Last Updated : 31-08-2014 15:15

 
 

Business

Kotagala plans rubber plantation in Cambodia

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Kotagala Plantation, a unit of Lankem Ceylon PLC has decided to set up a 15,000 hectare rubber plantation in Cambodia.

SL records US $ 537 mn FDIs in first half

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Central Bank said the country has received US $ 537 million worth Foreign Direct Investments (FDIs) in the first half of 2013.

Loose regulations fuel gold loans

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Loose regulatory guidelines with regard to gold-backed loans have been identified a key contributor to a ‘runaway growth’ in pawning loans, exposing the Sri Lankan banking industry to higher loan defaults, international credit agency Standard & Poor’s (S&P) said in a special report.

HNBA net up 29%, surpasses Rs.100mn in post-tax profits

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HNB Assurance PLC, the insurance arm of Hatton National Bank, saw its net profit surging 29 percent Yearon-Year to Rs.106.6 million for the six months ending June 30, 2013 (1H13).

Central Bank seen keeping rates steady

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The Central Bank is expected to keep key monetary policy rates steady, a Reuters poll showed, as it reviews the impact of policy easing in recent months.

Potential of carbon trading from rubber plantations

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Recently a training workshop was held in Colombo under the auspices of the International Rubber Research...

Regulator warns Crown on Sri Lankan investments

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Gaming mogul James Packer-controlled Crown casino group has been warned of dangers of bribery in expanding its casino empire into Sri Lanka and the Philippines, by a state gambling watchdog, Australian media reported.

Luxury vehicle registration reaches peak in July

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Registration of luxury vehicles have reached highest levels for 2013 with 729 registrations in July, an equity brokerage report showed.

Lanka IOC 1Q profits surge to Rs.1.35bn

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Lanka IOC PLC (LIOC), the local unit of the Fortune 500, Indian Oil Corporation Limited saw its net profits for the three months ended June 30,2013 soaring as much as 600 percent Year-on-Year (YoY) to Rs.1.35 billion due to cost controls.

Time to reduce borrowings in Sri Lankan enterprises

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Sri Lankan enterprises – especially SMEs use a comparatively high level of bank borrowings to fund investments. This is partly due to low level of domestic savings and inefficiency in the capital market. 

HNB records Rs.3.4bn PAT for 1H13

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During the first half of 2013, post-tax profit of the bank improved by 12 percent to Rs.3.14 billion, compared to Rs.2.8 billion during the corresponding period in 2012, while the group post-tax profit improved by 15 percent to Rs.3.4 billion.

Milk powder shortage unavoidable: Prof. Samarajiva

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The withdrawal of imported milk powder from the market under the direction issued by the Sri Lankan authorities could trigger a milk powder shortage in the market in the short term and could also lead to the making of a milk powder black market.

A truly refreshing expereince : SAFA launches a range of Sri Lankan fruit juices

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Hassani Group of companies in Dubai launched its operations in Sri Lanka under their global brand name “SAFA” by partnering with Hayley’s Agriculture for franchised manufacturing and East West Marketing to market and distribute a range of its manufactured food categories such as juices, pasta, sauces, mayonnaises, tomato paste and many more. 

Banking sector capital adequacy figures not all rosy: Fitch

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The capital adequacy of the Sri Lankan banking sector to withstand sudden solvency risks is not as healthy as reported statistics, a top Fitch Ratings official told a recent forum in Colombo.

IMF cautions on aggressive monetary easing

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International Monetary Fund (IMF) said they were very concerned about the aggressive monetary policy easing pursued by the Lankan authorities to spur growth amid looming inflationary pressures.

Construction sector must establish presence overseas for sustainability: Prof. Jayawardena

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Sri Lanka’s construction industry must look to secure contracts overseas in order to ensure longterm sustainability, according to University of Moratuwa Vice Chancellor Professor Ananda Jayawardena.

Activist investors – Why companies fear billionaire takeovers

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A century ago, their tribe, engaged in less complicated businesses than power-packed takeovers, was known as robber barons. Today, the billionaires whom Wall Street admires for their ability to generate money on money, are apparently fanged with takeover poison spewing from them and companies have come to fear the activist investors for just what they can do to peel off a company, layer by layer, unravel years of brand building to uncover what the investors call ‘hidden potential’. The companies call it dying by strangling or somewhat closer to it.

Reducing trade deficit: Is the government jousting with toothpicks?

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Sri Lanka has high trade deficits. And, instead of shrinking, they are increasing over the years. The current government policy, based on import substitution, will not be able to solve this serious problem.

Keells Super goes Mobile!

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With Sri Lanka having to experience a mobile penetration that’s close to the entire population of the country coupled with the increasing growth in internet access via handsets and smartphones, Keells Super brings mobile shopping for the first time in its industry, adding greater ease and convenience to its shoppers.

Belarus looking for agro - automotive JVs in Sri Lanka

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Belarus, a former Russian Federation country with an industry-driven economy has expressed interest in assembling agro-automotives such as tractors and other heavy duty automobiles in Sri Lanka.

New terminal, breakwater open for business

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President Mahinda Rajapaksa yesterday officially opened South Asia’s only container terminal that can handle Triple-E vessels and the new breakwater of Colombo Port stretching 400 metres to the sea.

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