Author: lbostgadmin
Another One
Dec 31, 2007 (LBO) – Fitch Ratings has downgraded the State Mortgage and Investment Bank (SMIB) by one notch to A-(lka) and lowered its rating outlook to negative from stable, just as it downgraded HDFC Bank, another mortgage lender. “The rating downgrade reflects SMIB’s deteriorating profitability brought on by its inherent interest rate risk, and […]
Canal Charge
ISMAILIYA, Egypt, Dec 30, 2007 (AFP) – Transit fees for ships using Egypt’s Suez Canal will increase in 2008 by an average of 7.1 percent, the canal authority said on Sunday. Fees will rise by 5.7 percent for container ships, by 7.3 percent for oil tankers and by 10.5 percent for natural gas ships, authority […]
‘s warring parties say heavy battles in north
Dec 30, 2007 (AFP) – Sri Lanka’s security forces and Tamil rebels were locked in fierce fighting Sunday in the island’s north with both sides claiming to have inflicted heavy losses against the other. The defence ministry said troops killed at least 33 members of the Liberation Tigers of Tamil Eelam (LTTE) and wounded another […]
‘s tragedy of violent feudal politics
Dec 30, 2007 (AFP) – The assassination of Pakistan’s Benazir Bhutto is the latest deadly chapter plaguing South Asia’s dynasties and shows violence has become entrenched in the region’s political culture, analysts say. Ruling families from the Bhuttos of Pakistan to the Gandhis of India, the Bandaranaike family of Sri Lanka and Bangladesh’s Rahman family […]
Sri Lanka Cricket gets Ranatunga as new chief
Dec 30, 2007 (AFP) – Sri Lanka’s World Cup-winning captain Arjuna Ranatunga is to be formally appointed as head of the cricket administration next week, officials said Sunday.“His appointment is confirmed and he should take over next week as chairman of the cricket interim committee,” a senior presidential official, who did not want to be […]
”s cheapest car
NEW DELHI, Dec 30, 2007 (AFP) – India’s giant Tata Group plans to launch the world’s cheapest car early in January while also looking set to drive off with two of the poshest marques — Ford’s iconic Jaguar and Land Rover brands.Ratan Tata, head of the tea-to-steel Tata conglomerate, will unveil the “People’s Car” January […]
Flirty Thief
Dec 30, 2007 (LBO) – Russian programmers have created software known as ‘CyberLover’ that can infiltrate dating sites and chatrooms and seduce victims and collect personal information to be sold to identity thieves, internet security experts said.The cyber bot solicits and collects information such as home addresses, telephone numbers, and personal photographs that are used […]
Sri Lanka defence secretary calls for formal end to truce
Dec 29, 2007 (AFP) – Sri Lanka’s defence secretary said the government should formally pull out of a ceasefire with Tamil Tiger rebels amid escalating fighting in the island, a state-run daily reported Saturday. A 2002 Norwegian-brokered truce began to unravel in December 2005 and both sides have blamed each other for the mounting violence […]
Venice holds its breath for giant New Year kiss
ROME, Dec 28, 2007 (AFP) – Tens of thousands of people are expected to take part in a giant New Year’s kiss in front of Saint Mark’s Basilica in the romantic Italian city of Venice, the authorities said Friday. “New Year 2008 in Venice will become the New Year of love,” the Venice municipality said […]
IMF says dollar losing ground in global forex reserves
WASHINGTON, Dec 28, 2007 (AFP) – The dollar is losing ground as the currency of choice in the world’s foreign exchange reserves, the International Monetary Fund said Friday. The dollar’s share of forex reserves was 63.8 percent in the third quarter, compared with 65.0 percent in the second quarter and 66.5 percent in the 2006 […]
‘l help in Bhutto probe
ISLAMABAD, Dec 29, 2007 (AFP) – Pakistan’s interior ministry said Saturday that the international community “does not understand the environment” in the country, ruling out international help in probing Benazir Bhutto’s death.With questions raised about the official account of how she died, which has been rejected by Bhutto’s aides and supporters, ministry spokesman Brigadier Javed […]
Banking Credibility
Dec 29, 2007 (LBO) – The International Monetary Fund (IMF) has raised doubts about the independence of Sri Lanka’s central bank and its ability to regulate banks fairly due to the presence of a Treasury representative which creates a conflict of interest. “¦the Monetary Board’s independence could be potentially constrained by the presence of the […]