Author: lbostgadmin
Sri Lanka stocks tumble, Dialog block changes hands
Oct 20, 2008 (LBO) – Sri Lankan shares fell over 1.5 percent Monday with large trades in blue chips as fears remained that foreign investors might sell and put their money in other markets that have fallen steeply, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Forum set up to promote security of US ventures in Asia
WASHINGTON, October 19, 2008 (AFP) – The United States is to launch a forum to promote security of largely American businesses in Asia amid concerns on issues ranging from copyright piracy to terrorism threats, officials said.The forum, pushed for by US companies in the region, will be inaugurated this week under the Overseas Security Advisory […]
Sri Lanka central bank reserve outflow continues; bill stock spikes to Rs40bn
Oct 19, 2008 (LBO) – The treasury bills portfolio of Sri Lanka’s central bank topped 40 billion rupees (370 million US dollars) by mid-October, according to the latest official data, indicating a continuing drain of foreign reserves. The central bank has been defending a US dollar peg at 108 rupees and injecting money into the […]
‘s affair with employee
NEW YORK, October 18, 2008 (AFP) – The International Monetary Fund has opened an investigation of its director Dominique Strauss-Kahn and his intimate ties to a subordinate employee — an affair that echoes the scandal that ousted Paul Wolfowitz from the World Bank last year. The IMF, one of the main players in coordinating global […]
‘s Tata chief warns West Bengal of flight of industry
NEW DELHI, October 19, 2008 (AFP) – Tata group chief Ratan Tata, forced to relocate production of the world’s cheapest car from eastern India, has warned there could be a flight of capital and industry from the poverty-hit region. In an open letter to residents of communist-ruled West Bengal, Tata asked whether they wanted to […]
Philippine exporters brace for tougher times ahead
MANILA, October 19, 2008 (AFP) – The Philippines has so far escaped relatively unscathed from the global financial crisis, but its export industries are bracing themselves for tougher times ahead, analysts say.While orders for the remainder of the year still look healthy, exporters fear that going forward into 2009 the outlook might not be so […]
‘s airline sector no longer a high flyer
NEW DELHI, October 19, 2008 (AFP) – India’s aviation industry has gone from being one of the world’s high flyers to watching its fortunes plummet as it struggles to cope with surging losses.The sector, one of the most vibrant symbols of India’s economic progress, is going through its “worst-ever phase,” says Civil Aviation Minister Praful […]
Sri Lanka military says smashing major Tiger defences
October 19, 2008 (AFP) – Troops and Tamil Tiger rebels were locked in intense fighting in northern Sri Lanka Sunday after government forces smashed through the “last major defences” of the guerrillas, the military said. The rebel Liberation Tigers of Tamil Eelam (LTTE) launched “poisonous gas attacks” to blunt the military offensive aimed at capturing […]
Recession fears haunt commodity markets
LONDON, October 17, 2008 (AFP) – World commodity prices tumbled this week, with oil striking a 17-month low point under 66 dollars a barrel in London, as fears of a global recession weighed on demand for raw materials. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to […]
Indian PM concerned over civilians caught in Sri Lanka conflict
NEW DELHI, October 18, 2008 (AFP) – Indian Prime Minister Manmohan Singh Saturday told Sri Lanka he was deeply concerned about the “deteriorating humanitarian situation” in the war-torn island and urged it to protect Tamil civilians caught in the conflict.Rajapakse assured Singh “all necessary measures” were being taken to keep civilians from harm’s way in […]
Social networking sites told to warn users of weak privacy controls
STRASBOURG, October 17, 2008 (AFP) – Social networking websites were urged Friday to warn users about the low level of protection given to their profiles at a Council of Europe-organised conference on the issue. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The European Union […]
Japan to give 4.5 billion dollar loans to India rail project: report
TOKYO, October 18, 2008 (AFP) – Japan will provide India with 450 billion yen (4.5 billion dollars) in loans to help build a freight railway between New Delhi and Mumbai, a newspaper reported Saturday.The assistance will be Japan’s largest ever loan for a single construction project overseas, topping the 260 billion yen provided to India […]