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Tuesday, 23 March 2010

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Asset base to support GDP growth:

Banking stocks highest gainers

Banking sector stocks were the highest gainers in the resurging Colombo Bourse in the second half of 2009, a report on the local banking sector said. The Bartleet Mallory Stock Brokers report on local banking sector said Year on Year (YoY) profit growth of around 3 percent and net interest margins of 4.6 percent saw Sri Lanka’s banking sector ride out the slowdown in the domestic economy due to the global financial crisis with a healthy and even improved performance by many banks by third quarter of 2009.

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Tea production increases in February

The total reported production of tea in Sri Lanka during February this year amounted to 23,508,012 kgs as against 12,881,691 kgs produced during the corresponding month in 2009. This shows an increase of 82.5 percent or 10,626,321 kgs, Tea Board Chairman Lalith Hettiarachchi told Daily News Business.

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Jovees to invest in Sri Lanka

High demand for cosmetics:

An Indian company is exploring the possibility of setting up a cosmetics manufacturing plant in Sri Lanka. JR Herbal Care India Limited Business Head Rakesh Misri said as the economy stabilizes after the war, the year ahead will flourish for the FMCG industry.

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Tea pluckers in the hill country



 
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