GP to seek IPO permission from SEC by month-end

The board of directors of Grameenphone, the largest mobile telephone company in Bangladesh, has approved the proposal for floating the initial public offering (IPO)."A formal application for the IPO with expected gross proceeds of upto $150 million (around Tk 10.35...

Orientation ceremony at DU

Dhaka University (DU) Vice-Chancellor SMA Faiz urged students to gather proficiency in English language alongside their mother tongue, as there was no alternative to learning English to keep pace with the competition of globalisation.Terming the DU teachers as senior scholars...

Iajuddin greets Nepal President

President Professor Dr Iajuddin Ahmed felicitated Wednesday the newly elected president of Nepal Dr Ram Baran Yadav, reports UNB.In a congratulatory message, Professor Iajuddin Ahmed referred to the close ties between Bangladesh and Nepal and expressed the hope that the...

Truth Commission to start working within 10 days: Law Adviser

The Truth and Accountability Commission (TAC) is expected to be operational within the next 10 days, Law Adviser AF Hassan Ariff said Wednesday, reports bdnews24.com."The process of forming the commission is in the final stage. We hope it will start...

Obama's West Bank trip raises hope, skepticism

RAMALLAH, Jul 23 (AP): Palestinian President Mahmoud Abbas wants Barack Obama to take away one message from their meeting Wednesday - he should focus immediately on the Israeli-Palestinian conflict if elected, or any gains made in peace talks could vanish.Obama,...

DU teachers call for boycotting war criminals socially

Dhaka University (DU) teachers Wednesday formed a human chain programme demanding punishment of those who assaulted freedom fighter Mohammad Ali in a recent conference of 'so-called' National Freedom Fighters' Council in the city. The teachers had called for boycotting the...

Poor leadership, war and terror hampering MDG achievements

Poor leadership, conflict, war and terror, global warming, trade barriers and energy insecurity are hampering achievements of the millennium development goals (MDGs) throughout the world, an international expert said Wednesday."The US and the Group 7/8 are ambivalent about the MDGs....

Debut trading of 2nd NRB Mutual Fund Sunday

Shares trading of the ICB AMCL Second NRB Mutual Fund, the close-end mutual fund, will make debut in the stock exchanges on Sunday.The decision came in the board meeting of Dhaka Stock Exchange (DSE) held Wednesday.The meeting also decided that...

Saudi embassy issues 1,000 visas a day to Bangladeshis

Saudi Embassy in Dhaka now issues some 1,000 visas everyday to Bangladeshi people, newly appointed Saudi Ambassador Dr Abdullah Bin Naser Al Busairi Wednesday apprised Chief Adviser Dr Fakhruddin Ahmed, reports UNB.During a courtesy call on the Chief Adviser at...

2nd Office Handball League begins today

The Design Zone 2nd Office Handball League, organised by Bangladesh Handball Federation, begins today (Thursday) on the Outer Stadium Handball ground in the city, reports UNB.Defending champions Bangladesh Rifles will meet Bangladesh Police in the inaugural match at 3:30 pm.Bangladesh...

Khaleda, Tarique deny role in Orphanage Trust graft

Detained former Prime Minister Khaleda Zia and her elder son Tarique Rahman Wednesday denied outright their involvement in irregularities involving the Zia Orphanage Trust, for which a graft case was filed against them and five others, reports UNB.They were separately...

Faridpur, Jhenidah, Narail, Jamalpur DSAs emerge zonal champs

Four teams -- Faridpur, Jhenidah, Narail and Jamalpur DSAs -- emerged zonal champions to reach the final round of the Spectra Group National Women's Kabaddi Championship Wednesday, reports UNB.The seven-team final round will be held in the city on the...

Two ministries at loggerhead over reopening of closed mills

The ministries of finance and industries have taken an opposing stand over reopening of a laid-off state-run chemical factory in Chittagong, officials said Wednesday.Industries ministry wants resumption of operation of Chittagong Chemical Complex that has remained closed since 2002. But...

BASF tops world's chemicals ranking

BASF Bangladesh Limited, a subsidiary of German-based BASF SE maintained its 1st place in the global chemical market and ranked 73 rd largest company in the world (based on 2007 sales figure).A recent publication of Fortune Global 500 disclosed this,...

corporatewatch

four new productsGlaxo SmithKline Limited has decided to import and market four consumer products of GlaxoSmithkline plc, UK in addition to pharmaceutical products. The company has expressed the hope that its revenue is likely to be around Tk 400 million...

Securing supply of foodgrains

NOTWITHSTANDING bumper production of the boro rice crop in the country, a warning came recently from a seminar that government needs to pay more attention to the issue of importing food grains in time to keep prices stable. Already, the...

Dollar nudges higher against yen in Asia

TOKYO, July 23 (AFP): The dollar rose slightly against the yen in Asian trade today, propped up by a drop in oil prices and renewed speculation about possible US interest rate rises, dealers said.The US currency gained to 107.33 yen...

BB starts disbursing fund from WB's IPFF

The central bank has started disbursement of fund to the power sector for financing under the Investment Promotion and Financing Facility (IPFF) Project to enhance power generation in the country.The Bangladesh Bank (BB) signed an agreement with the National Credit...

Major rescue package for US housing market to come to vote

WASHINGTON, July 23 (Reuters): A major rescue package for the US housing market is scheduled to come to a vote in the House of Representatives Wednesday, with lawmakers agreeing final language late Tuesday and congressional analysts putting a $25-billion potential...

Border skirmish disrupts trade, immigration thru' Sonamasjid

CHAPAINAWABGANJ, (UNB): Cross-border trade and immigration through Sonamasjid Landport disrupted following the encounter between Indian Border Security Force (BSF) and Bangladesh Rifles (BDR) troops.Border guards of Bangladesh and India exchanged fire on Pirojpur border in Shibganj Upazila early Wednesday in...

Singapore's June inflation at 7.5pc

SINGAPORE, July 23 (AFP): Singapore's annual inflation rate in June was 7.5 per cent, kept up at a 26-year high by food, housing and transport costs, the government said today.Last month's rate was the same as that recorded for May...

Call for making Islami Bank a model one

Managing Director of Islami Bank Bangladesh Limited (IBBL) M Fariduddin Ahmad has urged the officials of the bank to work together to promote the bank as a model one.He was delivering his inaugural speech at a 'Business Promotion Meeting' organised...

Oil prices lower as threat from hurricane eases

SINGAPORE, July 23 (AFP): Oil prices eased in Asian trade today as it looked like Hurricane Dolly would spare vital energy production facilities in the Gulf of Mexico, dealers said.They said renewed worries about slower US economic growth, which could...

SC upholds HC verdict on bail to Salman, MK Anwar

The Supreme Court (SC) Wednesday turned a deaf ear to the Anti-corruption Commission (ACC) plea for staying High Court (HC) bail to detained business tycoon Salman F Rahman and ex-BNP minister MK Anwar in separate graft cases, reports UNB.MK Anwar...

Beijing hotels slash rates by 20pc ahead of Olympics

BEIJING, Jul 23 (PTI): After jacking up room rents ahead of Olympics next month, hotels here, have slashed the rates up to 20 per cent in their last ditch bid to woo tourists who appear to be shying away from...

Warnapura hits unbeaten 50 as Sri Lanka closes rain-shortened first day at 85-2

COLOMBO, July 23 (AP): Malinda Warnapura hit his third test half-century Wednesday as Sri Lanka reached 85-2 at close of a rain-shortened opening day of the first cricket test against India.Overnight and morning rain and wet ground meant only 22...

Falling gas reserve and aftermath

Two contradictory reports appeared in the FE the same day this week. One of the reports says the country will not afford to have any more gas-fired power plants due to dwindling supply of the natural gas. The other report...

Chelsea's Terry still haunted by penalty miss

GUANGZHOU, China, July 22 (AFP): Chelsea captain John Terry admitted he was still haunted by his horror penalty miss in the Champions League final as he gears up for the new season here.Terry, who will lead Chelsea against Guangzhou Pharmaceutical...

Fined for violating tobacco law

An anti-tobacco mobile court fined six persons and two establishments a total of Tk 1,500 for violating tobacco (control) law 2005 Tuesday.Magistrate Mohammad Kamruzaman in cooperation with the directorate of health services conducted a drive at Kamalapur Railway Station in...

Rising Padma to inundate low areas in Munshiganj, Manikganj, Dhaka

Heavy rains upstream have been pushing the Ganges-Padma to inundate low lying areas down stream at Munshiganj, Manikganj and Dhaka districts in next 24-72 hours, Flood Forecasting and Warning Centre (FFWC) reported Tuesday, reports BSS.It also warned that the north,...