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Pouring in of all bad news

2008-12-29 00:00:00

Fazle Rashid from New YorkTHE global economic downhill slide will linger well beyond 2009, the analysts and market watchers are predicting. The economies of the major global powers like the US, China, Japan, European Union (EU), most of Asia and...

Why threaten neighbours without rhyme or reason?

2008-12-29 00:00:00

WHAT is India up to? Her Prime minister and various rabidly fundamentalist leaders threaten her neighbours without rhyme or reason and ask us to behave or else. After the Mumbai attacks her ire towards Pakistan was understandable but Bangladesh? Remember...

Save the Buriganga

2008-12-29 00:00:00

The famous Buriganga river that once helped the environment of Dhaka city and its aesthetic appeals, is now a pathetic apology of its former glory. It is nothing more than a drain in some of its sections as dumping of...

'No vote'

2008-12-29 00:00:00

I talked to many people living in the rural area about 'no vote', but they could hardly say anything about it. Actually the rural people know little about the 'no vote' option. The educated people will have to inform them...

Manifesto of a voter

2008-12-29 00:00:00

Air Commodore Muhammad Zakiul IslamA manifesto of a voter is sought here to be put out, now that the much talked-about much talked-about general election takes place today (Monday, December 29). The political parties had earlier announced their respective election...

Creation of digital Bangladesh

2008-12-29 00:00:00

Prof. Lutfor RahmanTHE Chief of Bangladesh Awami League (AL), Sheikh Hasina has recently expressed her willingness of establishing "Digital Bangladesh". From a scientific point of view, it can be analysed as she wants to equip the country with relevant and...

An open letter to the first time voters

2008-12-29 00:00:00

Syed Munir Khasru Dear first time voters,Congratulations on your successful registration as a voter of Bangladesh. With this registration, you have embarked on a very important role of your life whereby from now on you have a direct role to...

Bangladesh elections in the context of global economic meltdown

2008-12-29 00:00:00

Fazle Rashid in New YorkBANGLADESH goes to polls on Monday to revert to a democratic order after remaining under a government for over 23 months which neither had the mandate of the people nor any constitutional legality to govern. The...

America's corporate tax policy is in need of reform

2008-12-29 00:00:00

Frederick SmithIt is unfortunate that the US, which has led the capitalist world for so long, is woefully uncompetitive in corporate tax policy. We have the second highest corporate tax rate among Organisation for Economic Co-operation and Development (OECD) countries...

Huge public schemes will help Gulf economies amid crunch

2008-12-29 00:00:00

DUBAI, Dec 28 (AFP): Major air and rail projects are among huge public sector schemes going full steam ahead in Gulf countries, underpinning local economies as the credit crunch takes a big toll on private businesses. Power and water infrastructure...

India's services sector will prop growth rate

2008-12-29 00:00:00

NEW DELHI, Dec 28 (PTI): Despite the global economic slowdown, some segments of India's services sector, including IT, education and organised retail, retained "high" growth rate of 10-20 per cent this fiscal, an industry lobby survey said here Sunday. The...

Britain will meet financial fight next year

2008-12-29 00:00:00

LONDON, Dec 28 (AFP): Prime Minister Gordon Brown is to say in his new year message that Britain will stand up to the economic challenges thrown its way in 2009, media reported today. Using language close to US president-elect Barack...

Russian inflation could reach 15pc in 2009

2008-12-29 00:00:00

MOSCOW, Dec 28 (AFP): Inflation in Russia could climb as high as 15 per cent in 2009 depending on oil price levels, Russian Finance Minister Alexei Kudrin told Vesti-24 television yesterday. "This year (2008), inflation could reach between 13.5 and...

Indonesia, NZ to restart FTA talks next March

2008-12-29 00:00:00

JAKARTA, Dec 28 (Xinhua): Indonesia and New Zealand are likely to resume their talks on free trade agreement (FTA) in March 2009, said an Indonesian official yesterday. "We hope that the negotiation could be resumed soon after the signing of...

Chinese dairies to compensate melamine victims

2008-12-29 00:00:00

BEIJING, Dec 28 (AP): Chinese dairy companies that sold melamine-tainted milk are ready to pay compensation to the families of the nearly 300,000 children who became ill or died from drinking contaminated infant formula, a state news agency reported Saturday.Twenty-two...

Taiwan home-grown food firms get boost after China scandal

2008-12-29 00:00:00

HSINPU, Taiwan, Dec 28 (AFP): Scandals surrounding poisoned Chinese foods have taken a heavy toll on Taiwan's bakeries and makers of dairy products in recent months, but could provide a long-term boost for local food makers. Liu Li-chien, who produces...

China to produce 189m tonnes of crude oil this year

2008-12-29 00:00:00

BEIJING, Dec 28 (Xinhua): China is forecast to produce 189 million tonnes of crude oil in 2008, a growth of 1.61 per cent over the 186 million tonnes last year, according to a recent report released by the nation's leading...

Samata Leather incurs Tk 15.969m loss in last FY

2008-12-29 00:00:00

The 18th annual general meeting (AGM) of Samata Leather Complex Ltd. was held on the factory premises at Hazaribagh in the city recently.Chairman of the company Md Munsur Ahmed presided over the meeting.Managing Director Md Habibur Rahman, directors Md Shajahan,...

Japan steel-makers expecting 12pc drop in profits

2008-12-29 00:00:00

TOKYO, Dec 28 (AFP): Japan's two biggest steelmakers will likely downgrade earnings for the year to March 2009 and announce a 12-per cent drop in profits, a leading Japanese business newspaper said today. Nippon Steel in October said it expected...

Ecuador cuts Agip's oil production for OPEC quota

2008-12-29 00:00:00

QUITO, Dec 27 (AFP): President Rafael Correa said Saturday he ordered Italy's Agip Oil company to halt production so Ecuador can meet OPEC's agreed output cut for the country of 40,000 barrels a day. "I have instructed the oil and...

Export growth of woven declines

2008-12-29 00:00:00

Jasim Uddin Haroon The country's apparel sector, especially woven sub-sector, suffered to some extent in November this year as there were fewer imports of fabrics than export orders due to the ongoing financial crisis. Such fabric imports are carried out...

MTB opens 36th branch at Tongi

2008-12-29 00:00:00

FE Report Mutual Trust Bank Limited (MTB) opened its 36th branch at Tongi recently, said a press release.Founder Chairman of MTB Syed Manzur Elahi formally inaugurated the branch. Director Abdur Rouf attended the inaugural ceremony as the special guest.Managing Director...

Call rate steady, dollar stable

2008-12-29 00:00:00

FE Report The inter-bank call money rate remained steady Sunday despite withdrawal of cash through treasury bills. The US dollar also maintained stable nerve against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate demand for the...

Prime Bank launches 'prepaid card'

2008-12-29 00:00:00

Prime Bank launched 'Prepaid Card' for Dhaka Club members recently allowing the holders to pay their bills through it.Prime Bank's Head of Retail Banking Adil Raihan and executive committee member of Dhaka Club Nazim Shafkat Choudhury signed an agreement to...

Wahidur Rahman new LGED Chief Engineer

2008-12-29 00:00:00

Mr. Md. Wahidur Rahman, Additional Chief Engineer assumed the charge of Chief Engineer of Local Government Engineering Department (LGED) Sunday.Mr Wahid succeeds Mr. Md. Nurul Islam, former Chief Engineer, LGED who went on LPR with effect from today (Monday).Wahidur Rahman...

Usmania Glass approves 60pc cash dividend

2008-12-29 00:00:00

Our Correspondent CHITTAGONG, Dec 28: Usmania Glass Sheet Factory Limited (UGSF) approved 60 per cent cash dividend for its shareholders for the year 2007-2008. The approval came at the 22nd annual general meeting (AGM) of the company held at its...

BURO Bangladesh gets ICAB National Award-2007

2008-12-29 00:00:00

FE Report The Institute of Chartered Accountants of Bangladesh (ICAB) has awarded BURO Bangladesh for the Best Presented Accounts of 2007 in NGO category on the basis of evaluation of BURO's Audited Annual Report for the year 2007. The Executive...

IOE launches three new ECR machines

2008-12-29 00:00:00

FE ReportInternational Office Equipment (IOE), one of the leading suppliers of Electronic Cash Register (ECR) machines in Bangladesh, has launched three new models of ECR, manufactured by the world's leading producer ACLAS. All the machines are fully complied with the...

Govt borrows Tk 5.0b thru' auctions of treasury bills

2008-12-29 00:00:00

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 364-day bills on...

IBBL holds board meet

2008-12-29 00:00:00

The board of directors meeting of the Islami Bank Bangladesh Limited (IBBL) was held in the city recently.Chairman of the board of directors of the bank Prof Abu Nasser Muhammad Abduz Zaher presided over the meeting, said a press release....