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Indian stocks fall, erasing earlier gains, Reliance declines

2009-09-02 00:00:00

MUMBAY, Sept. 1 (Bloomberg): India's benchmark stock index fell for a second day, erasing earlier gains today, led by Reliance Industries Ltd.Reliance, India's most valuable company, lost 1.7 per cent to 1,970.35 rupees. HDFC Bank Ltd., the third-biggest lender, fell...

Brazil's top sugar region may miss output forecast

2009-09-02 00:00:00

NEW DELHI, Sept. 1 (Bloomberg) -- Sugar output from Brazil's Center South, the world's biggest producing region, may be less than estimated earlier this year because of heavy rainfall, adding to signs of a global shortfall.Production may be less than...

Pakistan raises local gasoline prices on higher crude rates

2009-09-02 00:00:00

ISLAMABAD, Sept. 1 (Bloomberg): Pakistan increased domestic fuel prices from today, according to a statement by the regulator, which didn't cite a reason.The government raised gasoline prices by 4.80 rupees (5 cents) a liter to 65.13, while the cost of...

India's Maruti Suzuki posts record exports

2009-09-02 00:00:00

MUMBAI, Sept 1 (AFP): India's largest carmaker Maruti Suzuki India, majority-owned by Japan's Suzuki Motor, today announced record exports in August, led by strong demand across European markets. Maruti's exports nearly tripled to 14,847 vehicles during the month, from 5,795...

WTO allows Brazil to retaliate in US cotton dispute

2009-09-02 00:00:00

GENEVA, Sept 1 (AFP): The World Trade Organisation yesterday authorised Brazil to impose massive retaliatory sanctions against the United States in a dispute over US cotton subsidies. The level of sanctions is expected to reach 800 million dollars (557 million...

Sugar, pulses areas of concern as Indian districts hit by drought

2009-09-02 00:00:00

NEW DELHI, Sept 1 (PTI): The Indian government yesterday said that prices of sugar and pulses are "major areas of concern", while declaring that 278 districts in 11 states are hit by drought. While exuding confidence that spiralling prices of...

Oil prices bounce back above 70 dollars

2009-09-02 00:00:00

LONDON, Sept 1 (AFP): Oil prices rebounded slightly today, a day after tumbling on fears crude demand growth could weaken in China, the world's second biggest oil consuming nation after the United States, traders said. New York's main contract, light...

Dollar higher in Asia ahead of US factory data

2009-09-02 00:00:00

TOKYO, Sept 1 (AFP): The dollar was higher against the yen in Asia today as traders anticipated upbeat results from a survey of the giant US manufacturing sector due later in the day. But the greenback lost ground against the...

India chamber seeks tax benefits on medical textiles export

2009-09-02 00:00:00

NEW DELHI, Sept 1 (PTI) Indian government should cover the entire chain of manufacturing medical textile for exports under tax benefits for promoting a promising area of growth in the global market, industry body Federation of Indian Chambers of Commerce...

Corn declines as crop condition ratings may boost US harvest

2009-09-02 00:00:00

NEW YORK, Sept. 1 (Bloomberg): Corn slumped after a US Department of Agriculture crop condition report increased speculation that this year's harvest may be larger than forecast. Wheat also fell.About 69 per cent of the US corn crop was in...

Renewable energy market to grow 25 per cent annually

2009-09-02 00:00:00

DUBAI, Sept 1 (PTI): The alternative energy sector is expected to grow 25 per cent annually and would account for almost 70 per cent of the global energy market by 2030, organisers of an alternative energy convention has said. The...

Commodity Prices

2009-09-02 00:00:00

COMMODITYMONTHLASTWTI Light CrudeOct '0969.8500Brent CrudeOct '0969.7800RBOB GasolineOct '091.8099yHeating OilOct '091.8085yNat Gas (NBP)Oct '0926.1000SoybeansSep '091106'6Robusta CoffeeSep '091395.00Cocoa #7 (₤)Sep '091820.00Sugar #11Oct '0924.57WheatSep '09467'2CornSep '09326'2sCottonOct '0957.43Palm Oil ($)Sep '09692.750yECX CarbonDec '0914.7900

Poor supply of banderole hits beverage business

2009-09-02 00:00:00

Jasim Uddin Haroon The country's leading beverage and toiletries manufacturers said Monday poor supply of banderole by the government is affecting their business despite high demand for products during the month of Ramadan. Banderole are used on the bottles of...

Apex mega shop opens at Bashundhara

2009-09-02 00:00:00

FE ReportA premium outlet of Gallerie Apex was inaugurated Tuesday at level seven of Bashundhara City Shopping Complex.Apex Group chairman Syed Manzur Elahi inaugurated the new branch, where a total of 250 newly designed shoes were showcased including 70 for...

BTA signs bi-lateral deal with BCSU

2009-09-02 00:00:00

A bi-lateral agreement has recently been signed between Bangladesh Tea Association (BTA)- Bangladeshiyo Cha Sangsad (BCS), only the representative body of tea estates in Bangladesh, and Bangladesh Cha Sramik Union (BCSU) in Chittagong, said a press release. BTA Chairman M...

Mercantile Bank, Data Edge sign deal

2009-09-02 00:00:00

Mercantile Bank Limited has signed an agreement with Data Edge Limited for implementation of BACH (Bangladesh Automated Clearing House) programme, said a press release. Under the deal, Data Edge will supply and install MICR (Magnetic Ink Character Recognition) cheque processing...

First Bangladeshi CEO of KAFCO

2009-09-02 00:00:00

Mr. Salahuddin Ahmad has been appointed as the new Chief Executive Officer (CEO) of Karnaphuli Fertilizer Company Ltd (KAFCO) and its subsidiary KAFCO International Co. Ltd. with effect from Tuesday.He takes over as the first Bangladeshi Chief Executive of KAFCO.He...

Investors'awareness programme

2009-09-02 00:00:00

FE ReportMerchant banking division of Prime Bank arranged a programme in the city Monday with a vision of augmenting awareness about securities market among its clients or investors.

DFID partners with NBR to bring ‘sea change’ in taxpayers' service

2009-09-02 00:00:00

A Z M AnasThe National Board of Revenue (NBR) has taken up a programme to make its services "friendlier" to taxpayers as it steps in to polish its image bruised by clients' complaints and corruption, officials said Sunday.Under the five-year...

Aktel donates ceiling fans, mats to mosques

2009-09-02 00:00:00

FE ReportAs a part of its corporate social responsibility (CSR), Aktel, a leading cell phone operator in the country, has donated floor mats and ceiling fans to a number of mosques located in Chittagong, Netrokona, Muktagachha, Rajshahi and Dhaka. Aktel...

UCBL holds Iftar party

2009-09-02 00:00:00

FE ReportUnited Commercial Bank Ltd (UCBL) organised an Iftar party recently at a city hotel to welcome its newly recruited management trainees and officers. UCBL Managing Director M Shahjahan Bhuiyan delivered the welcome speech at the Iftar party.In his speech,...

SkyEurope shares suspended after bankruptcy

2009-09-02 00:00:00

VIENNA, Sept 1 (AFP): Shares in low-cost carrier SkyEurope were suspended from trading on the Vienna stock exchange Tuesday after the troubled airline filed for bankruptcy overnight.Trading was suspended "until further notice" from the opening bell Tuesday, the stock exchange...

Asian markets rebound

2009-09-02 00:00:00

HONG KONG, Sept 1 (AFP): Investors picked up bargains Tuesday, lifting Asian shares a day after heavy selling was triggered by fears of tighter liquidity in the Chinese economy that could stymie regional recovery. China lifted 0.60 per cent after...

IPO Diary

2009-09-02 00:00:00

The Dacca DyeingNature of BusinessThe main business of the company is weaving , dyeing, finishing and printing facilities producing high quality of bed sheet, table cloth, shirting fabrics etc.etc.Subscription OpenAugust 30, 2009Subscription CloseSeptember 03 , 2009For Non resident BangladeshiAugust 30,...

US, allies must change strategy to win Afghan war

2009-09-02 00:00:00

KABUL/WASHINGTON, Sept 1 (Reuters): The United States and its allies must change strategy and boost cooperation to turn around the war in Afghanistan, the top U.S. and NATO commander there said Monday, wrapping up a much-anticipated review.US Army General Stanley...

Sri Lanka slammed for jailing journo

2009-09-02 00:00:00

COLOMBO, Sept 1 (AFP): Sri Lanka faced a barrage of condemnation Tuesday for the jailing of a journalist whose sentencing drew criticism from the US and warnings about censorship from press freedom groups.New York-based Human Rights Watch urged Sri Lankan...

Iranian president plans to address UNGA meeting

2009-09-02 00:00:00

TEHRAN, Sept 1 (Reuters): Iranian President Mahmoud Ahmadinejad plans to address this month's UN General Assembly meeting, an aide said Tuesday, in what would be his first trip to the West since his disputed re-election in June.Ahmadinejad's attendance of the...

Restrictions on Pak nuclear scientist lifted

2009-09-02 00:00:00

ISLAMABAD, Sept 1 (AFP): Disgraced Pakistani nuclear scientist Abdul Qadeer Khan, who has admitted leaking nuclear secrets to Iran, North Korea and Libya, said Tuesday restrictions on his freedom of movement had been lifted.In February, a Pakistani court declared Khan...

Myanmar promises border stability, China says

2009-09-02 00:00:00

NANSAN, Sept 1 (AP): Myanmar has pledged to restore peace to a border area where its troops battled ethnic rebels, in fighting that sent more than 30,000 refugees fleeing into China, Beijing said Tuesday.The comments by China's Foreign Ministry came...

news digest

2009-09-02 00:00:00

Fresh clashes in Swat valley kill dozens MINGORA, Sept 1 : Pakistani troops killed 15 militants in fresh clashes in Swat, the army said Tuesday, taking the death toll to 45 in five days after a lull in the campaign...