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State Support
Oct 06, 2008 (LBO) – Fitch Ratings Lanka has confirmed Sri Lanka’s People’s Bank (PB) national long-term ‘A-(lka)’ rating with a ‘positive’ outlook and the bank’s other ratings at Support ‘4’ and Individual ‘E’. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The Long-term and Support ratings […]
Public Service
Oct 06, 2008 (LBO) – Sri Lanka’s Supreme Court has suspended a controversial new rule that gave the President powers to extend the terms of chosen public officers, but did not reverse any extension already granted, lawyers said. Those designated as public officers were “distinct and separate from political entities, judicial officers,” the plaint said. […]
Nepal president endorses child goddess
KATHMANDU, October 6, 2008 (AFP) – Nepal’s Maoist president has endorsed the choice of a three-year-old girl to be worshipped as a goddess, officials said Monday, upholding an age-old tradition despite his government’s atheist stance. The selection of the child goddess, or Royal Kumari, had for centuries required the approval of Nepal’s kings, but the […]
Picture postcard Maldives test democracy at the polls
Oct 06, 2008 (LBO) – The tourist paradise of Maldives will hold its first multi-party poll on Wednesday in what is seen as a litmus test on Asia’s longest serving ruler and his commitment to democratic reforms.Around 209,000 people across some 200 inhabited islands will cast their ballot to elect a president for a five-year […]
Sri Lanka bomb attack kills 22, including general turned politician
Oct 06, 2008 (LBO) – A former Sri Lankan military general who won office in a regional election was killed in a suicide blast in the along with a score of others in the north central city of Anuradhapura, police said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka general turned politician assassinated
Oct 06, 2008 (LBO) – A former Sri Lankan military general who won office in a regional election has been killed in a suicide blast in the north central area city of Anuradhapura, police said. The blast, from a suspected Tamil Tiger suicide bomber, had occurred near his party office. A suicide blast has killed […]
Dubai shrugs off global turmoil with new mega projects
DUBAI, October 6, 2008 (AFP) – A Dubai government firm on Monday announced it will build a “new city” in the booming Gulf emirate at a projected cost of 95 billion dollars, shrugging off the global financial turmoil.The announcement came one day after Dubai developers Nakheel said it planned to build a tower which will […]
Gloom engulfs corporate India: survey
NEW DELHI, October 6, 2008 (AFP) – India’s corporate optimism has sunk on worries about the global economy and weakening demand, according to a new survey Monday, as the stock market and rupee fell to fresh lows. Some 57 percent of the 348 firms in the cross-sector survey reported Asia’s third-largest economy had grown “moderately […]
Britain mulls buying shares to recapitalise banks: reports
LONDON, October 6, 2008 (AFP) – British finance minister Alistair Darling is considering giving banks billions of pounds in return for shares to shore them up in the face of the global credit crunch, media reports said Monday. The plan is a middle way between full nationalisation, as with Northern Rock and Bradford & Bingley […]
Wachovia rooting for Wells Fargo buyout despite Citi court block
WASHINGTON, October 6, 2008 (AFP) – Troubled lender Wachovia Corp. appeared determined Sunday to plow ahead with a planned union with Wells Fargo & Co., despite an order from a New York State Supreme Court in favor of jilted suitor Citigroup. Citigroup was blindsided last week in its bid to complete a tie-up after Wachovia, […]