All Blogs
Davos adopts the caring face of capitalism
DAVOS, Switzerland, Jan 25, 2008 (AFP) – Corporate responsibility rather than profit was set to take centre stage in Davos on Friday, as the annual get-together of business chiefs turns its attention to issues of health, aid and development.“If every company here, if every country represented here would decide to divest from Iran, that can […]
”: lawyer
PARIS, Jan 24, 2008 (AFP) – The trader blamed for the near five-billion-euro fraud at French banking giant Societe Generale is “not on the run”, his lawyer said Thursday.The Paris prosecutor’s office opened a preliminary investigation into the scandal while scores of shareholders lodged suit against the bank for fraud and misconduct. “I can confirm […]
Sri Lanka to hold local polls in east after 14 years
Jan 25, 2008 (LBO) –Sri Lanka’s elections department announced Friday plans to hold local council polls in the island’s eastern region on March 10, the first time in 14 years that voters in the troubled area will be able to vote. Submission of nominations for municipal and urban council polls in the eastern province was […]
Sri Lanka stocks lose momentum
Jan 24, 2008 (LBO) — Sri Lanka stocks closed lower Thursday losing some of the gains made a day earlier after a hideout of Tamil Tiger leader Vellupillai Prabhakharan was bombed. The All Share Index closed 0.64 percent lower, falling 15.68 points to 2,436.71 and the liquid Milanka index closed 0.78 percent or 24.61 points […]
Rubber Cheques
Jan 24, 2008 (LBO) — One in ten cheques issued in Sri Lanka bounces and account holders are writing dud cheques with impunity despite it being a criminal offense, a top central banker said.Central Bank deputy governor Ranee Jayamaha says nine percent of the 250,000 cheques, especially in the Colombo area sent for clearing are […]
Shattered Hopes
DUBAI, Jan 24, 2008 (AFP) – A Sri Lankan maid, in transit on her way home from Kuwait to see her children for the first time in three years, hanged herself in a toilet at Dubai airport, an Emirati daily said on Thursday.The report came just two days after the oil-rich Gulf states reached agreement […]
LawAsiaICT2008
Jan 24, 2008 (LBO) — Sri Lankan regulators should look for all options to bring down the cost of mobile phone ownership as the industry has emerged as a key driver of economic growth, the head of the island’s top celco has said.Business drivers in emerging markets like Sri Lanka need to make services more […]
Digital TV
Jan 24, 2008 (LBO) – Mobile operator Dialog Telekom’s digital broadcasting of terrestrial television via standard broadcast frequencies will be less costly for content providers and increase reception throughout Sri Lanka, company officials said. Dialog’s Terrestrial Digital Video Broadcasting (DVB-T) pilot project was launched Wednesday covering areas north of the capital Colombo like the Wattala […]
Rogue trader hits Societe Generale with 7 billion dollar loss
PARIS, Jan 24, 2008 (AFP) – Trading in shares of Societe Generale was supended on Thursday after the French banking giant announced a sole trader was responsible for racking up 4.9 billion euros (7.15 billion dollars) in losses. Societe Generale announced earlier Thursday that a single trader was responsible for a massive 4. 9 billion […]
‘s economic growth hits 13-year high amid inflation fears
BEIJING, Jan 24, 2008 (AFP) – China’s economy grew a blistering 11.4 percent in 2007, reaching its highest level in 13 years, the government said Thursday, warning more needed to be done to address the rising threat of inflation. China’s policy-makers have long complained that consumption is too small and the savings rate too high, […]