Author: lbostgadmin
Dutch bank Fortis shares plunge on asset sale reports
THE HAGUE, September 26, 2008 (AFP) – Shares in Belgian-Dutch bank Fortis fell more than 12 percent Friday, having lost some 20 percent at one stage the previous day despite its denial that it faced liquidity problems. Press reports Friday said the giant banking group was looking at asset sales of up to 10 billion […]
Canadian scientists discover oldest rocks on Earth
WASHINGTON, September 26, 2008 (AFP) – The oldest rocks on Earth have been discovered in Canada, offering scientists a glimpse at the origins of the planet, announced scientists in a study to be published Friday. The rocks, found in a belt of ancient bedrock in Quebec, are estimated to be 4.28 billion years old. The […]
Sri Lankan troops on outskirts of Tamil Tiger HQ: army chief
COLOMBO, September 25, 2008 (AFP) – Sri Lankan government forces have advanced to the outskirts of the northern Tamil Tiger rebel capital of Kilinochchi, the army chief announced Thursday. The government, which pulled out of a Norwegian-brokered ceasefire in January, wants to capture the town and deal what would be a major military and psychological […]
Sri Lanka warring parties warned by European Commission
Sept 26, 2008 (LBO) – The European Commission has warned both sides in Sri Lanka’s ethnic conflict against human rights abuses, saying Tamil Tigers were resorting to summary executions and urging the government to ensure relief supplies to refugees. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Funny Money
Sept 26, 2008 (LBO) – Sri Lanka’s central bank has named six entities as illegally taking money from the public and engaging in lending or investment activities, including a recently collapsed firm. The central bank said Okanda Finance (Pvt) Ltd of Waidya Road, Dehiwela, Nadini Finance (Private) Limited of 17, Reality Plaza, Colombo Road, Ja- […]
Reduced Sentence
Sept 26, 2008 (LBO) – Despite Sri Lanka™s high primary school enrollment rate, large numbers drop out owing to weaknesses in the system, with many taking to crime, organizers of an education exhibition said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The island’s primary school net […]
‘s Pizza Hut withdraws tainted Fonterra cheese
TAIPEI, September 26, 2008 (AFP) – Taiwan’s Pizza Hut said Friday it had pulled grated cheese from its outlets after they were found to contain unacceptably high levels of the industrial chemical melamine. “Our delivery shops island-wide have stopped supplies of the grated cheese after tests for melamine showed higher than the allowed levels. We […]
Another One
WASHINGTON, September 26, 2008 (AFP) – US bank JPMorgan Chase took over struggling Washington Mutual for 1.9 billion dollars, the US Federal Deposit Insurance Agency (FDIC) announced late Thursday.The acquisition creates the largest US depository institution with more than 900 billion dollars in customer deposits, the FDIC said in a statement. In the deal, JPMorgan […]
Rural Finance
Sept 26, 2008 (LBO) – Fitch Ratings Lanka said it is maintaining the Rating Watch on the National Long-term ratings of six Sri Lankan state-owned Regional Development Banks (RDBs) which are being merged. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The required amendments to the RDB […]
Safe Bet
Sept 26, 2008 (LBO) – The United States has guaranteed 540 million rupees of conflict area credit in Sri Lanka by a domestic leasing firm to bring finance into the island’s eastern province which had seen intense fighting until recently.The USAID guarantee will be effective for three years from October 1, 2008, to September 30, […]
Sri Lanka shares sink again
Sept 26, 2008 (LBO) – Sri Lankan shares sank again Friday as investors remained on the sidelines with a big deal CT Land Development propping up turnover on an otherwise dull day, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Sri Lanka John Keells in share buyback
Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]