Category: Other
Belgian customs seize record haul of fake pills, from India
BRUSSELS, October 2, 2008 (AFP) – Customs authorities at Brussels airport have seized over two million counterfeit medical pills from India which were bound for Africa, the biggest such seizure ever in Europe, officials said Thursday. Blister packs of the fake medications — copies of Tramal, a strong analgesic made by German pharmaceutical company Grunenthal, […]
” opportunities
Oct 02, 2008 (LBO) – Growing consumer demand in Western markets for environmentally-friendly products provide new opportunities for Sri Lankan businesses, a European Union official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The opportunities arise through increasing EU efforts to cut greenhouse gas emissions that […]
US Senate to vote Wednesday on bailout package
WASHINGTON, October 1, 2008 (AFP) – The US Senate will vote Wednesday evening on a revised 700 billion dollar Wall Street bailout, after the House of Representatives sparked economic turmoil by rejecting the original package. A Democratic Senate aide speaking on condition of anonymity confirmed the surprise vote would go ahead and the bill is […]
” accounting rules amidst illiquid markets
WASHINGTON, September 30, 2008 (AFP) – US regulators Tuesday offered new guidelines aimed at easing accounting rules blamed by some analysts for worsening the crisis for banks with heavy losses from mortgage securities The Securities and Exchange Commission made the announcement offering clarification to companies preparing to report their financial results for the third quarter, […]
French PM says banks vulnerable, but state will step in
PARIS, September 30, 2008 (AFP) – French Prime Minister Francois Fillon has warned in an interview to appear Wednesday that the country’s banks are vulnerable given the global financial crisis, which he compared to the Great Depression.Fillon, however, said in the interview with Les Echos business newspaper that the state would not allow any banks […]
Privatization of first US airport could bank 2.5 billion dollars
CHICAGO, September 30, 2008 (AFP) – The privatization of the first major US airport could net the city of Chicago 2.5 billion dollars, officials said Tuesday. The 99-year lease of Chicago’s secondary airport, Midway, must still be approved by the city council and federal regulators but officials expressed confidence it would pass. “With this agreement […]
Coral-killing starfish turns out to be four species, not one
PARIS, September 30, 2008 (AFP) – The crown-of-thorns starfish, a notorious threat to coral in the Indian and Pacific Oceans, comprises four species, not one, biologists reported on Tuesday. The spiny predator, known by its Latin name of Acanthaster planci, has been a worsening peril to reefs for at least three decades, latching onto coral […]
Sri Lanka to introduce energy efficiency laws
Oct 01, 2008 (LBO) – Sri Lanka’s government plans to introduce new laws to make energy efficiency improvement measures mandatory that may even extend to private homes, a senior official said.Wickramasinghe said the government aims to encourage supply side and end-use energy efficiency and the Energy Conservation Act will be amended. The authority will prepare […]
Europe scrambles to save banks from meltdown
PARIS, September 30, 2008 (AFP) – As the shockwave from the US financial meltdown battered Europe on Tuesday, governments scrambled to shore up fragile banks and restore confidence to flighty stock markets. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 In Paris, President Nicolas Sarkozy held a […]
Markets dive after US lawmakers reject financial bailout
NEW YORK, September 29, 2008 (AFP) – Global markets panicked Monday after US lawmakers rejected a 700-billion-dollar rescue of the financial system, raising the prospect of deeper financial turmoil. Wall Street blue-chip stocks suffered their worst single-day point decline after the US House of Representatives defeated the measure billed by President George W. Bush’s administration […]
Drama as American people say no to Wall Street bailout
WASHINGTON, September 29, 2008 (AFP) – Shocked, open-mouthed and fearful US lawmakers stood in the well of the House of Representatives Monday, dumbfounded by the magnitude of the chamber’s decision to kill a bid to save Wall Street. Democratic and Republican party leaders who had battled to pass a 700 billion dollar bailout bill, stared […]
Dollar gains despite rejection of bailout plan
NEW YORK, September 29, 2008 (AFP) – The euro and the pound slid against the dollar Monday after the rescue of several European banks deepened worries about the global financial system. The currency market showed little reaction off US lawmakers’ rejection of a 700-billion-dollar financial rescue plan touted by President George W.Bush’s administration as vital […]