Category:
Freeze on govt department spending in China for 2009: state media
BEIJING, November 5, 2008 (AFP) – Governmental department spending in China in 2009 will be frozen at this year’s level, ending an annual five-percent increase following the global financial crisis, state media said Wednesday. “The budgets for next year should be capped at the same amount as this year’s and every project will be looked […]
Obama, McCain await judgment of history
WASHINGTON, November 5, 2008 (AFP) – Front-runner Barack Obama faced a tense wait Tuesday to see if millions of American voters would enshrine him as the first black president or whether Republican John McCain would mount a shock comeback.On a night of high drama, the presidential rivals were powerless as results started to pour in […]
‘s first black president
WASHINGTON, November 5, 2008 (AFP) – Americans elected Democrat Barack Obama as their first black president Tuesday, in a transformational election which will reshape US politics and reposition the United States on the world stage.With a stunning grassroots political movement, powered by massive multi-million dollar fundraising, Obama first beat Hillary Clinton, and the Democratic Party’s […]
”
CHICAGO, November 5, 2008 (AFP) – US President-elect Barack Obama said Tuesday that a new dawn of American leadership was at hand and stressed the shared destiny of the United States and the rest of the world. “It’s been a long time coming. But tonight, because of what we did on this day, in this […]
US presidential election results (Update II)
WASHINGTON, November 5, 2008 (AFP) – Here is a tally of preliminary results in the US presidential election, based on projections by US networks. At 0214 GMT, with results given in 27 states, Obama had 175 and McCain had 81 of the 270 Electoral College votes needed to win the White House, out of a […]
Sri Lanka grey market dollar rate up; CB bill stock Rs89.5bn
Nov 04, 2008 (LBO) – Sri Lanka’s grey market rate for US dollars has spiked sharply as the central bank continued to intervene in forex markets and print money to prevent a contraction in the monetary base, putting pressure on the rupee. In the grey market in Sri Lanka’s capital Colombo, US dollars are trading […]
Sri Lanka shares maintain upward swing, trading thin
Nov 04, 2008 (LBO) – Sri Lankan shares maintained their upward momentum, Tuesday, but the low volume of trading raised doubts whether the upswing would last as the earnings outlook remained bleak, brokers said.The upswing began last week after the Colombo bourse slumped to a three and a half year low. Associated Motorways has asked […]
Merchant Look
Nov 04, 2008 (LBO) – The Merchant Bank of Sri Lanka (MBSL) group net profit for the September quarter fell by 26.5 percent to 42.8 million rupees from a year ago as it was affected by sharply higher interest and other costs. Total group income for the September quarter rose 13.9 percent to 409 million […]
Bailout Firm
LONDON, November 3, 2008 (AFP) – Finance minister Alistair Darling announced the creation of a new arms-length body Monday that would manage the British government’s investments in three high street banks bailed out last month. Speaking to a Treasury department committee hearing earlier, the finance minister also made clear he expected all British banks — […]
Pay Up
Nov 04, 2008 (LBO) – Sri Lanka’s central bank said it has ordered four unlicensed finance companies that failed to register with the regulator to repay depositors, and given time for two more to comply with its rules. A bank statement said four of six organisations and individuals carrying on finance business without authority had […]
Secret Budget
Nov 04, 2008 (LBO) – Sri Lanka’s Supreme Court has struck down a hidden budgetary fund that gave the island’s top treasury official power to circumvent the parliament and allocate money to any ministry, usurping parliamentary control over the public purse. Court said the government was caught in a ‘debt trap’ where debt service was […]
Sri Lanka HNB Assurance Sept quarter earnings boosted by tax rebate
Nov 04, 2008 (LBO) – Sri Lanka’s HNB Assurance said net profit for the September quarter rose 90 percent to 23.6 million rupees helped by a 9.7 million rupee tax rebate. Revenue growth for the quarter was up 17 percent to 443 million rupees. Profit before taxation for the September quarter was 13.8 million rupees […]