Category:
Increased Bookings
May 29, 2012 (LBO) –Sri Lanka’s e-Channelling Plc, which runs a booking engine for doctors, said its profits rose nine-fold to 73.88 million rupees in the year to March 2012 from a year earlier, on the back of higher revenues. The firm reported earnings of 60-cents per share 2012. The stock closed down 10-cents to […]
‘s mini hydro firm hit by drought
May 29, 2012 (LBO) – Sri Lanka’s Vallibel Power Erathna Plc, a mini hydro firm, said it lost 13. 04 million rupees in the March 2012 quarter as revenues fell amid drought and a tariff paid by the state power utility also decreased. The firm reported losses of 2 cents per share for the quarter. […]
Sri Lanka kicks off flood control program in Colombo
May 29, 2012 (LBO) – Sri Lanka has begun a five-year 223 million dollar programme to stop flooding and improve storm water drainage in the capital Colombo, which has been worsened by rapid filling of wetlands in the city. Partly funded by the World Bank, officials plan to expand canals, water retention tanks and related […]
Sri Lanka stocks down 1.5-pct
May 28, 2012 (LBO) – Sri Lankan stock prices continued to tumble, with the main indice breaching the psychological 5,000 barrier, brokers said. On Monday, the broader All Share Price Index shed 1.49 percent or 74.66 points to close at 4,935.01m while the liquid Milanka Price Index fell 1. 86 percent or 84.57 points to […]
Farm Lending
May 28, 2012 (LBO) – Sri Lanka’s Treasury secretary P B Jayasundera said banks should lend more to agriculture and slammed lenders for financing too much trade and consumption activities. He said only about 3.0 percent of total credit is given to the tea sector, about 0.5 percent to fisheries. “Instead money goes to consumption […]
Financial Stability
May 28, 2012 (LBO) – Sri Lanka’s Central Bank said, The Finance Company, a firm that is being bailed out under regulatory supervision is stable and expressed confidence that it will return to profits. The Central Bank said The Finance has increased its deposits by 5.36 percent and its lending portfolio by 11 percent in […]
Japan funds Sri Lankan civil servants Masters studies
May 28, 2012 (LBO) – Sri Lanka has struck a deal that allows 15 state employees a chance to pursue their Masters studies in Japan, a statement said. Under the Japan International Cooperation Agency or JICA, some 211 million yen or 340 million rupees will be spent on this scholarship programme, JICA said Monday. The […]
‘s tallest tower for US$250mn by India property group
May 28, 2012 (LBO) – Indocean Developers (Pvt) Ltd, a company backed by India’s South City Projects (Kolkata) Ltd, will begin work in September on a 400-apartment tower that will have a project value of 250 million US dollars, officials said. Director, Jugal Khetawat said the tower will have 69 stories with two basements, making […]
Cloud Computing
May 27, 2012 (LBO) – Adopting ‘cloud’ technology where computers are knitted together to process and deliver services as demand fluctuates, can help Sri Lankan business and the state to serve customers faster and more cheaply, officials said. Sri Lanka’s government is also pushing the use of information communications technology to provide services to the […]
Fast Growth
May 26, 2012 (LBO) – Sri Lanka DFCC Vardhana Bank’s profits in the March 2012 quarter rose 161 percent to 150 million rupees from a year earlier, helped by higher business volumes and provision reversals, interim accounts showed. The bank’s gross non-performing loan ratio grew to 4.54 percent by end March from 4.35 percent in […]
Sri Lanka clears over 90-pct of mined area
May 25, 2012 (LBO) – Sri Lanka has cleared over 90 percent of the area where land mines believed to have been laid during a 30-year civil war which ended in 2009, the island’s finance ministry said. The finance ministry additional human and financial resources are needed to make Sri Lanka mine free by 2020. […]
Boat Park
May 25, 2012 (LBO) – Sri Lanka is seeking foreign investors to build its first marina on the south coast as boating enthusiasts are drawn to the island amid a post-war tourism boom, officials said. Sarath Kumara De Silva, chairman of the Cey-Nor Foundation, a state-owned boat building outfit, said a marina is planned in […]