Category:
Mixed Gains
Oct 31, 2012 (LBO) – Net profits of Sri Lanka’s Union Bank of Colombo rose 7.46 percent to 79.7 million rupees in the September 2012 quarter from a year earlier, with interest margins narrowing, interim accounts showed. The bank made 20 cents of earnings per share in the quarter based on 349 million shares in […]
‘s inflation eases to 8.9-pct in Oct
Oct 31, 2012 (LBO) – Consumer price inflation in Sri Lanka’s capital Colombo slowed to 8.9 percent in the 12 months to October from 9.1 percent a month earlier, data from the state debt office showed, as credit tightened after a balance of payments crisis. The statistics office said the Colombo Consumer Price Index, from […]
Sri Lanka economy to grow 7.0-pct in 2013 but risks emerge: RAM Ratings
Oct 31, 2012 (LBO) – Sri Lanka’s economic growth is likely to recover to 7. 0 percent in 2013 after slowing to 6.5 percent in 2012, helped by Chinese loans and domestic consumption, while new risks are emerging, RAM Ratings, a rating agency has said. A key regressive policy is the expropriation of citizens and […]
Sri Lanka stocks close down 0.55 pct
October 30, 2012 (LBO) – Sri Lanka stocks closed down 0.55 percent Tuesday with several blue chips losing ground. Dialog Axiata PLC slipped 0.20 cents to close at 7.80 rupees down 2.50 percent. Distilleries Company of Sri Lanka PLC closed at 142.00 rupees up 0.07 cents. Index heavy John Keells Holdings PLC slipped 1.30 rupees […]
Rating Action
Oct 30, 2012 (LBO) – Commercial Leasing and Finance Company Limited, a unit of Sri Lanka’s LOLC group has been rated (SL)A- with a stable outlook by ICRA Lanka, a rating agency. ICRA has also rated Lanka Orix Finance Plc, another unit (SL) A- in August. The parent holding company was also rated (SL) A […]
Sri Lanka Bogawantalawa Plantations returns to profit
Oct 30, 2012 (LBO) – Sri Lanka’s Bogawantalawa Plantations, which has interests in tea and timber said it made profits of 88.9 million rupees in the September 2012 quarter recovering from a loss of 127 million rupees a year earlier. Last year’s losses were partly caused by steep increase in gratuity liability following an increase […]
Sri Lanka hosts pepper talks
Oct 30, 2012 (LBO) – Sri Lanka will host the annual meeting of an inter-governmental organization of pepper producing countries this week, where production and export issues will be discussed, including a new set of manufacturing guidelines. Once approved, they will be applicable to all the member countries who have faced complaints from buyers about […]
Tiger Airways ups Sri Lanka flights to four
Oct 30, 2012 (LBO) – Singapore-based Tiger Airways, a low cost has increased flights to Colombo to four starting from the last week of October, after launching with three weekly frequencies in June 2012. From October 28, the airline also increased frequencies to Hong Kong (up to 26), Taipei (up to 09), Bangkok (39), Guangzhou, […]
Lube Sentiment
Oct 30, 2012 (LBO) – Sri Lanka’s Chevron Lubriants unit said profits fell 13 percent to 521 million rupees in the September 2012 quarter from a year earlier poor market sentiment and a price hike due to currency depreciation hurting consumption. Revenues grew by a marginal 2.9 percent to 3.0 billion rupees from a year […]
Sri Lanka private credit slows; state borrowings surge in Aug
Oct 30, 2012 (LBO) – Sri Lanka’s loans from commercial banks fell to 14.5 billion rupees in August 2012 from 35.7 billion rupees a month year as state borrowings from the banking system surged to 35.0 billion rupees, official data shows. In July there was a net repayment of state enterprise and central government bank […]
Khurshid named foreign minister in India reshuffle
NEW DELHI, Oct 28, 2012 (AFP) – Indian Prime Minister Manmohan Singh appointed Salman Khurshid as his new foreign minister as he brought seven new faces into cabinet Sunday in the biggest reshuffle since his 2009 re-election. Khurshid, 59, replaces the 80-year-old S. M. Krishna as the top diplomat and his post as the law […]
Sri Lanka Asia Pacific forum to explore trade boosting tools
Oct 29, 2012 (LBO) – A trade forum in Sri Lanka with the participation of 30 countries in Asia and the Pacific starting will identify priority areas for integration, and new tools and services to increase the efficiency of cross-border transactions, its organizers said. The Asia Pacific Trade Facilitation Forum 2012 (APTFF) on the theme […]