Author: lbostgadmin
‘s arms-trafficking trade
KIEV, October 2, 2008 (AFP) – The pirate hijacking of a Ukrainian cargo ship loaded with tanks off Somalia has refocused attention on arms-trafficking by the former Soviet republic, one of the world’s 10 biggest arms exporters.Experts say Ukraine has greatly improved arms-export controls after a string of scandals but remains a potential source of […]
Belgian customs seize record haul of fake pills, from India
BRUSSELS, October 2, 2008 (AFP) – Customs authorities at Brussels airport have seized over two million counterfeit medical pills from India which were bound for Africa, the biggest such seizure ever in Europe, officials said Thursday. Blister packs of the fake medications — copies of Tramal, a strong analgesic made by German pharmaceutical company Grunenthal, […]
‘s north to get UN food
Oct 02, 2008 (LBO) – A convoy of 51 food trucks accompanied by United Nations officials Thursday left Sri Lanka’s northern Vavuniya town to areas further north that are held by the Tamil Tigers, a minister said. The trucks are carrying essential foods items such as rice, lentils and sugar. Relief minister Rishad Badurdeen said […]
” opportunities
Oct 02, 2008 (LBO) – Growing consumer demand in Western markets for environmentally-friendly products provide new opportunities for Sri Lankan businesses, a European Union official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The opportunities arise through increasing EU efforts to cut greenhouse gas emissions that […]
Bows Out
Oct 02, 2008 (LBO) – Sri Lanka’s former finance ministry secretary P B Jayasundera, who resigned as chairman from national carrier Sri Lankan Airlines, says he will be taking a break before taking up any new assignments. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Jayasundera told […]
Sri Lanka shares hold their ground
Oct 02, 2008 (LBO) – Sri Lankan shares ended several days of falls to close marginally firmer Thursday but on very small volumes with investors still cautious owing to uncertainty in the global and local economy, brokers said. Lanka Cement closed up 25 cents at 11.25 with 124,100 shares traded. The company’s stock has been […]
Sri Lanka port mulls hedging yen loans to avoid forex losses
Oct 02, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is considering hedging its yen loans after suffering losses owing to currency fluctuations, its acting chairman Priyath Bandu Wickrema said. The SLPA is heavily overstaffed because successive governments have recruited supporters to gain votes. To receive instant alerts from LBO on your Dialog mobile […]
Sri Lanka rupee up after opening on state intervention
Oct 02, 2008 (LBO) – The Sri Lanka rupee which opened at 108.20/35 against the greenback gained ground amid official intervention, with a state bank which usually acts for the central bank selling dollars at 108.00 rupees, dealers said. Meanwhile money markets remained tight with the overnight call rates at 19.00/19.50 percent levels and market […]
Sri Lanka central bank says money targets achieved amid reserve outflow
Oct 01, 2008 (LBO) – Sri Lanka’s central bank said it had achieved reserve money targets set for the September quarter amid a reserve outflow that has made it increase domestically injected liquidity to maintain reserve money. Such actions, characteristic of maintaining a pegged exchange rate, known as ‘sterilized intervention’ can easily stampede a country […]
US Senate to vote Wednesday on bailout package
WASHINGTON, October 1, 2008 (AFP) – The US Senate will vote Wednesday evening on a revised 700 billion dollar Wall Street bailout, after the House of Representatives sparked economic turmoil by rejecting the original package. A Democratic Senate aide speaking on condition of anonymity confirmed the surprise vote would go ahead and the bill is […]
” accounting rules amidst illiquid markets
WASHINGTON, September 30, 2008 (AFP) – US regulators Tuesday offered new guidelines aimed at easing accounting rules blamed by some analysts for worsening the crisis for banks with heavy losses from mortgage securities The Securities and Exchange Commission made the announcement offering clarification to companies preparing to report their financial results for the third quarter, […]
French PM says banks vulnerable, but state will step in
PARIS, September 30, 2008 (AFP) – French Prime Minister Francois Fillon has warned in an interview to appear Wednesday that the country’s banks are vulnerable given the global financial crisis, which he compared to the Great Depression.Fillon, however, said in the interview with Les Echos business newspaper that the state would not allow any banks […]