Corruption on rise in many areas, declines in a few

The incidence of bribery in law enforcement agencies, judiciary, electricity authorities, banks and tax department declined during January-June 2007 period following the anti-corruption drive undertaken by the caretaker government.On the other hand, the incidence of bribery increased in education, health,...

Cabinet approves Right to Info Ordn

The cabinet has provisionally approved the Right to Information Ordinance 2008, a government spokesman said Wednesday, reports bdnews24.com."The ordinance has been sent to the law ministry for vetting," the chief adviser's press secretary Syed Fahim Munaim told reporters after a...

Khaleda demands political detainees' treatment abroad

Former prime minister Khaleda Zia demanded Wednesday all ailing political leaders' treatment abroad, if necessary, while Communications Adviser Ghulam Quader said no impediment remains to release of the detained former premier, reports bdnews24.com.'There is no problem with releasing Khaleda Zia...

Budget silent on power sector development

The proposed budget for 2008-9 was hailed as a business friendly one. Duty reduction on capital equipment and raw materials proposed in it is intended to much stimulate industrial activities. Proposed cuts on corporate tax and upping duties on imported...

Gold surges on firm global cues

NEW DELHI, June 18 (PTI): Snapping a two days falling streak, the gold prices Tuesday shot up by Rs 270 to Rs 12,505 per 10 gram on the bullion market here on emergence of buying by stockists and jewellery fabricators...

NBR makes changes in HS Code to help resolve disputes over duty

The government has brought uniformity in Harmonised System of Code (HS Code) of 47 products to resolve disputes over fixation of applicable duty on the same category products under different codes.The National Board of Revenue (NBR) has made the change...

sports digest

Greece keep faith with RehhagelGreece coach Otto Rehhagel will keep his job, despite the European champions' early exit at Euro 2008. The German coach led Greece to an improbable victory at Euro 2004 and is under contract for another two...

A focus on 'real' results must not be at expense of reality

PHRASES such as 'headline earnings', 'core results' and 'underlying profit', often accompanied by 'adjusted' or 'record', are common features in many financial reports.At a time of nervous markets and uncertain economic prospects it seems increasingly popular to exclude certain items...

HC orders today on Ganges water sharing writ

The High Court (HC) passes its orders today (Thursday) upon a public-interest litigation (PIL) writ petition seeking court direction for ensuring due share of the Ganges water and an overdue review of the India-Bangladesh Ganges Water Treaty, reports UNB.After closing...

Govt sues Niko over Tengratila gas blowout damage

The government has filed a case against the Canadian oil company Niko to realise compensation for the losses caused by the gas blowout at Tengratila in Sunamganj, said M Tamim, special assistant to the Chief Adviser, Wednesday.'As it is now...

Convicted PRO of KCC sent to jail after surrender

KHULNA, June 17 (UNB): Khulna City Corporation (KCC) Public Relations Officer Sardar Abu Taher, who was sentenced to 17 years imprisonment in two extortion cases, surrendered before a court here Tuesday.Additional District and Sessions Judge Nazrul Islam sent Abu Taher...

China's economic growth likely to slow to 10.4pc this year

BEIJING, June 17 (Xinhua): China's economy is forecast to grow at a slower annual rate of 10.4 per cent in 2008 because of a deteriorating external environment and domestic tightening policy, a research report said.The gross domestic product (GDP) in...

BCB decides not to extend contracts of six players

Bangladesh Cricket Board (BCB) has decided not to extend the six-month contracts of six players including Khaled Mashud Pilot and Javed Omar Belim, which expired on May 30, reports UNB.Four other players whose contracts have not been extended are Tushar...

Tight security as Olympic flame starts Xinjiang leg

URUMQI, (China), June 17 (AFP): Police imposed a security lockdown as the Olympic torch Tuesday started its run through China's mainly Muslim region of Xinjiang, seen as one of the most sensitive legs on its nationwide journey. The centre of...

Confidence Cement approves 15pc dividend

CHITTAGONG, June 17: The 17th annual general meeting (AGM) of Confidence Cement Ltd was held on its Madambibir Hat factory premises on Sunday. The board of directors of the company declared 15 per cent cash dividend for the shareholders for...

Western banks fall into the addiction trap, Japanese-style

A decade ago I lived in Tokyo, where I wrote about Japan's banking woes. For several nail-biting years, I watched as the Bank of Japan (BoJ) unveiled a stream of ever-more creative measures that were designed to combat the risk...

EU team talks party, electoral reforms with AL presidium

The visiting European Elections Exploratory Mission Tuesday discussed legal aspects of political parties and electoral reforms in Bangladesh in a meeting with Awami League (AL) presidium members as part of their assessment of the pre-election situation, reports UNB.The two-hour consultation,...

Call rate eases, dollar on steady track

The inter-bank call money rate slightly eased Tuesday due to injection of fresh cash into the market. The US dollar, however, was steady against Bangladesh taka (BDT) in the inter-bank foreign exchange with moderate demand for the greenback, fund managers...

Mirza Aziz sees no threat to private sector loan growth due to rise in bank borrowing

Finance and Planning Adviser Dr AB Mirza Azizul Islam Tuesday brushed aside the concern that loans to the private sector may be affected in the coming fiscal 2008-09 due to enhanced government borrowing from the banking sector."I don't see any...

Booming Asian forex trade has dollar-settlement risk

BASEL (Switzerland), June 17 (AFP): Foreign exchange trading in Asian currencies has surged but is being held back by anti-speculation controls and carries time-zone risk through dollar settlement, a research paper at the BIS has found.The authors of the report...

'US entitlement spending may hit rates, growth'

WASHINGTON, June 17 (Reuters): Rising spending on US Social Security and Medicare programmes, if unchecked, will inflate national debt and the budget defect, ultimately affecting interest rates and economic growth, Federal Reserve Chairman Ben Bernanke said Monday."There are limits to...

Purchase body approves urea import from Qatar

Advisor Committee on Public Purchase Tuesday approved a proposal of the industries ministry to import 12,000 tonnes tons of urea fertiliser from Qatar, reports UNB.As per the proposal, the state-owned Bangladesh Chemical Industries Corporation (BCIC) will import the fertiliser in...

Insurance sector issues lead Dhaka stocks' gain

Dhaka stocks gained slightly Tuesday led by insurance sector issues for the second day in a row, amid a persistent decline in the turnover.Trading on the Dhaka Stock Exchange (DSE) was positive for the opening hour. But later it went...

Call to allocate fund for setting up spl agro-based EPZ in Rajshahi

RAJSHAHI, June 17: Executives of NGOs, local elite and businessmen of Rajshahi have placed a seven-point charter of demands to be included in the proposed budget.They placed the demands through a recent press conference at the auditorium of Barendra Unnayan...

Argentina debt level higher than in 2001

Argentina's debt levels are now higher than they were when the country crashed into the biggest sovereign debt default in history in 2001, and a worsening crisis of confidence in the government brings the spectre of a new default closer,...

Delivering the goods to the poor

Alleviation of poverty is a big issue that the successive governments of the country have been trying to address over the years. Not in the distant past, the United Nations (UN) and the leaders of the rich nations at their...

UK minister Shahid Malik arrives in city

A UK junior minister for international development, Shahid Malik, arrives in Dhaka Wednesday on a two-day visit to discuss the political situation and development projects in Bangladesh, the local DFID office said in a statement.Malik is the fourth UK minister...

Oil slightly lower after nearing 140 dollars

SINGAPORE, June 17 (AFP): Oil prices fell slightly Tuesday after surging to all-time highs close to 140 dollars amid uncertainty that a reported pledge by Saudi Arabia to increase output would curb costs, dealers said.The main New York futures contract,...

Casson, Clark seal series win

Beau Casson fought off some harsh treatment from Dwayne Bravo to help Australia grind their way to an 87-run win in Barbados to secure a 2-0 series victory. The visitors' success was not without some tense moments after Bravo and...

Sectarian attack kills four in Pakistan

KOHAT, (Pakistan), June 17 (Reuters): Suspected pro-Taliban militants shot and killed four Shi'ite Muslims in northwest Pakistan on Tuesday in what appeared to be the second deadly sectarian attack in two days. Pakistan has a bloody history of violence between...