Category:
Eurozone business activity at near seven-year low: survey
BRUSSELS, September 23, 2008 (AFP) – Business activity in the 15 nations sharing the euro slumped in September to the lowest level since just after the attacks on the United States in 2001, according to a survey on Tuesday, fuelling fresh recession fears. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ […]
Doubts grow on US financial rescue plan
WASHINGTON, September 22, 2008 (AFP) – Doubts emerged Monday about a gargantuan 700-billion-dollar US bailout of the finance system, plunging markets into renewed turmoil, as oil prices surged, the dollar slid and stocks faced fresh pressure. US and European markets fell hard as anxious investors waited on lawmakers to pass the measure and President George […]
IMF chief welcomes US Treasury moves, urges global action
LONDON, September 22, 2008 (AFP) – IMF managing director Dominique Strauss-Kahn welcomed Tuesday the “bold steps” taken by the United States to stabilise the financial system, but warned global steps were required to get past the crisis. “I welcome the bold steps being taken in the US and look forward to their effective implementation,” the […]
Sri Lanka president in talks with Norway peace brokers
September 23, 2008 (AFP) – Sri Lankan President Mahinda Rajapakse held talks with Norwegian peace facilitators, the first since Colombo pulled out of a tattered truce in January, his office said Tuesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Rajapakse and Norway’s senior peace envoy Erik […]
Liquidity Shock
SINGAPORE, September 23, 2008 (AFP) – Crude oil traded mixed in Asia on Tuesday after the benchmark New York futures contract soared more than 16 dollars for its biggest one-day gain ever. The massive price surge stemmed partly from hopes that a US plan to buy tainted mortgage-related assets will save the global economy from […]
France calls for punishment as 2008 paper money debacle unfolds
Sept 23, 2008 (LBO) – French president Nicolas Sarkozy called for those responsible for a global financial crisis to be punished as the biggest debacle so far in a modern re-incarnation of fiat paper money unfolded on its 35th anniversary. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka shares weaken, trading dries up
Sept 22, 2008 (LBO) – Sri Lankan shares ended slightly weaker Monday with trading virtually drying up and small investors hunting for bargains in a becalmed market, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index was down 0.50 percent (11.14 […]
High Risk
Sept 22, 2008 (LBO) – Police are trying to track down a Sri Lankan businessman who has fled abroad after duping thousands of people into depositing money with his firm by promising high returns. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Thousands of distraught depositors have […]
EU says it does not want Sri Lanka to lose GSP+ trade deal
Sept 22, 2008 (LBO) – A senior European Union official said it does not want Sri Lanka to lose GSP+ trade concessions but the island must meet eligibility criteria to continue duty free market access to Europe under the deal. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Australian exports to surge despite global slowdown: forecaster
SYDNEY, September 22, 2008 (AFP) – Australian export earnings are set to hit record levels this year due to continued strong demand for raw materials despite a global economic slowdown, the nation’s chief forecaster said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 But Australia’s economy […]
Britain to boost powers of financial regulators
MANCHESTER, September 22, 2008 (AFP) – Britain is to draw up legislation to bolster the role of financial regulators and make it easier to intervene in a crisis to help stem global turmoil, the finance minister said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 A […]
Goldman Sachs and Morgan Stanley to be holding companies; get more printed money: Fed
WASHINGTON, September 22, 2008 (AFP) – US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit, the Federal Reserve announced late Sunday.Goldman Sachs and Morgan Stanley are the only independent investment banks remaining in the United States following a meltdown on Wall Street that saw […]