Author: lbostgadmin
US subprime crisis “an accident waiting to happen”: Greenspan
WASHINGTON , Oct 21, 2007 (AFP) – The financial turmoil that erupted earlier this year in the US subprime housing market was “an accident waiting to happen” and could have taken place in any other sector, former Federal Reserve chairman Alan Greenspan said here Sunday.“Credit spreads across all global asset classes had become compressed to […]
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WASHINGTON, Oct 22, 2007 (AFP) – The head of the International Monetary Fund, Rodrigo Rato, warned Monday there are risks of an “abrupt fall” in the dollar, linked to a loss of confidence in dollar assets.“There are risks that an abrupt fall in the dollar could either be triggered by, or itself trigger, a loss […]
” mix in minutes
Oct 22, 2007 (LBO) – A two tonne ‘kottu roti’ pancake mix prepared by Hilton Hotel in the Sri Lankan capital Colombo was devoured in just an hour by hundreds of guests at its anniversary party Sunday. Colombo Hilton’s ‘Kottu Party’ got more than double the expected crowd forcing chefs to go into emergency mode […]
Sri Lanka says rebels killed in fresh clashes
COLOMBO, Oct 20, 2007 (AFP) – More than a dozen suspected Tamil Tiger rebels were killed in fresh fighting in the island’s embattled north, the defence ministry said Saturday.The military fired at a group of Tamil Tiger rebels who tried to break through the northern defence lines in Mannar on Saturday, killing eight, it said. […]
Sri Lanka told by terrorism experts no military solution possible
COLOMBO, Oct 21, 2007 (AFP) – Experts on counter terrorism have urged Sri Lanka’s government to capitalise on recent victories against the Tamil Tigers and try to hammer out a political solution to the long-running ethnic war. Earlier this year, government forces managed to eject the ethnic rebels from their last stronghold in the east […]
Sri Lanka captain says Murali record bid not a distraction
Oct 21, 2007 (AFP) – Sri Lanka skipper Mahela Jayawardene said on Sunday that winning the Test series in Australia mattered more than ace spinner Muttiah Muralitharan going for the world record. Off-spinner Muralitharan needs just nine more wickets in next month’s two Tests in Australia to break the retired leg-spinner Shane Warne’s world mark […]
‘s Atapattu determined to shine
Oct 21, 2007 (AFP) – Sri Lanka’s former captain Marvan Atapattu said Sunday he was determined to prove himself on the upcoming Australian tour after being dramatically picked through political intervention.“I have been out of the game for sometime and I know I have to perform and prove myself because I was invited due to […]
Congolese warlord to appear before ICC Monday
THE HAGUE, Oct 21, 2007 (AFP) – Congolese militia leader Germain Katanga will on Monday become the second person to appear before the International Criminal Court to face accusations of massacring villagers, using child soldiers and sexually enslaving women.In the largely procedural hearing, Katanga, 29, will not be asked to enter a plea on the […]
Capital control curbs will hit overseas flows to India: analysts
MUMBAI, Oct 21, 2007 (AFP) – Overseas fund flows into Indian equities will drop in the coming weeks, triggering near-term uncertainty, amid regulatory moves to restrict record capital flows, analysts say. The Indian regulator Tuesday issued a proposal to curb the use of participatory notes — or P-Notes — which allow overseas investors to buy […]
Brazil slams IMF handling of US credit crisis
WASHINGTON, Oct 20, 2007 (AFP) – Brazilian Finance Minister Guido Mantega slammed the International Monetary Fund Saturday for having been lax in its handling of a US housing-related credit crisis that roiled global markets.“Allow me to point out the irony of this situation,” Mantega told IMF policymakers at the opening of annual meetings here of […]
Bears prowl Wall Street as jitters grow on outlook
NEW YORK, Oct 19, 2007 (AFP) – A horrific week on Wall Street has put the bears in command as the market braces for more bleak news from the US housing front and earnings that may show how companies are weathering the storm. In the week ended Friday, the Dow Jones Industrial Average plummeted 4.05 […]
India sends back New York rubbish
THIRUVANANTHAPURAM,, India, Oct 19, 2007 (AFP) – India’s communist-ruled Kerala state has ordered containers of illegal rubbish shipped in from New York to be sent back, a minister said Friday. The containers were supposed to hold only “raw materials” meaning waste paper under a deal between paper manufacturing company Kochin Kadlas and New York Municipality. […]