Author: lbostgadmin
Sri Lanka minister escapes suicide bomb attack
Oct 09, 2008 (LBO) – Sri Lanka’s agriculture minister Maithripala Sirisena escaped an assassination attempt Thursday when a suspected Tamil Tiger suicide bomber blew herself up near his vehicle, the defence ministry said. Police spokesman Ranjith Gunasekera said the minister was unharmed. The only fatality was the female suicide bomber. The defence ministry initially said […]
No clear winner from landmark Maldives election
MALE, October 9, 2008 (AFP) – The first-ever democratic presidential election in the Maldives looked set to go into a second round after Asia’s longest-serving leader apparently failed to deliver a knock-out blow to his rivals. Official results based on roughly two-thirds of ballots cast showed incumbent President Maumoon Abdul Gayoom — who has run […]
Sri Lanka to set up more waste disposal sites
Oct 09, 2008 (LBO) – Sri Lanka has approved two waste disposal sites with private sector participation to handle garbage generated in the densely populated western province which houses the capital, Colombo, a minister said. Yapa said the Burns would operate the waste site with two other partners. Burns, which had a concession from the […]
Bank Rating
Oct 09, 2008 (LBO) – Fitch Ratings Lanka has affirmed the National Long-term rating of DFCC Bank (DFCC) at ‘AA(lka)’ with a stable outlook.The rating agency has also affirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’ (AA minus (lka)). Fitch said the ratings reflect DFCC’s strong capital base and sustained high profitability. […]
Postal Banking
Oct 09, 2008 (LBO) – Sri Lanka’s DFCC Vardhana Bank has struck a deal with Sri Lanka Post to use its post offices to reach more banking customers which also helps the government postal agency to cut huge losses. DFCC Vardhana Bank opened five new banking units in Sri Lanka Post offices branches in the […]
Sri Lanka shares slump, JKH, Distilleries down sharply
Oct 09, 2008 (LBO) – Sharp falls in blue chips dragged down Sri Lanka’s share market Thursday with the main index at one point plunging below the 2,000 point mark as investor sentiment weakened amid global financial turmoil, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Major central banks cut rates to head off deflationary collapse
Oct 08, 2008 (LBO) – Major reserve currency central bank led by the Federal Reserve, European Central Bank, Bank of England joined by Swiss and Swedish authorities cut rates by 50 basis points in a bid to head off a deflationary collapse of the global economic system. With interest rates already low the Bank of […]
UN chief rails against suicide attacks in Sri Lanka
UNITED NATIONS, October 7, 2008 (AFP) – UN chief Ban Ki-moon on Tuesday condemned the latest suicide attacks in Sri Lanka, including one which killed at least 27 people.The attack in the northern town of Anuradhapura came as the Sri Lankan military appeared on the verge of capturing the rebel Tigers’ key headquarters as part […]
Wall Street lose 500 points to slips to five-year low
NEW YORK, October 7, 2008 (AFP) – Stocks plunged for a second day running on Wall Street on Tuesday, while those in Europe were mixed, on persistent anxiety over the health of the banking sector — and despite central bank initiatives to shore up confidence. Wall Street opened with solid gains, bolstering both spirits and […]
US candidates eye Warren Buffett as possible Treasury chief
NASHVILLE, October 8, 2008 (AFP) – Democratic White House hopeful Barack Obama and his Republican rival John McCain Tuesday agreed that one of the world’s richest men, Warren Buffett, would make a good treasury secretary. The two were asked at the beginning of their second presidential debate who would be a good replacement for current […]
McCain hits hard but debate lacks game-changer
NASHVILLE, October 8, 2008 (AFP) – John McCain hammered away at unruffled front-runner Barack Obama in Tuesday’s second presidential debate but failed to land the cutting blow likely to revive his sliding poll numbers. Gallup’s daily tracking poll Tuesday reflected the high stakes for McCain, giving Obama a nine point lead nationally, while the Democratic […]
Arab stock markets join global rout
KUWAIT CITY, October 8, 2008 (AFP) – Gulf stock markets tumbled for the fourth day running on Wednesday amid growing fears that policymakers may be powerless to stop the worst financial shock since the Great Depression. The plunge slashed many more billions from the combined value of regional markets to add to enormous losses chalked […]