Category:
Fresh Capital
May 11, 2011 (LBO) – Sri Lanka’s Hatton National Bank has changed plans to raise fresh capital by dropping a private placement and increasing a rights issue for existing shareholders, a stock exchange filing said. The amount of funds to be raised, to strengthen its capital and balance sheet and to support growth, has been […]
Sri Lanka Three Acre March net up despite price cuts
May 11, 2011 (LBO) – Sri Lanka’s Three Acre Farms said March 2011 quarter group net profit was 41 million rupees compared with just half-a-million rupees the year before although excess stocks forced it to cut prices. But there have been excess stocks in recent months after the government allowed chicken imports in the run […]
India to hire 10,000 teachers from Taiwan
TAIPEI, May 10, 2011 (AFP) – India plans to recruit up to 10,000 teachers from Taiwan to meet growing demand for Chinese language classes, Taiwan’s education ministry said Tuesday. Kapil Sibal, India’s minister of human resources, made the proposal during a meeting with Taiwan’s education minister Wu Ching-ji in India last week, an education official […]
Bangladesh mulls clothes factories in jails
DHAKA, May 11, 2011 (AFP) – Bangladesh’s prison authorities on Wednesday announced plans to set up garment factories in the country’s overcrowded jails in a bid to help convicts acquire skills and make money. The project, which has not yet been approved by the government, aims to set up factories first in major prisons before […]
Sri Lanka, Australia lodge 2018 bid books
KUALA LUMPUR, May 11, 2011 (AFP) – Australia’s Gold Coast and Sri Lanka’s Hambantota lodged their bid books Wednesday in the contest to host the 2018 Commonwealth Games. The two cities, which are the only contenders for the right to hold the event, both vowed to spend billions of dollars to build new accommodation, hotels […]
Sri Lanka stocks close down 0.5-pct
May 10, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with brokers saying speculative trade was still going strong despite regulatory curbs on unusual price movements. The main All Share Price Index closed at 7,339.65, down 0.52 percent (38,21 points) while the more liquid Milanka index was down 0.29 percent (19.59 points) to close […]
Money Transfer
May 10, 2011 (LBO) – ICICI Bank, India’s largest private sector bank, has tied up with Sri Lanka’s Sampath Bank to launch an online cross-border money transfer facility. The ‘Money2SriLanka’ facility (‘M2SL’) is a web-based online remittance platform which facilitates the sending of remittances from abroad to beneficiaries in Sri Lanka, a statement said. This […]
Bank Numbers
May 10, 2011 (LBO) – Sri Lanka’s Union Bank said net profit rose 212 percent to 60 million rupees in the March 2011 quarter from a year ago with sharp gains in both interest and non-interest income. Interest income rose 7.5 percent to 458 million rupees while interest expenses fell 22 percent to 221 million […]
Finance Listing
May 10, 2011 (LBO) – Bimputh Lanka Investments, a registered finance company in Sri Lanka, has been given regulatory approval to list on the Colombo stock exchange. The firm is to list 20.2 million ordinary voting shares on the CSE’s ‘Diri Savi’ second board through the ‘introduction’ process which does not require companies to make […]
Sri Lanka Grain Elevators March net up 64-pct
May 10, 2011 (LBO) – Sri Lankan poultry firm Ceylon Grain Elevators said March 2011 quarter net profit rose 64 percent to 94 million rupees from a year ago as gains from feed milling helped overcome high raw material prices. Sales grew 26 percent to 2.3 billion rupees during the quarter with earnings per share […]
Telco Trends
May 10, 2011 (LBO) – Sri Lanka Telecom’s March 2011 quarter net profit rose 114 percent to 1,295 million rupees from a year ago with sharp gains from value-added services and the traditional fixed line business. Group sales rose two percent to 12. 4 billion rupees in the quarter ending March 31, 2011, according to […]
Sri Lanka Vallibel Power March net up 57-pct
May 10, 2011 (LBO) – Vallibel Power Erathna, a Sri Lankan mini-hydro power firm, said March 2011 quarter net profit rose 57 percent to 44. 6 million rupees from a year ago. Annual sales rose 22 percent to 534 million rupees while basic earnings per share for the year were 56 cents compared with 55 […]