Category:
Sri Lanka shares surge on palm oil hopes
Feb 14, 2011 (LBO) – Sri Lankan shares surged to a new high Monday as investors continued to buy into firms with oil palm plantations anticipating higher earnings on high commodity prices, brokers said. The All Share Price Index closed at 7,811.82, up 2.97 percent (225.19 points) while the more liquid Milanka index fell 0.15 […]
Mobility Monitor
Feb 14, 2011 (LBO) – Car imports into Sri Lanka shot up by 300 percent to 23,072 in 2010 after the government slashed import duty and also because of rising demand after the end of a war, a government statement said. It said the number of cars registered with the motor traffic department in 2009 […]
Finance Quality
Feb 14, 2011 (LBO) – Sri Lanka’s registered finance companies (RFCs) are gradually recovering from the weakened economic climate that prevailed in 2008 and 2009, a ratings report said. RAM Ratings (Lanka) said the sector has benefitted from falling interest rates which has increased margins due to deposit rates falling faster than rates on loans. […]
Bank Numbers
Feb 14, 2011 (LBO) – The December 2010 quarter net profit at Sri Lanka’s Sampath Bank almost doubled to 1.4 billion rupees from a year ago with basic earnings per share up 96 percent to 8.84 rupees, a stock exchange filing said. Interest income fell 9.8 percent to 4.7 billion rupees and interest expenses fell […]
Sri Lanka Aitken Spence Hotels net up on interest
Feb 14, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotels, which also has operations in the Maldives, said net profit for the December quarter was up 30 percent to 272 million rupees, with revenues growing 5. 0 percent 2.0 billion from a year earlier. But operating profits fell 9.0 percent to 351 million during the […]
Sri Lanka reservoirs may need larger sluice gates, canals
Feb 14, 2011 (LBO) – Sri Lanka’s reservoirs including those planned or under construction may have to be re-designed with larger spill gates and canals to evacuate excess water following recent rare floods in quick succession this year, officials said. Sri Lanka’s Mahaweli river valley agency, which controls 12 large reservoirs says its network is […]
Sri Lanka seen as among fastest growing passenger markets
SINGAPORE, February 14, 2011 (AFP) – Eight-hundred million more people will travel by air by 2014, over a quarter of them from China, raising the need for more efficient traffic management and airports, IATA trade body said Monday. The International Air Transport Association (IATA) forecast an estimated 3. 3 billion air travellers in three years’ […]
‘s economy shrinks in Q4 as China moves ahead
TOKYO, February 14, 2011 (AFP) – Japan ceded its spot as the world’s second-biggest economy to China in 2010, as gross domestic product contracted in the fourth quarter on sliding consumer consumption and demand, data showed. Real gross domestic product slipped by an annualised 1.1 percent in the October-December quarter as the expiration of auto […]
Rate rises and graft scandals threaten India growth
NEW DELHI, February 13, 2011 (AFP) – India is set for scorching growth this year but concern is mounting about its longer-term outlook, with the central bank seen hiking interest rates further and corruption scandals worrying investors. The stock market has already dropped some 17 percent this year, hit by fears that economic growth will […]
Sri Lanka smash Netherlands
February 12, 2011 (AFP) – Hosts Sri Lanka proved far too strong for minnows Netherlands, posting a crushing 156-run victory in a morale-boosting World Cup warm-up match on Saturday. Sri Lanka, runners-up at the 2007 World Cup in the Caribbean, scored 351-5 off their allotted 50 overs even without prolific run-getters Kumar Sangakkara and Mahela […]
Sri Lanka flood damage $600 mln
February 13, 2011 (AFP) – The damage from monsoon flooding in Sri Lanka over the last six weeks is estimated at 0 million, a government minister said Sunday amid a slow response to an international appeal for help. The United Nations issued an appeal for $51 million to address immediate needs after the first round […]
Ship Repair
Feb 12, 2011 (LBO) – Sri Lankan listed ship yard Colombo Dockyard is currently doing repair work on several small tankers and a research vessel that will earn revenues of around four million US dollars, a statement said. The yard, a unit of Japan’s Onomichi Dockyard Company, expects revenue of 1.2 million dollars from major […]