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.
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.
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.