Olympics won't be financial burden to Beijing

BEIJING, June 3 (Xinhua): Despite being billed as the costliest Games ever, the Beijing Olympics won't be a financial millstone around the neck of the Beijing municipal government in the years to come, said Standard & Poor's Ratings Services in...

SEC approves IPO of First Security Bank, rights offer of BRAC Bank

The Securities and Exchange Commission (SEC) Tuesday gave approval to the First Security Bank (FSB) to raise Tk 1.15 billion through initial public offering (IPO).The FSB will be the first private commercial bank to offer the largest number of primary...

Matin new DMD of Uttara Bank

MA Matin has been promoted to post the deputy managing director (DMD)of Uttara Bank Limited.Prior to the new assignment, he was the assistant managing director of the same bank.Mr Matin started his banking career in 1977 with Uttara Bank Limited...

Asian stocks slide

HONG KONG, June 3 (AFP): Asian stocks slid Tuesday due to fears that high inflation threatened economic growth and following a Wall Street tumble triggered by renewed concerns about the global financial crisis.Japanese shares ended 1.60 per cent lower as...

China, S Asian nations share experience in reducing poverty

BEIJING, June 3 (Xinhua): China kicked off a two-week seminar here yesterday providing a platform for officials and experts from the country and south Asian nations to share respective experience in poverty reduction.About 20 officials from Afghanistan, Pakistan, Bangladesh, Nepal...

Malaysia requires foreign workers to take induction course for visa

KUALA LUMPUR (AP): Malaysia has made it compulsory for all foreign workers to take a course to learn about Malaysia before coming to the country, a minister said Tuesday.Human Resources Minister S. Subramaniam said the induction course became mandatory this...

Regulators to focus on OTC trades

LONDON: International markets regulators will turn their focus to the potential for improving transparency in over-the-counter markets as part of work into the issues thrown up by the credit crunch.The International Organisation of Securities Commissions (IOSCO), the umbrella body representing...

More to it than just 'leaning against the wind'

IN recent months the debate about monetary policy and asset prices has intensified again. This should be no surprise given the deep financial problems affecting in particular the US. However, the issue is certainly not new. In the world of...

Yen gains on financial sector jitters

TOKYO, June 3 (AFP): The yen rose further against other major currencies in Asian trade today as fresh worries about the health of the US financial sector made investors more risk averse, dealers said.The dollar dropped to 104.14 yen in...

Govt will take talks to dists, upazilas, 'if necessary'

Local Government and Rural Development (LGRD) Adviser Anwarul Iqbal said Tuesday dialogue would be expanded to district and upazila levels, if necessary, for greater feedback from citizens, reports bdnews24.com."Dialogue with the political parties is not reflecting people's real concerns," the...

14pc growth in expenditure likely in budget

The government is likely to set the Gross Domestic Product (GDP) estimate at Tk 6131 billion for the fiscal 2008-09, up by Tk 828 billion from fiscal 2007-08, Finance ministry sources said.The size of GDP of the outgoing fiscal is...

CDMP gives radio sets for cyclone preparedness

Comprehensive Disaster Management Programme (CDMP), under the Ministry of Food and Disaster Management, donated 500 radio sets and 500 torch-lights for the cyclone preparedness programme (CPP) being executed by Bangladesh Red Crescent Society.CDMP extended the logistic support as a part...

Myanmar charter 'washes away' Suu Kyi victory

YANGON, June 3 (AFP): A referendum approving a new military-backed constitution for Myanmar has 'washed away' the victory claimed by Aung San Suu Kyi's opposition party in 1990 elections, state media said Tuesday.Her National League for Democracy won by a...

Mosharraf joins IFIC Bank as MD

Mosharraf Hossain has joined IFIC Bank Limited as managing director recently.Prior to this post, Mosharraf was the managing director of Standard Bank Limited for three consecutive terms.Because of good performance and competence in his 38 years of banking career, he...

Govt eyes renewable energy sources for power generation

The government has moved to tap the huge potentials of generating electricity from renewable energy sources to mitigate the nagging power crisis across the country, officials said."The country's first-ever renewable energy policy is being prepared to woo investments for electricity...

Safina stuns Sharapova to throw title chase wide open

PARIS, June 3 (AFP): Dinara Safina sent top seed Maria Sharapova crashing out of the French Open on Monday to throw the Roland Garros title chase wide open.Safina battled back from a set and 2-5 down, and also saved a...

No point in further talks on industrial products' access: WTO

GENEVA, June 3 (Agencies): The WTO's chief negotiator on freeing up access for industrial products said yesterday he sees no point in further talks until member states are ready to compromise over tariffs and other key sticking points.The 152 members...

Dhaka stocks inch up as banking sector leads revival

Dhaka stocks inched up Tuesday, led by banking sector shares after a sharp fall on the previous day, with a significant increase in the turnover.Trading on the Dhaka Stock Exchange (DSE), however, went into the red after just 20 minutes...

Bangladesh needs visionary parties for better water management: Dutch envoy

Ambassador of the Netherlands Bea Ten Tusscher Tuesday said Bangladesh needs visionary parties, stronger planning and efficient implementing agencies for better water management and combating climate change, as she said, this deltaic country loses vast landmass each year and faces...

Fear chasing the wage earners

THE news that the Bahrain government has imposed a temporary ban on issuing work permits to Bangladeshis has come as a shocker for us all. But the worries do not end here. At the same time, those expatriate Bangladeshi workers...

ISN approves 15pc stock dividend

Information Services Network Limited (ISN) declared 15 per cent stock dividend for the shareholders at its 13th annual general meeting (AGM) held at the auditorium of LGED, Agargaon, in the city Monday.ISN Chairman Sayeed Hossain Chowdhury presided over the meeting...

10 offshore blocks set to be leased out to IOCs

The government is set to lease around ten offshore gas blocks to the international oil companies (IOCs) for oil and gas explorations in the Bay of Bengal as the evaluation of bid documents is almost complete, officials said."We are going...

Garment worker's death triggers violence at Savar

SAVAR, June 3 (UNB): Thousands of garment workers went on a rampage on the Abdullahpur-EPZ Road following the death of a fellow worker in a road accident Tuesday morning.The frenzied workers vandalised over 50 garment factories and damaged some vehicles.The...

Holcim (Bangladesh) organises field force management training

Holcim (Bangladesh) Limited recently organised a training course on "Field Force Management Training-2008" for the staff of sales and marketing department at Spectra Convention Centre in the city, says a press release.Holcim (Bangladesh) Limited Managing Director PN Iyer addressed the...

Judge threatens to quit as defence lawyer goes wild

The judge of a special court trying detained former premier Sheikh Hasina in the barge-mounted power plant graft case Tuesday left a latent threat to quit halfway through the proceedings as a defence lawyer went on showing misdemeanours, reports UNB.The...

Govt starts crackdown to create peaceful environment for election: Gen Matin

Home Adviser MA Matin said Monday the government launched the combing operation across then country to crackdown on the miscreants to create peaceful environment for election in December, reports UNB."The election will be held in December and the operation is...

BB to monitor adoption of CSR by banks

The Bangladesh Bank (BB) will monitor the adoption of Corporate Social Responsibility (CSR) by banks and financial institutions and their performance.The adoption of CSR and performance of the corporate entities will be treated as an additional indicator of their management...

Humayun new MD of Karmasangsthan Bank

Md Humayun Kabir has been appointed as Managing Director of Karmasangsthan Bank recently.Prior to his promotion by the Government, he was the deputy managing director of Sonali Bank Ltd.Mr Kabir completed his BA (Hons) and MA in Economics at University...

Hill cutting

THE hills that once were part of Chittagong's scenic beauty and 'pride possession' have been vanishing quickly. But surely Chittagong is not alone to have lost its hills and natural environment, because of human encroachment. Rangamati, Bandarban and Khagrachhari --...

Reduction of registration charge, tax cut and holiday facility sought to boost real estate business

The country's realtors have sought reduction of flat registration charge, tax cut and holiday facility in the upcoming financial bill so that they can build cheaper residences outside the capital, a senior official said Sunday.Apartment businesses in the country marked...