Category:
Retail Profits
Feb 02, 2010 (LBO) – December quarter profits at Sri Lanka’s largest supermarket chain, Cargills (Ceylon) group, rose 49. 1 percent from a year ago despite flat sales growth, as finance costs fell interim results showed. The group made a net profit in the December quarter of 189. 8 million rupees despite total revenues staying […]
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February 2, 2010 (AFP) – Rights monitor Amnesty International urged Sri Lanka on Tuesday to end what it described as a post-presidential election “clampdown” on the media, political opponents and human rights activists. Pressure on government critics has been mounting since President Mahinda Rajapakse was re-elected on January 26, defeating his former army chief Sarath […]
Sri Lanka stocks up 1.51-pct, plantation stocks rally
Feb 01, 2010 (LBO) – Sri Lankan stocks surged Monday as retail investors were seen betting heavily on plantation stocks, while heavy institutional interest on John Keells Holdings (JKH) pushed turnover to almost 3. 0 billion rupees, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,691.39 points, up 54.98 points, while the […]
Share Split
Feb 01, 2010 (LBO)- Sri Lanka’s Sampath Bank plans to give shareholders an extra share for every 10 held by them in a share split that would increase total listed shares to 75.7 million, it said in a stock exchange filing. The share split is awaiting shareholder approval. The share split would effetely increase Sampath […]
Sri Lanka CIC profits up on government receipts
Feb 01, 2010 (LBO) – Sri Lanka’s Chemical Industries (Colombo) has returned to profit in the December 2009 quarter helped by a 250 million rupee past due payment from the government. In its annual report last year the firm said Chemcel (Pvt) Ltd, would make a speciality chemical with a US partner and was held […]
Sri Lanka says 12 army officers sacked after election
February 1, 2010 (AFP) – Sri Lanka’s president on Monday sacked 12 senior military officers over what one army source said were fears of a coup after last week’s presidential elections. They included three senior major generals and two brigadiers accused of interfering in politics during campaigning for January 26 election, in which President Mahinda […]
Sri Lanka fabric firm hit by lower prices, smaller orders
Feb 01, 2010 (LBO) – Sri Lankan fabric manufacturer Hayleys MGT Knitting Mills said December quarter profit fell sharply owing to lower prices and loss of orders to cheaper competitors. Net profit in the December quarter fell 73 percent to 20.7 million rupees from a year ago while sales fell 17 percent to 1.3 billion […]
ECB directors must tackle mounting eurozone tensions: analysts
FRANKFURT, (AFP) – European Central Bank policymakers will confront mounting eurozone financial tensions at a meeting Thursday in the face of a brewing crisis brought on by Greece’s spectacular public deficit and debt. That the ECB’s main interest rate will stay unchanged at a record low of one percent is considered a done deal for […]
‘s fortunes slump on bubble fears, China tightening
SAO PAULO, January 31, 2010 (AFP) – Fears of a speculative asset bubble and moves by China to rein in an overheating economy have taken their toll on Brazil, eroding equity prices and the national currency, the real. The strongest warning for Latin America’s biggest economy, still seen as one of the most attractive of […]
Maldives pledges deepest carbon emission cut by 2020
Jan 31, 2010 (LBO) – Maldives has voluntarily pledged to slash carbon emissions 100 percent by 2020, which is the deepest cut promised by any country so far under an international accord, the Indian Ocean archipelago said. “Climate change threatens us all,” Maldives president Mohamed Nasheed said in a statement. “If we don’t act now, […]
Maldives in privatization drive to up efficiency, fix finances: IMF
Jan 31, 2010 (LBO) – The Indian Ocean archipelago of Maldives will privatize its airport but could also sell down other state enterprises and bring private capital to a domestic bank, the International Monetary Fund has said. “A central plank will be the privatization of the airport, but stakes in the telecommunications company have already […]
Sri Lanka president to take oaths Feb 04: report
Jan 31, 2010 (LBO) – Sri Lanka’s re-elected president Mahinda Rajapaksa will take oaths for his second term in Kandy when the country celebrates independence from British rule on February 04, a media report said. The Sunday Times newspaper quoting foreign employment minister Keheliya Rambukwella said president Rajapaksa has spoken of his decision at a […]