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Scrapping depreciation allowance under the Income Tax Ordinance 1984 needs review

2007-08-21 00:00:00

A. Quadir ChoudhuryGovernment support and patronage is a pre-requisite for the growth and development of any industry anywhere in the world. The role of the govt. is expected to be pro-active and facilitative to open up opportunities to the entrepreneurs...

Gaps between commitments and actions

2007-08-21 00:00:00

M. Abu Eusuf NUMEROUS studies indicate that services have the potential to provide a significant development outcome to the Doha Round of negotiations. Unfortunately, progress in this area is directly linked to breakthroughs in Agriculture and Non-Agricultural Market Access (NAMA)...

China may overtake US to become world's second largest exporter this year

2007-08-21 00:00:00

BEIJING, Aug 20 (CEIS): China may overtake the United States to become the world's second largest exporter this year if its current export growth speed continues, said a senior government official here yesterday. Yu Guangzhou, vice minister of commerce, told...

DBL distributes relief goods among flood-hit people

2007-08-21 00:00:00

FE ReportAs a part of corporate social responsibility and on-going relief programme, Dhaka Bank Limited (DBL) has recently distributed 60 tonnes relief goods among 5,000 families of Araihazar thana in Narayanganj district.DBL former chairman ATM Hayatuzzaman Khan distributed the relief...

Financial turmoil could hurt Asia over six months

2007-08-21 00:00:00

SINGAPORE, Aug 20 (AFP): Asia could feel the impact of turbulence that rocked global markets over the next three to six months but the region's foundations remained strong, Singapore Prime Minister Lee Hsien Loong said. The region would be affected...

BoJ to inject $8.7b into banking system

2007-08-21 00:00:00

TOKYO, Aug 20 (AFP): Japan's central bank said today that it would inject 1.0 trillion yen (8.7 billion dollars) into the banking system as part of ongoing efforts to restore calm to financial markets. The Bank of Japan (BoJ) moved...

Asia-Pacific bears brunt of natural disasters

2007-08-21 00:00:00

SYDNEY, Aug 20 (AFP): Asia-Pacific countries accounted for 90 per cent of people affected by natural disasters around the world since 2000, the region's emergency management chiefs were told today. Climate change and population growth were likely to increase the...

Australia rushes to catch 'Indian express' on trade

2007-08-21 00:00:00

SYDNEY, Aug 20 (AFP): The Australian government has backed a plan to negotiate a free trade agreement with India, a move which would radically reshape relations with the South Asian power, a report said today. The conservative government of Prime...

SADC speeding up process of creating free trade zone

2007-08-21 00:00:00

LUANDA, Aug 20 (Xinhua): Greater efforts are being made to accelerate the process of establishing a free trade zone in the Southern African Development Community (SADC), Angola's official news agency ANGOP reported yesterday. Angolan Deputy Foreign Minister George Chicoty was...

Swiss economy could weather US financial storm

2007-08-21 00:00:00

GENEVA, Aug 20 (Xinhua): The financial market crisis in the United States is no threat to the Swiss economy, Switzerland's central bank governor said yesterday. The Swiss financial system is well placed to withstand the turbulence that has sent stock...

S Korea's trade terms worsen in Q2

2007-08-21 00:00:00

SEOUL, Aug 20 (Xinhua): South Korea's terms of trade worsened in the second quarter from three months earlier due to rising costs for crude oil imports, the central bank said today. According to the Bank of Korea (BoK), South Korea's...

Organised retail to require 0.5m trained manpower in India

2007-08-21 00:00:00

NEW DELHI, Aug 20 (PTI): Organised retailing, which is set to grow to a USD 24 billion industry by 2010, will require 5,00,000 trained manpower to run hypermarkets, super stores and wholesale cash and carry facilities in major Indian cities,...

EXIM Bank distributes relief materials

2007-08-21 00:00:00

FE ReportExport Import (EXIM) Bank of Bangladesh Ltd distributed relief materials among the flood-affected people of Munshiganj, Bogra, Rangpur and Gaibandha recently as part of its corporate social responsibility.Audit Committee Chairman of the bank AKM Nurul Fazal Bulbul distributed the...

Oil prices lower

2007-08-21 00:00:00

SINGAPORE, Aug 20 (AFP): Oil prices fell in Asian trade today as energy facilities in the United States appeared to be safe for the time being from the fury of Hurricane Dean, dealers said. New York's main contract, light sweet...

Yen sharply up against dollar in volatile trade

2007-08-21 00:00:00

HONG KONG, Aug 20 (AFP): Fears over the scale of the reverberating US sub-prime mortgage market left Asian currencies vulnerable to sharp swings, with the Japanese yen closing the week much firmer against the dollar but most other currencies down....

China begins construction of nuclear power station

2007-08-21 00:00:00

DALIAN, Aug 20 (CEIS): China Saturday began construction of the main body of a nuclear power station in Dalian, Liaoning province, the first nuclear power station in northeast China. The Hongyanhe nuclear power station, located in Donggang Township, is designed...

Indonesian, Japanese cos to build $2b refinery

2007-08-21 00:00:00

JAKARTA, Aug 20 (AFP): Indonesian energy companies Pertamina and Medco Energi Internasional along with Japan's Mitsubishi Corp are to begin building a liquefied natural gas refinery next year, the companies said today. Indonesia is energy-hungry Japan's biggest liquefied natural gas...

Bank Asia raises Tk 840m loan for power plant

2007-08-21 00:00:00

FE Report A syndicated loan signing ceremony was held at a city hotel recently concerning the Syndicate Financing of GBB Power Limited. Bank Asia Limited successfully raised Tk 840 million syndicated facility for GBB Power as the lead arranger of...

Prime Bank, UCBL, Rupali Bank to offer Western Union money transfer services

2007-08-21 00:00:00

FE ReportWestern Union has recently appointed three new agents - Prime Bank Limited, United Commercial Bank Limited (UCBL) and Rupali Bank - to offer its money transfer services across the country.Prime Bank and UCBL are private sector banks, and Rupali...

Pubali Bank holds workshop in Cox's Bazar

2007-08-21 00:00:00

FE ReportPubali Bank Ltd (PBL) held a two-day workshop for branch managers, regional managers and senior executives of the bank at a hotel at Cox's Bazar on August 17 and August 18 to motivate the officials in increasing the bank's...

Govt allocates Tk 1034200 for NGOs in B'baria

2007-08-21 00:00:00

Our CorrespondentBRAHMANBARIA, Aug 20: National Social Welfare Parishad organised as function for distribution of cheques for the grant money of 2006-2007 financial year for the non-government organisations (NGOs), registered with the Social Welfare Department(SWD). The grant money distribution function was...

Kids' Council takes off at British Airways HQ

2007-08-21 00:00:00

FE ReportBritish Airways (BA) marked its commitment to the clients of the future by hosting the inaugural meeting of the 'British Airways Kids' Council' at Heathrow recently.Ten children from across the world were flown to the BA headquarters to discuss...

KAFCO, Southeast Bank, Unilever donate for flood victims

2007-08-21 00:00:00

FE ReportKAFCO: KAFCO has contributed Tk 15 million (1.5 crore) to the Chief Adviser's Relief Fund.KAFCO Chairman Md Nurul Amin and Chief Executive Officer Md Qaiser Jamal handed over the cheque for the amount to Chief Adviser Fakhruddin Ahmed Saturday.KAFCO,...

Asian stocks soar on Wall Street

2007-08-21 00:00:00

HONG KONG, Aug 20 (Reuters): Asian stocks roared back Monday as investors jumped on board a global rally sparked by the US central bank's boldest move yet to try to ease credit fears. Across the region shares shot higher on...

Gulshan Ara joins Apollo Hospitals

2007-08-21 00:00:00

FE ReportGulshan Ara, one of the prominent consultants in Obstetrics and Gynaecology joined the Apollo Hospitals Dhaka recently.Gulshan Ara completed her MS (Gynae and Obs) and graduation (MBBS) from Dhaka Medical College under Dhaka University.She has also completed her MCPS...

Quddus re-elected Rupali Insurance Co chairman

2007-08-21 00:00:00

FE ReportMostafa Golant Quddus has been re-elected unanimously chairman of Rupali Insurance Company Limited at the company's 120th board meeting Monday.Bangladesh Garments Manufacturers and Exports Association (BGMEA) President Mostafa Golam Quddus is the chairman of Dragon Group, one of the...

Al-Arafah Islami Bank donates Tk 2.5m to CA's Relief Fund

2007-08-21 00:00:00

FE ReportAl-Arafah Islami Bank Limited has recently donated Tk 2.5 million (25 lakh) to the Chief Adviser's Relief Fund for the flood-affected people. Chairman of the bank Md Anower Hossain handed over a cheque for the amount to Chief Adviser...

Coats Bangladesh opts for 'mycitycell ZOOM'

2007-08-21 00:00:00

FE ReportCityCell and Coats Bangladesh Limited recently signed a corporate agreement between their respective companies. Coats Bangladesh is a member of Coats PLC, the United Kingdom, a global leader in sewing thread and needlecraft products.Coats Bangladesh Limited Manager (Corporate Affairs...

Hatil selects GP Business Solutions

2007-08-21 00:00:00

FE Report Grameenphone (GP) Limited has recently signed an agreement with Hatil Complex Limited (HCL) to provide complete communication facilities under its Business Solutions package.HCL Managing Director Selim H Rahman and GP Additional General Manager (Commercial Division) Promod Ranjan Karmaker...

IPO diary

2007-08-21 00:00:00

City General Insurance Company Limited Nature of Business: General Insurance Subscription Open: Aug 19 2007Subscription Close: Aug 23 2007 Offer Price (Tk.): 100.00 Market lot (Share): 50 Public Offer (Share): 900,000 Sponsors Portion (Share): 600.000 Private Placement (Share): Total Paid...