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Sensex sheds 130 pts last week

2014-12-28 00:00:00

MUMBAI, Dec 27 (PTI): After logging 1-1/2-week high on the first day of last week, the benchmark S&P BSE Sensex fell by 130 points to end the holiday-shortened week at 27,241.78 on sustained heavy sell-off by foreign funds amid profit-booking...

RCap to seek shareholders nod next month for stake sale

2014-12-28 00:00:00

MUMBAI, Dec 27 (PTI): Reliance Capital (RCap) will seek shareholders' approval for an initial stake sale of 2.77 per cent in the company to Japan's Sumitomo Mitsui Trust Bank (SMTB) at its extraordinary general meeting (EGM) next month. The board...

Santa rally pushes US stocks to record high

2014-12-28 00:00:00

NEW YORK, Dec 27 (AFP): The Santa Claus rally kept rolling on the Wall Street last week, picking up momentum from an outstanding US gross domestic product (GDP) report that lifted the market to new records. The Dow Jones Industrial...

BRAC Bank deal with Midland Bank to help boost remittance in-flow

2014-12-28 00:00:00

FE Desk Report BRAC Bank has recently signed an agreement with Midland Bank Limited. Under this agreement, Midland Bank will execute Xpress Money remittance transactions from all of their outlets as a sub-agent of BRAC Bank Limited. "This agreement is...

Experts for joint effort of govt, realtors, banks

FE Report | 2014-12-28 00:00:00

Speakers at a seminar emphasized an integrated effort among the government, realtors and banks for resolving the problem relating to high interest rate of banks loans to help reverse the prevailing sluggish trend in the real estate business. They also...

Robi Career Carnival held

2014-12-28 00:00:00

Robi Axiata Limited, one of the leading mobile phone operators organized a day long programme named "Robi Career Carnival" at Khulna University Saturday. Robi organized this program to make the students of Khulna University (KU) aware of the career opportunities...

Managing Director of Al-Arafah Islami Bank Limited

2014-12-28 00:00:00

Jamuna Bank Foundation

2014-12-28 00:00:00

Locals elbow out overseas consultants in foreign loan negotiations

Shah Alam Nur | 2014-12-28 00:00:00

Local consultants are now taking the lead in mediating foreign loans in a welcome shift of role-play in consultancy which used to be done by overseas agents, industry-insiders said. Experts, however, said the local consultancy boom has helped enhance negotiation...

Chairman of Social Islami Bank Limited

2014-12-28 00:00:00

Tapan Chowdhury elected BTMA president

2014-12-28 00:00:00

Tapan Chowdhury has been elected president uncontested of Bangladesh Textile Mills Association (BTMA) for the 2015-2016 session, while Fazlul Hoque and Showkat Aziz Russell have been elected vice presidents uncontested of the association. They were elected in the 31st annual...

Managing Director

2014-12-28 00:00:00

ICAB gets new president

2014-12-28 00:00:00

Masih Malik Chowdhury has been elected president of the Institute of Chartered Accountants of Bangladesh (ICAB). Besides, AF Nesaruddin, Kamrul Abedin and Nasim Anwar have been elected vice presidents of the institute for the year 2015. The new office bearers...

China\\\'s Nov industrial profits suffer sharpest fall in 27 months

2014-12-28 00:00:00

SHANGHAI, Dec 27 (Reuters): Chinese industrial profits dropped 4.2 per cent in November to 676.12 billion yuan ($108.85 billion), official data showed on Saturday, the biggest annual decline since August 2012 as the economy hit major unexpected headwinds in the...

Audi to step up investments in 2015-19 on models, plants

2014-12-28 00:00:00

BERLIN, Dec 27 (Reuters): Volkswagen's flagship Audi division is to increase spending on new models, plants and technology through 2019 to push its goal of surpassing German rival BMW as the world's largest luxury-car manufacturer. Audi, which contributes 40 per...

China Shanghai free trade zone to expand to include commercial centre

2014-12-28 00:00:00

SHANGHAI, Dec 27 (Reuters): China will dramatically expand the size of a free trade zone (FTZ) in Shanghai to include the city's commercial centre where major multinational companies and Chinese banks have their headquarters, state media reported. The official Xinhua...

Belarus strongman sacks PM amid economic woes

2014-12-28 00:00:00

MINSK, Dec 27 (AFP): Belarussian strongman Alexander Lukashenko on Saturday sacked his prime minister as the tightly-controlled ex-Soviet state struggles with the effects of Russia's economic crisis next door. Lukashenko dismissed Mikhail Myasnikovich, who had served in his post since...

Japan approves $29b stimulus package

2014-12-28 00:00:00

TOKYO, Dec 27 (AFP): The cabinet of Japanese Prime Minister Shinzo Abe approved a fresh stimulus package worth $29 billion Saturday in a bid to boost the economy, hit hard by a tax hike. The 3.5 trillion-yen package is designed...

Russian economy could shrink 4.0pc next year

2014-12-28 00:00:00

MOSCOW, Dec 27 (AFP): Finance Minister Anton Siluanov said on Friday Russia's economy could suffer a 4.0 per cent contraction next year and see a budget deficit of 3.0 per cent. Siluanov told Russian reporters that the economy would contract...

Economy will \\\'take off\\\' in 2015

2014-12-28 00:00:00

MADRID, Dec 27 (AFP): Spain's Prime Minister Mariano Rajoy promised Friday the country's economy would "take off" again in 2015 but opponents branded his optimism "indecent" with many Spaniards still suffering from cutbacks. After a gradual return to growth, "2014...

Tk 2.0b sought for SME foundation

2014-12-28 00:00:00

FE Report The ministry of industries (MoI) has sought Tk 2.0 billion in endowment funds from the government to help the Small and Medium Enterprise (SME) Foundation reach beyond Dhaka city. Industries secretary recently sent a letter to the senior...

GDP growth may fall short of target, fears UO

2014-12-28 00:00:00

The rate of growth in gross domestic product (GDP) may fall short of the target due mainly to the economic factors-sluggish investment, infrastructural underdevelopments, unsatisfactory collection of revenue vis-à-vis target, low-performance in external sector, and non-economic factors - institutional weaknesses...

Statisticians urged to work for boosting socioeconomic dev

2014-12-28 00:00:00

The statisticians of the country have been urged to play the pioneering role to promote socioeconomic development in the country and meet the global challenges of 21st century. Foreign Minister AH Mahmood Ali made the appeal while addressing as the...

Plan to facilitate development of Sirajganj economic zone

2014-12-28 00:00:00

Rezaul Karim The government has decided to prepare a comprehensive plan to facilitate construction of the proposed Sirajganj economic zone, officials said. The decision came at the meeting of the prime minister's office (PMO) in late November. Abul Kalam Azad,...

Jute-based handloom industries for boosting export emphasised

2014-12-28 00:00:00

RANGPUR, Dec 27 (BSS): Promoting jute-based handloom industries seen vital for enhancing exports of quality jute products and to earn more foreign exchange. Speakers made the observation while speaking at the inaugural ceremony of a five-day training course organised by...

Safe fish farming stressed

2014-12-28 00:00:00

RAJSHAHI, Dec 27 (BSS): Speakers at a training session here today underscored the need for safe fish farming besides promoting its production through the best use of hygienic fish feed alongside the existing natural resources. They viewed that safe fish...

Bumper potato production expected in Rajshahi region

2014-12-28 00:00:00

RAJSHAHI, Dec 27 (BSS): Farmers and other officials concerned are very much hopeful about cherished potato production in the region as overall climatic condition remains favourable towards the farming since its initial stage. With the hope of making profit like...

Jihad drowned in deep tube-well water, doctors say after autopsy

2014-12-28 00:00:00

Jihad's death was caused by suffocation in the water though he had suffered head injuries, too, during his fall into the abandoned deep tube-well, doctors have said after post-mortem of the four-year-old child. Dhaka Medical College and Hospital's Forensic Department...

BD draws world attention in telecom, ICT in 2014

2014-12-28 00:00:00

The country's telecom and ICT (information and communications technology) sectors passed a significant year in 2014 achieving remarkable progress in technology and services, reports BSS. Bangladesh Telecommunication Regulatory Commission (BTRC) data shows that the growth in mobile users was robust...

Airlift begins for hundreds trapped on burning Italian ferry

2014-12-28 00:00:00

Air crews began lifting passengers off a burning ferry adrift in the Adriatic Sea on Sunday, racing to rescue as many of the hundreds trapped on board as possible before nightfall as storms hampered seaborne operations. Helicopters were taking passengers...