Category: Industry
Upper Limits
February 20 (LBO) – Sri Lanka’s Central Bank on Tuesday revised the requirements on single borrower limits to promote better risk management of banks. The new regulations allow individuals or single entities the ability to borrow up to 30 percent of the capital base of the bank. The single borrower limit goes up to 33 […]
Insurance Appetite
February 20 (LBO) – One of Sri Lanka’s youngest listed insurance firms, HNB Assurance closed up 8 percent Tuesday after declaring a one-for-two bonus issue following a 51 percent surge in profits for 2006. HNB Assurance closed up 2.50 rupees at 33.50 after peaking at 37 after the bonus announcement. A subsidiary of Hatton National […]
Sri Lanka look to deliver huge surprise at World Cup
NEW DELHI, Feb 19, 2007 (AFP) – Sri Lanka will be keen to maintain their recently-acquired reputation of doing consistently well away from home when they begin their World Cup campaign in the Caribbean.None of the three other sub-continent sides can match an impressive record of Mahela Jayawardene’s Sri Lankans, who won more than 50 […]
Bank Gain
February, 19 (LBO) – Hatton National Bank group profits rose 26 percent in 2006, with revenue growing by 27.5 percent and assets reaching 206 billion rupees, the bank said Monday. The latest results had pushed earnings per share to 19.01. Group net profit after tax and minority interest grew to 2.2 billion rupees from 1.7 […]
Top Line
February 19 (LBO) – Ceylinco Insurance Company said Monday its premium income had grown 19.5 percent to 15.3 billion rupees in 2006. It was promoted by the Ceylinco Group, whose Ceylon Insurance Co. Ltd was the first Sri Lankan company to be registered under the Companies Ordinance of 1938. General Insurance premiums had grown 19 […]
Loud Numbers
February 19, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Monday posted a 44 percent rise in net profits for the 12 months to December, and said it plans to cover 100 percent of the island by end 2007. A unit of Telekom Malaysia, Dialog Telekom, reported a 10.12 billion rupee group […]
Transparent Record
February, 18 (LBO) – Sri Lankan borrowers would be allowed to ask for their own credit reports and request changes if they are not correct, from the country’s central credit information centre, an official said. Before the changes even loans that are repaid in full, were a permanently of a borrwer’s credit report. Sri Lanka […]
Cricket World Cup 2007 groups and fixtures
BRIDGETOWN, Feb 16, 2007 (AFP) – Groups and fixtures for 2007 cricket World Cup: Warm-up matches: March 5: Bermuda v England (Arnos Vale Ground, Kingstown, St Vincent) Scotland v Sri Lanka (Three Ws Oval, Bridgetown, Barbados) South Africa v Ireland (Sir Frank Worrell Memorial Ground, St Augustine, Trinidad) Kenya v West Indies (Trelawny Stadium, Jamaica) […]
Yuvraj fires India to series-clinching win
VISAKHAPATNAM, India, Feb 17, 2007 (AFP) – Yuvraj Singh smashed a blistering 95 not out to guide India to a series-clinching seven-wicket win over Sri Lanka in the fourth and final one-dayer here on Saturday.He received valuable support from Sourav Ganguly (58 not out) as India surpassed Sri Lanka’s total of 259-7 with six overs […]
Occult Politics
February, 17 (LBO) – Sri Lanka’s is supposedly a vibrant democracy with its political destiny decided by a population that got universal suffrage in 1931, but the island’s leaders seem to believe their future is controlled by sublime forces of the occult. Sri Lanka’s former foreign minister Mangala Samaraweera newly-sacked from the government, is said […]
Sri Lanka hopes for spark from South Asian motor rally
Feb 17, 2007 (LBO) – The South Asian Association for Regional Cooperation (SAARC), the largest regional group in the world by population, is to kick off a rally to spark interest in member country hotspots and tourist attractions. The rally is to set off in Dhaka in Bangladesh and will take the ground routes through […]
Bursting Point
February 16, 2007 (LBO) — SriLankan Airlines says it is running out of cargo space at Colombo’s international airport, while a newly-built facility lies empty over a rent dispute.The issue is likely to remain a sticky point as the government drags its feet to over the renewal of SriLankan’s management agreement with Emirates which is […]