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Falling euro taking toll on RMG, frozen foods, footwear exports

2010-05-27 00:00:00

A Z M Anas and Siddique IslamBangladesh's major export-earning sectors including apparels and sea food stand to suffer as a weakening Euro threatens to dent profits, eroding competitiveness in Europe, their biggest market. Industry leaders say it's going to be...

'Hollow' promises of zero power cut plan

2010-05-27 00:00:00

Shahiduzzaman KhanThe Power Division has failed to live up to its promises to rid the country of power cuts by June this year. As was envisaged, no rental power plants (RPP) could be commissioned as yet. The Division drew up...

Economic growth slows to seven-year low

2010-05-27 00:00:00

Bangladesh said Wednesday that its economy grew at the slowest pace for seven years as the global downturn hit exports while drought and floods cut into agriculture and power troubles rocked industry, reports AFP. The Bangladesh Bureau of Statistics (BBS)...

Stocks shake off losses

2010-05-27 00:00:00

FE ReportDhaka stocks rose sharply Wednesday, helping the benchmark index cross 6,000-mark for the second time, driven by persistent rally in banking stocks.The benchmark DSE General Index (DGEN) was up by 1.41 per cent or 84.97 points to 6073.92, only...

US to support core components of agri economy: Rajiv Shah

2010-05-27 00:00:00

The United States will support strategy and core components of the agriculture economy of Bangladesh as the government is prioritising investment, research, rice, investment in fisheries and livestock, reports UNB.USAID Administrator Dr Rajiv Shah who came here to attend a...

ADB appoints new country director

2010-05-27 00:00:00

FE ReportThe Asian Development Bank (ADB) has appointed Thevakumar Kandiah as the Country Director for the Bank's Bangladesh Resident Mission (BRM).Mr. Kandiah, a Malaysian national, is expected to assume his new assignment on 31 May 2010, an ADB press release...

Govt sacks Pak consultant for poor feat

2010-05-27 00:00:00

Munima SultanaThe government has terminated the Pakistani consultant of the Dhaka-Chittagong four-lane project in the middle of its field-level preparation work for 'unsatisfactory' performances.Roads and Highways Department (RHD) terminated the contract of National Engineering Services Pakistan (NESPAK) on May 18,...

Junk shares and spot market trading prompt SEC probe

2010-05-27 00:00:00

Mohammad MufazzalThe securities regulator served show-cause notices Wednesday on three financial institutions, including a bank, for non-compliance of securities law in giving margin loans and the netting facilities.The move came after an inspection was conducted by the Securities and Exchange...

SAARC rail links to include Dhaka, Ctg-Mongla ports

2010-05-27 00:00:00

Doulot Akter MalaThe country will join SAARC railway links that would connect Dhaka and two major seaports with the South Asian countries to establish a greater intra-regional trade network and integrate economies in the region.The core group on connectivity matters...

20 hurt as RMG workers clash with police

2010-05-27 00:00:00

At least 20 people, including a police officer, were injured when workers of a garment factory clashed with policemen Wednesday at Jamgora under Ashulia industrial belt over wage hike and other financial benefits. Witnesses said around 1,500 garment workers of...

Madhyapara mine workers call off strike

2010-05-27 00:00:00

DINAJPUR, May 26: Madhyapara Hard Rock Mine workers called off their indefinite strike today (Wednesday), after four days of their agitation programme. They decided to withdraw their strike at 3pm today after fruitful talks with the officials of Hard Rock...

Producing more food does not guarantee access to food: PM

2010-05-27 00:00:00

Prime Minister Sheikh Hasina has said that producing more food does not guarantee access to food, and so it rather the purchasing capacity which has to be increased, reports UNB. "Producing more food does not guarantee access to food. People...

Bangladesh, Indonesia, Iran top world disaster risk rankings

2010-05-27 00:00:00

PARIS, May 26 (AFP): Bangladesh, Indonesia and Iran are the countries that are the most vulnerable to natural disasters, according to a study released by Maplecroft, a British risk advisory firm that compiles the Natural Disaster Risk Index (NDRI).Asia's twin...

Musa's feat enters the books

2010-05-27 00:00:00

Musa Ibrahim is the first Bangladeshi to scale Mt Everest. He has been given the official certificate for his feat. Komal Aryal, who was maintaining communication with Ibrahim in Mt Everest, in an e-mail, confirmed bdnews24.com about the official recognition....

Cabinet body gives its nod to three rental power plants

2010-05-27 00:00:00

FE Report The government Wednesday approved the proposals of three rental power plants (RPPs) having a combined capacity of 240 megawatt in its desperate bid to get rid the country of nagging electricity shortage. The cabinet committee on government purchase...

TCB allowed to buy food items for another year

2010-05-27 00:00:00

Fazlur RahmanThe government Wednesday approved a proposal allowing state-run Trading Corporation of Bangladesh (TCB) to buy food items for another year without complying with the country's procurement laws.The approval, which came at the cabinet committee on economic affairs, gave the...

World heads for 4.75pc growth, debt a threat: OECD

2010-05-27 00:00:00

PARIS, May 26 (AFP): The global economy is heading for 4.75-per cent growth this year and next, thanks largely to emerging markets, and beating growth rates before the global downturn, the OECD said on Wednesday. Battered global stock markets regained...

CPA to resolve cargo handling crisis in a week

2010-05-27 00:00:00

FE ReportChittagong Port Authority (CPA) has decided to resolve the LCL (less than container load) cargo handling crisis within a week in a bid to smooth the performance of the country's premier port and save the unduly spent time.The decision...

Wednesday

2010-05-26 00:00:00

ATN Banglaam07:00 Sangbad07:30 Positive Bangladesh 08:00 Sangbad08:30 Drama serial- Kothay Pabo Tare09:00 News Bulletins09:10 Drama - Kande Amar Ma10:00 Sangbad10:30 Hello Banglades11:15 Asian City Vision 202012:00 Sangbad Bulletins12:15 It Zone01:00 Sangbad Bulletins01:25 Band Vew02:00 Sangbad02:30 Drama serial -Baba03:00 Sangbad Bulletins03:15...

Asian stocks drop to lowest since last July

2010-05-26 00:00:00

TOKYO, May 25 (Bloomberg): Asian stocks fell, dragging the MSCI Asia Pacific Index to its lowest level in 10 months, after a report said North Korea's military had been ordered to prepare for combat and concerns grew Europe's debt crisis...

Toyota profit gain too slow for upgrade

2010-05-26 00:00:00

TOKYO, May 25 (Bloomberg): Toyota Motor Corp, the world's largest carmaker, will have insufficient profit to warrant an upgrade of its credit rating this fiscal year, Moody's Investors Service said. Toyota, which Moody's rates the highest among global carmakers at...

US stock-index futures drop on Korean tension, Europe concern

2010-05-26 00:00:00

SINGAPORE, May 25 (Bloomberg): US stock-index futures sank after a report that North Korean leader Kim Jong Il last week ordered his military to prepare for combat and amid mounting concern Europe's debt crisis will endanger the global recovery. Morgan...

Pakistan may buy more sugar than planned in May 29 tender

2010-05-26 00:00:00

KARACHI, May 25 (Bloomberg): Pakistan's Trading Corp may buy more white sugar than planned on May 29, exceeding the 200,000 tons specified in the tender, the chairman of the state-run agency said. "We will buy the full quantity of the...

Brahmanbaria BKB holds performance review meeting

2010-05-26 00:00:00

Our Correspondent BRAHMANBARIA, May 25: Bangladesh Krishi Bank (BKB) held the performance review meeting of branch managers under the bank's Brahmanbaria region for the financial year 2009-10 at the premises of chief regional office in the district town Thursday.BKB General...

Indian stocks fall more than 10pc from April 7 peak, Wipro drops

2010-05-26 00:00:00

MUMBAI, May 25 (Bloomberg): India's stocks fell, with the benchmark index retreating more than 10 per cent from its April 7 peak, as investors sold shares on concern Europe's debt crisis will slow global economic growth. Wipro Ltd, the nation's...

Dubai shares fall most in 2 weeks on IMF forecast, oil decline

2010-05-26 00:00:00

DUBAI, May 25 (Bloomberg): Gulf shares declined with Dubai's benchmark index falling the most in more than two weeks as the International Monetary Fund (IMF) said Dubai's economy will contract this year, oil declined and emerging market stocks slumped. Emaar...

Oil drops below $68

2010-05-26 00:00:00

LONDON, May 25 (Bloomberg): Crude oil declined before a report forecast to show UST supplies are growing, while concern Europe's debt crisis will spread prompted investors to sell riskier assets.Oil dropped below $68 a barrel in New York and reached...

Clothes prices to rise as cotton jumps

2010-05-26 00:00:00

Cotton prices all over the world have jumped as a shortage bites. In Asia, the situation is so acute that Pakistan has slapped a 15pc duty on cotton exports and India has banned exports altogether to keep prices under control....

Corn, wheat, soybeans drop

2010-05-26 00:00:00

LONDON, May 25 (Bloomberg): Corn, wheat and soybeans declined after the seizure of a Spanish bank stoked investor concern that Europe's debt crisis may hurt the global recovery, strengthening the dollar and making US crop supplies more expensive.Corn for July...

BP prepares back-up plan to plug leaking Gulf of Mexico well

2010-05-26 00:00:00

NEW YORK, May 25 (Bloomberg): BP Plc outlined a contingency plan should an attempt to plug a leaking oil well in the Gulf of Mexico using heavy liquids fail.The equipment needed for the "top kill" operation, in which heavy drilling...