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Sri Lanka president in talks with Norway peace brokers
September 23, 2008 (AFP) – Sri Lankan President Mahinda Rajapakse held talks with Norwegian peace facilitators, the first since Colombo pulled out of a tattered truce in January, his office said Tuesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Rajapakse and Norway’s senior peace envoy Erik […]
Liquidity Shock
SINGAPORE, September 23, 2008 (AFP) – Crude oil traded mixed in Asia on Tuesday after the benchmark New York futures contract soared more than 16 dollars for its biggest one-day gain ever. The massive price surge stemmed partly from hopes that a US plan to buy tainted mortgage-related assets will save the global economy from […]
France calls for punishment as 2008 paper money debacle unfolds
Sept 23, 2008 (LBO) – French president Nicolas Sarkozy called for those responsible for a global financial crisis to be punished as the biggest debacle so far in a modern re-incarnation of fiat paper money unfolded on its 35th anniversary. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Sri Lanka shares weaken, trading dries up
Sept 22, 2008 (LBO) – Sri Lankan shares ended slightly weaker Monday with trading virtually drying up and small investors hunting for bargains in a becalmed market, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index was down 0.50 percent (11.14 […]
High Risk
Sept 22, 2008 (LBO) – Police are trying to track down a Sri Lankan businessman who has fled abroad after duping thousands of people into depositing money with his firm by promising high returns. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Thousands of distraught depositors have […]
EU says it does not want Sri Lanka to lose GSP+ trade deal
Sept 22, 2008 (LBO) – A senior European Union official said it does not want Sri Lanka to lose GSP+ trade concessions but the island must meet eligibility criteria to continue duty free market access to Europe under the deal. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Australian exports to surge despite global slowdown: forecaster
SYDNEY, September 22, 2008 (AFP) – Australian export earnings are set to hit record levels this year due to continued strong demand for raw materials despite a global economic slowdown, the nation’s chief forecaster said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 But Australia’s economy […]
Britain to boost powers of financial regulators
MANCHESTER, September 22, 2008 (AFP) – Britain is to draw up legislation to bolster the role of financial regulators and make it easier to intervene in a crisis to help stem global turmoil, the finance minister said Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 A […]
Goldman Sachs and Morgan Stanley to be holding companies; get more printed money: Fed
WASHINGTON, September 22, 2008 (AFP) – US investment banks Goldman Sachs and Morgan Stanley will become bank holding companies and will receive new US government credit, the Federal Reserve announced late Sunday.Goldman Sachs and Morgan Stanley are the only independent investment banks remaining in the United States following a meltdown on Wall Street that saw […]
Nearly 53,000 China babies sickened by milk powder: govt
BEIJING, September 22, 2008 (AFP) – Nearly 53,000 children in China have been sickened by milk powder contaminated by an industrial chemical, the government said Monday, dramatically ramping up its previous figures.A total of 52,857 children had been brought to hospitals after falling ill, a health ministry spokesman told AFP. Most had “basically recovered” but […]
Former investment banker engineers biggest bailout
WASHINGTON, September 22, 2008 (AFP) – US Treasury Secretary Henry Paulson is a wealthy former Wall Street CEO and free-market thinker who has made a radical turn to help engineer the most extensive government bailout of the US economy in decades. Paulson, 62, two years ago swapped his post as CEO of the venerable Goldman […]
Sri Lanka spreads some prices over two months in inflation reports
Sept 22, 2008 (LBO) – Sri Lanka is calculating point-to-point inflation by spreading some price increases across two months, an official said, adding to a series of recent actions that is casting a shadow over the integrity of the country’s economic statistics. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]