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weekly foreign exchange market review

2014-03-01 00:00:00

Taka slightly appreciates against dollar Feb 23 - Feb 27, 2014 Commercial Bank of Ceylon PLC The local currency appreciated a little bit against the green back last week. It was traded at 77.73 levels on the last day of...

Indian shares post biggest weekly gain since end-Nov 2013

2014-03-01 00:00:00

MUMBAI, Feb 28 (Reuters): Indian shares rose for a fifth consecutive session on Friday to post their strongest weekly gain in three months after blue-chips surged, including Tata Motors which rallied to a record high, on heavy buying by foreign...

BD to sign final deal March 7

2014-03-01 00:00:00

FE Report Bangladesh will sign the final deal with a consortium of 18 countries on March 7 for being connected with the 2nd undersea submarine cable by 2016. Chairman of Bangladesh Submarine Cable Company Ltd (BSCCL) Abu Bakar Siddique and...

Move underway to issue \\\'halal\\\' certificates to firms

Md Shah Jahan | 2014-03-01 00:00:00

The government has taken an initiative to provide 'halal' certificates to the business entities those want to enter the US$2.3 trillion global halal market. The Bangladesh Accreditation Board (BAB) under the Ministry of Industries (MoI) is preparing the procedures for...

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2014-03-01 00:00:00

Upturn in summer vegetables prices

2014-03-01 00:00:00

FE Report Prices of a few summer vegetables were high on Friday while rice witnessed a slight fall. Traders said while chicken meat, garlic prices reduced, ginger prices increased significantly. Overall, they said, other commodity prices remained static on the...

19 jute-spinning mills shut in 8 months

Arafat Ara | 2014-03-01 00:00:00

The country's jute millers and spinners are passing a hard time following lower demand and prices of their products in overseas market as well as currency devaluation in India. At least 19 jute mills and spinning mills were shut during...

Frozen fish exports to Russia set to resume this month

Ismail Hossain | 2014-03-01 00:00:00

Frozen fish export to Russia, suspended for allegedly not maintaining quality up to the market, would resume soon. The government has initiated moves to clear the way for resumption of shrimp and other frozen fishes exports to Russia, Fisheries and...

Sony to sell its Tokyo \\\'birthplace\\\'

2014-03-01 00:00:00

TOKYO, Feb 28: Sony will sell properties at a prestigious Tokyo site where it had its headquarters for six decades, as the once-world beating firm struggles to improve its bottom line, reports said Friday. The company is looking for a...

Yellen says Fed has no authority on bitcoin issues

2014-03-01 00:00:00

WASHINGTON, Feb 28 : The Federal Reserve has no authority to regulate or otherwise deal with the crypto-currency bitcoin, Fed Chair Janet Yellen said Thursday. Yellen said in a Senate hearing that the banks under its regulatory purview were not...

German court throws out lawsuits against Apple

2014-03-01 00:00:00

BERLIN, Feb 28: A German court threw out on Friday two copyright violation lawsuits against US tech giant Apple by German firm IPCom. "Both suits were rejected. IPCom can now appeal against the verdict," a spokesman for the court in...

German retail sales surprisingly strong

2014-03-01 00:00:00

FRANKFURT, Feb 28 (AFP): German retailers reported a surprisingly strong increase in business at the start of the year, official data showed on Friday. Retail sales, a closely watched measure of household confidence, increased by 2.5 per cent in January...

Italian unemployment rate hits record 12.9 pc

2014-03-01 00:00:00

ROME, Feb 28 (AFP): Italy's unemployment rate reached a record 12.9 per cent last month and youth joblessness also hit the highest-ever level at 42.4 per cent of 15-24-year-olds not in school or university, official data showed on Friday. The...

Spanish inflation drops to zero in February

2014-03-01 00:00:00

MADRID, Feb 28 (AFP): Spain's inflation rate dropped to zero in February, an official estimate showed Friday, as fears of a damaging deflationary spiral haunted sluggish eurozone economies. Consumer prices were unchanged in February after edging up by just 0.3...

Drought forces water rationing on millions of Malaysians

2014-03-01 00:00:00

KUALA LUMPUR, Feb 28 (AFP): Malaysia said Friday it will expand water rationing in and around its capital, in a move affecting millions as drought continues to scorch a tropical country usually synonymous with torrential rain. The national water commission...

Chinese mobile brands adapt to global stage

2014-03-01 00:00:00

BEIJING, Feb 28 (Xinhua): China's leading smartphone makers have adapted to the world stage and improved their marketing efforts, according to experts with consumer behavior group Kantar WorldPanel. Chinese smartphone makers showcased their products at the four-day Mobile World Congress...

Japan may act on Bitcoin: Minister

2014-03-01 00:00:00

TOKYO, Feb 28 (AFP) : Japan's finance minister said Friday he always thought Bitcoin was suspect and said the country might take action following the apparent collapse of a Tokyo-based exchange for the virtual currency. Taro Aso's comments came after...

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2014-03-01 00:00:00

Indian rupee down 14 paise against dollar

2014-03-01 00:00:00

Mumbai, Feb 28 (PTI): The Indian rupee fell by 14 paise to 62.12 against the dollar in early trade today at the Interbank Foreign Exchange due to month-end demand for the American currency from importers, including oil firms. Besides, euro's...

Dollar falls below 102 yen on US stimulus speculation

2014-03-01 00:00:00

TOKYO, Feb 28 (AFP) : The dollar fell below 102 yen in Asia on Friday on speculation that the Federal Reserve could shift its tapering policy if recent weak data is a sign of a fundamental change in growth. The...

Oil prices down in Asian trade

2014-03-01 00:00:00

SINGAPORE, Feb 28 (AFP) : Oil prices fell further in Asian trade Friday owing to concerns over soft US economic data and the unfolding crisis in Ukraine. New York's main contract, West Texas Intermediate (WTI) for April delivery, eased 42...

Qantas unable to justify 5,000 job losses :Union leaders

2014-03-01 00:00:00

SYDNEY, Feb 28 (AFP) : Union leaders Friday said Qantas boss Alan Joyce could not justify why he needs to cut 5,000 jobs during crisis talks as the carrier stepped up pressure on the government to help stem massive losses....

Bangladesh face Afghanistan today

2014-03-01 00:00:00

Bangladesh take on Afghanistan in their second crucial match of Asia Cup Cricket scheduled to be held today (Saturday) at the Khan Shaheb Osman Ali Stadium in Fatullah. The day/night match kicks off at 2:00 pm. Pacer Mashrafe Mortaza ruled...

Clarke \\\'disappointed\\\' over Warner comments

2014-03-01 00:00:00

CAPE TOWN, Feb 28 (AFP): Australian captain Michael Clarke Friday criticised David Warner over comments that earned the opening batsman a fine from International Cricket Council match referee Roshan Mahanama. Warner was fined 15 percent of his match fee for...

Court summons Pakistan ton hero Akmal

2014-03-01 00:00:00

LAHORE, Feb 28 (AFP): Pakistan batsman Umar Akmal may have rescued his team with a fighting hundred in the Asia Cup this week, but he is still in trouble with the law. A court has summoned the 23-year-old to appear...

No decision on IPL venue, BCCI to wait for election schedule

2014-03-01 00:00:00

BHUBANESWAR, Feb 28 (PTI): Desperate to keep a bulk of the Indian Premier League (IPL) matches in India, the BCCI Friday decided to wait till the announcement of the dates of general elections before finalising the venues of the Twenty20...

Lanka restrict India to 264-9 in Asia Cup

2014-03-01 00:00:00

FATULLAH, Feb 28 (AFP): Spinners Ajantha Mendis and Sachithra Senanayake shared seven wickets as Sri Lanka kept India down to 264-9 in the Asia Cup one-day tournament in Fatullah Friday. Opener Shikhar Dhawan hit 94 as India, sent in to...

B’desh lose injured Mortaza for Asia Cup

2014-03-01 00:00:00

Bangladesh fast bowler Mashrafe Mortaza was Friday ruled out for the rest of the Asia Cup due to a side strain, dealing a further blow to the depleted hosts, reports AFP. "Mashrafe won't play in the Asia Cup and we...

School V’ball meet begins

2014-03-01 00:00:00

The Orient Bread School Volleyball Tournament began Friday at the Shaheed Suhrawardy Indoor Stadium in Mirpur, reports BSS. Vice President of Bangladesh Volleyball Federation and Managing Director of Orient Food Company Limited Mahbub Uz Zaman formally inaugurated the four-day meet...

Moghbazar-Mouchak flyover work compounds sufferings

2014-03-01 00:00:00

It has been nearly a year since the construction works on the integrated Moghbazar-Mouchak Flyover Project began, but the progress of works so far is only 20 per cent, causing a lot of hassles to residents, commuters and shop owners...