Zaidi SattarIn the past week, stock markets around the world have been roiled by a massive crisis of confidence. New York's Dow Jones Industrials fell 17 per cent for the week, its sharpest weekly decline since 1987. Other leading indexes...
Siddique Islam A code of conduct for operation of Dhaka Interbank Offered Rate (DIBOR), a benchmark, is being formulated for daily transaction in the country's money market.A three-member sub-committee of the Bangladesh Foreign Exchange Dealers' Association (BAFEDA) is now working...
FE ReportNobel laureate and Grameen Bank chief Professor Muhammad Yunus has said greed has destroyed the world's financial system and market mechanism rather the governments should be used to fix the crisis."Today's capitalism has degenerated into a casino. The financial...
From Fazle RashidNEW YORK, Oct 11: Driven by panic and alarm the finance ministers and the central bank governors from world's seven richest countries after trying a variety of options finally settled to mounting urgent and exceptional' coordinated actions in...
The government dialogue with BNP has been set for October 14, by bringing it one day forward, the Chief Adviser's press secretary said Saturday, reports bdnews24.com. "The government will hold talks with BNP on the morning, and will sit with...
The Awami League (AL) central working committee (CWC) has decided to maintain all the associate organisations and overseas units of the party, reports bdnews24.com. The CWC also demanded scrapping of two clauses of the Election Commission Act, giving the EC...
The National Board of Revenue (NBR) is now engaged in a game of wits with traditional tax dodgers and preparing plans to catch those evading taxes for long, reports UNB."We're now engaged in a game of wits with the tax...
A homemade bomb exploded and another was found unexploded on the lawn of High Court (HC) Judge Sharif Uddin Chaklader's residence at the Judges' Complex in the city's Kakrail area Saturday afternoon. Officer-in-Charge (OC) of the Ramna police station Daulat...
In a latest reshuffle in the administration in the interim period, the government has transferred three army officers, one of them as ambassador. An official notification Saturday said Brig General ATM Amin of Bangladesh Army has been appointed DG of...
Eva Luise Kohler, wife of German President Horst Kohler and patroness of German National Committee for UNICEF, arrives in the city tomorrow (Monday) on a 5-day visit to Bangladesh to see the situation of children, women and families. She will...
FE ReportThe insurance industry is sceptical about any positive impact of the new insurance law while keeping the Insurance Corporations Act 1973 in place. "We do not still exactly know how the law looks like, but we have heard that...
Shakhawat Hossain Falling oil prices in the global market and higher revenue generation at home might help the government cut budget deficit below 4.5 per cent of the gross domestic product (GDP) from projected 4.99 per cent this fiscal year,...
WASHINGTON (AP): President Bush emerged from a meeting with foreign financial officials on Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth." Bush announced no new strategies to...
S M JahangirThe flood-hit marginal farmers are receiving a nominal amount of cash as compensation to their losses of 'Aman' crop as the finance ministry released less than one-fourth of the fund proposed for the rehabilitation scheme, official sources said."The...
Jasim Uddin Haroon Automation at Chittagong Customs House (CCH) will require more time to be fully operational as the prime users have not yet prepared themselves to be compatible with the advanced system.The CCH in cooperation with Chittagong Chamber of...
FE ReportPetrobangla has asked the Canadian oil company Niko Resources to try increase gas production from Feni field aiming to meet the ever-growing demand, an official said Saturday.Niko Resources, however, sought payment of its outstanding arrear bills from state-owned Petrobangla...
Naim-Ul-KarimThe Regulatory Reforms Commission (RRC) has decided to hold series of consultations with entrepreneurs of small and medium enterprises to know the hurdles they are facing in doing business in the country, an official said Saturday.The RRC, created by the...
Doulot Akter MalaThe government has taken a move to offer facilities to the Non-resident Bangladeshis (NRBs) through implementation of the 'special citizen facility policy-2008'.The National Board of Revenue (NBR), ministries of expatriates' welfare and overseas employment, home, housing and public...
The Supreme Court (SC) reopens today (Sunday) after a long 42-day annual vacation, with both its divisions poised to take up hot tasks of dealing with top politicians' graft cases, reports UNB. Among other applications on the list for the...
DETROIT (AP): General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports. The Wall Street Journal, citing people it described as familiar with the discussions, reported...
PARIS, Oct 11 (AFP): Eurozone leaders gather Sunday for a summit on the financial crisis, the French presidency said, as they race to make joint plans to help battered banks after weeks of separate national interventions.The summit of heads of...
WASHINGTON, Oct 11 (Internet): The head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, urgently called Friday for "cooperative" actions to boost confidence and ease a global financial crisis."The world must act quickly, forcefully and cooperatively to contain the ongoing...
NEW DELHI, Oct 11 (Internet): Inflation dropped to a 16-week low of 11.8 per cent for the week ended September 27 from 11.99 per cent in the previous week. However, the year-on-year inflation is still way above 3.36 per cent...
OTTAWA, Oct 11 (AFP): Canada's imports showed their biggest monthly drop since 1991 in August, Statistics Canada said yesterday, which analysts said pointed to weakening domestic demand and a gloomy outlook for the economy.Overall, the trade surplus grew by 38...
SAO PAULO, Oct 11 (AFP): Brazil, Argentina, Mexico and other Latin American economies are being hammered by the global financial crisis, with battered stocks and currencies hitting multi-year lows.Friday saw the region's major equity indices deepen week-long losses.Latin America's biggest...
BEIJING, Oct 11 (AFP): China's central bank has pledged to continue international cooperation to tackle the global financial crisis and maintain market stability, according to state media.The pledge came Friday after China this week joined the US Federal Reserve, the...
UNITED NATIONS, Oct 11 (Internet): Instead of sidelining the fight against climate change, the global credit crisis could hasten countries' efforts to create "green growth" industries by revamping the financial system behind them, the UN climate chief said Friday.But that...
WASHINGTON, Oct 11 (Reuters): The Indian economy and banking system are sound, the Reserve Bank of India (RBI) chief assured the world financial community Friday, as a global credit crunch intensified and world stock markets tumbled. "What we are witnessing...
ROME, Oct 11 (Internet): The Italian employers' association predicts negative growth for the country next year, its head said Saturday, down nearly one percentage point to minus 0.5 percent, ANSA news agency reported.Emma Marcegaglia, speaking in Assisi, said, "We were...
HANOI, Oct 11 (Internet): Vietnam has given the go-ahead for Australia's ANZ bank to set up a wholly owned subsidiary based in Hanoi, an official statement said here Saturday.ANZ will be allowed to operate in the communist nation for 99...
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