corporatewatch

Ibn Sina: Md Harun Ar Rashid, one of the sponsors of the company, has reported that he has completed his sale of 2,250 shares of the company at the prevailing market price through stock exchange as announced earlier.Eastland Insurance: Md...

GE feeling the squeeze in Asia

FT Syndication ServicePARIS: General Electric, the world's largest industrial group, is starting to feel the ripple effects from the global financial crisis in its Chinese and Indian operations.Nani Beccalli, head of GE International, forecast economic growth would slow in the...

Africa pioneers in private equity initiative

FT Syndication ServiceLondon: Two pioneers of fund management in Africa have gathered investors from the US and the Gulf to back the first private equity venture focusing on African countries emerging from conflict.Development Partners International (DPI) launches at a time...

Veteran investor hits at rock star debt drives

Miles Morland, a veteran investor in African stock markets, has a long-standing grievance with non-governmental organisations (NGOs) and rock stars who campaign for debt relief and aid on the continent.However well-intentioned, he says, they have helped dissuade investment in Africa...

Country's postal service

The Bangladesh Post Office (BPO), a public sector service-oriented entity, is financially broke.The BPO has recently hit the media headline following its failure to pay the dues to overseas mail operators and carriers and consequent suspension of airlifting of mails...

Taxmen detect evasion thru' universal self-assessment

Tax officials have detected abuse of the newly introduced 'universal self-assessment' by some of the large taxpayers, who have submitted tax returns showing virtually no taxable income this year. But the same assesses paid substantial amount of tax last year.During...

sports digest

contingencyplans for Iraq banSYDNEY, May 27: Australia's football federation says it is making contingency plans in case Sunday's World Cup qualifier against Iraq does not go ahead in Brisbane. The game is in jeopardy after world governing body FIFA said...

Home sales, more bad news

New-home sales are down 8.5 per cent from February and the months' supply of new-homes rose to 11 months, a record-high, NAHB chief economist David Seiders told the several hundred audience members in attendance at the National Association of Home...

City events

C'ship begins FridayThe 2nd National Roller Skating Championship, organised by Bangladesh Roller Skating Federation, begins Friday at the Bangabandhu National Stadium in the city. Over 150 players of 35 clubs, split into six groups, will take part in the 19...

Prospects for reaching a political consensus

THE caretaker government has laid emphasis on drawing out a charter for national consensus through political dialogue. Although there is confusion about the outcome of the ongoing dialogue in the context of possible absence of two major political parties, discourse...

Trading of Rupali, ICB Islamic Bank shares to be delayed

Resumption of share trading of Rupali Bank and ICB Islamic Bank, formerly known as Oriental Bank, will take some more time due to procedural reasons, sources said.The latest offers to buy Rupali Bank Limited by two of the world's richest...

What's so terrible about making money?

One thing that has always baffled me is why certain people hate capitalism so much. They really are missing something.Ever since I was 18 and co-founded a business by accident, I knew that being an entrepreneur was the most fun...

East and West must resist the siren call of protectionism

SINCE mid-March equity markets have been driven by cheery folk who can see their way through the murk of today's financial trauma to the sunlit uplands beyond. One of the more powerful props to their optimism is a belief that...

Law and order-a priority task for government

The law and order situation has been deteriorating at a rapid pace across the country, particularly in Dhaka city and its adjoining areas.The extremist political elements who are engaged more in extortion and robberies than preaching their Marxist ideology have...

corporatewatch

Shahed Securities Ltd, DSE member No. 123, has withdrawn one of its authorised representatives, Md Iqbal Hossain with immediate effect.GMF Securities Ltd, DSE member No. 186, has withdrawn one of its authorised representatives, Aziz Uddin Ahmed with immediate effect.SES Company...

21 banks raise interest rates on deposits

The country's banking sector continued to maintain an upward trend in interest rates on deposits in the current month while the lending rates remained almost unchanged, officials said.At least 21 commercial banks out of 48 have increased their interest rates...

The causes and implications of the beleaguered US dollar

SINCE the start of 2002, the US dollar has fallen to a new record low against the euro, deepening a six-year decline in which it has fallen more than 40 per cent against the European currency, and 25 per cent...

Restoring the pride of agriculture

CLIMATE change is setting to trigger cyclones, droughts, heavy rains and floods in unpredicted places at unpredicted times round the world. Recently Myanmar has been the victim of climate change. This in turn keeps affecting food production. Consequently there is...

sports digest

two-year banMarlon Samuels' lawyers, Churchill Neita and Delano Harrison, have indicated that they will press for a judicial review against the two-year ban imposed on the batsman by the West Indies Cricket Board. On May 9, a disciplinary committee deemed...

Rural poverty and underdevelopment

THERE is pressing need for significant transfer of resources to rural areas that have comparatively higher concentration of people. About 80 per cent of Bangladeshis have a rural existence and the majority of them remain below the poverty line. Besides,...

Govt to relax laws allowing taller building on small land

The government is set to relax the Building Construction Ordinance-2007 allowing the realtors to build taller buildings on smaller land, officials said Sunday.Several rules in the ordinance would be amended within days, raising the Floor Area Ratio (FAR), which currently...

For further increasing remittance flows

THE remittance flows can be increased by an assortment of policies in different sectors, and not only by setting up remittance houses abroad. While it has been a useful step, other policies must be pursued for augmenting the remittance flows....

news digest

double budget by 2020VIENNA, May 24: The International Atomic Energy Agency (IAEA) needs to double its budget by 2020 if it is to do its job properly, according to the findings of an expert study released Friday. The report deplored...

Merger pace slows to allow big business into the ring

CORPORATE acquirers are making rich offers for big-name assets in spite of a lack of competition from private equity bidders.This indicates that corporate dealmaking is picking up not just because buy-out investors have stopped inflating asset values, but because the...

Starwood's conditional offer to manage Dhaka Sheraton

Starwood Hotels and Resorts Worldwide, one of the top global hotel chains, has assented to manage the state-owned Dhaka Sheraton Hotel for another term on condition of its complete renovation, a senior official said.In a recent letter to the state-controlled...

MBA students swap integrity for plagiarism

A professor at a well-known business school was recently grading papers for a required ethics course. In two of the papers he saw obvious signs of plagiarism. Students were not required to put their names on their papers, just a...

Improving English language proficiency of rural students

NOW-A-DAYS learning of English language helps one manage good employment. Unfortunately, students in rural areas in Bangladesh are lagging behind in their proficiency of the international language. It is time we acted upon on this because on this depends the...

Yahoo offers geographic data on Web sites

Yahoo is letting outside Web sites use information from its own catalog of geographic information, thus allowing programmers to employ the Yahoo data and services into their own applications.The company now provides an interface to the data buff at Flickr,...

Income inequality seen as the great divide

FT Syndication ServicePARIS: Public opinion across Europe, Asia and the US is strikingly consistent in considering that the gap between rich and poor is too wide and that the wealthy should pay more taxes.Income inequality has emerged as a highly...

Motivating students for world-class higher education

IN this global village, it has been easier for Bangladeshi students to obtain higher education from reputed foreign universities. The more academic qualification one will have, the more one is likely to succeed in life. It is time we motivated...