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Fed set to slash rates to battle banking liquidity crisis
WASHINGTON, March 18, 2008 (AFP) – The US Federal Reserve opened a meeting Tuesday tipped to cut interest rates sharply as part of a multi-pronged effort to halt a mushrooming financial crisis, analysts say.Just two days after the US central bank engineered a dramatic bailout of collapsing investment bank Bear Stearns, the Federal Open Market […]
French rogue trader released: legal source
PARIS, March 18, 2008 (AFP) – A Paris court on Tuesday ordered the release of rogue trader Jerome Kerviel while investigators probe a multi-billion-dollar scandal at Societe Generale bank, a legal source said.The 31-year-old junior trader has been in detention since February 8. Societe Generale has blamed trades made by Kerviel for mammoth losses of […]
World reacts slowly on Tibet, but protests grow
HONG KONG, March 18, 2008 (AFP) – The international community has reacted cautiously to the unrest in Tibet, urging restraint from both Beijing and Tibetans, even as street protests condemning China have grown in recent days.“We have really urged the Chinese over several years to find a way to talk with the Dalai Lama, who […]
Oil eases from record highs
SINGAPORE, March 18, 2008 (AFP) – Oil prices retreated from record highs of almost 112 dollars in Asian trading Tuesday on worries energy demand would be affected by the financial market turbulence in the United States, dealers said. “The market could become even more vulnerable to selling due to the deteriorating economic conditions, as well,” […]
US dollar plumbs new depths as intervention talk swirls
NEW YORK, March 17, 2008 (AFP) – The US dollar plumbed fresh record lows against the euro Monday as fears about America’s financial system spiked following a near collapse of Bear Stearns, prompting speculation about a possible central bank intervention. The single European currency briefly soared to a record 1.5905 dollars in Asian trading before […]
Japan govt to present new nomination for central bank chief
TOKYO, March 18, 2008 (AFP) – Japan’s government is set to present a new nomination for central bank chief to parliament Tuesday, the eve of the incumbent governor’s departure, a parliament official said. The ruling Liberal Democratic Party proposed Monday that Fukui carry on for an unspecified period of time, but the opposition rejected the […]
Sri Lanka make most of inexperienced attack in warm up
PROVIDENCE, Guyana, March 17, 2008 (AFP) – Malinda Warnapura and Sri Lanka captain Mahela Jayawardene warmed-up for the first Test against West Indies later this week when they took advantage of an inexperienced Guyana Cricket Board President’s Select XI attack on Monday. Warnapura retired out on 132 and Jayawardene was dismissed for 99, as the […]
Sri Lanka boosts blast probe capabilities
Mar 18, 2008 (LBO) – Sri Lanka’s capacity to counter and investigate bomb blasts has been boosted with new equipment from the United States, the island’s police chief said Tuesday. “We were waiting for this type of post blast investigation equipment,” Inspector General of Police Victor Perera said after receiving a stock of hi-tech equipment […]
Sri Lanka says soldier killed in roadside bombing
March 18, 2008 (AFP) – A Sri Lankan soldier was killed and two others wounded in a roadside bomb attack in the island’s north Tuesday, the defence ministry said.The victims were on a mine-sweeping operation in the district of Mannar when they were caught up in the blast, the ministry said in a statement. The […]
Sri Lanka stocks close lower despite Telecom rush
March 17, 2008 (LBO) – Sri Lanka shares closed lower, despite strong interest in Sri Lanka Telecom which saw turnover boosted to 1.2 billion rupees and 18 million shares traded, dealers said.The benchmark All Share Index closed 0.76 percent lower (19.47 points) at 2,546.56 points while the Milanka Index of liquid stocks slid 0.74 percent […]