NEW YORK, Sept 29 (AP): Citigroup Inc. will acquire the banking operations of Wachovia Corporation, one of the nation's largest banks, in a deal facilitated by the Federal Deposit Insurance Corporation.Citigroup will absorb up to $42 billion of losses in...
Access Telecom (BD) Limited (AccessTEL), a wireless broadband access (WBA) network and broadband service provider in Bangladesh, has signed an agreement with Qspan Technologies Limited to extend "Bank Branded" mobile banking services, said a press release.The Qspan solution will allow...
Qamrun Nahar has been reelected vice chairman of the Janata Insurance Company Limited.The board of directors of the company at its recently held meeting unanimously reelected her vice chairman, said a press release.Qamrun Nahar is also a director of United...
FE ReportElectricity tariff for the bulk consumers will go up by 16 per cent on an average from October 1, 2008.The Bangladesh Energy Regulatory Commission (BERC) Monday issued an order to this effect after completion of two and a half...
FE Report The central bank has made mandatory for all local and foreign commercial banks to disburse agriculture credit from this fiscal to ensure food security of the country. The Bangladesh Bank (BB) has also introduced a 'Revolving crop credit...
Bangladesh Telecommunication Regulatory Authority (BTRC) earned Tk 14.0 billion through the allocation of some additional frequency spectrum to three mobile phone operators -- Aktel, GrameenPhone and Bangla Link, reports UNB.Disclosing this at a press conference at Setu Bhaban in the...
Eid-ul-Fitr, one of the biggest religious festivals of the Muslims, may be celebrated in the country tomorrow (Wednesday), if the moon of the lunar month of Shawal is sighted today (Tuesday), reports UNB.The National Moon-sighting Committee will meet today to...
Endorsing government position against ex-Prime Minister Sheikh Hasina's prayer, the High Court (HC) denied Monday her bail in an extortion case filed by a businessman, putting her regular release in limbo, reports UNB.Though her counsel opted for filing appeal against...
Bangladesh Standard and Testing Institution (BSTI) will kick off a special anti-adulteration drive across the country to check the faking of food and other commodities that caused serious public health concern. The decision was taken at a meeting in the...
Shakhawat Hossain Finance and planning adviser Mirza Azizul Islam said Monday Islamic Development Bank (IDB) has agreed to finance modernisation of the country's aging lone oil refinery and a establishment of a 150 megawatt (MW) power plant.The positive response came...
Chief of Army Staff General Moeen U Ahmed expressed the hope Monday that a capable government, which would be elected through a free, fair election, would take decision on trial of war criminals, reports UNB."Let the upcoming election be held...
FE ReportThe exodus of city dwellers to celebrate Eid in their hometowns increased with officials and employees of government and private organisations attending their last day in office Monday.The public holiday starts from tomorrow (Tuesday) followed by the week-end.Severe traffic...
FE ReportThe Securities and Exchange Commission (SEC) is going to extend the September 30 deadline for renewing the existing beneficiary owners' (BO) account upto October 15 considering the long vacation due to Eid-ul Fitr and Durga Puja.As per the previous...
A government decision to deny subsidised urea fertiliser to tobacco farmers could result in chaos descending on the country's premier cash-crop tobacco, industry leaders say, reports bdnews24.com. "There could be larger repercussions on the industry as a whole and the...
Standard Chartered Bank CEO Osman Tarik Murad was granted bail Monday after he appeared before the Dhaka Chief Metropolitan Magistrate's court in an alleged car seizure case involving the bank, reports bdnews24.com. A warrant of arrest was issued against him...
FE Report The inter-bank call money rate remained steady Monday with injection of fresh cash into the market which witnessed huge withdrawal of fund by the retail consumers due to the ensuing Eid-ul-Fitr celebration.The central bank injected Tk 19.525 billion...
Government offices will remain open today (Tuesday), an official says, reports bdnews24.com. The government appeared undecided as offices closed Monday afternoon about whether Tuesday should be a workday prior to the Eid-ul-Fitr. "We haven't yet received any directive on declaring...
FE Report Anders Jensen, the chief of the country's leading cell phone operator Grameenphone (GP), mostly owned by the Norwegian Telenor, explained Monday the reason of decision to shorten his service tenure in Bangladesh."I am leaving a bit earlier than...
French Embassy here introduces biometry (by fingerprints) to deliver visas for Bangladeshi visa seekers from October 6, reports UNB.A release of the French Embassy Monday said this procedure already implemented around the world will help the bona fide visa holders...
Eid-ul-Fitr, the greatest religious festival of the Muslims, will be celebrated in the country tomorrow (Wednesday) or a day after, depending on the sighting of the moon. It comes after a month-long period of fasting which is meant to be...
Enayet RasulThe Bangladesh Bank (BB) has directed all commercial banks in the country to distribute agricultural loans. This has been made a mandatory requirement. Each such bank under the new regulation would have its own targeted sum to be distributed...
Mahmudul IslamThe common people in Dhaka city remain hard-pressed singularly for the rise in the costs of their living . The price rises have been relentless in recent months. In this situation of stress in their purchasing power, an additional...
What will happen of the Dhaka city during the Eid shopping spree in the next year? This year, the city has almost been at a standstill whatever the time it was, day or night. We all knew it was certain....
THE DCC is responsible for collecting rubbish, on a regular basis, from the storing bins to the dumping sites. For this purpose it maintains squads of cleaners and vehicles. But this work is not done properly. The reality is, the...
S M JahangirThe Bangladesh Energy Regulatory Commission (BERC) is considering amendments to its existing regulations to help cut licence fees on use of captive and stand-by generators by industrial operators, as sought by the country's major trade bodies.'We'll have to...
Shakhawat Hossain The central bank of Bangladesh has assured the Chief Adviser that it has sufficient tools to tackle the higher liquidity pressure arising out of falling import payments, coupled with higher exports and flow of remittance, a top official...
FE ReportFormation of special economic zones (SEZs) will pave the way for more productive use of land, labour, capital and infrastructure leading to greater investment, economic growth and social development in the country, experts said on Sunday.They agreed that SEZ...
Kayes M SohelThe Dhaka Stock Exchange (DSE) is set to revamp its automated trading system in line with its plan to expand capacity. The country's prime bourse has already undertaken a project to be implemented in phases to upgrade the...
FE Report Opening of letters of credit (LCs) for imports increased by 21.15 per cent during the first 18 days of September against the corresponding period of the previous year, officials said. "The import of food grains including rice and...
The BNP-led four-party alliance at a meeting Sunday advanced a five-point demand, including scrapping of amendments to the Representation of People's Ordinance (RPO) and lifting of emergency for holding a free and fair election, reports UNB.Three other demands are :...
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