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Fuel Supply
Oct 03, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to increase storage of ship fuels at its newly acquired tank farm near Colombo port by building more tanks, its acting chairman Priyath Bandu Wickrema said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Banking Reach
Oct 03, 2008 (LBO) – Sri Lanka’s National Development Bank (NDB) said Friday it had got central bank approval to set up an investment bank in Bangladesh. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The bank said in a stock exchange filing that it was waiting […]
Yield Chase
Oct 03, 2008 (LBO) – Sri Lanka’s central bank promised more action against unauthorized deposit institutions but said those who lost money in recent Ponzi-style financial scams were victims of chasing high yields. Central Bank governor Nivard Cabraal said the central bank itself has spent millions of rupees advertising against high yield scams and pyramid […]
Sri Lanka troops kill 42 in offensive against rebels: ministry
October 3, 2008 (AFP) – Sri Lankan troops have killed 42 Tamil Tigers and injured 53 in a ground and sea offensive aimed at dismantling the rebels’ mini-state in the north of the island, the defence ministry said Friday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Sri Lankan Airlines gets acting chairman; Emirates directors out
Oct 03, 2008 (LBO) – Nishantha Wikremasinghe, an existing director of SriLankan Airlines has been appointed chairman, following the resignation of P B Jayasundera, the airline said. Jayasundera resigned over a court order relating to a privatization deal involving a bunker firm. Three directors that represented Emirates Airlines, which is the second largest shareholder of […]
ECB opens door to rate cut as Trichet heads to crisis talks
FRANKFURT, October 3, 2008 (AFP) – The European Central Bank has opened the door to a rate cut in the coming months as its president Jean-Claude Trichet prepares for high-level financial talks in Paris on Saturday, analysts said. ECB policymakers “threw the door wide open for a rate cut in the foreseeable future,” commented Bank […]
Asian markets tumble as Wall Street dives on bailout fears
HONG KONG, October 3, 2008 (AFP) – Stocks continued to tumble across Asia Friday on the back of heavy losses on Wall Street and amid concern over the fate of the multi-billion-dollar bailout deal for the US financial system. The House of Representatives in Washington was set to vote later in the day on a […]
Oil prices slump, ending brief rally
NEW YORK, October 2, 2008 (AFP) – Oil prices tumbled Thursday, with worries about demand returning to the fore amid critical credit strains in the global economy and a stronger dollar keeping a lid on prices. New York’s main contract, light sweet crude for November, slid 4.56 dollars to close at 93.97 dollars a barrel. […]
Ireland passes bank guarantee law amidst protests from neigbhour
DUBLIN, October 3, 2008 (AFP) – Ireland has passed a controversial emergency law guaranteeing bank deposits despite protests that the move gives its financial sector a competitive advantage over neighbouring countries. Dublin insisted it had to guarantee its six main banks to shore up the whole system, but Britain in particular argued the move is […]
Sri Lanka fiscal management critical for managing inflation: think tank
Oct 03, 2008 (LBO) – Sri Lanka’s government spending policies, and foreign borrowings are key to keeping inflation down though tight monetary policy can bring short term results, a think tank has said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Whilst a sharp drop in credit […]