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Fair Value
BRUSSELS, September 30, 2008 (AFP) – The European Union is considering a shake-up in accounting rules as part of measures aimed being drafted in response to the global financial crisis, an EU official said Tuesday.The idea is one among a series that are being looked into ahead of a high-level European economic meeting expected to […]
Reaching Out
Oct 01, 2008 (LBO) – The International Finance Corporation (IFC) is organizing a banking road show in Ratnapura, in southern Sri Lanka, to help small and medium enterprises get access to finance.“There will also be sessions on handling complex loan applications, preparing business plans and project proposals, and establishing new banking products for small and […]
Digital Identity
Oct 01, 2008 (LBO) – E-Wis, a Sri Lankan information technology firm which has been picked to automate a pension fund of a state-managed private sector workers’ fund, says the new system will trim frauds and delays in processing member information. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka to introduce energy efficiency laws
Oct 01, 2008 (LBO) – Sri Lanka’s government plans to introduce new laws to make energy efficiency improvement measures mandatory that may even extend to private homes, a senior official said.Wickramasinghe said the government aims to encourage supply side and end-use energy efficiency and the Energy Conservation Act will be amended. The authority will prepare […]
Coral-killing starfish turns out to be four species, not one
PARIS, September 30, 2008 (AFP) – The crown-of-thorns starfish, a notorious threat to coral in the Indian and Pacific Oceans, comprises four species, not one, biologists reported on Tuesday. The spiny predator, known by its Latin name of Acanthaster planci, has been a worsening peril to reefs for at least three decades, latching onto coral […]
Sri Lanka Tigers suffer heavy casualties: ministry
October 1, 2008 (AFP) – Around 30 Tamil Tiger rebels were killed and 36 wounded in the latest ground and air attacks by government forces against their north Sri Lankan stronghold, the island’s defence ministry said Wednesday.Three soldiers were killed and 14 wounded in the fighting on Tuesday, the ministry said. The military says the […]
Sri Lanka hikes defence spending for next year
Oct 01, 2008 (LBO) – Sri Lanka’s government plans to allocate 177.1 billion rupees next year for its defence forces whose campaign against the Tamil Tigers is intensifying, according to the appropriation bill published by the finance ministry. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Most […]
Privatization of first US airport could bank 2.5 billion dollars
CHICAGO, September 30, 2008 (AFP) – The privatization of the first major US airport could net the city of Chicago 2.5 billion dollars, officials said Tuesday. The 99-year lease of Chicago’s secondary airport, Midway, must still be approved by the city council and federal regulators but officials expressed confidence it would pass. “With this agreement […]
French PM says banks vulnerable, but state will step in
PARIS, September 30, 2008 (AFP) – French Prime Minister Francois Fillon has warned in an interview to appear Wednesday that the country’s banks are vulnerable given the global financial crisis, which he compared to the Great Depression.Fillon, however, said in the interview with Les Echos business newspaper that the state would not allow any banks […]
” accounting rules amidst illiquid markets
WASHINGTON, September 30, 2008 (AFP) – US regulators Tuesday offered new guidelines aimed at easing accounting rules blamed by some analysts for worsening the crisis for banks with heavy losses from mortgage securities The Securities and Exchange Commission made the announcement offering clarification to companies preparing to report their financial results for the third quarter, […]