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Sri Lanka down Pakistan in first one-dayer
DAMBULLA, July 30, 2009 (AFP) – Seamers Thilan Thushara and Nuwan Kulasekera ripped through Pakistan’s top order as Sri Lanka won the first one-day international by 36 runs here on Thursday.Left-armer Thushara finished with 3-29 and Kulasekera took 2-30 as Pakistan struggled against Sri Lanka’s 232-9 and were bowled out for 196 in 44.4 overs […]
Sri Lanka tobacco users generate more taxes, sales lower
July 29, 2009 (LBO) – Sri Lanka’s Ceylon Tobacco Company, which is the monopoly legal producer of cigarettes in the country, said profits grew in the June 2009 quarter, even as volumes fell and the government earned more revenue from taxes. The company, a British American Tobacco unit, said in a stock exchange filing that […]
Sri Lanka bill yields fall
July 29, 2009 (LBO) – Sri Lanka’s Treasury bill yields fell across maturities with the 3-month yield falling 15 basis points to 10.64 percent, at Wednesday’s auction, the government’s debt office said. The 6-month yield fell 27 basis points to 11.46 percent and the 12-month yield fell 13 basis points to 11.97 percent. The government […]
Sri Lankan shares down 0.33-pct on profit taking
July 29, 2009 (LBO) – Sri Lankan stocks fell Wednesday as retail investors took profits, while there was heavy trading in Dialog Telekom for the fourth day running, brokers said.Brokers said 10.04 million Dialog Telekom shares changed hands Wednesday, while 1.64 million shares of Janashakthi Insurance and 1.12 million shares of Lanka Cement also changed […]
Bank Score
July 29, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed Hatton National Bank’s (HNB) National Long-term rating at ‘AA-(lka)’ with a stable outlook. The rating reflects the bank’s good profitability, asset quality and capitalisation among local commercial banks, Fitch said in a statement. Fitch also confirmed the bank’s subordinated debentures at ‘A+(lka)’. HNB’s […]
Sri Lanka June tea exports fall
July 29, 2009 (LBO) – Sri Lanka’s tea exports fell in June from a year ago with earnings for the first half buoyed by the rupee’s depreciation against the dollar, brokers said. Prices at this week’s Colombo auction also fell from the week before, mainly on lower quality. Shipments of tea in June fell eight […]
Sri Lanka Talawakelle Tea Estates returns to profit
July 29, 2009 (LBO) – Sri Lanka’s Talawakelle Tea Estates said it had returned to profit in the June 2009 quarter after making a loss in the previous quarter because of a sharp fall in the crop.A severe drought and the lagged effects of last year’s commodity market crash that led to the neglect of […]
Phone Ban
July 28, 2009 (AFP) – Sri Lanka has banned students from taking mobile phones to school following the suicide of a teenager disciplined for using her telephone, an education ministry spokesman said on Tuesday.All schools were ordered to impose the ban after a 14-year-old girl — reprimanded over telephone contact with a boy during school […]
Cost Model
July 29, 2009 (LBO) – The Sri Lankan unit of Bharti Airtel, which entered the island in January triggering a price war, says it is confident of making money with its low cost business model. “When we look at countries like Sri Lanka, we feel that the model we used in India can be replicated […]
Wire Drop
July 29, 2009 (LBO) – Sri Lanka’s wireline telephone connections dropped by 60,000 to 876,064 in the first quarter of 2009, the latest official data showed, though fixed wireless phone use continued to grow. “The decline of fixed connections started around 2000 in Finland, where now over 40 percent of homes are mobile-only,” says Rohan […]
Sri Lankan clothing retailer expands to the Maldives
July 29, 2009 (LBO) – Sri Lankan menswear retailer Hameedia has expanded into the neighbouring Maldive islands, opening a showroom in the capital Male.“It involves a careful selection of fabrics and accessories, studying both national and international market trends, and, the demanding task of marketing.” Hameedia Managing Director Fouzul Hameed said the company was looking […]
Sri Lanka private flying revival in the offing
July 29, 2009 (LBO) – Sri Lanka’s civil aviation authority is considering giving approval for the operation of more private aircraft, the use of which was severely restricted and sometimes banned during the ethnic war.But the Tigers were defeated by government forces in May and flying restrictions are being eased with the end of the […]