All Blogs
Soft License
Sept 24, 2008 (LBO) – The Sri Lanka unit of Toroid, a Scandinavian transformer maker has licensed Microsoft software for its factories in an export processing zone in the island, Microsoft said.The software firm said its ‘Microsoft Enterprise Agreement’, which is tailored for use by firms that have more than 250 workstations, could bring savings […]
Sri Lanka opposes EU human rights probe to renew GSP+ benefits
Sept 24, 2008 (LBO) – Sri Lanka has opposed a European Union probe into human rights in the island to see if it meets conditions required to renew a trade deal giving duty free access to European markets. Bogollagama sought the meeting with Ferrero-Waldner after learning of European Commission plans to conduct an investigation on […]
Malaysia cuts fuel prices again
KUALA LUMPUR, September 24, 2008 (AFP) – Malaysia Wednesday announced another 3.9 percent cut in petrol prices, following recent declines in world oil prices. Prime Minister Abdullah Ahmad Badawi said the price of petrol will be cut by 10 sen to 2.45 ringgit (0.72 dollars) while diesel prices will be cut by the same amount […]
FBI probes finance giants for fraud: report
WASHINGTON, September 24, 2008 (AFP) – The US Federal Bureau of Investigation is probing allegations of fraud by 26 Wall Street firms including several investment giants whose collapse sent world markets into turmoil, US media said Tuesday. The FBI has set its sights on investment titan Lehman Brothers, mortgage giants Fannie Mae and Freddie Mac […]
Ex-banker Paulson faces snag in using public money to bailout banks
WASHINGTON, September 24, 2008 (AFP) – A battle over the US government’s financial rescue package heated up in Congress Tuesday, with top finance officials urging its swift passage and lawmakers digging in their heels. Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson, testifying to Congress after proposing the 700-billion-dollar bailout just days ago, […]
Sri Lanka Tamils resent surveillance in capital
September 24, 2008 (AFP) – Luxmi Wellamma fled her home in Sri Lanka’s war-torn north for what she hoped would be a safer life in Colombo. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 But the relative calm of the capital comes at a cost: […]
Weight Watching
Sept 24, 2008 (LBO) – Sri Lanka’s cooking gas retailers will have to weigh gas cylinders on a certified on-site weighing machine in the presence of customers to combat the sale of underweight cylinders, officials said. If such dealers are not allowed to sell gas, rural customers in particular may face immense difficulties by being […]
Bunker Business
Sept 24, 2008 (LBO) – Ceylon Shipping Corporation (CSC) is considering acquiring its own ship fuel supply vessel to sell bunkers in Colombo port through its joint venture with a Greek shipping family firm. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “We have started doing bunkering […]
Sri Lanka shares weaken, investors wary of earnings outlook
Sept 23, 2008 (LBO) – Sri Lankan shares weakened further Tuesday on small volumes with brokers saying investors remained concerned about the earnings outlook of listed firms. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 0.37 percent (8.23 points) to 2,230.95 […]
Circular Strategy
WASHINGTON, September 23, 2008 (AFP) – The conversion of Goldman Sachs and Morgan Stanley to regulated commercial banks marks the end of an era of independent Wall Street investment firms and a separation in the industry since the 1930s. The change, announced late Sunday by the Federal Reserve, closes the door on the last two […]