Category:
Port Bid
Feb 10, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is pushing to award a container terminal concession in Colombo to Hutchison Port Holdings despite a technical committee nod for rival Port of Singapore Authority, a news report said Sunday. “The SLPA is determined to award the Colombo South Port Development Project to Hutchison […]
‘s rogue trader saga
PARIS, Feb 10, 2008 (AFP) – A new court battle will be held Monday over the detention of French rogue trader Jerome Kerviel while Societe Generale is to soon launch an eight billion dollar capital increase to cover the losses they blame on him.The decision by a Paris appeals court on Friday to back a […]
World bourses lost 5.2 trillion dollars in January: S&P
PARIS, Feb 9, 2008 (AFP) – World stockmarkets lost 5.2 trillion dollars (3.6 trillion euros) in January thanks to the fallout from the US subprime crisis and fears of a global economic slowdown, Standard & Poor’s said Saturday. But only Argentina and Taiwan slipped into negative territory for the 12-month period. “If investors thought the […]
Sri Lanka army chief vows to defeat Tiger rebels
Feb 10, 2008 (AFP) – Sri Lanka’s army chief again vowed to defeat Tamil separatists but refused to set a deadline for the end of the decades-old conflict, saying the rebels remain a potent force, a report said Sunday. Army general Sarath Fonseka said in an interview with the Lakbima weekly newspaper that a military […]
Port Race
Feb 09, 2008 (LBO) – Colombo port has a good chance of enhancing its status as a container transhipment hub with its expansion plans and compliance with international maritime security codes, a container security expert has said. Stefaan Vermeire, Director General of the International Container Security Organization based in Brussels said Colombo’s location in the […]
IMF chief says countries should consider fiscal boost
TOKYO, Feb 9, 2008 (AFP) – The head of the IMF on Saturday renewed his call for countries to consider fiscal measures to boost demand in the face of slowing economic growth caused by the US subprime loan crisis.International Monetary Fund director general Dominique Strauss-Kahn also urged the world’s financial authorities to work together closely […]
G7 finance chiefs see growing risks to global economy
TOKYO, Feb 9, 2008 (AFP) – Top world finance ministers warned Saturday that the global economy faces growing threats from a US housing slump and credit crunch, urging banks to come clean on their subprime loan losses.The role of ratings agencies, which have been criticised for not flagging up the impending global credit woes, is […]
EU money chief talks down the Euro
TOKYO, Feb 9, 2008 (AFP) – The euro is still above its fair value, EU economic and monetary affairs commissioner Joaquin Almunia said Saturday. There may be calls however behind closed doors from European ministers for action to try to stem the dollar’s decline against the euro, which is hurting exporters in the eurozone, analysts […]
Sri Lankans ponder Aussie dominance
SYDNEY, Feb 9, 2008 (AFP) – Sri Lanka were the second best side at last year’s World Cup but captain Mahela Jayawardene has admitted that a continuing inability to beat Australia is becoming a major concern.Another loss would make it hard for Sri Lanka to reach the finals of the tri-series. On Friday, in the […]
Wall St. tumbles depite economic stimulus nod from Congress
NEW YORK, Feb 8, 2008 (AFP) – US stock markets tumbled heavily in the week to Friday, giving Wall Street a fresh battering, despite Congress granting a green light to a giant economic stimulus package sought by the White House. Bond yields and prices move in opposite directions. The plan, worth around 150 billion dollars, […]
OPEC could ditch dollars for euros
LONDON, Feb 8, 2008 (AFP) – OPEC could switch the pricing of oil from dollars into euros within a decade, secretary general Abdullah al-Badri told a weekly magazine. The Organization of the Petroleum Exporting Countries could adopt the euro to combat the decline of the dollar, Badri told the Middle East Economic Digest (MEED), published […]
Ranatunga looks to revamp Sri Lanka cricket
COLOMBO, Feb 8, 2008 (AFP) – Sri Lanka’s legendary former cricket captain Arjuna Ranatunga, who recently took over the running of the island’s troubled governing body in the sport, Friday announced a major revamp of the administration. The outspoken Ranatunga, who won the World Cup in 1996, had been critical of those who had run […]