Category:
Bank Numbers
Nov 11, 2010 (LBO) – Sri Lanka’s National Development Bank said September 2010 quarter group net profit rose 31 percent to 808 million rupees from a year ago as non-interest income rose and interest expenses fell faster than costs. The performance of NDB’s investment banking cluster showed “significant improvement” over the corresponding period last year, […]
‘s Hemas group mulls hotel ventures
Nov 11, 2010 (LBO) – Sri Lanka’s Hemas Holdings is considering expanding its hotels business with plans to build resorts in the south and east coasts as a post-war tourism boom gets under way, its chief executive Husein Esufally said. The group, which now operates four hotels, has a property in Tangalle on the south […]
Sri Lanka capital flooded, rains lash island
Nov 11, 2010 (LBO) – Parts of Sri Lanka’s capital Colombo went under water as unprecedented rains lashed the island, and authorities warned residents to use public transport to avoid traffic jams amid flood warnings in other parts of the country. Many of Colombo’s streets, including the approach roads to Sri Lanka’s parliament was impassable […]
Sri Lanka in new campaign to promote tea
Nov 11, 2010 (LBO) – Sri Lanka’s tea industry will launch a marketing campaign to promote Ceylon tea next year with funds from a new export tax on exports, a senior Tea Board official said. The levy of 3.50 rupees a kilo that came into effect in November will raise about a billion rupees or […]
Sri Lanka Treasuries yields flat after moving above policy rate
Nov 10, 2010 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction after yields of all maturities moved over the central bank’s policy rate of 7. 25 percent a week earlier, data released by the government’s debt office showed. The 3-month yield edged up one basis point to 7.30 percent, the 6-month […]
Sri Lanka Asiri Hospitals group net down 52-pct
Nov 10, 2010 (LBO) – Sri Lanka’s Asiri Hospitals group profit fell 52 percent to 23.3 million rupees though revenues rose 22. 2 percent to 1,197 million rupees in the September 2010 quarter from a year earlier, interim accounts showed. Administrative costs rose 54 percent to 324 million rupees. Finance costs also rose 36 percent […]
Sri Lanka stocks end weaker
Nov 10, 2010 (LBO) – Sri Lankan stocks slumped again Wednesday, extending a losing streak, with trading drying up and a few private deals in units of the John Keells Holdings group, brokers said. The All Share Price Index closed at 6,535. 09, down 0.87 percent (57.29 points) while the more liquid Milanka index fell […]
Terminal Tales
Nov 10, 2010 (LBO) – South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, said volumes rose 17 percent in October to 173,528 containers from a year ago. SAGT is 42.2 percent owned by JKH and has been contributing a big chunk of the conglomerate’s profits in recent years, along […]
Investment Banking
Nov 10, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon has beefed up its investment banking unit and is looking to win new business as the government is planning to sell down commercial enterprises in the stock market, a top official said. “The investing banking division will engage in equity participation, mergers and acquisitions, […]
Sri Lanka estate workers get Indian aid for homes
Nov 10, 2010 (LBO) – India will build 5,000 homes for workers on Sri Lanka’s plantations in the central hills which are a key sector of the island economy, a statement from the Indian High Commission said. Indian High Commissioner Ashok Kantha announced the stepping up of Indian assistance for people in the hill country […]
‘s seas
PENANG, November 10, 2010 (AFP) – Overfishing in Southeast Asian seas has left garoupas and sea bass in dire straits, searching for mates on denuded seabeds, according to experts alarmed by ever-declining catches. Marine scientists and fishermen say that popular fish species — especially the large and valuable ones — have been caught indiscriminately, causing […]
Sri Lanka Union Assurance profits down 4.0-pct
Nov 10, 2010 (LBO) – Sri Lanka’s Union Assurance said net profits for the September 2010 quarter fell 4. 0 percent to 39.5 million rupees, while total revenues rose 29 percent to 2. 2 billion rupees. Gross written premium rose 17 percent to 1. 67 billion rupees, reinsurance premiums rose at a slightly faster 19 […]