Category:
Housing Profits
Aug 16, 2010 (LBO) – Sri Lanka’s Housing Development Finance Corporation (HDFC) Bank group June 2010 quarter profits fell 96 percent to 5.3 million rupees from a year ago owing to lower revenues and higher finance costs, interim results showed. HDFC group’s gross assets rose 6.7 percent to 15.1 billion rupees. The state-owned HDFC Bank […]
Sri Lanka KumbukRiver named among top 20 spectacular hotels
Aug 16, 2010 (LBO) – Sri Lanka’s KumbukRiver has been included in a list of the world’s top 20 most unusual hotels, just announced by an international portal dedicated to the unusual and the audacious, a statement said. The list includes Dubai’s landmark Burj al Arab and the Galactic, the first-ever hotel in space, the […]
Sri Lanka losing Arab market, tea exporter warns
Aug 16, 2010 (LBO) – A top Sri Lankan tea exporters has warned that Ceylon tea was losing market share to international brands in key Middle Eastern markets to which shipments from the island have fallen. Ceylon Tea Services chairman Merrill J. Fernando said the tea industry needs a stable policy, direction and expertise if […]
Supermarket Sweep
Aug 16, 2010 (LBO) – Sri Lanka’s largest supermarket chain Cargills (Ceylon) group June quarter profits rose 92.3 percent to 312 million rupees from higher sales, better margins and lower finance costs, a stock exchange filing said. Group revenues rose 20.6 percent to 8.94 billion rupees from a year ago while sales cost rose at […]
Electronic Snooping
SAN FRANCISCO, August 16, 2010 (AFP) – Clashes between the maker of Blackberry smart phones and India, Saudi Arabia and the United Arab Emirates are the latest rounds in a cat-and-mouse game pitting authorities against technologies racing beyond their grasp. “Governments can go to the extreme of simply banning such technologies, but the economic ramifications […]
Sri Lanka Tamil on ship bound for Canada died at sea: Tamil Congress
MONTREAL, August 15, 2010 (AFP) – A Tamil man who travelled with hundreds of other Sri Lankan migrants aboard a cargo ship bound for Canada died during the trip and was buried at sea, the Canadian Tamil Congress said Sunday. “A man indeed died. We don’t know what kind of sickness he died from, but […]
‘s party to appeal conviction
August 15, 2010 (AFP) – Sri Lanka’s former army chief Sarath Fonseka will appeal against a court martial conviction that stripped him of his rank, pension and prestige, his political party announced Sunday. President Mahinda Rajapakse formally removed Fonseka’s rank and medals and stopped his pension on Saturday, a day after a court martial found […]
Mobile Switch
Aug 15, 2010 (LBO) – Sri Lanka Telecom’s June 2010 net profit shot up 105 percent to 769 million rupees from a year ago as earnings from its mobile unit and broadband made up for falling voice revenues, a stock exchange filing said. Basic earnings per share rose to 0.43 rupees from 0.21 rupees the […]
Sri Lankan exporters brace for life without EU tax breaks
DANKOTUWA, August 15, 2010 (AFP) – Sri Lankan exporters braced for hard times as the EU’s withdrawal of import concessions took effect Sunday after Colombo’s refusal to allow scrutiny of its human rights record. Sri Lanka has long been a preferred source for top high streets brands and its garment, china and other exports enjoyed […]
Sri Lanka Tamil migrants in good condition: Canada
ESQUIMALT, August 14, 2010 (AFP) – Hundreds of Sri Lankan Tamil migrants who arrived aboard a rusty cargo ship were in good condition after their three-month voyage, Canadian officials said Saturday. The MV Sun Sea, a 59-metre Thai-registered ship reportedly carrying as many as 490 migrants, landed in Esquimalt, British Columbia on Friday, escorted by […]
Sri Lanka renewable energy drive seen hurt by red tape
Aug 14, 2010 (LBO) – Premature cancellation of projects and complex and lengthy approval procedures are retarding the development of renewable energy like mini-hydro power in Sri Lanka, an official said. “The government has set up the SEA which is now helping us to overcome problems and trying to streamline the process of granting approvals. […]
Sri Lanka strips former war-hero of pension and prestige
August 14, 2010 (AFP) – Sri Lanka’s president has formally stripped former army chief Sarath Fonseka of his rank, medals and pension after his conviction by a court martial, officials said Saturday. President Mahinda Rajapakse ratified Friday’s verdict of the controversial tribunal, which found Fonseka guilty of dabbling in politics while heading the military last […]