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US trying to stifle UN climate summit

2009-11-17 00:00:00

THE rich countries, historically responsible for CO2 pollution, are trying to subvert the Copenhagen UN Conference on Climate Change, scheduled for December. An avaricious US Congress, together with extremely powerful "dirty energy" and military lobbies, may succeed in foiling the...

Reducing trade deficit

2009-11-17 00:00:00

RECENT statistics show that Bangladesh has managed to reduce its trade deficit in the first quarter of the current fiscal by $650 million compared to the period of the previous fiscal. The government deserves appreciation for the success.Bangladesh needs to...

Foreign currency reserve: its cost and management

2009-11-17 00:00:00

Dr. Jamaluddin Ahmed FCA Foreign currency liquidity management is an important issue for any country. Since a country's ability to provide foreign currency liquidity is limited to its reserves, the selling of other liquid foreign exchange assets, and its borrowing...

Indian stocks rise as Sterlite loses Asarco takeover battle

2009-11-17 00:00:00

MUMBAI, Nov 16 (Commodity Online): Vedanta resources group company, Sterlite Industries India Ltd (BOM: 500900) gained momentum on the Bombay Stock Exchange (BSE) as the company lost the takeover battle for Asarco.Sterlite Industries stocks gained by over 3.3 per cent...

US stocks climb as earnings at Walmart, Disney top estimates

2009-11-17 00:00:00

NEW YORK, Nov 14 (Bloomberg): US stocks climbed for a second week as the Group of 20 nations agreed to maintain economic stimulus efforts and profits at companies from Wal-Mart Stores Inc to Walt Disney Co beat analysts' projections.Walmart, the...

Nat'l Agriculture Day observed in Joypurhat

2009-11-17 00:00:00

Our Correspondent JOYPURHAT, Nov 16: National Agriculture Day was observed in the district Sunday. Deputy Commissioner (DC) Abu Syad Mohammad Hashim inaugurated the function by planting Amon Paddy at the DC office area in the morning. The day was observed...

Hong Kong's stock index doubles from March low

2009-11-17 00:00:00

HONG KONG, Nov 16 (Bloomberg): Hong Kong stocks rose for a second day, lifting the benchmark index 100 per cent higher than its March low. Banks led gains after Goldman Sachs Group Inc. recommended investors buy China Citic Bank Corp.China...

Canadian stocks rise as gold producers advance, insurers fall

2009-11-17 00:00:00

TORONTO, Nov 13 (Bloomberg): Canadian stocks rose, completing a second-straight weekly gain, as investors grew more confident in a global recovery and moved money from the US dollar to higher yielding assets, boosting gold producers.Barrick Gold Corp, the world's largest...

Kinetics, Horizon funds cut holdings in London stock exchange

2009-11-17 00:00:00

LONDON, Nov 13 (Bloomberg): Kinetics Asset Management Inc and sister company Horizon Asset Management Inc cut their combined stake in London Stock Exchange Group Plc to below 7 per cent, regulatory filings show.The New York-based funds, which together held about...

Honda to downsize Spanish factory

2009-11-17 00:00:00

TOKYO, Nov 15 (AFP): Japanese auto giant Honda Motor has decided to scale down its Barcelona factory in a bid to overhaul its motorcycle operations in Europe, a report said Monday. The Spanish factory, which has annual output capacity of...

T-Aman growers hope for a good harvest

2009-11-17 00:00:00

Our CorrespondentNILPHAMARI, Nov 16: Agriculture officials of the district are expecting to achieve the production target set for transplanted Aman this year.Local farmers are also expecting a good yield of T-Aman crop in the current harvesting season.Despite initial setbacks, including...

Emirates weighs share sale amid signs of recovery

2009-11-17 00:00:00

DUBAI, Nov 16 (Bloomberg): Emirates Airline, the biggest Arab airline, said it may be ready to sell shares to the public in two to three years as the global air-travel market shows signs of recovery and Middle Eastern carriers expand...

Oil higher as dollar stays weak

2009-11-17 00:00:00

SINGAPORE, Nov 16 (AFP): Oil was higher in Asian trade Monday as investors bought into commodities including crude on the back of a weak dollar, analysts said. New York's main contract, light sweet crude for December delivery put on 71...

Yen gains on strong Japanese growth data

2009-11-17 00:00:00

TOKYO, Nov 16 (AFP): The yen rose against the dollar in Asian trade Monday in the wake of unexpectedly strong Japanese economic growth figures. The dollar was quoted at 89.50 yen in Tokyo afternoon trade, down from 89.66 in New...

Gold hovers near $1128 an ounce in Asia

2009-11-17 00:00:00

SINGAPORE, Nov 16 (Commodity Online): Gold prices surged towards an all-time record in Asian trade Monday as the dollar extended its decline against major currencies.Bullion for immediate delivery was seen trading at $1127.90 an ounce at 12.00 noon Singapore time...

Rubber climbs as Japan's growth data boosts commodity demand

2009-11-17 00:00:00

TOKYO Nov 16 (Bloomberg): Rubber rebounded after data showed Japan's economy expanded more than projected, boosting investor confidence that an economic recovery will increase demand for the commodity used in tires.Prices in Tokyo rose as much as 1.3 per cent,...

India witnesses 92 pc increase in sugar prices

2009-11-17 00:00:00

CHICAGO, Nov 16 (Commodity Online): World's largest sugar consumer, India witnessed a whopping 92 per cent increase in prices for the commodity this year.India imported supplies to cover a production deficit while in Brazil, the biggest producer, excess rain has...

exchange rate

2009-11-17 00:00:00

November 16, Monday The following were the commercial banks' rates to public for some selectedforeign currencies with Bangladesh Taka in cash transaction Monday.Selling rates to public (outward remittance)BankUSDEuroGBPJPYCHFCADAUDSCBsSonali Bank69.4500104.3259116.36200.782469.078866.479965.2116Agrani Bank69.3500102.6051111.16000.794267.597065.992162.6260FCBsStanChart69.50105.88118.200.8470.5966.8366.05HSBC 69.4770105.9020118.15160.824669.740966.573165.6842Citibank naNANANANANANANABank of Ceylon69.5400106.1276118.29020.803671.352367.396867.3217PCBsUttara Bank69.5000104.7530116.58000.790368.904166.511165.1583AB Bank69.4500105.7773117.71020.7931NANANABuying rates  from public (inward remittance)SCBsUSDEuroGBPJPYCHFCADAUDSonali...

Tuesday

2009-11-17 00:00:00

BTVam07:00 Announcement, Recitation From The Holy Quran, Programme Outline And The Holy Tripitak Paath07:10 Saswato Jibon07:15 Suvechaa Nin08:00 Morning News08:30 Open Univercity09:00 Sangbad Shironam09:15 Satellite Transmission11:15 Sukhi Paribar11:40 Sangeeta Anusthan12:00 Sangbad Shironam12:05 Sangbadpatrer Pata Theke12:30 Drama Serial- Swapno Sonargaon01:00 Sabar...

New president, vice-president of FICCI

2009-11-17 00:00:00

FE ReportAM Hamim Rahmatullah, managing director and CEO of Singer Bangladesh Ltd and regional vice-president of Singer Asia Ltd, has been elected president of the Foreign Investors' Chamber of Commerce and Industry (FICCI) for the 2009-11 period. Mr Steve Wilson,...

Pubali Bank opens 373rd branch at Nalchiti

2009-11-17 00:00:00

Pubali Bank Limited has recently opened its 373rd branch at Nalchiti in Jhalkathi district to provide modern banking services for the clients.Chairman of the Executive Committee and Director of the bank Syed Moazzem Hussain inaugurated the branch as the chief...

RAK Ceramics would be 1st co under Book Building method

2009-11-17 00:00:00

FE ReportRAK Ceramics (Bangladesh) Limited will make debut on the stock market as early as possible through Book Building method. But the indication price of its shares is yet to be fixed, the source said.According to the rules of Book...

NCC Bank opens 61st branch

2009-11-17 00:00:00

FE ReportNCC Bank Limited opened its 61st branch with online facility at Madhupur, Tangail Sunday. Chairman of the Bank Yakub Ali formally inaugurated the branch as chief guest. Managing Director & CEO Mohammed Nurul Amin presided over the function.Chairman of...

Use of e-commerce to help int'l trade

2009-11-17 00:00:00

FE Report Officials of World Chambers Network said local companies could enhance their business activities through an effective electronic networking. South Asia Cluster Project, an official global portal of chambers of commerce, partly funded by the European Union with the...

National Asset Management to start operation soon

2009-11-17 00:00:00

FE ReportSecurities and Exchange Commission has recently awarded asset management license to National Asset Management Ltd. as seventh private sector Asset Management Company (AMC) in Bangladesh.The Company will very shortly commence its activities by launching Mutual Fund as issue and...

4 more land ports will be handed over to pvt sector

2009-11-17 00:00:00

FE ReportThe government will hand over four land ports to the private sector for development and facilitating trade with India.Akhaura, Tamabil, Bhomra and Burimari land ports handover process will be completed by June next year, Bangladesh Land Port Authority chairman...

TCB likely to be turned into a public limited co

2009-11-17 00:00:00

Trading Corporation of Bangladesh (TCB), the state-run lone trading arm, is likely to be turned into a public limited company paving the way of making it an active organisation, reports BSS.TCB sources told the news agency that a committee, formed...

Sea Resources, Danish co sign jt venture deal

2009-11-17 00:00:00

FE Report Sea Resources Limited and Danish fishing gear expert Cosmos Trawl (a part of the international Hampidjan Group), have signed an agreement to enter the third phase of their Danida-supported B2B project. After one year trial partnership, it will...

IPO Diary

2009-11-17 00:00:00

RN Spinning Mills LimitedNature of BusinessThe principal activities of the company are to carry on the business of Textile Spinning Mills to produce 100% synthetic yarn.Subscription OpenNovember 22, 2009Subscription CloseNovember 26, 2009For Non resident BangladeshiNovember 22, 2009 to December 05,...

US, China don't have to be rivals: Obama

2009-11-17 00:00:00

SHANGHAI, Nov 16 (CNN): The United States and China don't have to be at odds, despite the challenges facing them, US President Barack Obama told several hundred students at a town hall meeting Monday in Shanghai."Our relationship has not been...