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Sri Lanka raises US$60mn in 2-year bonds
Sept 15, 2008 (LBO) – Sri Lanka has raised 60 million US dollars in 2-year bonds at a premium of 2.895 percent above the London Interbank Offered Rate (LIBOR) to help repay a maturing 70 million US dollar bond issue, the government’s debt office said.The Central Bank said the money would go to settle a […]
Bunker Losses
Sept 15, 2008 (LBO) – Sri Lanka’s John Keells Holdings says its bunkering unit lost 20 million rupees (184,000 US dollars), because it was unable to remove all oil stocks by a court deadline of September 12, after it was ordered to vacate a tank farm.The company said oil stocks valued 45 million rupees (416,000 […]
New Printing
FRANKFURT, September 15, 2008 (AFP) – The European Central Bank (ECB) and the Bank of England (BoE) poured billions into money markets on Monday to ensure sufficient liquidity in the wake of the collapse of Lehman Brothers.He said he thought the Fed would try to avoid this step, which would be a “reversal of the […]
Latest Blow
WASHINGTON, September 15, 2008 (AFP) – US investment giant Lehman Brothers announced its bankruptcy early Monday as the Federal Reserve and major global banks moved to shore up financial market shaken by the housing and mortgage crisis.The Wall Street Journal warned in an editorial Monday that Americans should brace themselves for “a very rough Monday.” […]
Sri Lanka Taj unit gets new manager
Sept 15, 2008 (LBO) – India’s Taj Group says it has appointed a new manager to the 120-room Taj Airport Garden Hotel in Seeduwa, north of the Sri Lankan capital Colombo, which is one of three hotels run by the group in the island. Mathew C Thomas has taken over as general manager from Sanjay […]
‘s Colombo University to teach farmers online
Sept 15, 2008 (LBO) – Sri Lanka’s University of Colombo is starting an online agro technology degree program for rural farmers, with a pilot project already showing spectacular results, a senior academic said. The university will first start a certificate level course leading to a diploma and eventually a Bachelor of Science (B.Sc) degree. Each […]
Sri Lanka violence claims 21: govt
September 15, 2008 (AFP) – Fresh fighting broke out across Sri Lanka’s tense north, leaving 20 Tamil Tiger rebels and one soldier dead, the defence ministry said Monday. The ministry said 22 rebels and 14 troops were wounded in Sunday’s fighting in Weli Oya, Kilinochchi and Vavuniya. The Liberation Tigers of Tamil Eelam (LTTE) did […]
Indian shares fall 5.19 percent on opening
MUMBAI, September 15, 2008 (AFP) – Indian shares tumbled 5.19 percent within minutes of opening on Monday over fears for the global financial system as the fate of Wall Street giant Lehman Brothers hung in the balance, dealers said. The BSE benchmark 30 share Sensex index slumped 727.95 points to 13,272.86 in early morning trade. […]
Ike damaged about 10 oil platforms: US officials
WASHINGTON, September 14, 2008 (AFP) – Hurricane Ike appears to have damaged about 10 oil platforms in the Gulf of Mexico, US officials said Sunday, raising concerns that the storm could hurt oil production and lead to a spike in prices at US gas stations. Eileen Angelico, a spokeswoman with the US Mineral Management Service […]
Death watch for Lehman Brothers as no buyer emerges
WASHINGTON, September 15, 2008 (AFP) – A last-ditch effort to find a buyer for troubled Wall Street investment bank Lehman Brothers appeared near collapse Sunday in a turbulent weekend for the finance sector.As emergency weekend talks on Lehman’s woes were being held in New York, a London source at British bank Barclays, who requested anonymity, […]