Category: Other
Citigroup to take over Wachovia banking assets, gives US stake
WASHINGTON, September 29, 2008 (AFP) – US authorities said Monday they had facilitated a takeover of Wachovia’s banking operations by Citigroup Inc.in a deal that gives the government a stake in one of the nation’s biggest banks. The Federal Deposit Insurance Corp.made the announcement that further reshapes the troubled US banking sector saddled with heavy […]
US House approves historic India nuclear deal
WASHINGTON, September 28, 2008 (AFP) – The House of Representatives Saturday passed a civilian nuclear pact with India that lifts a three decade-old ban on civilian nuclear trade with India. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The agreement, passed by a 298-117 vote, […]
Resilient Asia watches US in turmoil
SINGAPORE, September 28, 2008 (AFP) – “Bailout” is back as a buzzword 11 years after the Asian financial crisis, but this time the tables are turned: the US is scrambling to rescue ailing banks while a healthy Asia watches. The ramparts built after the 1997-1998 Asian crisis helped blunt the impact of turbulence that ripped […]
Chilling Message
Sept 28, 2008 (LBO) – The house of a top Sri Lankan anti-corruption activist who is also a lawyer who has appeared on behalf of victims of human rights abuses and torture, had been bombed last night, police said. The AHRC said the previous day he had raised the issue of a lawyer who had […]
Bradford & Bingley may be nationalised: reports
LONDON, September 27, 2008 (AFP) – British mortgage lender Bradford & Bingley, which has been hit by a housing downturn and weakness in the wider economy, may be nationalised, newspapers reported Saturday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The Daily Telegraph and Daily Mail newspapers […]
Indians lead world in millionaire growth: report
MUMBAI, September 26, 2008 (AFP) – India is minting new millionaires at a faster pace than anywhere else in the world, buoyed by a fast-growing economy, according to a new study. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 There were an estimated 123,000 millionaires in India […]
Obama passes presidential threshold in first debate: analysts
WASHINGTON, September 27, 2008 (AFP) – Neither Barack Obama nor John McCain landed a knockout blow in their first presidential debate late Friday, but the youthful Democrat may have just scored a points victory by standing his own. Each campaign trumpeted favorable reviews from the instant punditry of television talking heads as Republican McCain played […]
US lawmakers try to close deal on financial rescue
WASHINGTON, September 27, 2008 (AFP) – US lawmakers held urgent negotiations on Saturday in a bid to agree a 700-billion dollar Wall Street bailout before markets reopen after the weekend, voicing optimism a deal was within reach. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Funny Money
Sept 26, 2008 (LBO) – Sri Lanka’s central bank has named six entities as illegally taking money from the public and engaging in lending or investment activities, including a recently collapsed firm. The central bank said Okanda Finance (Pvt) Ltd of Waidya Road, Dehiwela, Nadini Finance (Private) Limited of 17, Reality Plaza, Colombo Road, Ja- […]
Japanese consumer prices rise 2.4 percent in August
TOKYO, September 26, 2008 (AFP) – Japan’s inflation rate stayed at a decade high of 2.4 percent in August as soaring energy costs continued to pressure Asia’s largest economy, official figures showed Friday. Core prices rose for an 11th straight month, and at the same pace as in July, when inflation was the fastest since […]
Late-night crisis talks in Congress break up with no deal
WASHINGTON, September 26, 2008 (AFP) – Republicans stymied a late-night session of talks designed to resurrect an enormous economic bailout package but new negotiations will be held in the morning, a top Democrat said late Thursday. Barney Frank, chairman of the House of Representatives financial services committee, said a House Republican introduced an alternative plan […]
‘s Pizza Hut withdraws tainted Fonterra cheese
TAIPEI, September 26, 2008 (AFP) – Taiwan’s Pizza Hut said Friday it had pulled grated cheese from its outlets after they were found to contain unacceptably high levels of the industrial chemical melamine. “Our delivery shops island-wide have stopped supplies of the grated cheese after tests for melamine showed higher than the allowed levels. We […]