Category:
Fashion Trend
Nov 06, 2012 (LBO) – Sri Lanka’s Odel Plc, a 44 percent owned by Parkson Retail Asia said profits fell 15 percent to 104 million rupees, from a year earlier as a higher interest bill hit the bottom line though revenues continued to grow. The fashion retailer reported earnings of 72 cents per share for […]
Heist Fine
COLOMBO, Nov 5, 2012 (AFP) – A Chinese man who swallowed a fake stone in a daring bluff that allowed an accomplice to get away with a real diamond pleaded guilty Monday to aiding theft and was given a fine and two-year suspended jail term. Colombo chief magistrate Rashmi Singappuli ordered the 32-year-old man to […]
‘s begging wild elephants: making it safer for man and animal
Nov 06, 2012 (LBO) – Feeding of begging wild elephants in Sri Lanka’s Udawalawe National Park, can be made safer for both man and animal if it is formalized as a supervised process, where fees are charged, a wildlife enthusiast has suggested. S M S Senadhipathi, a wildlife enthusiast says though elephants lining up for […]
Sri Lanka knitted fabric maker cuts losses
Nov 06, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, knitted fabric marker said it has cut losses and improved gross margins after going through a restructuring process over the past year. The firm which files US dollar denominated accounts and statements translated into rupees, lost 43 million rupees in the September 2012 […]
Sri Lanka hydro capacity up to 58-pct – Update
Nov 06, 2012 (LBO) – Storage at Sri Lanka’s reservoirs have risen to 58 percent of capacity or enough to generate 738 million units of electricity during the first week of November from 22 percent a month earlier, official data shows. On November 04, state-run Ceylon Electricity Board generated 61.4 percent of the daily energy […]
‘ group raises budget issues, calls for better debate
Nov 06, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has asked for informed debate on the budget by parliamentarians instead of a slanging match, and has asked the administration to prioritize expenses and pay attention to a growing debt burden. The full statement is reproduced below: A PLEA FOR A BIPARTISAN BUDGET […]
Sri Lanka DFCC Bank net up 54-pct in Sept
Nov 05, 2012 (LBO) – Sri Lanka’s DFCC Bank said group profits rose 55 percent to 819 million rupees in the September 2012 quarter from a year earlier, and its commercial banking unit hit regulatory ceiling on credit growth. DFCC group performing loans grew 7.5 percent to 90.9 billion rupees from March, but chief executive […]
Sri Lanka stocks close 0.13 pct higher
November 05, 2012 (LBO) – Sri Lanka stocks closed up 0.13 percent Monday posting a low turnover. AVIVA NDB Insurance PLC gained 5.00 rupees to close at 370.00 rupees up 1.37 percent. Colombo Dockyard PLC gained 0.10 cents to close at 217.70 rupees up 0.05 percent. Dialog Axiata PLC gained 0.20 cents to close at […]
Half Astern
Nov 05, 2012 (LBO) – Ships calling at Sri Lanka’s ports fell by 38 to 350 in August 2012 from a year earlier and domestic container handling fell sharply as the economy slowed amid a trade contraction, but transshipment volumes were steady, official data shows. In August 83,974 containers (twenty foot equivalent units) were handled […]
Slower Growth
Nov 05, 2012 (LBO) – Profits at Sri Lanka’s Pan Asia Bank fell 6 percent to 195 million rupees in the September 2012 quarter from a year earlier, amid flat net interest income growth, interim accounts showed. Deposits grew 18 percent to 41. 8 billion rupees. Bad loans grew 7 percent to 2.7 billion rupees […]
Legal Protest
Nov 5, 2012 (AFP) – Hundreds of Sri Lankan lawyers took to the streets of Colombo on Monday protesting against a government move to impeach the country’s top judge in an increasingly bitter dispute. Lawyers marched from the Supreme Court to the city centre denouncing efforts by President Mahinda Rajapakse’s United People’s Freedom Alliance party […]
Global Spread
Nov 05, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange group said its automated trading system (ATS) has replaced a manual open outcry system at the stock exchange in Botswana. MillenniumIT says its software is now live at over 30 customer sites and securities exchanges around the world. Tony […]