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Sri Lanka says 44 combatants killed in latest fighting
October 20, 2008 (AFP) – At least 33 Sri Lankan government soldiers and 11 Tamil Tiger rebels have been killed in the latest heavy fighting in the north of the island, the defence ministry said Monday. Government forces also suffered at least 48 soldiers wounded and another three soldiers missing in the latest battles with […]
Sri Lanka Tigers blunt military drive to capture powerbase
October 20, 2008 (AFP) – Dogged resistance by Tamil Tiger guerrillas appears to have held up a Sri Lankan military offensive in the north aimed at smashing the rebels’ de facto state, analysts and military sources say. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Sri Lankan actuaries form professional body to meet growing demand
Oct 20, 2008 (LBO) – Sri Lankan actuaries, business professionals who analyse the financial consequences of risk, have banded together to form a professional body called the Actuarial Association of Sri Lanka (AASL). It aims to popularise the profession to meet growing national demand and help with the development of the local financial services sector, […]
Sri Lanka says no EU rights probe; state help for exporters to improve productivity
Oct 20, 2008 (LBO) – Sri Lanka has rejected a European Union demand to conduct a probe on human rights and child soldiers, but will give exporters state help to tide over a shock from loss of trade concessions, a senior minister said. The European Union has asked that Sri Lanka comply with international conventions […]
India faces “temporary slowdown” from global turmoil: PM
NEW DELHI, October 20, 2008 (AFP) – India must brace itself for slower growth due to worldwide financial turmoil, Prime Minister Manmohan Singh warned Monday, as the central bank cut a key lending rate to shore up the economy.India was experiencing the “ripple effects” of the worst financial crisis in nearly 80 years and “must […]
Societe Generale bank shares slump on recapitalisation rumours
PARIS, October 20, 2008 (AFP) – Shares in French bank Societe Generale slumped in morning trading here on Monday, showing a loss of 10.17 percent to 40.69 euros on rumours that the bank needs new capital. The shares showed a loss of about 12.0 percent at one point. The overall Paris market was showing a […]
French bank chairman quits over 800 million dollar trading loss
PARIS, October 20, 2008 (AFP) – The chairman and director general of the French bank Caisse d’Epargne quit Sunday over an 800 million dollar derivative trading loss at the height of the global finance crisis. Chairman Charles Milhaud said in a statement after an emergency supervisory board meeting that he was taking full responsibility for […]
”’ is forgiven
PARIS, October 20, 2008 (AFP) – IMF chief Dominique Strauss-Kahn’s had only a “one-night stand” with a member of the world finance body’s staff, his wife insisted Sunday as the French establishment rallied round the former socialist minister. “We have moved on,” said television journalist Anne Sinclair, insisting in her personal blog that she still […]
Sri Lanka central bank says inflation will fall till November
Oct 20, 2008 (LBO) – Sri Lanka’s central bank says consumer inflation, which fell to 24.3 percent in September, will continue to fall till November in the light of tight policy in 2008 and falling global commodity prices. Central Bank governor Nivard Cabraal told LBO earlier this month that he expected inflation to be slightly […]
Sri Lanka military says smashing major Tiger defences
October 19, 2008 (AFP) – Troops and Tamil Tiger rebels were locked in intense fighting in northern Sri Lanka Sunday after government forces smashed through the “last major defences” of the guerrillas, the military said. The rebel Liberation Tigers of Tamil Eelam (LTTE) launched “poisonous gas attacks” to blunt the military offensive aimed at capturing […]
‘s airline sector no longer a high flyer
NEW DELHI, October 19, 2008 (AFP) – India’s aviation industry has gone from being one of the world’s high flyers to watching its fortunes plummet as it struggles to cope with surging losses.The sector, one of the most vibrant symbols of India’s economic progress, is going through its “worst-ever phase,” says Civil Aviation Minister Praful […]
Philippine exporters brace for tougher times ahead
MANILA, October 19, 2008 (AFP) – The Philippines has so far escaped relatively unscathed from the global financial crisis, but its export industries are bracing themselves for tougher times ahead, analysts say.While orders for the remainder of the year still look healthy, exporters fear that going forward into 2009 the outlook might not be so […]