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Mercedes Benz denies losing out to BMW in India

2010-01-22 00:00:00

MUMBAI, Jan 21 (Economic Times): Close on the heels of the Auto Expo in New Delhi, Mercedes Benz introduced two new engine variants of their premium E-Class sedan Wednesday.Speaking to TOI, Wilfried Aulbur, MD and CEO of Mercedes-Benz India, dismissed...

Brazil Q1 IPO requests may increase to 10

2010-01-22 00:00:00

SAO PAULO, Jan 21 (Bloomberg): Brazil companies may file as many as 10 requests for initial public offerings this quarter, according to Shearman & Sterling LLP, a New York-based law firm involved in about half the IPOs in Latin America's...

Sensex breaches 17100, capital goods, power fall

2010-01-22 00:00:00

MUMBAI, Jan 21 (Economic Times): Equities were witnessing across the board selling activity as investors booked profits following bearish sentiments in Asian markets. Larsen & Toubro and BHEL were down post reporting third quarter results. At 2:28 pm, Bombay Stock...

Asia's waste to energy to witness rapid growth

2010-01-22 00:00:00

SINGAPORE, Jan 21 (Commodity Online): The breakneck pace of industrialisation in the Asia Pacific has brought in its wake increased quantities of waste and a spurt in energy costs, population, and greenhouse gas emissions. Landfill disposal and incineration do not...

New generation averse to farming in India

2010-01-22 00:00:00

NEW DELHI, Jan 21 (Commodity Online): With population pressure multiplying on the earth, there is a rising tension, more dangerous than the IPCC (Intergovernmental Panel on Climate Change) style global warming - and that is drop in global farm production.Every...

Emirates and Visa offer free tourist visas during Dubai Festival

2010-01-22 00:00:00

Emirates and Visa team offered one month's tourist visas for free for traveling on Emirates and paying with their Visa credit card, debit card or prepaid card in the UAE to experience the excitement of the Dubai Shopping Festival (DSF)...

Industrial metals’ prices to climb 15.0 pc

2010-01-22 00:00:00

SEOUL, Jan 21 (Bloomberg): South Korea, Asia's third-biggest buyer of base metals, forecast that average prices may gain by more than 15 per cent in 2010 as the global economy recovers, and said it plans a further boost to the...

Commodity price may drop 9.0 pc by March

2010-01-22 00:00:00

CHICAGO, Jan 21 (Bloomberg): A measure of commodity prices slipped below its 40-day moving average Wednesday, which may signal a decline of as much as 9 per cent by March, said Paul Hare, a technical analyst with the Linn Group...

Potato cultivation hampered in Rajshahi

2010-01-22 00:00:00

Our CorrespondentRAJSHAHI, Jan 21: Hundreds of Potato farmers of Rajshahi district are worried not to get a good yield due to bitter cold, low-quality seeds and adulterated insecticides.According to the Department of Agricultural Extension (DAE) sources, in the current season...

World's first collection of shoes made of glass

2010-01-22 00:00:00

LOS ANGELES, Jan 21 (Commodity Online): The world's first collection of shoes made of glass will be debuted at a champagne reception on January 29, 2010 from 6pm-9pm on the rooftop patio of the Q by Pasquale Studio at 5616...

Euro sinks to five-month low after Chinese data

2010-01-22 00:00:00

TOKYO, Jan 21 (AFP): The euro fell to a new five-month low against the dollar in Asian trade Thursday as worries that China will take fresh steps to cool its economy reduced demand for risk-sensitive currencies. The European unit dropped...

Gold remains under pressure in Asia

2010-01-22 00:00:00

SINGAPORE, Jan 21 (Commodity Online): Gold prices remained under pressure in Asian trade Thursday as the threat of tighter Chinese monetary policy supported the dollar as a safe haven.Spot gold was at $1,111.10 an ounce at 11.30 am Singapore time,...

Nickel on recovery path in January

2010-01-22 00:00:00

SYDNEY, Jan 21 (Commodity Online): Nickel prices are heading north continuously this week following various news that demand for nickel will soar in the coming days whereas the production of the commodity may suffer in the coming days.However, Australia's second-largest...

exchange rate

2010-01-22 00:00:00

January 21, Thursday The following were the commercial banks' rates to public for some selectedforeign currencies with Bangladesh Taka in cash transaction Thursday.Selling rates to public (outward remittance)BankUSDEuroGBPJPYCHFCADAUDSCBsSonali Bank69.450098.3722113.24980.766366.798066.734263.6481Agrani Bank69.450098.2314113.18130.768466.777566.710363.5287FCBsStanChart69.65101.86113.440.7869.0268.3264.94HSBC 69.5280100.3084114.99170.784767.633467.537064.5178Citibank naNANANANANANANABank of Ceylon69.5400100.5366115.99540.788368.049767.253466.2090PCBsUttara Bank69.500098.8322113.55060.774566.733666.733663.6576AB Bank69.5000100.0196114.81860.7776NANANABuying rates  from public (inward remittance)SCBsUSDEuroGBPJPYCHFCADAUDSonali...

Calm restored in Nigeria's Jos, curfew relaxed

2010-01-22 00:00:00

JOS, (Nigeria), Jan 21 (Reuters): Nigerian authorities relaxed a 24-hour curfew in the central city of Jos on Thursday to allow thousands of residents to return to their homes following religious clashes that killed hundreds.The strong presence of troops and...

Gates warns of dangers in Pakistan militant havens

2010-01-22 00:00:00

ISLAMABAD, Jan 21 (AFP): US Defence Secretary Robert Gates warned Thursday that Taliban safe havens along the Pakistan-Afghanistan border must be tackled or both nations would suffer "more lethal and more brazen" attacks.Writing in Pakistan's The News at the start...

US to increase troops in Haiti as rescue teams pull back

2010-01-22 00:00:00

PORT-AU-PRINCE (agencies): The US is sending another 4,000 sailors and marines to Haiti for the earthquake relief effort, diverting them from deployments in the Gulf and Africa, reports BBC.The 24th Marine Expeditionary Unit and USS Nassau Amphibious Ready Group would...

news digest

2010-01-22 00:00:00

Yemen halts entry visas at airports over Qaeda threatSANAA, Jan 21 : Yemen announced Thursday that it would stop granting entry visas to travellers at the country's international airports in order to "halt terrorist infiltration," the Saba state news agency...

Thrust on business-friendly approach in governing telecom sector

2010-01-22 00:00:00

FE ReportThe existing laws and regulations governing the country's telecom industry should be liberalized to attract more foreign investment in the sector, Post and Telecommunications Minister Raziuddin Ahmed Raju said Thursday. Terming certain provisions of the current set of telecom...

MCCI hails govt step to allow farmers open accounts by depositing Tk 10

2010-01-22 00:00:00

FE ReportThe MCCI hailed the government's initiative to allow cash-starved farmers open accounts with state-owned banks by depositing Tk 10 only.M Anis Ud Dowla, president of Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) in a statement said "Easy access...

Southeast Bank holds w'shop on remittance payment system

2010-01-22 00:00:00

FE ReportA workshop on 'Remittance Payment System' was organised for the officers of Southeast Bank Ltd at the bank's training institute in the city recently.M Serajul Islam, executive director of the bank, inaugurated the workshop as the chief guest.Mr Islam,...

Minimum IPO offloading not applicable to MFs with trust deeds approved: SEC

2010-01-22 00:00:00

FE ReportThe mutual funds (MFs), trust deeds of which were approved before November 5 last, will not come under the purview of the finance ministry's decision that a mutual fund must offload minimum 50 per cent of its units through...

Current account surplus posts $1.7 billion

2010-01-22 00:00:00

Sheikh Shahariar ZamanThe country posted US$1.7 billion current account surplus in July-November period of the ongoing fiscal showing an ominous piling up of unutilised money. The current account surplus is the difference between total domestic income and remittance and total...

Top PCB MDs to attend NY confce

2010-01-22 00:00:00

FE ReportAt least 13 managing directors and chief executives of leading private commercial banks have been invited to attend a chief executive conference, scheduled to be held in New York from January 31 to February 3 this year. US banking...

Eastland Ins holds managers’ conference

2010-01-22 00:00:00

FE ReportEastland Insurance Company Limited held its Regional Managers' Conference 2010 at the Conference Hall of Metropolitan Chamber of Commerce and Industry , Dhaka (MCCI) in the city Thursday.Mahbubur Rahman, chairman of the company, inaugurated the conference, according to a...

Split of nominal value of share from Tk. 100.00 to Tk. 10.00 approved

2010-01-22 00:00:00

FE ReportThe shareholders of Uttara Finance and Investments Limited have unanimously approved the split of nominal value of share of the company from Tk. 100.00 each to Tk. 10.00 each.The approval came at 3rd EGM of the company held Thursday...

RJSCF likely to earn over Tk 500m rev in FY '10

2010-01-22 00:00:00

Fazlur RahmanThe Registrar of Joint Stock Companies and Firms (RJSCF) will earn more than Tk 500 million in the current fiscal year, as more companies are seeking approval for opening new businesses, officials said.In the first six months of 2009-10,...

Banglalink to pay remittance to EBL clients

2010-01-22 00:00:00

FE ReportBanglalink has signed an agreement with Eastern Bank Ltd (EBL) on mobile based remittance service in the city recently, said a press release.Ahmed Abou Doma, CEO and managing director of Banglalink, and his Eastern Bank Ltd counterpart Ali Reza...

City Bank, Gulshan Club sign card acceptance deal

2010-01-22 00:00:00

FE Report City Bank and Gulshan Club have signed an agreement on the acceptance of American Express Credit Cards & VISA Cards. City Bank Managing Director and Chief Executive Officer (CEO) K Mahmood Sattar and Gulshan Club President Rubel Aziz...

China Eastern's special package to visit Guangzhou at $237

2010-01-22 00:00:00

China Eastern Airlines has announced special fare for visitors to Guangzhou, Shenzhen, Hong Kong, Kunming and several other destinations. The company is offering 15 days valid return air ticket at $ 237 plus and 30 days valid return ticket at...