Category: Industry
Watching Brief
Oct 29, 2008 (LBO) – Sri Lanka’s credit information bureau has got new powers to track utility bills, insurance and pension fund payments, under an amendment to its law passed in parliament. Credit Information Bureau (CRIB) officials said the legal amendments and modernisation of its information system will enable it to collect information on any […]
Cash Call
Oct 29, 2008 (LBO) – Sri Lanka’s Sampath Bank said in a stock exchange filing that it has called off a rights issue after shareholders voted against it at an extraordinary general meeting Wednesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The one for four rights […]
Air Raid
Oct 28, 2008 (LBO) – A fire broke out in a key power station in Sri Lanka’s capital Colombo soon after lights were doused on warnings of a Tamil Tiger guerrilla air raid, officials and the military said. A lubrication oil cooler connected to the gas turbine plant GT7 in Kelanitissa was burning, officials of […]
Sri Lanka Tiger aircraft hit power station
Oct 29, 2008 (LBO) – Sri Lanka’s Tamil Tiger guerrilla aircraft struck a key power station in the capital Colombo in a night raid, and bombed a military camp in the northeastern Mannar area, in two attacks Tuesday, officials said. Anti-aircraft fire lit up the night sky soon after power was cut to the capital. […]
Net Billing
Oct 29, 2008 (LBO) – Sri Lankan fixed access provider Lanka Bell said it would pay subscribers that receive overseas calls 50 cents a minute, setting the stage for competition in the incoming call business. Corporate users would also benefit substantially by making Lanka Bell their choice for incoming IDD calls, Samarasinghe said. Under an […]
England invites West Indies to replace Sri Lanka for tour
KINGSTON, October 27, 2008 (AFP) – The England and Wales Cricket Board (ECB) has invited West Indies to replace Sri Lanka in a tour of England next April and May for a test series and one-day internationals. The series would follow England’s visit to the West Indies from January to April of next year and […]
Micro Lending
Oct 28, 2008 (LBO) – Sri Lanka Orix Leasing has linked with Dutch development financier FMO to expand its micro finance with 10 million US dollar loan and equity injection, officials said.LOLC Micro Finance is getting a 2.0 million US dollar equity injection from FMO for a 20 percent stake.FMO will pump in a further […]
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WASHINGTON, October 26, 2008 (AFP) – The head of the International Monetary Fund Dominique Strauss-Kahn announced on Sunday that a “substantial financing package” would be announced for Hungary in the next few days. “An IMF staff mission and the Hungarian authorities, in close consultation with the EU, have reached broad agreement on a set of […]
Tokyo stocks tumble to 26-year low
TOKYO, October 27, 2008 (AFP) – Japan’s Nikkei stock index on Monday fell to a level last seen in 1982 before the economic bubble era, tracking heavy losses on overseas markets as fears grew of a global recession. The Nikkei dropped 155.69 points, or 2.04 percent, to 7,493.19 in early trade, the lowest point since […]
Markets tumble despite G7, IMF moves
TOKYO, October 27, 2008 (AFP) – Growing fears of global recession sent share and oil prices plummeting Monday as markets shrugged off new moves to protect shell-shocked economies and a G7 pledge to stabilise the financial system.The IMF unveiled rescue plans for Ukraine and Hungary, South Korea slashed its key interest rate, Japan announced fresh […]
Go green to fight climate and financial crises: Greenpeace
BERLIN, October 27, 2008 (AFP) – Greenpeace unveiled a global action plan Monday it said would not only improve the world’s energy mix and stop climate change but also help end the international financial crisis.Aggressively investing in renewable power generation and energy efficiency could create a 360-billion-dollar (285-billion-euro) industry providing half of the world’s electricity, […]
Hot Money
Oct 27, 2008 (LBO) – Stopping the flow of funds for terrorist activities is a key part of the effort to fight terrorism, Sri Lankan central bank governor Ajith Nivard Cabraal said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “If we can stop the funding […]