest costs rose, interim accounts showed.The group reported earnings 3.09 rupees per share. Interest income rose 34 percent to 4.9 billion […]
‘s Crown applies to invest in Sri Lanka: minister
May 15, 2013 (LBO) – Melbourne based Crown group has submitted an investment application to Sri Lanka which is pending approval, investment promotion minister Lakshman Abeywardena said.. Crown, an entertainment and gaming group has been planning a 350 million US dollar mixed development in Sri Lanka’s capital Colombo, according to reports. Sri Lanka has also […]
Sri Lanka in aquaculture drive with Vietnam
May 15, 2013 (LBO) – Sri Lanka is embarking on an aquaculture drive with technical support from Vietnam starting with culturing sea cucumber, seaweed and lobster fattening and also help devise a master plan, officials said.A team from Vietnam’s Research Institute for Aquaculture Number 3 began working with Sri Lanka’s National Aquaculture Development Authority (NAQDA) […]
E-Forum
May 15, 2013 (LBO) – International and local experts will discuss the future of e-ecommerce which is now growing very fast in the Asia-Pacific region with growing internet penetration and legal reforms that help internet transactions, at a forum in Colombo. Sri Lanka Association of Software and Service Companies said a ‘CXO Briefing’ on May […]
NormalProfits
May 15, 2013 (LBO) – Profits at Sri Lanka Telecom group the island’s sole wireline operator which also has mobile services rose 226 percent to 1.6 billion rupees recovering from forex losses suffered last year.The group reported earnings of 89 cents per share. Revenues rose 5 percent to 14.4 billion rupees in the quarter and […]
Seven killed in floods, mudslides in Sri Lanka
COLOMBO, May 15, 2013 (AFP) – At least seven people have been killed and two are missing in floods and mudslides following heavy rain across Sri Lanka, the disaster management centre said Wednesday.Sri Lanka depends on monsoon rains for irrigation and power generation, but the seasonal downpours frequently cause deaths along with damage to property.A […]
‘s Ceylinco Insurance net up 55-pct
May 15, 2013 (LBO) – Sri Lanka’s Ceylinco Insurance, the island’s largest insurer by written premium said net profits rose 55 percent to 326 million rupees in the March 2013 quarter, from a year earlier.The firm reported earnings of 12.37 rupees per share. Group gross written premium rose 10 percent to 6.0 billion rupees in […]
‘s Krrish to pay up
May 15, 2013 (LBO) – Sri Lanka has given India’s Krrish group till May 31 to complete their payments charging 12 percent interest for an extension, investment promotion minister Lakshman Abeywardena said.Out of 4,995 million rupees due for land leased for a mixed development project, the company had so far paid 4,049 million rupees or […]
‘s economic exuberance wanes
COLOMBO, May 15, 2013 (AFP) – After crushing Tamil rebels four years ago Sri Lanka expected to become South Asia’s tiger economy, but exuberance has given way to mediocre growth and fears of more trouble ahead.The country was almost broke when troops defeated separatist Tamil Tigers in May 2009, but Colombo predicted that ending 37 […]