FE ReportThe government borrowed Tk 5.0 billion (500 crore) Sunday through auctions of treasury bills. It will result in withdrawal of Tk 5.0 billion from the market in the week.The central bank conducted auctions of 91-day and 182y bills on...
CBC opened its new branch in Mirpur area at Parbata Plaza, 203 Senpara Parbata, Begum Rokeya Sharani.The ceremonial opening was presided over by the MD of CBC AL Gooneratne and the High Commissioner of Sri Lanka in Bangladesh V Krishnamoorthy.The...
Dhaka Chamber of Commerce and Industry (DCCI), Junior Chamber International Bangladesh (JCIB) and Bangladesh Institute of ICT in Development (BIID) signed an MoU on strategic partnership Saturday.The objective of the deal is to facilitate the Micro, Small and Medium Enterprises...
A workshop on 'Simplification of foreign exchange accounting' organised by International Banking Wing of Islami Bank Bangladesh Limited (IBBL) was held recently at the bank's head office in the city. IBBL Managing Director M Fariduddin Ahmad was present at the...
FE Report The inter-bank call money rate remained steady Sunday despite withdrawal of cash, as the market enjoyed excess liquidity. The US dollar, however, weakened against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate trading, fund...
LONDON, April 26 (AFP): The economic downturn has wiped billions off the fortunes of some of the richest people in Britain including Lakshmi Mittal and Roman Abramovich, according to a respected survey out today. The annual Sunday Times Rich List,...
Our CorrespondentKHULNA, Apr 26: Prawn export has remained suspended to the European Union for last one month. EU threatened to stop the import of Bangladeshi prawn due to presence of nitro furan virus in exported frozen prawn. Fisheries Department arranged...
Siddique Islam Seventeen banks have slashed interest rates on deposits and three have cut lending rates, as they moved to comply with central bank order to trim down cost of fund for key sectors, officials said Sunday. The move would...
Prime Minister Sheikh Hasina Sunday directed the power division and the WASA to play an effective role in reducing sufferings of the people due to the ongoing water and power crises, reports BSS.The Prime Minister gave the directive at a...
Jasim Uddin HaroonManufacturing companies that produce power in their plants have come up with a proposal to supply 200-megawatt excess electricity to national grid but found the state-owned distribution firms reluctant to heed their call.As the power crisis worsened, the...
FE Report Professor Atiur Rahman, a development researcher, is set to become Governor of the Bangladesh Bank, sources said Sunday. The government is going to issue a gazette notification today, confirmed a finance ministry official Sunday evening.Dr Atiur returned from...
The government will buy boiled rice at Tk 22, non-boiled Tk 21 and paddy Tk 14 a kilogramme, the food minister said Sunday, reports bdnews24.com. A drive to purchase about 1.2 million (12 lakh) tonnes of rice and paddy will...
Operation of the state-owned Chittagong Urea Fertiliser Factory Ltd (CUFL) was shut down Sunday to divert its gas supply to power plants in the region to tackle the present electricity shortage, reports UNB.CUFL Managing Director M Abdus Salam said the...
FE ReportFinance Minister AMA Muhith assured Sunday the country's businesses of creating a special fund in the next budget for supporting the sectors hit by ongoing global recession."A special fund, whatever its name is, will be created in the next...
M Azizur RahmanThe foreign firms selected for exploration in nine offshore hydrocarbon blocks in the country's latest bidding round have again sought the government's position over awarding the blocks to the successful bidders, officials said Sunday.Both the firms -US based...
The country's 52.49 per cent people aged seven years and above are illiterate, according to the Bangladesh Bureau of Statistics (BBS) report-2008. On the other hand, 55.77 per cent males and 49.11 per cent females aged seven years and above...
Three Bangladeshi lecturers of the King Khaled University were killed and two others injured in a tragic road accident at Doadmi, 328 km northwest of Riyadh, last Friday. A relative of one of the victims said lecturers Sakil Ahmed Sohel...
Sheikh Shahariar ZamanEmbroiled in compensation disputes, Bangladesh Export Processing Zones Authority (BEPZA) is yet to hammer out a way to handover the 60-acre of land of Karnaphuli Export Processing Zone (KEPZ) to the food ministry.The BEPZA board of governors led...
FE ReportBRAC Bank Ltd, one of the leading private commercial banks (PCB) of the country is now set to become 'The Bank of the Bangladeshis', through its expansion across the country."Equipped with all modern banking facilities, the bank is expanding...
The International Monetary Fund is considering selling bonds to several developing countries to raise money to combat the global economic slump, reports Bloomberg.China and Brazil are among a handful of nations that have expressed interest in purchasing the securities, which...
FE Report The interest rate on treasury bills (T-bills) dropped further Sunday, as commercial banks, having excess liquidity, rushed to offer bids in the auction, treasury officials said.The yield, generally known as interest rate, on 91-day T-bill fell to the...
From Fazle Rashid NEW YORK, April 26: One positive aspect of the global economic meltdown is the unanimity among nations about preventing flight of capital to places called "tax havens". The affected nations are pressing states that encourage "secrecy in...
FE Report The Small and Medium Enterprise Foundation (SMEF) plans to set up a co-located cluster industrial park for some selected sub sectors like light engineering, electrical machinery and plastic. The SMEF recently signed a Memorandum of Understanding (MoU) with...
A Z M AnasBiman will lease four Boeing planes including B-777 as it finally readies a plan to retire the aging, fuel-guzzling DC-10 aircraft, officials said Sunday.The national flag carrier, which returned to "surprise" profits in 2008 fiscal, has 13...
FE Report World Bank (WB) Group President Robert B. Zoellick Saturday launched two multi-billion infrastructure investment initiatives to help developing countries withstand the global financial and economic crisis.The WB's Infrastructure Recovery and Assets (INFRA) platform and the Infrastructure Crisis Facility...
WASHINGTON, April 26 (AFP): A veteran diplomat most recently tasked with the delicate job of Sri Lanka envoy was tapped Friday by President Barack Obama to serve as the assistant secretary of state for South Asian Affairs.If approved by the...
SINGAPORE, Apr 25 (AP): The slump in Singapore's manufacturing accelerated in March as the global collapse in demand for exports continued to batter the tiny Southeast Asian city-state.Industrial production fell 34 per cent from a year earlier and dropped a...
FE Report Speakers demanded immediate measures to enact law for protection and security of the country's domestic workers.The speakers made their demands at a press conference organised by the Domestic Workers' Rights Network at the Dhaka Reporters' Unity auditorium in...
BEIJING, Apr 25 (AFP): China's gold reserves rose 75 per cent from 2003 to 2008, state media said, reporting that Beijing now had the world's fifth largest holdings of the precious metal. China had 1,054 tonnes of gold by the...
Mushir AhmedA local company has struck a joint venture deal with an expatriate Bangladeshi to set up the country's first solar panel plant to provide a backbone for the fast-growing renewable energy sector. Star Group, a power plant engineering company,...
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