Category:
Harbour Traffic
Aug 02, 2011 (LBO) – The Sri Lanka Ports Authority has started work on widening a bridge inside Colombo port to ease traffic congestion within the harbour caused by an influx of cargo as trade recovers after a war. We have fulfilled a long awaited requirement of purchasing new operation equipment. Currently, 03 new gantry […]
Bow Wave
Aug 02, 2011 (LBO) – A newly started ferry service between India and Sri Lanka is becoming more popular and the group which operates the ferry from the Indian side, Flemingo Liners plans to add more services, an official said. Some passengers have also started to make use of a facility to take their cars […]
Solid Franchise
Aug 02, 2011 (LBO) – Fitch Ratings Lanka has confirmed Commercial Bank’s (CB) national long-term rating at ‘AA(lka)’ with a stable outlook and also confirmed its subordinated debentures at ‘AA-(lka)’. “CB’s ratings reflect its solid domestic franchise, sound profitability and its strong capital position,” a statement said. Fitch noted that the bank has arrested the […]
Sri Lanka 400-room resort proposal by Four Seasons: minister
Aug 02, 2011 (LBO) – Canada based Four Seasons leisure group has proposed building a 400-room resort on an islet off Kalpitiya in Sri Lanka’s north western coast, deputy economic development minister Lakshman Abeywardene said. A team from Four Seasons had visited the site on July 27. The islands owned by the state are offered […]
Sri Lanka accused of war report whitewash
August 2, 2011 (AFP) – Human rights campaigners on Tuesday accused Sri Lanka of whitewashing military abuses in its official report on the island’s decades-long ethnic war, which ended in May 2009. A defence ministry report released on Monday admitted for the first time that civilians may have been killed during the war, though the […]
Sri Lanka consumer durables sales up
Aug 02, 2011 (LBO) – Singer Sri Lanka, a top consumer durables retailer said profits rose 79.9 percent in the June 2011 quarter from a year earlier as sales grew rapidly after the state cut taxes on electrical home appliances. The firm reported earnings per share of 2. 34 rupees for the quarter. Revenues in […]
Fuel Test
Aug 02, 2011 (LBO) – Petroleum products imported into Sri Lanka are unloaded and distributed only after they are tested and meet the required standards, a government statement said. “Petrol, diesel, and kerosene are unloaded from the tanker only after carrying out tests and verified by independent surveyors prior to distribution,” Ceylon Petroleum Storage Terminals […]
Sri Lanka stocks lose steam
Aug 01, 2011 (LBO) – Sri Lanka’s share market lost steam Monday, closing slightly higher with interest in poultry stocks after a roller-coaster ride following last week’s rally on expectations the regulator would relax credit rules, brokers said. The main All Share Price Index closed at 6,854.14, up 0.13 percent (8.76 points) while the more […]
Port Call
Aug 01, 2011 (LBO) – Singapore-based carrier Pacific International Lines (PIL) has added Sri Lanka’s Colombo port on its East Africa – Far East Service, with a weekly frequency calling on Fridays. The new service connects the Far East and East Africa and transshipment cargo from the Indian sub-continent, a Sri Lanka Ports Authority statement […]
Financial Strength
Aug 01, 2011 (LBO) – Fitch Ratings Lanka has confirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) national long-term rating at ‘AAA(lka)’ with a stable outlook. “SCBSL’s rating is at the highest end of the national rating scale and reflects the financial strength of Standard Chartered Bank PLC (SCB),” a statement said. “The rating is […]
Leasing Level
Aug 01, 2011 (LBO) – Sri Lanka Citizens Development Business Finance’s net profit shot up 132 percent to 80 million rupees in the June 2011 quarter from a year ago, according to a Colombo stock exchange filing. Interim accounts showed sharp increases in interest income and earnings from leasing and hire purchase amid loan growth […]
Alternative Finance
Aug 01, 2011 (LBO) – Amana Bank, Sri Lanka’s first licensed commercial bank to operate under Islamic ‘Shariah’ laws has opened its doors in Colombo and fourteen other branches, the firm said. The bank has 14 branches with its main office in Colombo 03 and other branches in Colombo’s Pettah commercial area, Kandy, Kurunegala, Akurana, […]