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Pakistan's foreign investment drops 58pc in July-Oct

2011-11-23 00:00:00

ISLAMABAD, Nov 22 (Xinhua): The State Bank of Pakistan's latest data showed that investors remained cautious to inject foreign investment in Pakistan, which witnessed a fall of 58 per cent in the first four months of current financial year (July...

EU to ease visa rules if India opens its market

2011-11-23 00:00:00

NEW DELHI, Nov 22 (Economic Times): The European Union is ready to ease visa rules for professionals if India agrees to open up more of its sectors and markets as part of a proposed free-trade agreement the two sides hope...

Asian Tiger Capital Partners market update on DSE

2011-11-23 00:00:00

The Benchmark General Index DGEN rallied sharply after slowing down previous day to register gain of more than 5 percent. The market got added impetus on DSE board's 8 point recommendations to the regulator which included making sponsor holding to...

BERC suggests 9.09pc rise in retail power tariff for DPDC consumers

2011-11-23 00:00:00

An evaluation committee of the Bangladesh Energy Regulatory Commission (BERC) Tuesday suggested raising electricity tariffs by 9.09 per cent for the retail consumers in the city, living in the areas administered by the Dhaka Power Distribution Company (DPDC), reports UNB....

'India's sustained high food inflation warrants monetary steps'

2011-11-23 00:00:00

HYDERABAD, India, Nov 22 (Reuters): India's central bank Chief Duvvuri Subbarao Tuesday said monetary steps may be warranted to curb inflation expectations in face of sustained high food inflation, flagging the need to revisit politically sensitive subsidy schemes in agriculture....

Tea prices steady on good demand in Bangladesh

2011-11-23 00:00:00

Tea prices in Bangladesh were steady at weekly auction on Tuesday after edging up at the previous week for the first time in two months, due to good demand from buyers while the amount sold dropped, brokers said, reports Reuters....

Brent oil rises above $107 on new Iran sanctions

2011-11-23 00:00:00

SINGAPORE, Nov 22 (Reuters): Brent crude rose above $107 a barrel Tuesday as fresh sanctions on Iran, and the prospect of possible military action, offset persistent worries about the health of Western economies and their fuel demand. The United States,...

Distributors plan to revamp local cinemas to screen Indian films

2011-11-23 00:00:00

Jasim Uddin Haroon Film distributors Tuesday expressed their hope to revamp the country's movie theatres following government's permission to screen Indian films in the local cinemas. The government banned screening of Indian movies in the local cinemas in 1973 to...

Gold rebounds, Europe, US debt worry weighs

2011-11-23 00:00:00

SINGAPORE, Nov 22 (Reuters): Spot gold rebounded Tuesday, as a decline of more than 2 percent in the previous session attracted some buyers, while worries about debt crises in both the United States and the euro zone are expected to...

US Q3 growth revised down to 2.0pc

2011-11-23 00:00:00

WASHINGTON, Nov 22 (Reuters): The US economy grew at a slightly slower pace than previously estimated in the third quarter, but weak inventory accumulation amid sturdy consumer spending strengthened views output would pick up in the current quarter. Gross domestic...

Nitol-Niloy, Tata Motors jointly set up driving training institute in country

2011-11-23 00:00:00

FE Report Nitol-Niloy group and Tata Motors (India) have jointly established an international standard driving training institute in Bangladesh with a view to helping reduce road accidents and widen the scope of manpower export of the country. The information was...

Outsourcing emerging as promising sector

2011-11-23 00:00:00

FE Report Outsourcing can create employment opportunities for a large number of people as it is emerging as a promising sector, said speakers. They think the sector will be best one for earning foreign currency like RMG sector after a...

WTO sees export growth slowing

2011-11-23 00:00:00

GENEVA, Nov 2 (AFP): The World Trade Organisation (WTO) said Monday in its annual report that the worsening outlook for the global economy has led to slower growth in exports. "The outlook for the global economy has worsened considerably in...

Debt crisis sweeps towards heart of Europe

2011-11-23 00:00:00

BRUSSELSMADRID, Nov 22 (Reuters): The euro zone's debt crisis swept closer to the heart of Europe despite a clear-cut election victory in Spain for conservatives committed to austerity, adding to pressure on the European Central Bank to act more decisively....

'Bangladesh next hub in IT sector after China, India'

2011-11-23 00:00:00

Ed Franklin Senior Advisor of Virtustream, a leading enterprise cloud software and services provider, said Bangladesh looks like the next hub in the IT sector after China and India, said a statement. Programmes such as Digital Bangladesh 2021 and the...

Govt's high bank borrowing to swell inflation : IMF

2011-11-22 00:00:00

FE Report The International Monetary Fund (IMF) Monday cautioned that the increased government borrowing from the banking system would fuel further the inflationary pressures in future. The caution came from IMF resident representative Eteri Kvintradze who made the key observations...

Intel agency blames govt's big bank borrowing, BB monetary policy

2011-11-22 00:00:00

Nazmul Ahsan An intelligence report has held the large-scale borrowing by the government from the country's banking system and the tight monetary policy of Bangladesh Bank (BB) responsible for the current liquidity crisis in the capital market. The report, a...

Institutional, foreign investors' tax cut likely

2011-11-22 00:00:00

Mohammad Mufazzal The much-awaited stock market 'bail-out' package is likely to include, among others, reduction or waiver of tax on the income of institutional and foreign investors' investment in the secondary market, sources said. They said the government is considering...

DSE's 8-point proposal to stabilise stock mkt

2011-11-22 00:00:00

FE Report The Dhaka Stock Exchange (DSE) Monday framed eight-point proposal, including making a provision of holding at least 30 per cent stakes by sponsor-directors, to help enhance their accountability to the shareholders in a bid to stabilise the stock...

More incentives for armed forces men under study: PM

2011-11-22 00:00:00

Prime Minister Sheikh Hasina Monday said her government is actively considering introducing a number of financial incentives and peace-medal for the members of the armed forces alongside the regular gallantry awards in recognition of their service to the nation, reports...

SC upholds chamber judge's order on GP operations

2011-11-22 00:00:00

A full Appellate Division bench headed by the chief justice has upheld the chamber judge's order for the Bangladesh Telecom Regulatory Commission (BTRC) not to hamper operations of Grameenphone, reports bdnews24.com. The court also asked the parties to settle in...

NBR allows black money incapital mkt without question

2011-11-22 00:00:00

Doulot Akter Mala The National Board of Revenue (NBR) Monday cleared its position on accepting undisclosed money in the country's capital market without asking for its source in a bid to restore confidence of the investors. The board has sent...

Inflation drops on point-to-pointbasis, rises on CPI gauge in Oct

2011-11-22 00:00:00

Siddique Islam The country's inflation as measured by consumers' price index (CPI) increased slightly further in the month of October on annual average basis, but declined point-to-point, officials said Monday. The rate of inflation dropped by 0.55 percentage point in...

Muhith to address press confce Nov 27

2011-11-22 00:00:00

Finance Minister AMA Muhith will address a press conference on November 27 on the prevailing economic situation of the country. The press conference will be held at the NEC in Sher-e-Bangla Nagar of the city, said a Finance Ministry official....

Moderate tremor jolts country

2011-11-22 00:00:00

A moderate tremor jolted some parts of the country including the capital Monday morning. The Meteorological department said the tremor measuring 5.9 on the Richter scale shook the city at 9:15:41 am. Its epicenter was 468 kilometres off northeast of...

Libya returnees get Tk 50,000 each

2011-11-22 00:00:00

A total of 35,085 Libya returnees have received a cash of Tk 50 thousand each under the 'workers rehabilitation project' of the World Bank. "As per our target, all Libya returnees will get cash help. If anyone is dropped, the...

Mamun's plea to scrap money laundering case dismissed

2011-11-22 00:00:00

The High Court (HC) has rejected a petition of Giasuddin Al-Mamun, business partner and friend of BNP Senior Vice-chairman Tarique Rahman, meaning they will have to stand trial on charges of laundering money abroad. The bench of justices Syed Muhammad...

Devising law for best use of social media stressed

2011-11-22 00:00:00

FE Report Speakers at a discussion in the city Monday said a time-befitting law should be formulated to protect the cyberspace users and for the best use of the booming social media for upgrading democracy in the South Asian countries....

India asks for more info on Bangabandhu killers

2011-11-22 00:00:00

NEW DELHI, Nov 21 (bdnews24.com): Though Bangladesh and India agreed to finalise the extradition treaty at the earliest, New Delhi has told Dhaka that it could not locate the two absconding killers of Bangabandhu Sheikh Mujibur Rahman and asked for...

Sayedee gave fatwa 'legalising war booty including women'

2011-11-22 00:00:00

The chief prosecutor on Monday told the International Crimes Tribunal that accused Delwar Hossain Sayedee during the liberation war had pronounced 'fatwa' (Islamic religious edict) legalising war booty, including goods, chattels and women, captured from the 'enemies' terming those 'mal-e-ganimat...