Author: lbostgadmin
US presidential hopeful Ron Paul slams stimulus package, Fed rate cuts: report
Jan 27, 2008 (LBO) – Republican presidential hopeful Ron Paul has slammed a US economic stimulus package based on tax-refunds and called for fiscal prudence and less Federal Reserve money printing, which caused the current turmoil in the first place. . Related video: Ron Paul taking on Fed Chairman Ben Bernanke. Paul says the actual […]
Sri Lanka risks credit downgrade from US fallout: S&P
Jan 28, 2008 (LBO) – Sri Lanka is at risk of a credit downgrade from a recession in the United States, especially if domestic policies become more expansionary, the ratings agency Standard and Poor’s (S&P) said. Sri Lanka has a B+ rating with a ‘stable’ outlook. “Sri Lanka would face the global slowdown from a […]
SG says rogue trader had fictitious counterparties; lawyers protest innocence
PARIS, Jan 27, 2008 (AFP) – French investigators on Sunday extended the detention of accused rogue trader Jerome Kerviel over a seven-billion-dollar fraud as Societe Generale revealed he had been gambling with more than 73 billion dollars in deals when caught.“What happened at Societe Generale is certainly not a disaster that resulted from our strategy. […]
Plane hits speeding calf
JAKARTA, Jan 28, 2008 (AFP) – An airliner with 141 passengers hit a calf while landing at an airport in Indonesia’s easternmost province of Papua, the state Antara news agency reported Monday.The Merpati Nusantara Airlines Boeing 737 was landing at Merauke airport in southwest Papua when the calf ran across the runway, the agency said. […]
‘s northern military base; troops retaliate: military
Jan 28, 2008 (AFP) – Tamil Tiger rebels Monday shelled Sri Lanka’s main military base in the island’s north, defence officials said.There were no immediate reports of casualties. More than a dozen shells hit the Palaly military complex in the Jaffna peninsula on the northern edge of the Indian Ocean Island, officials said, adding that […]
Sri Lankan Airlines aims for shorter transit times
Jan 28, 2008 (LBO) – Sri Lankan Airlines, the island’s national carrier, has steadily increased the number of passengers in transit to 46 percent from 28 percent in 2003/04 in an attempt to make Colombo a hub for air travel, a statement by the carrier said. According to Sri Lankan, it has recorded a steady […]
Profit vs Growth
January 28, 2008 (LBO) – Investors in telecommunications stocks in emerging markets like Sri Lanka are more concerned with business growth and cash flows instead of reaping dividends, the head of the island’s top celco said. . “Investors in stock markets, in telco shares, in ICT stocks look at cash flows,” said Hans Wijayasuriya, chief […]
Privacy Regime
Jan 28, 2008 (LBO) – Developing countries should first enlighten state officials and citizens on privacy to implement a privacy regime that helps develop e-commerce and international trade, experts say. A privacy regime is a mechanism that is in place to protect personal information which is stored or transferred into and out of a country. […]
Note Rating
Jan 28, 2008 (LBO) — Fitch Ratings has assigned an A+ (lka) national long term rating to a Singer Sri Lanka 800 million rupee note issue with a ‘negative’ outlook, the rating agency said Monday. It has also affirmed an ‘A (lka)’ rating on an outstanding note issue. Money from the new note issue will […]
Sri Lanka stock buyers push up Royal Ceramics
Jan 28, 2008 (LBO) – Sri Lankan stocks closed higher Monday with investors pushing up the tile maker Royal Ceramics after it announced higher profits for the December quarter. The rupee traded around 108.02/10 earlier in the day and overnight money was around 15-16 percent, dealer said. The All Share Index ended up 14 points […]
Sri Lankan bodies in mass graves hard to identify: hospital
Jan 26, 2008 (AFP) – The bullet-riddled bodies of 16 men found dumped in shallow graves in a government-controlled area in Sri Lanka were hard to identify because they were badly decomposed, a hospital official said. A separate government probe found 430 civilians had been killed during a five-month period up to February 2007, though […]
Societe Generale chairman fighting for future after rogue trade scandal
PARIS, Jan 27, 2008 (AFP) – A week from hell when he had to admit that 7.1 billion dollars had gone missing and another 3.5 billion was lost on the US subprime market, has tested even the mettle of crisis veteran Societe Generale chief Daniel Bouton. Societe Generale’s market value has lost more than 40 […]