Author: lbostgadmin
Sri Lanka stocks slide gathers momentum
Oct 21, 2008 (LBO) – The slide in Sri Lankan shares deepened Tuesday with sharp falls in blue chips and trading volumes increasing, brokers said.Dialog Telekom closed flat at eight rupees Bartleet Mallory Stockbrokers said price losers significantly outdid price gainers by 118 to 11 in Tuesday’s trading. They said in their market report that […]
Sri Lanka central bank says inflation will fall till November
Oct 20, 2008 (LBO) – Sri Lanka’s central bank says consumer inflation, which fell to 24.3 percent in September, will continue to fall till November in the light of tight policy in 2008 and falling global commodity prices. Central Bank governor Nivard Cabraal told LBO earlier this month that he expected inflation to be slightly […]
”’ is forgiven
PARIS, October 20, 2008 (AFP) – IMF chief Dominique Strauss-Kahn’s had only a “one-night stand” with a member of the world finance body’s staff, his wife insisted Sunday as the French establishment rallied round the former socialist minister. “We have moved on,” said television journalist Anne Sinclair, insisting in her personal blog that she still […]
French bank chairman quits over 800 million dollar trading loss
PARIS, October 20, 2008 (AFP) – The chairman and director general of the French bank Caisse d’Epargne quit Sunday over an 800 million dollar derivative trading loss at the height of the global finance crisis. Chairman Charles Milhaud said in a statement after an emergency supervisory board meeting that he was taking full responsibility for […]
Societe Generale bank shares slump on recapitalisation rumours
PARIS, October 20, 2008 (AFP) – Shares in French bank Societe Generale slumped in morning trading here on Monday, showing a loss of 10.17 percent to 40.69 euros on rumours that the bank needs new capital. The shares showed a loss of about 12.0 percent at one point. The overall Paris market was showing a […]
India faces “temporary slowdown” from global turmoil: PM
NEW DELHI, October 20, 2008 (AFP) – India must brace itself for slower growth due to worldwide financial turmoil, Prime Minister Manmohan Singh warned Monday, as the central bank cut a key lending rate to shore up the economy.India was experiencing the “ripple effects” of the worst financial crisis in nearly 80 years and “must […]
Sri Lanka says no EU rights probe; state help for exporters to improve productivity
Oct 20, 2008 (LBO) – Sri Lanka has rejected a European Union demand to conduct a probe on human rights and child soldiers, but will give exporters state help to tide over a shock from loss of trade concessions, a senior minister said. The European Union has asked that Sri Lanka comply with international conventions […]
Sri Lankan actuaries form professional body to meet growing demand
Oct 20, 2008 (LBO) – Sri Lankan actuaries, business professionals who analyse the financial consequences of risk, have banded together to form a professional body called the Actuarial Association of Sri Lanka (AASL). It aims to popularise the profession to meet growing national demand and help with the development of the local financial services sector, […]
Sri Lanka Tigers blunt military drive to capture powerbase
October 20, 2008 (AFP) – Dogged resistance by Tamil Tiger guerrillas appears to have held up a Sri Lankan military offensive in the north aimed at smashing the rebels’ de facto state, analysts and military sources say. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Sri Lanka says 44 combatants killed in latest fighting
October 20, 2008 (AFP) – At least 33 Sri Lankan government soldiers and 11 Tamil Tiger rebels have been killed in the latest heavy fighting in the north of the island, the defence ministry said Monday. Government forces also suffered at least 48 soldiers wounded and another three soldiers missing in the latest battles with […]
State Props
PARIS, October 19, 2008 (AFP) – Nations around the world took new emergency steps Sunday to shore up the international banking system and restore investor confidence, as a yawning finance crisis continued to roil global markets. The crisis led Sunday to the ouster of the top brass at a top bank in France and prompted […]
Southern Shipping
Oct 20, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is to invite investments from the private sector early next year to set up business in a new port being built in the southern region.Wickrema said the SLPA will invite proposals for businesses in the port such as warehousing, and cement and fertiliser manufacture. […]