Category:
Moderate Safety
August 14, 2007 (LBO) – Lanka Rating Agency (LRA) has confirmed the long-term rating of Sri Lanka’s LB Finance Ltd at BBB3, with a stable outlook. The short-term rating has also been confirmed at L3 An LRA statement said the ratings were based on LB Finance’s “improving financial performance and adequate asset quality” but were […]
No Call
August 14, 2007 (LBO) – The Finance Company (TFC), the flagship finance company of Sri Lanka’s Ceylinco group said it was putting off a cash call due to depressed market conditions. The firm’s company secretary P S Watson said in a stock exchange filing that the company had put off the cash for next year […]
Four Ps
August 14, 2007 (LBO) – Marketing qualifications such as those offered by the Chartered Institute of Marketing offer good opportunities for job seekers in an expanding economy like Sri Lanka, a senior marketer said. Shiraz Latiff, chairman of the Chartered Institute of Marketing Sri Lanka Region, said that with only limited opportunities available to enter […]
Free Birds
August 14, 2007 (LBO) – A Jakarta court has refused a request to extradite directors of Goldquest because the crime for which they were wanted in the Philippines did not exist in Indonesian law, media reports said. The Manila Standard said Presiding Judge Prasetyo Ibnu Asmara of the District Court of South Jakarta released Vijayeswaran […]
Senior army officials from Sri Lanka and 19 nations hold secret talks in Australia
SYDNEY, Aug 14, 2007 (AFP) – Army chiefs from 19 countries, including the United States, Japan and India, met secretly in Sydney ahead of an Asia-Pacific summit in the city next month, the country’s army chief revealed Tuesday. The presence of the military leaders in Sydney, including US General George Casey, at the same time […]
‘s oldest person sprightly until the end
TOKYO, Aug 14, 2007 (AFP) – The world’s oldest person Yone Minagawa, who has died at age 114, was as sprightly as ever until the moment she got into bed for her eternal rest, her caretaker said Tuesday.Minagawa, who enjoyed good food and a bit of alcohol, died Monday at a nursing home in Japan’s […]
Goldman Sachs finds backers to bailout hedge fund
NEW YORK, Aug 13, 2007 (AFP) – Goldman Sachs, considered one of Wall Street’s most prestigious investment banks, said Monday it had joined with other investors in a three-billion-dollar bailout of a hedge fund it manages. Goldman said it was pumping funds into the Global Equity Opportunities (GEO) hedge fund after recent financial market volatility […]
Japan to withdraw 600 billion yen from money market
TOKYO, Aug 14, 2007 (AFP) – The Bank of Japan said Tuesday it will withdraw 600 billion yen (5.0 billion dollars) from the short-term money market through sales of treasury notes, a move aimed at easing excessive liquidity.The step came after the central bank had injected 600 billion yen into the banking system on Monday […]
” battery, literally
CHICAGO, Aug 13, 2007 (AFP) – US researchers said Monday they have invented a lightweight paper battery that could serve as an enhanced power storage device for the next generation of consumer electronic devices.The battery produces electricity in the same way as the conventional lithium-ion batteries that power so many of today’s gadgets, but all […]
Sri Lanka hosts international AIDS conference, chance to share techniques
Aug 14, 2007 (LBO) – Sri Lanka’s health sector will have the opportunity to study and adopt new techniques in the long term battle against HIV/AIDS during an international conference to be held in August 19-23. Organisers of the conference, to be attended by over 2,000 delegates from 40 countries, also said it would help […]
Swapping Risk
August 14, 2007 (LBO) – The Ceylon Petroleum Corporation (CPC), Sri Lanka’s state-owned petroleum firm has used a leveraged swap to hedge a small part of its oil imports during the past month with good results so far, officials said. Diesel spot prices had moved to around 84 dollars a barrel. CPC is held back […]
Economists slam the real culprits behind subprime debacle
FRANKFURT, Aug 14, 2007 (AFP) – By injecting billions into the money markets in the wake of fears about the US housing market, central banks are reaping what they have sown after years of low interest rates, analysts said Tuesday.IKB’s main shareholder, the German state-owned KfW bank, came to the rescue by providing an 8.1-billion-euro […]