Category:
Industrial Port
Feb 28, 2011 (LBO) – Investors who bid to set up industries in a new port in southern Sri Lanka are to start building their factories in March, Sri Lanka Ports Authority chairman Priyath Wickrama said. He said 23 proposals of 27 received for the deep-water Hambantota port on the south coast had qualified. “Three […]
Double Profits
LONDON, February 28, 2011 (AFP) – Banking giant HSBC said on Monday that its net profit more than doubled to $13.16 billion (9.56 billion euros) last year as bad debts plunged to the lowest level since 2006. HSBC said in a results statement that pre-tax profits soared by nearly 170 percent to billion in 2010, […]
Bank Rating
Feb 28, 2011 (LBO) – RAM Ratings Lanka has assigned a long-term BBB rating to Union Bank with a stable outlook and a short-term rating of P3, a statement said. “The ratings are premised on the bank’s healthy capitalisation as well as adequate funding and liquidity positions,” the rating agency said. “On the other hand, […]
Bank Status
Feb 28, 2011 (LBO) – Sri Laka’s Seylan Bank, under regulatory re-structuring reported a 387. 2 million rupee profit for the December quarter from a loss of 30. 4 million a year earlier, helped by foreign exchange profits and cost controls. Full year profits rose 176 percent to 1,207 million rupees. The group reported earnings […]
Bank Numbers
Feb 28, 2011 (LBO) – Sri Lanka’s Hatton National Bank said group net profit for the December 2010 quarter was up two percent to 1. 87 billion rupees from a year ago with sharp gains in fee income. A stock exchange filing said HNB’s group net profit for the full financial year ending December 31, […]
India to raise $9 bn in privatisations: minister
NEW DELHI, February 28, 2011 (AFP) – India’s government intends to raise 400 billion rupees ( billion) by part-privatising state-owned companies in the next fiscal year, Finance Minister Pranab Mukherjee said Monday. Part-privatisations of miner Manganese Ore Ltd and electricity transmission group Power Grid were also a success, but earlier issues by state-run iron-ore miner […]
Sri Lanka float plane in World Cup cricket flights
Feb 28, 2011 (LBO) – SriLankan Airlines’ says it has started a float plane service to Kandy to cover World Cup cricket matches at the Pallekelle grounds in Kandy in central Sri Lanka. The airline said its flights to two matches in Hambantota in the south had been sold out. The service will run from […]
Sri Lanka loan plan to be revamped fast: World Bank
Feb 28, 2011 (LBO) – Sri Lanka’s World Bank office will accelerate its current programs start working on a new loan plan that will involve larger projects in fewer sectors at more market based rates, an official said. Elements of the current program dates back from before the end of a 30-year war in 2009. […]
Sri Lanka inflation accelerates to 7.8-pct in February 2011
Feb 28, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to 7.8 percent in the 12-months to February from a year earlier, up from 6. 9 percent in January the government’s statistics office said. Prices rose 1.2 percent in the month of February alone continuing a trend seen in September. In September […]
Sri Lanka central banker meet mulls stimulus exit strategies
Feb 28, 2011 (LBO) – South and South East Asian central bank chiefs who met in Sri Lanka had discussed ways to exit deficit spending and loose monetary policy adopted during a global downturn, amid rising inflation and property bubbles. Several Asian countries followed their advanced nations counterparts in boosting state spending and money printing […]
” as Asian workers land in Malta
VALLETTA, February 28, 2011 (AFP) – The UN refugee agency said a “humanitarian emergency” was underway as thousands fled Libya over the weekend in a mass exodus of foreigners from the strife-torn country by air, land and sea. The agency said almost 100,000 migrant workers, mostly from Egypt and Tunisia, had fled Libya in the […]
”’ says Sri Lanka captain ahead of Kenya clash
February 27, 2011 (AFP) – Sri Lankan captain Kumar Sangakkara has urged his team not to panic after slipping to defeat against Pakistan, as he looks to get their World Cup campaign back on track with victory over Kenya on Tuesday. “We have Kenya next, followed by Australia, so we will look back on the […]