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Apparel accessories exports could top $12b by 2018***

2011-05-04 00:00:00

Sonia H MoniOverseas sales of garment accessories could top US$12 billion by 2018 on strong shipments of apparel items, says a leader of the backward linkage industry. Rafez Alam Chowdhury, president of Bangladesh Corrugated Carton and Accessories Manufacturers and Exporters...

Overseas recruitment rises 14pc in Q1

2011-05-04 00:00:00

Arafat AraOverseas recruitment rebounded in the first quarter of 2011 due to opening of new employment opportunities in the Middle East, even as the region is hit by waves of democratic reform. According to the Bureau of Manpower Employment and...

Bin Laden aides bought big orders of Pepsi, Coke, grocer says

2011-05-04 00:00:00

The two polite Pakistanis who helped Osama bin Laden hide in the shadow of their country's army bought bulk food orders, chose major brands and equally favored Pepsi and Coke, neighbors and a local shopkeeper said. Rashid and Akbar Khan...

Barua assures pvt sector of providing logistic support

2011-05-04 00:00:00

FE ReportBBS Cables launched Monday its high quality lead-free electric wires with an aim to ensure conductivity, safety and reliability. "The aim of the present government is to provide logistic and infrastructural support to the private sector while opening new...

Japanese Co invests $ 5.6m in Adamjee EPZ

2011-05-04 00:00:00

CG Fashions Limited, a Japanese company, will set up a readymade garments unit in the Adamjee Export Processing Zone, says a statement. This fully foreign owned company will invest $9.6 million in setting up their unit and will manufacture readymade...

Pfizer profit rises, sales hit by Lipitor rivals

2011-05-04 00:00:00

NEW YORK, May 3 (AFP): US drugmaker Pfizer said Tuesday that first-quarter earnings jumped 10 per cent despite a 13 per cent hit to sales of its anti-cholesterol drug Lipitor from new generic competition. Net earnings at the world's biggest...

Royal Jet expects up to 15pc revenue growth in 2011

2011-05-04 00:00:00

Private jet operator, Royal Jet, expects its 2011 revenue to grow by up to 15 per cent, despite the turmoil in regional and global markets, the Abu Dhabi-based company's President and CEO, Shane Jeffree O'Hare, told the news agency. "This...

China, Japan, S Korea wary of inflation risk

2011-05-04 00:00:00

HANOI, May 3 (Reuters): Finance ministers of China, Japan and South Korea are mindful of the challenges from inflation, rising commodity prices and the increasing volatility of capital flows to the region, a draft statement seen Tuesday ahead of a...

No hurry to push PTA with Pakistan: India

2011-05-04 00:00:00

NEW DELHI, May 3 (Economic Times): India is in no hurry to push for preferential trade agreement (PTA) with Pakistan despite agreeing to explore the idea at the recent meeting between the two countries. "We could work on a PTA...

Tokyo Electric may face $25b in liabilities

2011-05-04 00:00:00

TOKYO, May 3 (Reuters): Tokyo Electric Power may be asked to shoulder half of an estimated $49 billion in total compensation for damages stemming from its crippled nuclear power plant with other power firms to bear the rest, a Japanese...

S Korea to increase tariff-free imports from May

2011-05-04 00:00:00

SEOUL, May 3 (Xinhua): South Korea plans to increase zero-tariff import items from May as part of efforts to ease prices hikes, the finance ministry said Tuesday. The government will impose lower or no tariffs on 9 additional food imports...

Dish net income more than doubles in 1Q

2011-05-04 00:00:00

ENGLEWOOD, Colo, May 3 (AP): Dish Network Corp, the nation's second-largest satellite TV broadcaster, reported Monday that its first-quarter net income more than doubled, helped by a patent settlement with TiVo Inc. The Englewood, Colo, company also added a net...

Asian Tiger Capital Partners market update on DSE

2011-05-04 00:00:00

The Benchmark General Index DGEN continued its downtrend as the market lost 2.1%. The current market does look like a largely retail driven market and with absence of institutional and big investor's participation, market is lacking serious liquidity and adequate...

Pfizer profit rises, sales hit by Lipitor rivals

2011-05-04 00:00:00

NEW YORK, May 3 (AFP): US drugmaker Pfizer said Tuesday that first-quarter earnings jumped 10 per cent despite a 13 per cent hit to sales of its anti-cholesterol drug Lipitor from new generic competition. Net earnings at the world's biggest...

Royal Jet expects up to 15pc revenue growth in 2011

2011-05-04 00:00:00

Private jet operator, Royal Jet, expects its 2011 revenue to grow by up to 15 per cent, despite the turmoil in regional and global markets, the Abu Dhabi-based company's President and CEO, Shane Jeffree O'Hare, told the news agency. "This...

EU offers aid to build skilled manpower

2011-05-04 00:00:00

FE ReportThe European Union (EU) will provide technical support and training facilities to Bangladesh to help build up skilled human resources, says its envoy. William Hanna, ambassador and head of the EU Delegation in Dhaka, gave the offers during a...

Gulf govts should offset fund to reinvest in local tourism initiatives

2011-05-04 00:00:00

UNITED ARAB EMIRATES, May 3 (AMEinfo.com): Regional governments in the Gulf should consider setting up an offset fund to reinvest in a variety of local tourism initiatives and projects to enhance opportunities for the national workforce, according to a leading...

US factory output beats forecasts

2011-05-04 00:00:00

WASHINGTON, May 3 (BBC): US manufacturing output grew last month, boosted by a weak dollar that made American goods cheaper overseas. The sector expanded to a higher-than-expected level of 60.4 in April, down from 61.2 the previous month, said the...

Emirates likely to increase airfares

2011-05-04 00:00:00

DUBAI, May 3 (Gulfnews): After having increased airfares by about 15 per cent this year, Emirates could be forced to raise them again this year if oil prices continue to rise, Tim Clark, Emirates President, told the news agency. "We...

GE wins $500m contracts from Saudi Electricity

2011-05-04 00:00:00

KHOBAR, May 3 (Reuters): State utility company Saudi Electricity Co (SEC) has awarded General Electric (GE) contracts worth more than $500 million to help SEC add 1,680 megawatts (MW) of generation capacity, the US firm said Monday. GE is the...

Oman finally opens door to Islamic banks

2011-05-04 00:00:00

MUSCAT, May 3 (Reuters): Oman will open the door to Islamic banks and also let conventional lenders run Sharia-compliant operations in a bid to grab a share of the rapidly growing Islamic finance business. A central bank official told the...

Metro posts Q1 net loss

2011-05-04 00:00:00

FRANKFURT, May 3 (AFP): Metro, the world's third-biggest retail distributor, posted Tuesday a first-quarter net loss of three million euros ($4.4 million) while maintaining its earnings targets for the year as a whole. Metro had reported a net loss of...

Korean Air to spend $1.58b on passenger jets

2011-05-04 00:00:00

SEOUL, May 3 (AFP): South Korea's flag carrier Korean Air said Tuesday it would buy a total of seven passenger planes from Airbus and Boeing for nearly $1.58 billion. The airline said the planes-five Airbus A330-200s and two Boeing B777-300ERs-would...

BD team in Russia to finalise deal with Gazprom

2011-05-04 00:00:00

FE ReportA 10-member Bangladesh delegation is now visiting Moscow to finalise a deal with Russian oil and gas company Gazprom over energy sector cooperation, official sources said Tuesday. The team comprising experts on gas well drilling and setting up compression...

Tea sale sees much less demand

2011-05-04 00:00:00

The weekly tea sale in Chittagong Tuesday was marked by much less demand, whereby prices declined quite substantially particularly for the medium and plainer varieties, according to a press release. There was some interest from the Blenders whilst Loose Tea...

Oil eases in Asian trade

2011-05-04 00:00:00

SINGAPORE, May 3 (AFP): Oil eased in Asian trade today as traders digested news of Osama bin Laden's death, but analysts warned prices look set to be tied to unrest in the Arab world and the dollar's value in the...

Emirates likely to increase airfares

2011-05-04 00:00:00

DUBAI, May 3 (Gulfnews): After having increased airfares by about 15 per cent this year, Emirates could be forced to raise them again this year if oil prices continue to rise, Tim Clark, Emirates President, told the news agency. "We...

GE wins $500m contracts from Saudi Electricity

2011-05-04 00:00:00

KHOBAR, May 3 (Reuters): State utility company Saudi Electricity Co (SEC) has awarded General Electric (GE) contracts worth more than $500 million to help SEC add 1,680 megawatts (MW) of generation capacity, the US firm said Monday. GE is the...

Oman finally opens door to Islamic banks

2011-05-04 00:00:00

MUSCAT, May 3 (Reuters): Oman will open the door to Islamic banks and also let conventional lenders run Sharia-compliant operations in a bid to grab a share of the rapidly growing Islamic finance business. A central bank official told the...

Metro posts Q1 net loss

2011-05-04 00:00:00

FRANKFURT, May 3 (AFP): Metro, the world's third-biggest retail distributor, posted Tuesday a first-quarter net loss of three million euros ($4.4 million) while maintaining its earnings targets for the year as a whole. Metro had reported a net loss of...