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Dutch bank Fortis shares plunge on asset sale reports
THE HAGUE, September 26, 2008 (AFP) – Shares in Belgian-Dutch bank Fortis fell more than 12 percent Friday, having lost some 20 percent at one stage the previous day despite its denial that it faced liquidity problems. Press reports Friday said the giant banking group was looking at asset sales of up to 10 billion […]
Late-night crisis talks in Congress break up with no deal
WASHINGTON, September 26, 2008 (AFP) – Republicans stymied a late-night session of talks designed to resurrect an enormous economic bailout package but new negotiations will be held in the morning, a top Democrat said late Thursday. Barney Frank, chairman of the House of Representatives financial services committee, said a House Republican introduced an alternative plan […]
Japanese consumer prices rise 2.4 percent in August
TOKYO, September 26, 2008 (AFP) – Japan’s inflation rate stayed at a decade high of 2.4 percent in August as soaring energy costs continued to pressure Asia’s largest economy, official figures showed Friday. Core prices rose for an 11th straight month, and at the same pace as in July, when inflation was the fastest since […]
” damage in offensive: FM
UNITED NATIONS, September 25, 2008 (AFP) – Sri Lanka government troops are wary of any “collateral” damage as they move closer to dismantling the Tamil Tigers’ de facto state, Foreign Minister Rohitha Bogollagama told AFP at the UN Thursday. “We are trying to defeat terrorism and to that extent, whatever engagement is confined,” said Bogollagama, […]
Protests in Sri Lanka Ponzi capital
Sept 26, 2008 (LBO) – Protests erupted against authorities in a sleepy Sri Lankan fishing village which can almost lay claim to be the Ponzi capital of the world, after a financier in the area was blacklisted as running an illegal business, police and residents said. The Central Bank of Sri Lanka named Piyadasa Ratnayake, […]
Sri Lanka lease-backed security retains rating: Fitch
Sept 26, 2008 (LBO) – A lease-backed security issued by Sri Lanka’s People’s Leasing Company, using a trust mechanism, has retained its ‘A-(lka)’ rating which is the same as the originator, Fitch Ratings said.While credit enhancements were enough to support a higher rating, Fitch says there was an unhedged interest rate risk on the floating […]
Sri Lanka John Keells in share buyback
Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]
Sri Lanka NSB to raise US$100mn loan
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]
Sri Lanka T-bill rates spike
Sept 25, 2008 (LBO) – Sri Lanka’s Treasury bill yields spiked at Wednesday’s auction while the government resumed sales of 3-month bills, the government’s debt office said.The 12-month bill yield also spiked 72 basis points 19.06 percent. The government raised 525 million rupees selling 3-month bills at 17.22 percent after an absence of several weeks. […]
Sri Lanka shares weaken further
Sept 25, 2008 (LBO) – Sri Lankan shares weakened further Thursday, dragged down by falls in blue chips as small investors stayed away, unable to make gains in a stagnant market, brokers said.It fell 25 cents to end at nine rupees with 619,700 shares traded. LIOC was the second most actively traded stock.It fell 75 […]