Author: lbostgadmin
State Support
Oct 06, 2008 (LBO) – Fitch Ratings Lanka has confirmed Sri Lanka’s People’s Bank (PB) national long-term ‘A-(lka)’ rating with a ‘positive’ outlook and the bank’s other ratings at Support ‘4’ and Individual ‘E’. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The Long-term and Support ratings […]
Global Jitters
LONDON, October 6, 2008 (AFP) – World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis. London, Frankfurt and Paris all tumbled more than six percent approaching the half-way mark while a 15-percent dive in Moscow forced a halt to […]
Port Moves
Oct 06, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) intends to build and operate a container terminal in the planned new deep-draft port being built next to Colombo’s existing harbour, its acting chairman Priyath Bandu Wickrema said. The project team and cabinet-appointed negotiating committee had finalised the fresh bid document for the new […]
Sri Lanka shares end flat as speculators chase Maskeliya
Oct 06, 2008 (LBO) – Sri Lankan shares ended flat Monday, with small investors chasing Maskeliya Plantations on speculation of a takeover, brokers said. He said the market is likely to remain “sluggish” in the near term in the absence of any market moving news or rumours that could affect the prices of individual stocks. […]
Sri Lanka shares flat; speculators chase Maskeliya
Oct 06, 2008 (LBO) – Sri Lankan shares ended almost flat Monday, with small investors chasing Maskeliya Plantations on speculation of a takeover, brokers said. The indices ended mixed with Sri Lanka Telecom going up 25 cents being the main reason for the Milanka to go up while other key shares remaining flat. To receive […]
”s industrial drive
NEW DELHI, October 5, 2008 (AFP) – A decision by the giant Tata Group to shift a factory building the world’s cheapest car after angry farmer protests has refueled debate about India’s troubled industrialisation push.The company said late last week it was pulling the Nano car project out of West Bengal state, even though the […]
UAE firms start pumping Kurdish gas over Iraq objections
DUBAI, October 5, 2008 (AFP) – United Arab Emirates-based firms Dana Gas PJSC and Crescent Petroleum announced that they had begun producing gas under a deal with Iraq’s autonomous Kurdish region over Baghdad’s objections. The firms said that, following completion of the project’s first phase, they expected to supply 75 million cubic feet (2.25 million […]
Germany guarantees all private savings accounts: ministry
BERLIN, October 5, 2008 (AFP) – The German government has offered an unlimited guarantee for all private savings accounts, a finance ministry spokesman told AFP Sunday, amid the spreading financial crisis. German Chancellor Angela Merkel said earlier in a statement to reporters: “We tell all savings account holders that your deposits are safe. The federal […]
”’ delight
LONDON, October 5, 2008 (AFP) – British department store Selfridge’s on Sunday launched a new up-scale chocolate treat — the “Credit Crunch” — for shoppers looking for comfort food amid the international financial crisis. “Although people might be looking to spend a little less at the moment, they still want to treat themselves to the […]
‘s Tigers face biggest loss in 13-years
October 5, 2008 (AFP) – The widely expected fall of the Tamil Tigers’ political capital would mark the separatists’ biggest loss in 13 years, but analysts believe Sri Lanka’s drawn out ethnic conflict is far from over.Government forces say they are steadily advancing on the town of Kilinochchi in an offensive that began over a […]
Housing Woes
Oct 05, 2008 (LBO) – Sri Lanka’s HDFC Bank, a state-backed mortgage lender, has been downgraded a notch from ‘A-(lka)’ to ‘BBB+(lka)’, on rising interest costs, with the outlook remaining ‘negative’, Fitch Ratings has said. Fitch also downgraded 250 million rupees of senior unsecured debentures due in 2010, 2015 and 2020 it issued in 2005, […]
Honest Broker
Oct 05, 2008 (LBO) – US Treasury Secretary Henry Paulson’s request from lawmakers for 700 billion dollars to bailout Wall Street banks, including one he was formerly chief executive of, Goldman Sachs, has spawned an American version of the Nigerian letter. This is a matter of great urgency. We need blank check. We need funds […]