Profitloss Centerstage Events

The Taliban in a statement has said that it has no intention of handing over Saudi fugitive Osama bin Laden takes the centerstage among all global events which has happened over this week.
Picture Courtesy: Profit loss

Centerstage events of week 3

In retaliation for U.S. phone companies' refusal to pay a...

In retaliation for U.S. phone companies' refusal to pay a new 10% tax, Cuba has blocked direct telephone service from the United States to the communist island, as promised. On Friday, callers in Cuba faced some difficulties when trying to phone the U.S., but it appeared that individuals in the U.S. were unable to reach Cuba. It remains uncertain whether all service from the U.S. to Cuba has been cut or if the disruptions are temporary, as calls may begin to be rerouted through third countries, as has happened in the past when direct service was disrupted.

Monday, 18 December, 2000

Despite the recent sanctions imposed by the United Nations Security...

Despite the recent sanctions imposed by the United Nations Security Council, the Taliban has no intention of handing over Saudi fugitive Osama bin Laden. The Taliban Information Minister, Qudratullah Jamal, made a statement indicating that the policy regarding Osama would not be changed, and added that the UN had no understanding of the situation. Similarly, the Taliban Foreign Minister, Maulvi Wakeel Ahmed Muttawakil, announced that the Taliban would boycott the UN-sponsored talks aimed at reconciling the warring factions in Afghanistan. Additionally, he threatened to close down the offices of the United Nations Special Mission to Afghanistan if the Taliban's overseas offices were to be shut down.

Tuesday, 19 December, 2000

On Thursday, British exploration and production firm Lasmo PLC announced...

On Thursday, British exploration and production firm Lasmo PLC announced that it had received an offer from Eni SpA, Italy's largest oil and gas group, to acquire the company for approximately $4 billion. According to Lasmo, the terms of the offer were agreed upon, and institutional investors who hold 25% of Lasmo's shares also accepted the offer.

Wednesday, 20 December, 2000

According to Lipper Inc., a fund-tracker, U.S. investors exhibited more...

According to Lipper Inc., a fund-tracker, U.S. investors exhibited more caution in November, with the majority of the month's $60 billion in net inflows being invested into taxable money-market funds. In total, bond and money market funds reportedly attracted approximately $52 billion in net new money for the month, a notable increase from the $26.1 billion in inflows for October. Donald Cassidy, senior research analyst and flows specialist at Lipper, noted that while buying activity had decreased, selling had also dried up, resulting in substantial inflows into money market funds, which millions of indecisive investors invest in each month through payroll deductions. During the month, investors added an estimated $8.6 billion to stock funds, compared with $15.4 billion in October. U.S. equity funds contributed to the month's positive flows, attracting $11.6 billion, while world equity funds saw a loss of $4.4 billion.

Thursday, 21 December, 2000

Cadillac Fairview Corp. has announces that it will acquire Toronto-Dominion...

Cadillac Fairview Corp. has announces that it will acquire Toronto-Dominion Bank's ownership stakes in various properties that the two companies jointly owned for 1.28 billion Canadian dollars ($830 million). As a result of the transaction, Cadillac Fairview will become the sole owner of several significant Canadian landmarks, including the Pacific Centre in Vancouver, the Toronto Eaton Centre, and TD Centre in Toronto.

Friday, 22 December, 2000

Victor Borge, the eccentric pianist who gained fame for his...

Victor Borge, the eccentric pianist who gained fame for his whimsical approach to classical music and was affectionately known as the "clown prince" of Denmark, passed away on Saturday at the age of 91. According to his longtime manager, Bernard Gurtman, Mr. Borge died in his sleep at home after having just returned from Copenhagen, his birthplace. Mr. Gurtman noted that Mr. Borge was looking forward to spending Christmas with his family. The late pianist would have celebrated his 92nd birthday on January 3rd. Over several decades, Mr. Borge entertained audiences with his comedic take on classical music, often employing slapstick humor like falling off his bench or playing music in unconventional ways. He also famously incorporated routines like "phonetic punctuation," using funny sounds to represent punctuation marks in his speeches.

Saturday, 23 December, 2000

Sony Corp., NTT DoCoMo Inc., Sakura Bank, and eight other...

Sony Corp., NTT DoCoMo Inc., Sakura Bank, and eight other companies announce that they have reached a preliminary agreement to form a joint venture in January to provide prepaid electronic money services. The coalition includes Toyota Motor Corp., Bank of Tokyo-Mitsubishi, KDDI (also known as DDI Corp.), and Denso Corp. The Sony group will hold a 47% stake in the venture, while NTT DoCoMo and Sakura Bank will each hold a 15% stake, and the remaining companies will hold the remainder. The venture will have a capital of 5.0 billion yen ($44.3 million). The prepaid electronic money service will concentrate on small settlements, distinguishing itself from existing card settlement businesses like credit cards.According to Shigeyuki Kawai, the newly appointed representative director of the joint venture, "I don't think our services will be in a position to compete with other settlement services." The joint venture will combine consumer electronics, telecommunications, financial services, and automobile expertise from leading Japanese firms. The venture plans to issue 30 million non-contact integrated circuit prepaid cards developed by Sony over the next five years and start full-scale services in October next year.

Sunday, 24 December, 2000