Third trade deal inked after failure of SAPTA, SAFTA
Signing of two agreements in the past- first one, South Asia Preferential Trade Arrangement (SAPTA) and the second one South Asia Free trade agreement (SAFTA) did not promote or increase inter-country trade among the member states of SAARC.
The failure o
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Peaking, rental power plants Govt needs Tk 50b in subsidy
The Awami League-led government will have to raise electricity prices substantially for consumers in the coming months or give around Tk 5,000 crore in subsidy a year, as it has so far approved agreements for installation of 15 fuel oil-based rental and p
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Private universities fail to fulfill requirement
None of country's 54 private universities fulfil all the criteria required for registration under the Private University Act. They lack their own campus, faculty members, library or laboratory facilities, according to educational experts, reports BSS. The
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US economy likely to grow 3.4pc
US economic growth probably slowed in the first quarter, data is expected to show on Friday, but resurgent consumer spending should offer evidence of a sustainable recovery.
The economy expanded at a 3.4 per cent annual rate in the first three months of
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Export figure back to green
The country's export sector seems to be moving again to the green zone as the Export Promotion Bureau on Tuesday reported a healthy year-on-year growth on the March export shipments.
More than 18 per cent growth in export shipments in March has also redu
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CRR, SLR raised to tame inflation
Bangladesh Bank has raised the cash reserve requirement (CRR) by 0.5 percentage points to 5.5 per cent for the commercial banks to curb inflationary pressure on the economy.
Under the new rules, the commercial banks will have to maintain 5.5 per cent CR
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Shoppers hand retailers solid spring
Americans gave retailers a respectable spring selling season, resulting in a slew of stores raising their earnings outlooks.
Though April shopping fell off from March's blistering pace, the full spring picture shows consumers more willing to buy higher-p
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EU, IMF agree $147b bailout for Greece
European finance ministers triggered a record 110 billion euro ($147b) bailout for debt-stricken Greece on Sunday after Athens committed itself to years of painful austerity.
After weeks of tough talk and procrastination due to fierce public opposition t
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Feds open criminal probe of Goldman
Stepping up the pressure on Goldman Sachs two days after its executives were grilled and publicly rebuked by lawmakers, the justice department has opened a criminal investigation of the Wall Street powerhouse over mortgage securities deals it arranged.
T
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Why the US Is Worse Off Than Greece
Little old Greece made news again this week following the announcement of a $145 billion rescue package for the country (courtesy of the EU and IMF). Although this money will see the country through its May 19 debt maturities, the bond market remains skep
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American Oligarchy
"Now, the Senate Republican leader, he paid a visit to Wall Street a week or two ago," said President Obama at a California fundraiser for Barbara Boxer in mid-April, putting on a mocking, homespun voice. "He took along the chairman of their campaign comm
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Reign of terror
Chhatra League, the students'' wing of the ruling Awani League, has let loose a reign of terror in the whole country. Whether it is retaining control over the institution where he/she is enrolled, or grabbing tenders of grabbing properties BCL has almost
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iPhone, Gizmodo, and moral clarity about crime
For the past couple of weeks, the tech world has been buzzing about the "outing" of a prototype of Apple's next-generation iPhone on a technology blog called Gizmodo.com.
Gizmodo got its hands on the device by paying $5,000 to a guy named Brian Hogan, w
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Letter To The Editor - Labour unrest
Fresh labour unrest affected production in 22 more readymade garment factories in a day while the industry has been facing difficulties surviving against power and gas crises, price hike of yarn, poor infrastructure, and low price offers from internationa
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Letter To The Editor - Poverty alleviation
Despite all odds, the proportion of the poor in the population of our country fell to 40 percent from 49 percent from 2000 to 2005. According to the World Bank and Bangladesh Bureau of Statistics (BBS) the proportion of those classes as very poor falling
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ICB mutual funds to be redeemed by 2011
The securities regulator has turned down a proposal of the Investment Corporation of Bangladesh (ICB) for allowing its eight close-ended mutual funds to trade in the stock market until 2017.
Back in December 2009, the Securities and Exchange Commission (
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SEC fines 4 cos
The Securities and Exchange Commission has decided to fine two investors and two companies more than Tk 7 crore for manipulating share prices by spreading rumours and breaching laws, officials said.
The decision was taken at a meeting of the SEC on Sunda
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HSBC opens new branch in Narayanganj
The Hongkong and Shanghai Banking Corporation Limited in Bangladesh has opened its 12th branch in Narayanganj.
The new branch of the bank is located at 50 SM Maleh Road, Tanbazar. The new branch will serve both personal and corporate banking customers wi
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IDLC Securities gets new MD
Md Saifuddin has recently joined as the managing director of IDLC Securities Limited, a fully owned subsidiary of IDLC Finance Limited.
IDLC Securities Limited is a corporate member of both Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limit
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France wants more control over ratings agencies
French economy minister Christine Lagarde said on Monday she wanted greater control over ratings agencies to ensure they followed 'ethical rules' in the wake of ratings cuts on Greek, Spanish and Portuguese debt.
Lagarde also told Le Monde newspaper that
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Trade ties with Bangkok to get stronger
Commerce Minister Faruk Khan has hoped that the friendly relations between Thailand and Bangladesh, as well as trade between the two countries, will be enhanced in the days ahead. "The friendly relationship between the two countries will be enhanced throu
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NBR to take steps to prevent VAT evasion
The national board of revenue would, in a desperate bid to enhance internal revenue collection, launch a shop to shop drive this month to prevent Value Added Tax evasion, said officials.
They said that the drive would continue until the end of June, when
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BB governor warns stern action against defaulters
The Bangladesh Bank governor, Atiur Rahman, on Sunday said he would neither promote nor tolerate the practice of waiving or writing off defaulted loans.
'The country's agricultural loan disbursement and also its repaying are increasing. Farmers are now c
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JB seeks Tk 500cr fund
The finance ministry has asked Janata Bank to provide necessary information regarding the amount of dividend it paid to the government and its financial position of last five years, sources in the ministry said.
The information has been sought in respons
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Overseas jobs sector continues to suffer
The country's overseas employment industry continued to suffer in April, witnessing a 25 per cent fall in January-April '10 period against corresponding period of last year, government statistics revealed.
Adding only 35,647 in April, total number of fre
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S Korea keen to invest in RMG sectors
South Korea has expressed a keen interest to invest in the country's RMG, shipbuilding, information technology and service sectors.
Newly appointed South Korean Ambassador to Dhaka Taiyoung Cho revealed the interest of his country's entrepreneurs when he
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StanChart South Asia executive visits Dhaka
Richa Khanduri, Managing Director - Head of Sales South Asia- Financial Markets, Standard Chartered is in Dhaka for a short visit.
During her stay in the capital, she will be meeting with regulators and key customers of the Bank, Standard Chartered offi
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RMG sector future bright: WB
After elimination of the quota system in 2005, the recent economic recession is reshaping the global apparel supply chain and importers' procurement strategies, which has had a considerable impact on Bangladesh, said the World Bank Bangladesh's garment in
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Citi, D.Net launch IT competition
The Citi Financial IT Case Competition (CFICC), supported by Citi Foundation, the philanthropic arm of Citi and organized by Citibank, N.A. Bangladesh and D.Net (Development Research Network) launched the first round of 2nd CFICC Wednesday.
The first ro
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Govt to open 7 labour wings in 6 countries
The government will open seven more new labour wings at missions in six countries to provide more facilities to the Bangladeshi expatriate workers in those countries, official sources said.
The establishment ministry has approved a proposal of the minist
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Apple iPad reaches 1 million
Apple Inc has sold 1 million iPads since their April 3 launch, as the company passed that sales milestone faster than many analysts had expected.
Apple said on Monday that the 9.7-inch touchscreen iPad - a new category of device that combines the mobilit
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GP posts 8pc revenue growth
Mobile operator, Grameenphone Ltd, has reported 8 per cent growth in revenues for the first quarter of 2010 compared to the same period last year.
The company earned Tk 1,700 crore in revenue in January-March this year, which is Tk 127 crore higher than
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Lenders agree to Dubai World's debt plan
Most Dubai World creditors have agreed to the terms for restructuring the troubled conglomerate's debts, a state-owned daily said Tuesday.
'Most of the banks have agreed on the offer after studying the size of the obligations remaining on the group and t
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ASEAN leading destination of US investment
The 10-nation regional block of Association of South East Asian Nation, and not China and India, is the leading destination of America's foreign direct investment, a top US trade official has said.
'I will bet if you were asked whether ASEAN, China, or I
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Citycell Power SMS service launched
Mobile operator, Citycell, on Tuesday launched a web based SMS service, PowerSMS, which allows individuals and enterprises to send bulk SMS to a group of people.
The service will allow clients to send SMS to Citycell numbers and other operators' numbers,
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Robi signs MoU with ACI
Mobile phone operator Robi and ACI Agribusiness have agreed to collaborate to promote their products and services for the benefit of their subscribers.
A memorandum of understanding was signed between the two companies in this regard in the city recently
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Huawei seeks India meeting over telecom ban
Chinese telecoms maker Huawei Technologies is planning to meeting senior Indian officials to persuade them its equipment poses no security threat, a report said Tuesday,
The move comes after New Delhi last week blocked sales between Indian mobile phone o
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Holcim posts $63m loss in Q1
Holcim, one of the world's biggest cement-maker, posted on Tuesday a first quarter net loss and said that heavy snowfall and a weak economy had restrained growth in the construction industry across Europe and North America.
Net loss reached 68 million fr
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8 Helpful Ways To Deal With Critical People
Naturally, critical people aren't the first people you'd think of hanging out with. While you can try to get out of their way, you are bound to run into one or two of them in school or at work. Here are my 8 handy ways to handle them:
1. Don't Take It Pe
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Interview Coach Interview Tip: "Tell Me About Yourself"
"Tell me about yourself" is the most frequently asked interview question. It is also the most challenging because most candidates don't know where to start when it comes to this broad, open-ended question. Before you use this question to talk about your
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EWU Helps Ailing Student
A student of East West University, Md. Anisur Rahman (Tanin) is suffering from kidney disease. One of his kidneys failed and the other one is also in a weak condition. A large sum of money is required to transplant his kidneys which his parents could not
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IUB ICCCAD Marks Its Establishment
To mark the establishment of 'International Centre for Climate Change and Development (ICCCAD)' of Independent University, Bangladesh (IUB) a program was arranged at a local hotel in Dhaka on 18th April 2010. Prof. Nazrul Islam, Chairman, University Grant
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AIUB Students Tour BATA Factory
The Department of Operations Management of the Faculty of Business Administration jointly with the Office of Placement and Alumni (OPA) of AIUB organized a visit on April 22, 2010, for its students to Bata Factory in Dhamrai.
The students were accompanie
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Blood Donation Program At EU
A blood donation program was jointly organized by Eastern University and Shandhani at main campus on 28 April 2010 on the occasion of 7th Foundation Day of Eastern University. Prof. Dr. Rahim B. Talukdar, the Vice Chancellor of Eastern University inaugura
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GMG Airlines unveils new logo
GMG Airlines, the first and largest private airline in Bangladesh, unveiled its new logo and inducted a Boeing 767-300ER in its fleet, reflecting the company's true spirits and renewed endeavours to rule the skies through expanding wings, and providing wa
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Govt gets MPs’ support to buy power without tender
The parliamentary standing committee of the ministry of power and energy has endorsed government plan to procure power without tender to ensure quick supply of power to the national grid.
"People want smooth supply of electricity at any cost. They are no
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Beijing unveils limits to control housing market
The Chinese capital Beijing has issued rules limiting families to one new apartment purchase as authorities try to rein in rampant property speculation and soaring prices, state media said Friday.
'For the time being, one family can buy only one new ho
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Feds let BP avoid filing blowout plan for Gulf rig
Petrochemical giant BP didn't file a plan to specifically handle a major oil spill from an uncontrolled blowout at its Deepwater Horizon project because the federal agency that regulates offshore rigs changed its rules two years ago to exempt certain proj
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Farmers get low price for boro
The boro farmers could not be happy due to low price of their newly harvested paddy than that of the price fixed by the government everywhere in the country's northwestern region.
According to concern sources, a section of businessmen syndicate has beco
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Cambodia, Japanese firm sign oil study deals
Cambodia and a Japanese energy firm on Tuesday signed deals to look for oil and natural gas in the basin of Southeast Asia's largest freshwater lake, despite environmental concerns.
Deputy Prime Minister Sok An initialled a memorandum of understanding to
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BPC officials embezzle money
Officials and employees of Petrobangla and subsidiary companies of Bangladesh Petroleum Corporation (BPC) have allegedly embezzled about Tk 43 crore on 41 different accounts from 1999 to 2000.
The Commercial Audit Directorate under the Comptroller and Au
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ECNEC okays 10 projects
The Executive Committee on the National Economic Council (ECNEC) approved 10 development projects involving Tk 1853 crore including extension of Madani Avenue in Baridhara of the city to ease traffic jam.
Of the total project costs, Tk 1483 crore will co
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Bolivia nationalises power companies
Bolivian president Evo Morales has nationalised British, French, and Bolivian-run electric power companies, the president of state power company ENDE said Saturday.
The nationalised companies were Corani, controlled by a subsidiary of France's GDF Suez;
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5 pvt PSTN firms may lose licence
The Bangladesh Telecommunication Regulatory Commission (BTRC) is likely to cancel the licences of the five private telecommunications firms for violation of the telecommunications rules. They were alleged to be involved illegal VoIP (Voice over Internet P
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SEC permits 7 cos to raise paid-up capital
Securities and Exchange Commission (SEC) has given go-ahead to seven companies to raise their paid-up capital under private placement in accordance with some conditions set by the regulator.
The SEC said this after taking a decision in this regard in its
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Shanghai expects tourism boom
China put in its best endeavours to make its financial capital Shanghai as global city and impress 70 million visitors at the Shanghai Expo-2010, the six-month extravaganza that began in the city on Friday.
Besides Chinese president Hu Jintao, world lead
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Plastic sector in dire strait for power crisis
The country's plastic industry is now facing serious setbacks due to power crisis, said the Bangladesh Plastic Goods Manufacturers and Exporters Association president, Ferdous Wahed.
He said power was a big factor in the plastic industry - a heat consumi
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Germany reveals 40-billion-euro tax hole
Germany forecast a massive fiscal hole on Thursday, highlighting the parlous state of its public finances and giving Chancellor Angela Merkel precious little room to deliver on promised tax cuts.
Figures from the finance ministry showed that tax receipts
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Samsung profit surges sixfold
South Korea's Samsung Electronics said Friday its first-quarter net profit surged more than six-fold from a year earlier to 3.99 trillion won ($3.6b) amid stronger demand and higher memory chip prices.
Samsung, the world's largest maker of computer memor
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European debt woes could hurt U.S., Fed says
The Federal Reserve is closely monitoring financial turbulence in Europe as it could have repercussions for the United States and its markets, policymakers at the central bank said on Thursday.
James Bullard, president of the St. Louis Fed, argued the Eu
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Govt may introduce gain tax in capital market
The government in its bid to expand the tax net and increase revenue earnings is actively considering reintroduction of gain tax in the country's capital market from the next fiscal year, sources in the finance ministry said on Monday.
The gain tax from
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Remittance posts 16.72pc growth
The country's inward remittance recorded a 16.72 per cent growth during the first 10 months of the current fiscal year compared to the similar period of last fiscal year, said an official of the Bangladesh Bank.
The remittance inflow in June 2009-April 2
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Zillur asks Croatian investors to invest in Bagladesh
President Zillur Rahman Monday urged the Croatian investors to invest in Bangladesh.
The president made the call when newly-appointed Croatian ambassador to Bangladesh Boris Velic presented his credentials to the president at Bangabhaban.
During the mee
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Faruk blames market trend, collusion for yarn price hike
The commerce minister Faruk Khan has blamed the international market trend and collusion of businesses for price hike of yarn.
He said the local businessmen were exploiting the hike in price of yarn in international market to make windfall profits.
Faru
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