BIZ BRIEFS

Lanka Hospitals wins Performance Award

Lanka Hospitals recently bagged the Global Performance Excellence Award 2013 (GPEA).

The GPEA which is awarded by the Asia Pacific Quality Organisation or APQO is a non-profit organisation that serves as an umbrella group bringing together leading quality professional societies from countries that border the Pacific Ocean.

To secure this award, candidates need to have won the National Quality Award in their country within the past three years and be recommended by the National Quality Award body following a stringent assessment criteria.

In recognition of the win at global level, Lanka Hospitals was awarded an appreciation by the Sri Lanka Standards Institution (SLSI).

S and P acquires additional stake in RAM

Standard and Poor Ratings Services, one of the world's leading providers of credit ratings, has acquired an additional 2.1 percent stake in RAM Holdings Berhad.

This acquisition increases Standard and Poor's shareholding in RAM to 8.2 percent. Standard and Poor acquired an initial 4.9% stake in RAM in November 2011 and another 1.2 % stake in August 2013. "The further expansion of its minority stake in RAM demonstrates Standard and Poor's ongoing commitment to ASEAN capital markets, including Malaysia," a company spokesman said.

eBay's profit forecast falls

The online auction and retail giant, eBay, has delivered a lower-than-expected sales and profit forecast for its fourth quarter. Blaming slowing growth in online shopping rates in the US, the firm said it expected sales of between $4.5 billion (£2.8 billion) and $4.6 billion for the holiday period.

Shares in the company fell as much as 5% on the news in extended US trading. The quarter is a key shopping period for the firm. ebay says it has seen weaker economic conditions in the United States.

"US e-commerce softened considerably and we have a cautious outlook for the holiday season," Chief Financial Officer Bob Swan told investors.

- BBC