Category:
Ship Building
Nov 13, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the September 2009 quarter almost doubled from a year ago with earnings boosted by orders to build new vessels for overseas customers.The yard, which is majority owned by Japan’s Onomichi Dockyard, said in a stock exchange filing that September quarter […]
Bank Margins
Nov 13, 2009 (LBO) – Sri Lanka Nation’s Trust Bank, a unit of John Keells Holdings said net profits grew 28 percent to 173.9 million rupees in the September 2009 quarter from a year earlier, while revenues fell 3.0 percent to 3.5 billion rupees. Interest income fell 4.0 percent to 2.97 billion rupees, interest expenses […]
Tight Quarter
Nov 13, 2009 (LBO) – Sri Lanka’s Commercial Bank’s profits grew 3.5 percent to 971 million rupees in the September quarter from a year earlier with lower provisioning, while total revenues fell 6.1 percent to 10.5 billion rupees. The bank’s interest income fell 6.1 percent to 8.87 billion rupees, interest expenses fell at a slower […]
Research Link
Nov 13, 2009 (LBO) – Intellectual property protection in Sri Lanka is still to weak to encourage companies to do research and develop new crop varieties with better yields, an agri-business company official said. “IP rights laws do not have provision to register agricultural innovations,” said Samantha Ranatunga, chief executive of the listed Chemical Industries […]
22 refugees leave Australian ship: Indonesia police
TANJUNG PINANG, November 13, 2009 (AFP) – A group of 22 Sri Lankan asylum seekers left an Australian customs ship to come ashore in Indonesia Friday, police said, partially easing a standoff which began last month.The group, who were among a total of 78 ethnic Tamils on the Oceanic Viking anchored off Bintan island near […]
Myanmar junta leader suffers stomach bug in Sri Lanka: doctor
KANDY, November 13, 2009 (AFP) – Myanmar junta leader General Than Shwe was treated for a mild stomach bug hours after his arrival in Sri Lanka, a doctor from the hospital that treated him said Friday.The reclusive junta leader complained of discomfort after his entourage had checked into a deluxe hotel in the central Buddhist […]
‘s top general
November 13, 2009 (AFP) – Sri Lanka’s government sidelined top general Sarath Fonseka because of fears he would launch a coup, he wrote in a bitter resignation letter ahead of an expected election battle with the president. The United Nations reported that more than 7,000 civilians may have perished in fighting this year, though this […]
‘s top general quits ahead of vote
November 12, 2009 (AFP) – Sri Lanka’s top general Sarath Fonseka, a war hero at home credited with crushing Tamil rebels, quit Thursday, heightening speculation he will enter politics to challenge President Mahinda Rajapakse.“I gave my resignation. I have submitted my retirement papers,” Fonseka told reporters at a Buddhist temple he visited after sending his […]
Slippery Oil
Nov 13, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp., has said it made a loss of 203 million rupees in the September 2009 quarter, partly on losses from hedging in oil imports.The firm has been lobbying for lower import duties on fuel or higher retail prices which are government […]
Sri Lanka Treasuries yields fall 950bp over past year: Central Bank
Nov 11, 2009 (LBO) – Sri Lanka’s Treasury bill yields have fallen 947 to 950 basis points at primary auctions over the past year, helped by easier monetary policy, foreign investment into Treasuries and lower inflation, the Central Bank said.At Wednesday’s auction 3-month yields fell to 7.73 percent, the 6-month yield fell 22 basis points […]
Sri Lankan stocks up in low volume trade
Nov 12, 2009 (LBO) – Sri Lankan stocks closed up almost across the board Thursday, boosted by gains in selected index heavy blue chips despite low trade volumes, while retail investor sentiment remained poor, brokers said. The All Share Price Index closed at 2,927.56, up 2.57 percent (73.32 points) while the Milanka Price Index of […]
Sailing Away
Nov 12, 2009 (LBO) – Delays at Colombo port caused by disruptive labour union action might prompt international shipping lines to shift their hard-won custom to competing ports, the Sri Lanka Ports Authority (SLPA) has warned. The SLPA had promised “efficient and fast port services” and “higher productivity” to win the custom of the shipping […]