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LawAsiaICT2008
Jan 22, 2008 (LBO) – Sri Lanka and other Asia-Pacific nations must work out common procedures to apply laws so that electronic crimes do not proliferate, the island’s top judicial officer said.“This is something that other jurisdictions can emulate,” he said. “In Malaysia we have ‘cyber city’ to get everybody together to have technology development […]
Mobile Strategy
Jan 22, 2008 (LBO) – Sri Lanka’s mobile service provider Tigo plans to rely on giving better value to increase market share and revenue and not wage a price war with rival local mobile operators, company officials said. “We do not believe that a price war will benefit anybody including the customer. There has to […]
Fed slashes US interest rates to 3.50 percent
WASHINGTON, Jan 22, 2008 (AFP) – The US Federal Reserve slashed its key federal funds short-term interest rate by three quarters of a percentage point to 3.50 percent Tuesday amid sharp falls on global stock markets. The Fed announced its move shortly before US stock markets were due to open for trading and amid increasing […]
Europe tell US to tackle the real causes of market turmoil
BRUSSELS, Jan 22, 2008 (AFP) – The European Commission’s top economic official, Joaquin Almunia, called Tuesday on the United States to tackle its deficits, which he said were the root cause of financial market turmoil. Amid concern in Europe that a US government recovery plan would not avert a recession, EU Economic and Monetary Affairs […]
Governments urge calm in face of market turmoil
PARIS, Jan 22, 2008 (AFP) – Leaders in Asia and Europe appealed for calm Tuesday and called for international cooperation in the face of a galloping global meltdown on world stock markets sparked by fears of a US recession. Asian markets experienced a day of heavy losses, with Hong Kong share prices suffering their biggest […]
Saudi shares nosedive almost 10 percent
RIYADH, Jan 22, 2008 (AFP) – The Saudi stock market, by far the largest in the Arab world, dropped sharply at the end of trading Tuesday, shedding almost the maximum permissible 10 percent on economic concerns and profit-taking.The Tadawul All-Shares Index shed 9.7 percent to finish below the 10,000-point psychological barrier on 9,338.54 points. The […]
EU warns of US recession as stocks dive
BRUSSELS, Jan 21, 2008 (AFP) – Top European finance officials sounded the alarm on Monday about a possible US recession as fears about the health of the world’s biggest economy plunged global stocks deep into the red. “The situation is continuing to deteriorate in the United States,” Luxembourg Finance Minister Jean-Claude Juncker said after chairing […]
Sri Lanka signals shift in war on Tamil Tigers
Jan 22, 2008 (AFP) – Sri Lanka’s President Tuesday signalled a shift in the war against the Tamil Tigers, saying he did not want to push his troops into rebel-held territory to defeat the guerrillas.Since the start of this month, the Sri Lanka defence ministry has claimed it has killed 592 rebels against just 26 […]
Sri Lanka pours forces into south after rebel attacks
Jan 22, 2008 (AFP) – Sri Lanka poured thousands more security forces into the Sinhalese-dominated south on Tuesday after a string of Tamil rebel attacks left 37 civilians and three police dead, officials said.Suspected rebels shot dead a police officer and two constables on Monday night near the township of Thanamalvila, police officials said.They had […]
Heavy fighting in northern Sri Lanka, police post in South attacked
Jan 21, 2008 (AFP) – Fierce fighting erupted in northern Sri Lanka Monday as government forces mounted a fresh push into territory held by Tiger rebels, with the official death toll from the new clashes at more than 50. At least 46 civilians have been killed in rebel attacks since the start of January, according […]