Author: lbostgadmin
Dollar gains despite rejection of bailout plan
NEW YORK, September 29, 2008 (AFP) – The euro and the pound slid against the dollar Monday after the rescue of several European banks deepened worries about the global financial system. The currency market showed little reaction off US lawmakers’ rejection of a 700-billion-dollar financial rescue plan touted by President George W.Bush’s administration as vital […]
Asian stocks dive as panic sweeps global markets
TOKYO, September 30, 2008 (AFP) – Stocks plunged in Asia Tuesday as fears of escalating financial turmoil triggered panic selling on world markets after Washington policymakers unexpectedly shot down a US financial rescue plan. In Tokyo and Hong Kong stocks were some five percent in the red despite calls from policymakers for markets to keep […]
World awaits action after US rejects bailout
WASHINGTON, September 30, 2008 (AFP) – Treasury Secretary Henry Paulson warned US lawmakers they had to act fast after the House rejected his 700-billion-dollar bank bailout, triggering panic selling as the global financial crisis deepened. Stock markets around the world plunged after US House members, wary an angry public will punish them on Election Day […]
Europe scrambles to save banks from meltdown
PARIS, September 30, 2008 (AFP) – As the shockwave from the US financial meltdown battered Europe on Tuesday, governments scrambled to shore up fragile banks and restore confidence to flighty stock markets. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 In Paris, President Nicolas Sarkozy held a […]
Sri Lanka navy sink rebel boats, kill 8: military
September 30, 2008 (AFP) – A Sri Lanka navy patrol destroyed two Tamil Tiger boats, killing eight rebels on board, in a clash at sea off the island’s northern Pooneryn region, the defence ministry said Tuesday. The navy did not give its own losses during the battle, which occurred late Monday.The Liberation Tigers of Tamil […]
Sri Lanka military says rebel air strip captured
September 30, 2008 (AFP) – Government troops have captured a runway operated by Tamil Tiger rebels inside the guerrillas’ mini-state in the north, Sri Lanka’s defence ministry said Tuesday.Tens of thousands have died on both sides of the conflict. “Troops have captured the second LTTE (Liberation Tigers of Tamil Eelam) runway, which is 500 meters […]
Slim Prices
Sept 30, 2008 (LBO) – Sri Lanka’s Dialog Telekom, a unit of Telekom Malaysia said it had bagged five million subscribers, started per second billing and cut tariffs for calls within the network. A new post-paid package give 1,000 free minutes withing the network and per-second billing. Prepaid customers would also get per-second billing and […]
Legal Action
Sept 30, 2008 (LBO) – Sri Lanka’s lawyers are to protest in front of the main court complex in the capital Colombo while condemnation poured in, after an attack on the residence of a top anti-corruption activist and fellow attorney. “We fear that we cannot ignore this situation any further and allow it to escalate […]
Paper Issue
Sept 30, 2008 (LBO) – Sri Lanka’s Mercantile Investment Limited (MIL), a registered finance company, is raising 100 million rupees through a commercial paper which has been given a rating of ‘P1’, RAM Ratings said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 RAM Ratings said MIL […]
Sri Lanka bond markets illiquid after rate spike
Sept 30, 2008 (LBO) – Trading in Sri Lanka’s bond markets dried up Tuesday as market participants took stock of a sudden spike in rates at an auction a day earlier, amidst turmoil in international markets, dealers said.The government sold a bond maturing in July 2012 at 19.09 percent on Monday, up steeply from an […]
Sri Lanka central bank rejects all bids at auction
Sept 30, 2008 (LBO) – Sri Lanka’s central bank rejected an entire Treasury Bill auction on Tuesday bringing back memories of dark days in June 2007 when two auctions were absorbed by the central bank, and the country was plunged into a currency crisis soon after. The central bank was however in the market later […]
‘s residence
Sept 29, 2008 (LBO) – The United States has condemned an attack on the residence of anti-corruption activist and human rights lawyer J C Weliamuna, calling on authorities to launch an immediate investigation.Weliamuna is also the executive director of the Sri Lanka branch of Transparency International, an anti-corruption watchdog body. A grenade was thrown into […]