All Blogs
Searching questions as Fed printing fuels inflation rather than growth
WASHINGTON, March 7, 2008 (AFP) – As more signs point to a US economy that is sinking fast, the Federal Reserve is struggling to find ways to reignite growth even as confidence wanes among consumers, businesses and banks, analysts say.“Perhaps the ultimate resolution to the problem might have to come from some governmental action not […]
Sprinter Marion Jones reports to jail
FORT WORTH, Texas, March 7, 2008 (AFP) – Former Olympic champion Marion Jones, sentenced in January to six months prison for lying about using steroids, Friday reported to a Texas jail, US Bureau of Prisons spokeswoman Traci Billingsley said. All Jones’ results since September 1, 2000, have been stricken from the records and Jones has […]
Feb expands credit facilities for distressed banks
WASHINGTON, March 7, 2008 (AFP) – The US Federal Reserve on Friday announced moves to pump 200 billion dollars into the financial system to try to contain contagion from a housing-related credit crunch that is pummeling the economy. “And there is a real possibility, given the escalating turmoil in credit markets, that the cut will […]
Sri Lanka roadside blast kills soldier: police
March 8, 2008 (AFP) – At least one soldier was killed and two others critically wounded in southern Sri Lanka Saturday when their vehicle was hit by a roadside blast, police said.The victims were being transported to hospital in the Moneragala district where several similar attacks have been reported in recent weeks, police said. There […]
Sri Lanka Tamil journalist arrested: rights group
March 7, 2008 (AFP) – A Sri Lankan Tamil columnist was detained by police Friday while the authorities were also trying to arrest another media activist, a rights group said.J. S. Tissanayagam, columnist of the Sunday Times newspaper here, was taken in for questioning by police Friday after the arrest of two more journalists on […]
Sri Lanka stocks close higher; rupee kept down
March 07, 2008 (LBO) – Sri Lanka’s stocks closed marginally higher Friday with the help of heavy trading in Sri Lanka Telecom shares, brokers said. The market All Share Index closed up 1.5 points at 2,567.79 with the more liquid Milanka Index closing up one point at 3,217.91. In forex markets the rupee briefly spiked […]
Equity Gains
March 07, 2008 (LBO) – Lanka Orix Leasing Company (LOLC) December quarter profits were boosted 250 percent with unrealized equity gains, while revenues grew 77 percent, its interim accounts and officials said. Group assets were 32 billion rupees, while LOLC’s own gross assets were 26.5 billion rupees. Group net profits grew to 485 million rupees […]
Architecture Prize
Mar 07, 2008 (LBO) – A bus terminus in rural Sri Lanka, a car showroom in the capital Colombo and a lowland forest visitor centre are vying for a million rupee award given in the name of Sri Lanka’s famed architect Geoffrey Bawa, officials said. The winner will be chosen after an on site technical […]
Fed runs out of printing steam?
PARIS, March 7, 2008 (AFP) – A senior US Federal Reserve official issued a warning here Friday against expectations the central bank might soon approve another cut in US interest rates aimed at shoring up stock market sentiment. “The Fed is taking a very pro-active stance regarding what we view as economic developments,” Richard Fisher, […]
Strong Euro, soaring gold tip Japan foreign reserves above trillion dollars
TOKYO, March 7, 2008 (AFP) – Japan’s foreign exchange reserves have topped the one-trillion-dollar mark for the first time, led by the soaring value of gold and the euro, the government said Friday.At the end of February Japan had a total of 979.17 billion dollars in foreign currency, with the rest in gold or International […]