Category: Other

THE HAGUE, September 26, 2008 (AFP) – Shares in Belgian-Dutch bank Fortis fell more than 12 percent Friday, having lost some 20 percent at one stage the previous day despite its denial that it faced liquidity problems. Press reports Friday said the giant banking group was looking at asset sales of up to 10 billion […]

WASHINGTON, September 26, 2008 (AFP) – The oldest rocks on Earth have been discovered in Canada, offering scientists a glimpse at the origins of the planet, announced scientists in a study to be published Friday. The rocks, found in a belt of ancient bedrock in Quebec, are estimated to be 4.28 billion years old. The […]

WASHINGTON, September 25, 2008 (AFP) – US President George W. Bush will host White House rivals John McCain and Barack Obama, as well as top lawmakers, for economic crisis talks on Thursday, a spokesman said Wednesday. Bush, who telephoned Obama around 7:30 pm (1130 GMT), hopes “to work on driving toward a bipartisan and timely […]

LONDON, September 24, 2008 (AFP) – Oil prices dipped on Wednesday, erasing earlier gains and continuing this week’s roller-coaster ride, as traders set aside news that US crude inventories plunged last week. New York’s main contract, light sweet crude for November delivery, fell 84 cents to 105.77 dollars per barrel. Brent North Sea crude for […]

NEW YORK, September 24, 2008 (AFP) – US, European Union, Japanese and Norwegian envoys met here Wednesday to discuss the latest fighting in Sri Lanka, including the need for both sides to protect civilians, a US diplomat said. “The fighting has been expanding, heading toward the north,” Richard Boucher, the assistant secretary for south Asian […]

NEW DELHI, September 25, 2008 (AFP) – India’s airline sector has moved into negative growth and urgent reforms are needed if it wants to survive a “perfect storm” hitting the industry, an association said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Growth has slowed from 33 […]

HONG KONG, September 25, 2008 (AFP) – The run on Hong Kong’s Bank of East Asia subsided on Thursday, as banking authorities soothed savers’ concerns that Wall Street’s financial crisis had spread to the city. Hundreds of customers queued for a second day across the city before branches opened as they scrambled to get their […]

WASHINGTON, September 24, 2008 (AFP) – A battle over the US government’s financial rescue package heated up in Congress Tuesday, with top finance officials urging its swift passage and lawmakers digging in their heels. Federal Reserve chairman Ben Bernanke and Treasury Secretary Henry Paulson, testifying to Congress after proposing the 700-billion-dollar bailout just days ago, […]

WASHINGTON, September 24, 2008 (AFP) – The US Federal Bureau of Investigation is probing allegations of fraud by 26 Wall Street firms including several investment giants whose collapse sent world markets into turmoil, US media said Tuesday. The FBI has set its sights on investment titan Lehman Brothers, mortgage giants Fannie Mae and Freddie Mac […]

KUALA LUMPUR, September 24, 2008 (AFP) – Malaysia Wednesday announced another 3.9 percent cut in petrol prices, following recent declines in world oil prices. Prime Minister Abdullah Ahmad Badawi said the price of petrol will be cut by 10 sen to 2.45 ringgit (0.72 dollars) while diesel prices will be cut by the same amount […]