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Govt to reopen 13 closed jute mills in two years: Minister

2009-08-20 00:00:00

FE ReportThe government will reopen 13 closed jute mills within the next two years in a bid to rejuvenate the ailing sector, Textiles and Jute Minister Abdul Latif Siddiqui said Wednesday."Thirteen more closed jute mills will be reopened in the...

Shops being served notices for not installing ECRs

2009-08-20 00:00:00

FE ReportThe National Board of Revenue (NBR) has started serving show cause notices upon the big and medium shops for non-compliance of government's order on mandatory installation of electronic cash register (ECR).The move came after the board has found only...

Extortion: Effective remedy should follow diagnosis

2009-08-19 00:00:00

Shamsul Huq Zahid If corruption is systemic, extortion is endemic in Bangladesh. Both the vices are committed visibly and also invisibly and almost with total impunity. The national attention was focused on the issue of corruption indulged in by politicians...

Draft policy sets minimum $1.0b investment for private refinery

2009-08-19 00:00:00

Nazmul AhsanThe government would allow private petroleum refineries in the country only after a company invests a minimum $1.0 billion dollar on at least a 60-acre facility that maintains all global standards.The pre-requisites were set in the latest draft of...

Amended PRSP-II for '09-'11 to be finalised by Aug 31

2009-08-19 00:00:00

Doulot Akter MalaThe government has decided to finalise the amended PRSP-II for 2009-2011 within this month incorporating new strategies to limp out from global recession that would reflect contemporary issues and financial plans of the present government.The decision was taken...

High profile meet on 6th five-year plan today

2009-08-19 00:00:00

FE Report A high profile meeting of the government to formulate the "sixth five-year plan" will be held today (Wednesday) for introducing a fresh guideline for the country's development plans and policy, officials said Wednesday.The meeting will be presided over...

Muhith hints at abolition of PSI system

2009-08-19 00:00:00

Our CorrespondentCHITTAGONG, Aug 18: Finance Minister AMA Muhith said today the government is attaching more importance to keeping the market economy undisturbed, rather than earning only revenue. He said that the country would lose, if the luxurious cars are not...

ECNEC approves Tungipara-Kotalipara Road project

2009-08-19 00:00:00

The Executive Committee of the National Economic Council (ECNEC) Tuesday approved a lone project for development of the Tungipara-Kotalipara (Majhbari) Road involving about Tk 610 million from government exchequer. The approval of the project came from an ECNEC meeting in...

28th BCS written exam results by month-end

2009-08-19 00:00:00

The results of the 28th BCS written examination will be published by the end of this month, Public Service Commission (PSC) Chairman Sadat Hossain said. The results of the 29th BCS preliminary examination will also come out by the end...

BUET raises 80 seats for new intakes

2009-08-19 00:00:00

Bangladesh University of Engineering and Technology (BUET) has increased its intake capacity by 80 seats to 965 for the first-year academic session 2009-10 as application submission for the admission begins on August 23, official sources said. — UNB

Dhaka drags feet over renewing labour export deal with Seoul

2009-08-19 00:00:00

A Z M AnasBangladesh's delay in renewing a key labour export deal with the Asian industrial dynamo South Korea has dissuaded the country from capitalising on the low-cost foreign job offers, people familiar with the situation say.Officials at the Overseas...

Tigers make it 4-1

2009-08-19 00:00:00

Bangladesh rode on Musfiqur Rahim's brilliant half-century to post a five-wicket victory over Zimbabwe in the fifth and final match of the GrameenPhone Cup at the Queen Sports Club in Bulawayo Tuesday, reports bdnews24.com.Mushfiq, who was promoted up the order,...

Illegal florists evicted from Shahbagh

2009-08-19 00:00:00

FE ReportDhaka City Corporation conducted an eviction drive Tuesday morning and demolished dozens of makeshift flower shops at Shahbagh in the city, police said.The DCC team of officials and law enforcers, led by a magistrate, conducted the drive to evict...

Normalcy returns to industrial hub at Ashulia

2009-08-19 00:00:00

FE ReportNormalcy returned in the industrial hub at Ashulia after two days of unrest, as most of the factories resumed their production Tuesday amid additional security measures, police said.Sources of Bangladesh Garment Manufactures and Exporters Association (BGMEA) said some 60...

DSE ends lacklustre trading as top cos return to black

2009-08-19 00:00:00

FE ReportDhaka stocks ended a lacklustre trading for the last four consecutive sessions Tuesday as banks and non-banking financial institutions returned to winning streak and energy issues made significant gains.The benchmark Dhaka Stock Exchange General Index (DGEN) finished at 3039.64,...

Angry UCB shareholders demand settlement of AGM-related cases

2009-08-19 00:00:00

FE ReportAngry shareholders of the United Commercial Bank (UCB) Ltd Tuesday staged a sit-in at the bank's head office demanding settlement of AGM related cases.The sit-in which began at 3:00pm was called off at 8:30pm following assurance from the Managing...

Readers Digest going bankrupt!

2009-08-19 00:00:00

From Fazle Rashid NEW YORK, Aug 18: The US Justice Department, in what is being called the largest case of computer crime and identity theft, has indicted Albert Gonzales and two other unnamed Russian conspirators of having indulged in fraud...

Growing slums and traffic jams of Dhaka: Solution lies in national technological ability

2009-08-19 00:00:00

Mustafizur RahmanIt is already too late. Further delay will make efforts more expensive or even impossible, but wrong quick starts may also be fatal to national interest. Things are growing too complex to get over with a few loan-driven projects,...

The terrible traffic jams

2009-08-19 00:00:00

Abrar AhmedASHRAF Khan, a student of Dhaka University, has to spend three hours on the way to reach the campus from his residence at Uttara.But it took him only 25 minutes from his residence, midnight one night, he recalls.A look...

Afghan election: more than electing a president

2009-08-19 00:00:00

The second presidential election in the history of Afghanistan is scheduled to take place tomorrow (Thursday). As many as 41 candidates, two of them women, will be on the ballot. Among the 41 candidates, only three are serious contestants. They...

Time to rethink trade defence mechanisms

2009-08-19 00:00:00

Pradeep S MehtaIt is high time the WTO used its whip, instead of whistle, against unfair use of trade defence measures before the onslaught of protectionism escalates into full-fledged trade wars.In the face of the enduring economic crisis, virtually every...

Bangladesh exporters perform relatively better in Asia

2009-08-19 00:00:00

Shakhawat HossainGOODS worth $14.14 billion were shipped out of the country between July 2008 and May 2009, compared to $12.63 billion during the same period of last year, according to official data.China, India, Pakistan, Malaysia, Vietnam and Thailand were struggling...

Taking care of the image problem

2009-08-19 00:00:00

WE are always reminded that Bangladesh is one of the poorest countries of the world. But other credible statistics defy this description. For example, on the list of the countries of the world sorted by their gross domestic product (GDP),...

Please help them

2009-08-19 00:00:00

THE results of the Secondary School Certificate (SSC) examinations have recently been published. This year also, like the previous years, a good number of the poor boys and girls have proved their extraordinary talent. Despite being deprived of material and...

JS panel preference on Asian Highways

2009-08-19 00:00:00

IT is not a matter of preference at all. It is a reality that the Asian Highways will enter into Bangladesh from India, crossing the western border of our country with India. I think it is also not a matter...

Indian stocks rise as monsoon concern eases

2009-08-19 00:00:00

MUMBAI, Aug. 18 (Bloomberg): India's benchmark Sensitive Index rose, snapping a two-day 4.7 per cent drop. led by consumer companies after the government said a revival in monsoon rains is helping ease dry weather that's caused widespread drought.ITC Ltd., India's...

KSE falls 78 points on below expectation rate cut

2009-08-19 00:00:00

KARACHI, Aug 18: The benchmark KSE 100 Index closed in the red zone with decrease of 78.76 points and closed at 7,932.55 levels. Intense selling was witnessed as investors reacted on limited easing in discount rate by 100bps in monetary...

Policy of industrialisation opens up new opportunities for Vietnam

2009-08-19 00:00:00

The policy of openness and industrialisation has opened up new opportunities for Vietnam to make full use of its inherent comparative advantages. These advantage are vast natural resources, abundant workforce and low labour cost, says a press release issued by...

Central Insurance holds half-yearly managers' confce

2009-08-19 00:00:00

FE Report The half yearly branch managers' conference-2009 of the Central Insurance Company Limited (CICL) was held at the Novo Convention Centre in the city recently. The conference discussed the activities of the company in the last year with a...

Gold rebounds as dollar declines

2009-08-19 00:00:00

LONDON, Aug. 18 (Bloomberg): Gold rebounded as the dollar declined and after the biggest drop this month boosted the metal's appeal as an alternative investment.Bullion, which typically moves inversely to the dollar, snapped a two-day decline as the Dollar Index,...