Category:
Bank Numbers
May 16, 2011 (LBO) – Sri Lanka’s National Development Bank group said March 2011 quarter net profit doubled to 605 million rupees from a year ago as lending and deposits grew and it contained bad loans. Interest income fell two percent to 2.5 billion rupees while interest expenses fell four percent to 1.4 billion rupees […]
Easier Borrowing
May 16, 2011 (LBO) – Sri Lankan banks will soon be able to lend against moveable property with a new initiative by the Credit Information Bureau (CRIB), an official said. The CRIB plans to set up a ‘secured transaction registry’ from June 01, 2011 that will enable registration of moveable assets against which banks can […]
Sri Lanka Kelani Valley March net up 120-pct on high rubber prices
May 16, 2011 (LBO) – High rubber prices have helped Sri Lanka’s Kelani Valley Plantations increase March 2011 quarter net profit by 120 percent to 246 million rupees from a year ago. Earnings per share for the March 2011 quarter were 7. 24 rupees compared with 3.29 rupees the previous year. Sales of the firm, […]
Health Business
May 16, 2011 (LBO) – Lanka Hospitals, formerly part of the Indian Apollo chain and now par-owned by India’s Fortis group, said March 2011 quarter net profit rose 81 percent to 65.2 million rupees from a year ago. The Lanka Hospitals Corporation said in a stock exchange filing sales for the quarter rose 31 percent […]
‘s high and mighty
NEW DELHI, May 16, 2011 (AFP) – India’s notorious Tihar Jail in New Delhi is currently home to a clutch of VIP inmates suspected of corruption as police win rare permission to go after the “big fish” in recent cases. The forbidding complex, home to militants and murderers, offers little in terms of comfort for […]
Sri Lanka holds policy interest rates
May 16, 2011 (LBO) – Sri Lanka’s central bank said it is holding policy rates steady as last month’s hike in the reserve ratio was effective in draining excess liquidity and inflation was likely to fall from next month. Inflation, as measured by the year-on-year change in Colombo Consumers’ Price Index (CCPI) hit 9.8 percent […]
India hikes petrol price to offset crude costs
NEW DELHI, May 14, 2011 (AFP) – India’s state-owned fuel firms on Saturday hiked petrol prices by nearly nine percent to help stem revenue losses from a rise crude prices, a record rise that will fuel stubbornly high inflation. The increase marked the eighth rise in petrol prices since India’s government last June deregulated petrol […]
Sri Lanka hotels mull rupee pricing to avoid exchange rate risk
May 14, 2011 (LBO) – A volatile rupee against the Sterling Pound and Euro has made forward pricing a risky business for Sri Lanka’s tourism sector which wants to price hotels in the local currency to avoid exchange rate risk, a senior executive from John Keells Holdings said. However despite economic problems in the PIG […]
Australia to send newest asylum seekers offshore
SYDNEY, May 14, 2011 (AFP) – The latest boatload of suspected asylum seekers to arrive in Australia will be sent to another country for processing, the government said Saturday as it implements its controversial new policy. Immigration Minister Chris Bowen would not say where the 32 newest arrivals who landed in Australian waters late Friday […]
Sri Lanka shares up 0.3-pct
May 13, 2011 (LBO) – Sri Lankan stocks closed mixed in dull trade with the market with Nation Lanka Finance the highest contributor to the day’s turnover, brokers said. The main All Share Price Index closed at 7,319. 94 up 0.26 percent (19.12 points) while the more liquid Milanka index down 0. 11 percent (7.33 […]
Ship Building
May 13, 2011 (LBO) – Sri Lankan ship builder Colombo Dockyard said March 2011 quarter net profit rose 78. 4 percent to 467 million rupees from a year ago with gains from both ship building and repair. The Dockyard filing said that with effect from January 01, 2011, that it has recognised additional revenue of […]
Bank Numbers
May 13, 2011 (LBO) – Bank of Ceylon, Sri Lanka’s biggest state-owned lender, said March 2011 quarter net profit shot up 163. 1 percent to almost 2.2 billion rupees from a year ago with interest income rising much faster than interest costs. Basic earnings per share rose 163.1 percent to 1,749 rupees, the bank’s interim […]