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Asian markets mixed after US rate cut

2007-11-02 00:00:00

BANGKOK, Nov 1 (AP): Asian markets mixed lower Thursday as investors digested the widely expected US rate cut overnight and turned their attention to domestic earnings reports and other local matters.Japanese stocks rose for the second straight session as investors...

corporate watch

2007-11-02 00:00:00

Dividends Usmania Glass: The board of directors of Usmania Glass has recommended 60 per cent cash dividend for the year 2006-2007. The annual general meeting (AGM) of the company will be held at its registered office, Kalurghat, Chittagong at 10am...

US drug sales to fall 17pc

2007-11-02 00:00:00

WASHINGTON, Nov 1 (AP): Pharmaceutical sales in the US will drop to a third of global sales in 2008, from a 50 per cent share two years ago, a report released Thursday stated. Prescription drugs sales in emerging economies in...

Tokyo, London bourses to create new Asian mkt

2007-11-02 00:00:00

TOKYO, Nov 1 (AFP): The Tokyo and London stock exchanges has announced plans for the launch of a new capital-raising market for emerging Asian firms as part of an effort to fend off stiff competition from rival bourses.The Tokyo Stock...

Bangladeshi expats in Britain establish three airlines

2007-11-02 00:00:00

Bangladeshi expatriates in Britain have established three airlines namely Air Sylhet, United Airlines and Royal Bengal Airlines, reports BSS.Air Sylhet is basically an UK-based company and will operate from the United Kingdom (UK) to various European destinations and Bangladesh. United...

Power Cell to re-tender for 50 MW Fenchuganj plant

2007-11-02 00:00:00

The Power Cell of the Power Ministry will go for re-tender for the 50MW Fenchuganj rental power plant (RPP) project, reports UNB.The Power Ministry instructed the tendering authority to immediately move for the re-tendering process as no bid was received...

Pakistan asks India to remove non-tariff barriers on 20 items

2007-11-02 00:00:00

ISLAMABAD, Nov 1 (PTI): Pakistan has asked India to remove non-tariff barriers on the export of 20 products in a bid to narrow down the trade mismatch between the two countries. Commerce Secretary Syed Asif Shah said the list of...

NCC Bank opens its 50th branch at Ctg EPZ

2007-11-02 00:00:00

FE ReportNCC Bank Ltd has opened its 50th branch in Chittagong Export Processing Zone (EPZ). Chairman of the bank Tofazzal Hossain formally inaugurated the branch Tuesday, said a press release. Managing Director Md Nurul Amin presided over the inaugural function,...

ICB AMCL declares NAV of two unit funds

2007-11-02 00:00:00

FE ReportThe Asset Management Company Ltd (AMCL), a subsidiary of Investment Corpora ration of Bangladesh (ICB), has declared the net asset value (NAV) of its two unit funds, according to press release.The total NAV of ICB AMCL Pension Holders' Unit...

Price hike of raw materials hits cottage industry

2007-11-02 00:00:00

Our CorrespondentBRAHMANBARIA, Nov 1: Hike in prices of raw materials has seriously affected the cottage industry producing handicraft products in the district.In the situation, production of handicraft items has declined drastically this year and the local artisans have failed to...

Spurious ghee factory unearthed in Ctg

2007-11-02 00:00:00

Our CorrespondentChittagong, Nov 01: Acting on secret information, a mobile court led by Magistrate Munir Chowdhury launched a drive at the BSTI certified Kohinoor Ghee Factory at the city's Khulshi area and seized 5 tonnes of spurious Kohinoor brand ghee...

Regulatory reforms

2007-11-02 00:00:00

GOVERNMENT has formed a 17-member commission last Wednesday for reviewing the country's various regulations and regulatory institutions. The move is a timely one and could not have come sooner. Ideally, the least regulation is recommended by experts for a truly...

China's billionaires begin to add up

2007-11-02 00:00:00

Robin KwongWHEN China's "rich list" was launched in 1999, it had just one US dollar billionaire Red capitalist- Rong Yiren, the former China vice-president who founded the sprawling, state-controlled Citic conglomerate, topped the list with an estimated wealth of $1.0bn.Now...

Practising accounting standards of international level

2007-11-02 00:00:00

Kamal AhmedDespite some welcome changes in recent years, accounting procedures in many areas of business in the country still continue to be pursued in the traditional fashion with accounting looked upon as nothing more than book-keeping or taking a stock...

Army is an integral part of government

2007-11-02 00:00:00

M Zakiul IslamThe phrase 'military-backed government' was probably used first by 'The Economist' of London to describe the present system of Government in Bangladesh. They always love to put a label, especially if it has to do something with the...

Banks' idle funds

2007-11-02 00:00:00

ACCORDING to reports, the banks in Bangladesh currently maintain a huge surplus of liquidity Excess of funds with the banks suggests that they are not doing business at the expected level which consists in facilitating borrowings by the entrepreneurs and...

Trade issues with India

2007-11-02 00:00:00

IN the present situation, India enjoys one sided huge advantage in its formal and informal trade with Bangladesh. With a free trade agreement(FTA) in place, this picture could change considerably with Bangladeshi export products reaching Indian markets in significantly increased...

Strauss-Kahn takes IMF helm to restore its relevance, finances

2007-11-02 00:00:00

WASHINGTON, Nov 1 (AFP): Frenchman Dominique Strauss-Kahn takes the helm of the International Monetary Fund (IMF) today on a critical mission: to restore the aging institution's relevance and finances. Created to promote global financial stability, the IMF finds itself 63...

WTO trade talks slanted against poor nations: Brazil

2007-11-02 00:00:00

GENEVA, Nov 1 (Reuters): The long-running Doha round of trade talks cannot succeed unless developing countries get a fair deal reflecting their needs, Brazil's Foreign Minister Celso Amorim said yesterday. Amorim told a news conference that the talks were still...

Chinese companies strive to restore 'made-in-China' image at Canton Fair

2007-11-02 00:00:00

GUANGZHOU, Nov 1 (Xinhua): Chinese companies have chosen the Canton Fair, China's largest trade show, to restore the battered image of "Made-in-China" after a series of product safety incidents attracted critical headlines across the world this summer. The fair, which...

Airbus in talks to sell seven production units

2007-11-02 00:00:00

BANGALORE, India, Nov 1 (AFP): European aircraft maker Airbus is in talks to sell seven production bases in Europe to concentrate on the business of making planes, chief executive Tom Enders said here. The seven units manufacture "aerostructures," components and...

World Bank lifts funding access for Vietnam

2007-11-02 00:00:00

HANOI, Nov 1 (AFP): The World Bank today improved funding access for Vietnam, placing it within the ranks of middle income countries due to good development progress and increasing credit worthiness. World Bank country director Ajay Chhibber said Vietnam could...

Oil prices scale record highs in Asian trade

2007-11-02 00:00:00

SINGAPORE, Nov 1 (AFP): Oil prices scaled record highs of more than 95 dollars a barrel in Asian trade today after the Federal Reserve lowered interest rates and following news of a surprise decline in US crude stocks. New York's...

Gold hits fresh 28-year peak on Fed cut

2007-11-02 00:00:00

NEW YORK, Nov 1 (Reuters): Gold hit a fresh 28-year peak yesterday as crude oil thundered to a fresh record high and the dollar slumped to all-time lows against major currencies after the US Federal Reserve cut key interest rates....

BKB officers award meritorious offsprings

2007-11-02 00:00:00

FE ReportThe central committee of the Bangladesh Krishi Bank Officers' Welfare Association organised a colourful reception at the bank's divisional office in Khulna Saturday for the meritorious children of the bank's personnel, who achieved brilliant results in different examinations. Crests...

China pulls export licences of 764 toy makers

2007-11-02 00:00:00

BEIJING, Nov 1 (Reuters): China suspended the export licences of 764 toy manufacturers in the southern province of Guangdong last month because of quality problems, state media said today. The Guangdong Quality Technology Supervision Administration conducted a province-wide investigation into...

Third round of National Cricket League begins today

2007-11-02 00:00:00

The third round of the Ispahani Mirzapore Tea 9th National Cricket League begins Friday with four-day matches at three venues across the country with league leaders Rajshahi Division playing their first away match against Chittagong Division at the Bir Shreshtho...

Injury rules Asif out of first three ODIs

2007-11-02 00:00:00

Mohammad Asif will miss at least the first three matches of the ODI series against India with a long-standing elbow problem, the Pakistan board announced on the day of the team's departure to Delhi, according to website cricinfo. Asif missed...

MacGill, Hogg, Jaques in Test squad

2007-11-02 00:00:00

Stuart MacGill and Brad Hogg will have to wait a while longer to find out who gets the spinner's spot after Australia named both in a squad of 13 for next week's first Test against Sri Lanka. There were no...

Federer, Nadal, Blake advance to third round of Paris Masters

2007-11-02 00:00:00

PARIS, Nov 1 (AP): Top-seeded Roger Federer beat Ivo Karlovic of Croatia 6-3, 4-6, 6-3 Wednesday to reach the third round of the Paris Masters and earn a chance to avenge his loss to David Nalbandian less than two weeks...