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FBI probes finance giants for fraud: report
WASHINGTON, September 24, 2008 (AFP) – The US Federal Bureau of Investigation is probing allegations of fraud by 26 Wall Street firms including several investment giants whose collapse sent world markets into turmoil, US media said Tuesday. The FBI has set its sights on investment titan Lehman Brothers, mortgage giants Fannie Mae and Freddie Mac […]
Ex-banker Paulson faces snag in using public money to bailout banks
WASHINGTON, September 24, 2008 (AFP) – A battle over the US government’s financial rescue package heated up in Congress Tuesday, with top finance officials urging its swift passage and lawmakers digging in their heels. Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson, testifying to Congress after proposing the 700-billion-dollar bailout just days ago, […]
Sri Lanka Tamils resent surveillance in capital
September 24, 2008 (AFP) – Luxmi Wellamma fled her home in Sri Lanka’s war-torn north for what she hoped would be a safer life in Colombo. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 But the relative calm of the capital comes at a cost: […]
Weight Watching
Sept 24, 2008 (LBO) – Sri Lanka’s cooking gas retailers will have to weigh gas cylinders on a certified on-site weighing machine in the presence of customers to combat the sale of underweight cylinders, officials said. If such dealers are not allowed to sell gas, rural customers in particular may face immense difficulties by being […]
Bunker Business
Sept 24, 2008 (LBO) – Ceylon Shipping Corporation (CSC) is considering acquiring its own ship fuel supply vessel to sell bunkers in Colombo port through its joint venture with a Greek shipping family firm. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “We have started doing bunkering […]
Sri Lanka shares weaken, investors wary of earnings outlook
Sept 23, 2008 (LBO) – Sri Lankan shares weakened further Tuesday on small volumes with brokers saying investors remained concerned about the earnings outlook of listed firms. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 0.37 percent (8.23 points) to 2,230.95 […]
Circular Strategy
WASHINGTON, September 23, 2008 (AFP) – The conversion of Goldman Sachs and Morgan Stanley to regulated commercial banks marks the end of an era of independent Wall Street investment firms and a separation in the industry since the 1930s. The change, announced late Sunday by the Federal Reserve, closes the door on the last two […]
Sri Lanka August tourist arrivals fall, winter bookings better: official
Sept 23, 2008 (LBO) – Tourist arrivals in to Sri Lanka in August fell sharply from a year ago but bookings for the winter season look promising for hoteliers, tourism chief Renton de Alwis said. Sri Lankan hoteliers have said the industry has been affected by bad publicity in tourism generating markets caused by fighting […]
Fast Links
Sept 23, 2008 (LBO) – Sri Lanka is to award a contract to provide broadband links to 500 rural schools by end 2008, expanding a network in which 1,100 public schools are already connected, officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Anura Dissanayake, director […]
Digital Revenues
Sept 23, 2008 (LBO) – Sri Lanka Telecom (SLT), the island’s largest fixed access provider, has launched Internet Protocol Television (IPTV) with a target of reaching 7,000 customers by year end, officials said. Weerasuriya is also talking with education organizations who want to conduct virtual or online classrooms through IPTV with interactive capabilities, which would […]
Sri Lanka aviation industry targets young people
Sept 23, 2008 (LBO) – Sri Lanka’s aviation industry, including the Air Force, civil aviation authorities and flying schools, are putting themselves on display in Colombo this week vying for the attention of young people, organizers of an aero exhibition said. The exhibition will also provide a chance for young people to interact with professionals […]
Stamping out corruption can save lives, watchdog says
BERLIN, September 23, 2008 (AFP) – Stopping practices such as cronyism and embezzlement can save lives in poor countries, a graft watchdog said Tuesday as Somalia, Iraq and Myanmar again came bottom in its global corruption rankings. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “In the […]