To intervene or not, that is the question

GENERAL Tan Shwe (Tan who?) is not exactly a household word. But Myanmar's strongman and top military honcho, by now 16 years in power, made a strong claim for the "Dictator of the Year" Award in 2008 for the manner...

Ha-Meem Group wins JCPenney int'l award

Ha-Meem Group won the JCPenney International Award in 'Technical Design' among all international suppliers of the JCPenney at a hotel in Hong Kong recently.JCPenney Purchasing Corporation chairman and chief executive officer (CEO) Mike Ullman handed over the award to Ha-Meem...

Shahjalal Bank to buy Tk 118.91m ICB Islamic Bank shares

Shahjalal Islami Bank Limited will acquire a total of 1,18,916 shares worth Tk 118.91 million (face value Tk 1000) of ICB Islamic Bank (formerly Oriental Bank Ltd).According to a price sensitive information posted on the Dhaka Stock Exchange (DSE) website...

sports digest

Beckham leads MLS All-Star fan ballotingNEW YORK, June 11: Major League Soccer fans' love affair with English import David Beckham shows no sign of fading. The Los Angeles Galaxy superstar midfielder is the overwhelming leader in fan voting for the...

World Bank sees inflation threat to poor nations

Chris Bryant, FT Syndication ServiceWASHINGTON: Developing economies have proved resilient to credit market turmoil, but soaring food and energy prices pose a significant threat, says a World Bank study.In its annual report on global development finance, the bank trimmed its...

CEC hands over report on political dialogue to President

A delegation of the Election Commission (EC) led by Chief Election Commissioner (CEC) ATM Shamsul Huda handed over Wednesday a report on the recently-held dialogue between the EC and the political parties to President Iajuddin Ahmed at Bangabhaban, reports UNB.Election...

33 killed in Sudanese airliner blaze

KHARTOUM, June 11 (Reuters): A Sudanese airliner coming from Amman and Damascus burst into flames after landing in Khartoum on Tuesday night, killing at least 33 of the 217 people on board, officials and witnesses said on Wednesday Doctors and...

BRAC won't interfere into admn affairs of pry schools

BRAC will not interfere into administrative affairs of primary schools while discharging duties to upgrade the quality of education through its non-formal primary education programme (NFPE), BRAC founder and chairperson Dr Fazle Hasan Abed said."We want to assure everybody that...

Confidence among political forces to be built thru' dialogue: Adviser Zillur

Commerce Adviser Hossain Zillur Rahman said Wednesday the government is committed to building confidence among all political forces through dialogue to move the country forward, reports BSS."We hope that an atmosphere of confidence would firmly be built up and we...

Adopting and operating a competition policy

IT is not only enough to claim the functioning of a market economy and to feel content that competition, expected to be created within such an economy among different producers of goods and providers of services, would automatically lead to...

Khaleda happy over Hasina's release

Detained former prime minister Khaleda Zia Wednesday expressed satisfaction over the release of her political rival Sheikh Hasina from jail, a lawyer said, reports bdnews24.com."I am happy to know she has been released," Khaleda was quoted as saying by Barrister...

China needs to invest in safety: EU

BEIJING, June 11 (AP): The European Union's top consumer protection official urged China on Wednesday to invest more in product safety for its myriad small producers.EU Consumer Protection Commissioner Meglena Kuneva said Europe was monitoring whether China's steps to improve...

Urfi promoted as Grey Worldwide's regional director

Urfi Ahmad, client services director of Grey Worldwide Bangladesh, has been promoted as regional director for Asia Pacific and will be moving to the Grey's regional centre based in Kuala Lumpur, Malaysia.Mr Ahmad began his advertising career with Grey Bangladesh...

Proposed budget good for meeting short-term targets: ICMAB

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) gave its reaction Tuesday to the proposed national budget for the year 2008-2009.It said the nation does not expect a long-term target-oriented budget from a non-party neutral caretaker government. The...

commodities digest

China to invest 2.5b dollarsin private equity fundSHANGHAI, June 11: China's foreign exchange regulator is to invest more than 2.5 billion dollars in the latest portfolio launched by US private equity fund TPG, the Financial Times reported today. The fund...

Biman to construct commercial structures on own lands

The re-born Biman Bangladesh Airlines Limited is going to construct various commercially viable structures on its own lands across the country for enhancing its revenue earning, accommodation of layover passengers, and minimising operating cost, reports UNB.As a part of this...

Lagerback lauds Ibrahimovic goal

Sweden manager Lars Lagerback lavished praise on Zlatan Ibrahimovic after his stunning goal broke the deadlock in the 2-0 Euro 2008 Group D win over Greece, reports BBC.After 67 turgid minutes Ibrahimovic hit a 25-yard drive into the top corner,...

Big govt borrowing will further fuel inflation: Shomonnoy

A big borrowing plan of the government to offset the budget deficit in the new fiscal will further fuel inflation, Shomonnoy, a local research organisation, said Wednesday."The government will have to borrow huge money from the banking system to minimise...

Financial discipline in public universities

The University Grants Commission (UGC) recently cautioned the public universities of the country against the way they are using their earnings from the admission tests. The cautionary letter, among other 13 points it dwelt on, has noted that the faculties...

Dhaka stocks fall

Dhaka stocks plunged Wednesday due to panic selling spree caused by fears that the market regulator might impose some sort of restrictions on trading.The benchmark DSE General Index (DGEN) sank to its highest single day fall this year hitting 93...

Mango prices unlikely to come down

RAJSHAHI, June-11: The prices of mango in Rajshahi district are unlikely to come down this season because the agents of various companies are purchasing huge quantities of mango from various markets of Rajshahi and Chapainawabganj districts.The agents of corporate companies...

UN under attack again

NEW YORK, June 11: The United Nations is under attack again. This time for employing subterfuge method to appoint the United Nations High Commissioner for Human Rights. Human Rights watchdogs and diplomats have accused that the procedure followed to appoint...

developments in the region and abroad

Pakistan condemns 'cowardly' US attack; 11 deadISLAMABAD, June 11, 2008 (Reuters): Pakistan said on Wednesday an "unprovoked and cowardly" air strike by U.S. forces had killed 11 Pakistani soldiers on its border with Afghanistan and undermined the basis of security...

Releasing Khaleda, her sons under govt consideration

The caretaker government has attached the highest importance to humanitarian considerations like releasing detained former Prime Minister Khaleda Zia and her two sons for treatment, journalists were told Tuesday, reports UNB.Education Adviser Dr Hossain Zillur Rahman disclosed the government step...

Long-term 'fair value' for housing extremely difficult to discern

FT Syndication ServiceNothing now creates more uncertainty for markets, and nothing has greater import for the future, than the course of house prices in the US.US housing, of course, lit the fuse for the credit crisis. Among measures of housing,...

IGLOO Sugar launched in market

IGLOO Sugar -- a merchandise of Abdul Monem Limited, the manufacturer of IGLOO Ice Cream and dairy milk, has been launched in the city Tuesday.The premium refined sugar of IGLOO will now be available in the open market in retail...

Bata starts marketing of Nike shoes

Bata Shoe company Limited Wednesday started marketing the renowned Nike shoes and sportswear across the country to provide the consumers with a variety of sports and lifestyle wears.Jorge Carbajal, managing director of Bata Emerging Markets (West) and J.D. Hearns, managing...

Fiscal measures will 'help escalate prices of reconditioned cars'

Bangladesh Reconditioned Vehicles Importers and Dealers' Association (BARVIDA) Wednesday demanded introduction of specific tariff on the basis of engine capacity for import of cars instead of existing variable duty structure.It said the fiscal measures, proposed in the budget, will only...

Oil costs to push some Asian airlines under

SINGAPORE, June 11 (AFP): Record-high oil prices have sparked the biggest crisis in the Asian airline industry since the SARS scare, and analysts say some carriers are likely to go under if prices do not let up soon.They say many...

Bhutan likely to join WTO by 2009

THIMPHU, June 11 (PTI): Bhutan is likely to join the World Trade Organisation (WTO) by 2009, but the country will not immediately open up its financial and services sectors completely, trade officials have said.Bhutan has so far agreed to open...