Category: Other
‘s future today
WASHINGTON, May 14, 2007 (AFP) – The World Bank executive board will decide on Tuesday whether bank president Paul Wolfowitz can continue to lead the institution, the bank said in a statement on Monday. A special bank committee “recommends the Executive Directors to consider whether Mr.Wolfowitz will be able to provide the leadership needed to […]
Kate Webb, legendary Asian correspondent, dies
SYDNEY, May 13, 2007 (AFP) – Through wars, disasters and coups, foreign correspondent Kate Webb chronicled the turbulent birth of modern Asia, becoming a media legend who had the eerie experience of reading her own obituary. Webb, who died of cancer on Sunday at 64, covered many of Asia’s seminal events of the last four […]
Swiss central banker sees more rate hikes, to keep inflation below one percent
GENEVA, May 13, 2007 (AFP) – Further increases in Swiss interest rates are still on the cards, one of Switzerland’s central bankers said Sunday, while also praising the management of the euro currency.The eurozone is Switzerland’s biggest foreign trade market. Thomas Jordan, who joined the board of the Swiss National Bank on May 1, told […]
‘s inflation 3.0% in April, down from March
BEIJING, May 14, 2007 (AFP) – China’s consumer price inflation eased in April, rising 3.0 percent from a year earlier, the National Bureau of Statistics said Monday. The index, a key indicator of consumer inflation in the world’s fourth-largest econnomy, was down from a year-on-year rise of 3.3 percent in March. Compared with March, consumer […]
Money printing, 2,200% inflation keep 80% of Zimbabweans in poverty
HARARE, May 13, 2007 (AFP) – Zimbabwean cashier Cosmas Gwizo does not look forward to pay day.For the 43-year-old earning 500,000 Zimbabwean dollars a month (about 2,000 dollars) the receipt of his salary cheque is a painful rather than joyous occasion. “Each time I receive my pay cheque I start scratching my head trying to […]
More Victims
May 14, 2007 (LBO) – A listed Islamic insurer said it was suspending a proposed bonus issue, while a shipping firm said it had sought legal advice on how to proceed after a new company law made bonus issues redundant. The new law does not recognize bonus issues, and firms that want to issue more […]
World Bank gives Wolfowitz more time
WASHINGTON, May 9, 2007 (AFP) – The board of the World Bank has given an additional week to embattled bank president Paul Wolfowitz to defend himself in a nepotism scandal, the bank said in a statement Wednesday.“The Executive Directors met today to consider a request from the President for additional time to comment on the […]
Sri Lanka raises fuel prices
May 11, 2007 (LBO) – Sri Lanka has raised fuel prices from midnight Friday with diesel going up by two rupees, petrol by one rupee and furnace oil by three rupees a litre, a Ceylon Petroleum Corporation official said.This would push 90-Octane petrol to 106 rupees and 95-Octane petrol to 109 rupees with standard auto-diesel going […]
Another One
May 11, 2007 (LBO) – Chemanex, a listed chemical firm, has postponed a shareholder meeting called to ratify a bonus issue after a new company law came into effect earlier this month, the company said Friday. The company said the Stock Exchange had informed Chemanex that a ‘bonus issue’ declared by the board of directors […]
No Split
May 10, 2007 (LBO) – A listed hotel firm in Sri Lanka has decided not to go ahead with a share split citing provisions in a new company law that came into effect earlier this month. Dividends declarations are subjected to solvency tests under the new law. Associated Hotels, went through a process to split […]
Splitting Hairs
May 9, 2007 (LBO) – Firms that declared a ‘bonus’ issue but have not yet ratified it with a shareholder vote will have to go through a process under the new company law and ‘split’ the shares, officials and legal experts said. A new company law came into effect in Sri Lanka on May 03, […]
Miscreants Beware
May 7, 2007 (LBO) – Sri Lanka’s new Companies Act will force firms to better comply with listing rules and help clean up the ‘Default Board’ of the Colombo Stock Exchange, legal experts and officials said. The new law imposes tougher penalties for non-compliance with disclosure requirements and could have a deterrent effect on listed […]