People's Leasing approves 35 pc stock dividend

People's Leasing and Financial Services Limited (PLFS) approved 35 per cent stock dividend for its shareholders for the year that ended on December 31, 2007.The approval came at the 12th annual general meeting (AGM) of the non-banking financial institutions (NBFI)...

Food prices will start coming down: Zillur

Commerce Adviser Hossain Zillur Rahman Thursday said that the prices of essentials will start coming down, reports bdnews24.com."The International Monetary Fund (IMF) has said that food prices in the international market are decreasing. We hope the impact will fall on...

Transcom arranges prize distribution ceremony

The prize distribution ceremony for the light sellers of Sylhet region of Transcom Electronics Limited was held recently.Abdul Kadir Khoshru of Shammi Electric received the first prize while Bijoy Das Joyonto of Umma Electric won the second prize among the...

Call rate loses ground, dollar remains steady

The inter-bank call money rate lost ground Wednesday due to comfortable flow of cash in the market. The US dollar, however, appeared stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market with moderate demand for the greenback, fund...

Oil prices ease after US crude report

SINGAPORE, June 26 (AFP): Oil prices fell in Asian trade today but the market remains supported by supply worries despite an increase in US crude stockpiles, dealers said.New York's main oil futures contract, light sweet crude for August delivery, dipped...

1,000 eye patients given free treatment

MUNSHIGANJ, Jun 26 (UNB): A free eye camp set up at Bhaberchar Health Complex in Gazaria upazila provided treatment and medicines to nearly 1,000 eye patients Tuesday.Vision Twenty-Twenty, a social organisation, organised the eye camp.Deputy Commissioner M Monir Uddin was...

Corruption plagues water sector

Corruption has plagued the country's water sector like other economically potential sectors as around half of the expenditure earmarked for this sector goes down the drain, Transparency International Bangladesh (TIB) revealed Thursday."Systems loss in Bangladesh's water sector especially in irrigation,...

30 shops gutted in fire

PIROJPUR, Jun 26 (UNB): About 30 shops were gutted in a devastating fire at Pharmacy Patti in Mathbaria municipality area Wednesday night.Fire brigade sources said the fire erupted at about 12:15am from an electric short circuit in a shop, owned...

Shari'ah Council of IBBL holds meeting

A meeting of the Shari'ah Council of Islami Bank Bangladesh Limited (IBBL) was held at Islami Bank Tower in the city Tuesday.Moulana Mohammad Qutubuddin, shari'ah council chairman and President of Baitush Sharf Anjuman-e-Ittehad Bangladesh, presided over the meeting.Member Secretary of...

Tk 5b sanctioned for cash-strapped BPC

The finance ministry sanctioned Thursday Tk 5.0 billion for the cash-strapped state-owned Bangladesh Petroleum Corporation (BPC) that faces a record business loss worth Tk 10.08 billion next month due to higher payment liability, officials said.The amount has been released to...

SAARC summit in Colombo Aug 2-3

Hit by escalating global food prices and energy costs the South Asian Association for Regional Cooperation (SAARC) holds a summit on August 2-3 in Colombo with food security and energy self sufficiency high on agenda.Heads of government of eight- member...

Abahani earn face-saving win over Pakistan WAPDA

Bangladesh champions Abahani limited earned a face-saving 1-0 goal victory over Pakistan WAPDA in their third and last group match of the AFC President's Cup Football at the MPPJ Stadium in Kuala Lumpur Thursday, reports UNB.Zahid Hasan Emily scored the...

Asian palm oil producers facing a good year

JAKARTA, June 26: High global prices for palm oil mean good times ahead for Asian producers over the next 12 to 18 months but little growth in much-touted biofuels, credit rating agency Moody's said today."A rapid rise and continued high...

Bangladesh economy towards autarky

THE question is whether or not the economy of 150 million pairs of working hands can attain that goal. Have not the incumbent and the recent past governments led us to uncertainties? It is a sordid commentary on our state...

FBCCI leaders, CCCI president made CIPs

The government has selected Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Annisul Huq, its First Vice President Abul Kashem Ahmed and Chittagong Chamber of Commerce & Industry (CCCI) president Saifuzzaman Chowdhury as CIPs (Commercially Important Persons)-Industry.Five FBCCI...

Kuwait budget sees record spending, deficit

KUWAIT CITY, June 26 (AFP): The Kuwaiti parliament today passed the budget for the 2008/2009 fiscal year projecting record spending of 18.966 billion dinars (71.4 billion dollars) and a massive deficit.Spending in the fiscal year from April 1 to March...

Israel keeps Gaza borders sealed in wake of rocket fire

JERUSALEM, June 26 (AFP): Israel maintained a tight seal around the Gaza Strip Thursday, keeping the impoverished territory's borders closed two days after Palestinian militants fired rockets in breach of a truce."The Gaza crossings are still closed," said military spokesman...

Asian nations fight currency depreciation

SOUTH Korean authorities last Tuesday sold as much as $1.0bn to shore up the won, according to currency traders in Seoul, underlining concerns in several Asian countries about weakening currencies in the face of oil-fuelled inflation.With inflation last month at...

Green Delta Ins AGM approves 15pc cash, 35pc stock dividends

Green Delta Insurance Company Ltd declared 15 per cent cash and 35 per cent stock dividend for the year 2007 at the 22nd annual general meeting of the company held at a city hotel Thursday.Green Delta Chairman Kabir H Choudhury...

Singapore factory production down 12.8pc in May

SINGAPORE, June 26 (AFP): Singapore's industrial production in May slumped by a much-bigger-than-expected 12.8 per cent from a year ago, pulled down by a 55.1-per cent drop in biomedical output, the government said today.Analysts had projected a fall of 2.5...

Hasina takes treatment for her ears in Florida

Awami League president Sheikh Hasina flew to Toronto, Canada, Thursday morning after having treatment for her damaged ears in Orlando, Florida, in the United States, reports UNB.Awami League sources in Florida said that ear specialist Dr Michael D House adjusted...

developments in the region and abroad

KATMANDU, JUNE 26 (AP): Nepal's prime minister announced hislong-delayed resignation Thursday, clearing the way for theformation of a new coalition government led by former communist rebels.Girija Prasad Koirala made the announcement at the Constituent Assembly, elected in April to rewrite...

Bank certificate not must to update BO account

The Securities and Exchange Commission (SEC) has annulled the compulsory submission of bank certificate, earlier required to update or open a Beneficiary Owner's (BO) account, considering the investors' financial burden on account of high charges coerced by bank branches.'From henceforth,...

China lessons for business schools

Many opted for joint EMBA programmes, but it has not all been plain sailing.Cass Business School at City University in London, for example, has suspended its EMBA, which it ran in Shanghai, after enrolling just two classes. The school is...

Human trafficking in Bangladesh

HUMAN trafficking has spread slavery to every continent and most countries. It goes on a par with the drugs and illegal arms trade ad is one of the most profitable forms of illegal activity.Bangladesh is a source as well as...

Germany beat comeback kings Turkey to reach Euro final

BASEL, Switzerland, June 26 (AFP): Defender Philipp Lahm's late strike put three-times European champions Germany in Sunday's Euro 2008 final and sealed a 3-2 win to knock out injury-ravaged Turkey.Lahm's 90th minute goal made sure Vienna will be Germany's final...

IMW holds first customer meet

The first IMW customer meet was held at a city hotel Monday.GETCO Trading Limited organised the event while IMW Industries Limited of Canada was the main sponsor.About 200 CNG station owners attended the meeting and exchanged views with IMW and...

Banks can use Tk 93.37b excess liquidity for credit expansion: BB

The excess liquidity with the commercial banks stood at Tk 93.37 billion in April this year, which could be used for expansion of credit to the private sector, Bangladesh Bank said in a report on Thursday."The excess of liquid assets...

Pentagon opts against sledge hammer

FT Syndication ServiceWASHINGTON: US military commanders were quick to tout General Ashfaq Kiyani as "his own man" after he replaced Pervez Musharraf, the Pakistani president, as the country's army chief of staff last November.The Pentagon hoped Gen Kiyani would develop...

Burma cyclone survivors suffer food shortage

FT Syndication ServiceBANGKOK: Burmese survivors of cyclone Nargis are trying to rebuild their battered lives but their situation remains precarious, with many families struggling to get enough to eat each day, according to a new international study.Almost a third of...