Author: lbostgadmin
Indonesian ex-central bank governor gets five years for graft
JAKARTA, October 29, 2008 (AFP) – A former governor of Indonesia’s central bank was sentenced to five years in jail and a relative of President Susilo Bambang was named a suspect Wednesday in a snowballing corruption scandal. Burhanuddin Abdullah was convicted in the anti-corruption court of embezzling 10.3 million dollars in bank funds to bribe […]
Sri Lanka Tiger aircraft hit power station
Oct 29, 2008 (LBO) – Sri Lanka’s Tamil Tiger guerrilla aircraft struck a key power station in the capital Colombo in a night raid, and bombed a military camp in the northeastern Mannar area, in two attacks Tuesday, officials said. Anti-aircraft fire lit up the night sky soon after power was cut to the capital. […]
Ex-political prisoner beats veteran Maldives leader: official
MALE, October 29, 2008 (AFP) – Ex-political prisoner Mohamed “Anni” Nasheed beat Asia’s longest serving leader, Maumoon Abdul Gayoom, in the Maldives’ first democratic presidential election, official results showed Wednesday. The elections are the climax of an effort to bring political freedoms to the Indian Ocean archipelago in the wake of pro-democracy protests and international […]
Net Billing
Oct 29, 2008 (LBO) – Sri Lankan fixed access provider Lanka Bell said it would pay subscribers that receive overseas calls 50 cents a minute, setting the stage for competition in the incoming call business. Corporate users would also benefit substantially by making Lanka Bell their choice for incoming IDD calls, Samarasinghe said. Under an […]
Watching Brief
Oct 29, 2008 (LBO) – Sri Lanka’s credit information bureau has got new powers to track utility bills, insurance and pension fund payments, under an amendment to its law passed in parliament. Credit Information Bureau (CRIB) officials said the legal amendments and modernisation of its information system will enable it to collect information on any […]
Cash Call
Oct 29, 2008 (LBO) – Sri Lanka’s Sampath Bank said in a stock exchange filing that it has called off a rights issue after shareholders voted against it at an extraordinary general meeting Wednesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The one for four rights […]
Sri Lanka shares held up by gains in large cap stocks
Oct 29, 2008 (LBO) – Sri Lankan shares ended marginally firmer Wednesday, held up by gains in highly capitalized stocks, but sentiment remained weak as the outlook for economic and company growth was gloomy, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka private sector workers offered tax break to keep money in g-secs
Oct 29, 2008 (LBO) – Sri Lanka said it will give a tax refund to private sector retirees if they continue to keep their money in government securities after they retire and withdraw money from a state-controlled fund. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Under […]
With debt mounting, new US president to face tough choices
WASHINGTON, October 28, 2008 (AFP) – The next US president will inherit a mountain of debt from the latest government bailouts, making it difficult to implement new programs promised during the campaign, analysts say. The government closed its books on the 2008 fiscal year September 30 with a record deficit of 455 billion dollars, and […]
Iceland raises rates to 18.0-pct after currency collapse
REYKJAVIK, October 28, 2008 (AFP) – Iceland jacked up its key interest rate to 18 percent and announced a request for help from the European Central Bank and the US Federal Reserve in twin moves on Tuesday to stave off national bankruptcy. “Iceland’s central bank sent a request to the ECB, the Fed and the […]
England invites West Indies to replace Sri Lanka for tour
KINGSTON, October 27, 2008 (AFP) – The England and Wales Cricket Board (ECB) has invited West Indies to replace Sri Lanka in a tour of England next April and May for a test series and one-day internationals. The series would follow England’s visit to the West Indies from January to April of next year and […]
British central bank urges reform
LONDON, October 28, 2008 (AFP) – Britain’s central bank urged new constraints on banks Tuesday to avoid a repeat of the financial crisis, saying there needed to be a “fundamental rethink” of how the institutions manage risk. The Bank of England warned banks had overextended themselves during the economic boom years, lending out more than […]