Pahela Baishakh celebrated
Pahela Baishakh, the first day of the Bangla new year, was celebrated across the country on Wednesday with a renewed commitment to building a harmonious and non-communal society and welcoming the new year 1417 amid traditional festivities and huge enthusi
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N-plant deal with Russia approved
The government has agreed on a draft deal on establishing a nuclear power plant with Russia, reports bdnews24.com.
The decision was made at a cabinet meeting on Monday with prime minister Sheikh Hasina in the chair. "The cabinet approved the draft nucle
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GDP to grow at 5.5pc in FY10: ADB
The Asian Development Bank (ADB) has forecast a 5.5 per cent gross domestic product (GDP) growth for Bangladesh in the current fiscal year, down from the official target of 6.0 per cent.
"The slowdown is partly due to the effects of depressed external de
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IMF revises GDP growth downward
The International Monetary Fund (IMF) has projected Bangladesh's GDP (gross domestic product) growth at 5.0 per cent for the current fiscal year against the government's anticipated rate of 6.0 per cent.
"The IMF's outlook in the fiscal year (FY) 10 is b
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JS body to make fiscal proposals
The parliamentary standing committee on finance ministry, for the first time, is going to make a few fiscal proposals for inclusion in the budget for the next (2010-11) fiscal year.
The standing committee members have so far completed discussions with a
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Muhith under wrath for poor performance
Senior Awami League leaders came down hard on the Finance minister for slow progress of projects at a pre-budget discussion on Thursday.
The talks at the Ministry between Finance Minister AMA Muhith and representatives of parliamentary standing committee
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Moody's gives Bangladesh Ba3 rating
Moody's Investors Service has assigned Bangladesh Ba3 rating meaning macroeconomic fundamentals of the country is better and it has less chance to face severe stress on creditworthiness.
The rating is more or less similar to the rating of BB- assigned by
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2pc GDP lost due to power crisis
The Bangladesh economy has been growing at about six percent annually over the last few years. Overcoming all hurdles, the growth of the manufacturing sector even reached the double digit. The country is now poised for a take-off stage, with manufacturing
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Systemic weakness in govt decision making debars FDI
A visiting economist from Boston University has identified delays in the government's decision making process as the greatest impediment to attracting foreign investment in Bangladesh, despite its low-cost labour being a big asset.
"Bangladesh has many p
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Renminbi and reality
The exchange rate of the renminbi has once again become a target of the United States Congress. China-bashing, it seems, is back in fashion in America.
But this round of China-bashing appears stranger than the last one. When Congress pressed China for a
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LNG terminal at Bay of Bengal
ACCORDING to recent press reports, a US-based company has apprised the government that a floating terminal for emergency import of liquefied natural gas could be installed in the Bay of Bengal within 14 months. The US-based company executives made a prese
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Tapping the potential
Relations between China and Latin America have seen a remarkable "leap forward" since the beginning of the century, helping to bolster multilateral international politics. President Hu Jintao's visit to Brazil indicates that the Chinese government is keen
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Ahead of the Bell: Trade Deficit
The U.S. trade deficit likely widened slightly in February as imports were driven higher by an increase in the foreign oil bill. Exports are expected to be up as well as an improving global economy boosts demand for American manufactured goods, helping to
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The End of Wall Street?
The day after the Federal Reserve permitted both Goldman Sachs and Morgan Stanley to become bank holding companies, in September 2008, The Wall Street Journal editorialized that the end of Wall Street had arrived. "[I]n a single week, the era of the indep
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Bangladesh needs branding
Dr. Ehsan Imdad has worked to help many migrating Bangladeshis in the U.S. for over 20 years through the Bangladesh Association of NY (BANY) and Bangladesh Shangshod among many other affiliated organizations. He is also a marketing professional with over
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Separate ministry for RMG sector
Presently, the problems of the RMG sector are looked into and responded, if any, by the Ministry of Industries and the Ministry of Textiles. The RMG industries are but only a part of the concern of these two ministries. Understandably, the RMG sector in t
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ADB sees 'robust recovery' for developing Asia
Developing Asia's economies were on track for a 'robust recovery', the Asian Development Bank said Tuesday, with India and China working as the engines of growth.
However, it warned that the region could still be at risk if stimulus measures introduced t
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NBL signs deal with Flora Telecom
National Bank has recently signed an agreement in Dhaka with Flora Telecom Limited under which, Flora Telecom will implement the award-winning TEMENOS T24 (T24) core banking software along with HP Servers, Storage solutions as well as construction of DC &
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28th anniversary of AB Bank
AB Bank, the first private sector commercial bank of the country, celebrated its 28th founding anniversary on Sunday.
All of its 77 domestic branches drew up simultaneous programmes to observe the day in a befitting manner. Qur'an Khwani and prayer sessi
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Experts ask govt to impose tax on stock capital gain
Economists at a pre-budget discussion Monday advised the finance minister to impose tax on capital gain of share price and reform the stock market to bring it to international standard.
They also recommended that the minister should give maximum importan
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LankaBangla Investments to be launched soon
LankaBangla Finance Limited, a leading non-banking financial institution (NBFI) is going to strengthen its businesses in certain areas including stock market, home loan, credit card, SME and primary dealership (PD).
"Our services in the stock market and
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HSBC opens offices in two EPZs
Hongkong and Shanghai Banking Corporation (HSBC) opened two more Business Development Offices (BDO) in Ishwardi and Karnaphuly Export Processing Zones Monday.
With the latest addition, the HSBC is now present in 7 EPZs of the country.
Feroz Rahim - Grou
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Pubali Bank holds managers' confce
Pubali Bank Ltd held the 'Annual Managers Conference-2010' at a hotel in Cox's Bazar recently.
All the 386 branch managers, regional managers and the senior executives of the head office attended the two-day conference aimed at motivating them to increa
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Bashundhara to get Tk 120cr from 8 banks
The Bashundhara Industrial Complex Limited (BICL) has entered an agreement with Bank Asia as the lead arranger and seven of its consortium member banks for establishing a giant cement mill at a cost of Tk 120 crore.
The cement mill with installed capacit
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China's forex reserves hit record $2.447 trillion
China's foreign exchange reserves surged to a record $2.447 trillion at the end of March, the central bank said on Monday.
The reserves, already the world's largest, grew 25.25 per cent from $1.9537 trillion a year ago, the People's Bank of China said on
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Khulna Power makes debut Sunday
Khulna Power Company Limited (KPCL), the country's first independent power producer in private sector, will make debut on DSE Sunday under direct listing regulations.
The company will sell more than 52.15 million shares to the general investors and its
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Tata to set up footwear, bicycle plants
Top Indian conglomerate Tata Sunday signed a deal with its Bangladeshi partner Nitol-Niloy Group to set up footwear and bicycle plants here, as investors from New Delhi see Dhaka as a top destination for investment.
O K Kaul, executive director of Tata
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Samsung launches new netbooks
A leader in the world's consumer electronics and IT market, Samsung has launched three new models in its award-winning range of netbooks and notebooks.
The new models are Samsung N210, N148 and R428. Among them, Samsung N210 is capable of providing up t
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Banking execs skeptical on mortgage reductions
Top banking industry executives are skeptical about helping troubled borrowers by forgiving a portion of their debt.
The executives told lawmakers on Tuesday they are reducing the amount that troubled borrowers owe on their home loans only in limited ca
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Entrepreneurship driving force of economy
A seminar titled "Entrepreneurship Development in Bangladesh" was held at the ICAB Auditorium in the city recently.
Chaired by Matiul Islam, a senior Chartered Accountant of the country and Chairman of Industrial & Infrastructure Development Finance Comp
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3.6m new subscribers of Banglalink
Mobile operator Banglalink added 36 lakh subscribers in 2009.
The total subscriber base of Banglalink stood at 1.39 crore at the end of 2009, which is a 34.3-per cent increase from the previous year, said a news release.
Banglalink's market share at the
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42nd US bank failure in '10
Regulators on Friday shut down a bank in South Carolina, marking 42 bank failures in the U.S. so far this year amid mounting loan defaults, especially in commercial real estate.
The Federal Deposit Insurance Corp. took over Beach First National Bank, ba
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Infosys profit dips
Indian outsourcing giant Infosys Technologies reported Tuesday quarterly net profit slipped, but forecast better times ahead despite a rising rupee that could eat into earnings.
Infosys, the country's second-largest outsourcing exporter by revenues, said
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World Bank support hits record $100 billion
The World Bank said Wednesday that its financial commitments since July 2008, just before the global financial crisis spiked, have reached a record 100 billion dollars.
The commitments include loans, subsidies, grants, private-sector investments and fin
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BTMA protests govt move to import yarn
Textile millers protested the government's move to release commercial yarn imported from India through land ports, saying the step would affect the local industry adversely.
"The textile ministry has hurriedly taken up steps to import yarn from India on
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Intra IUB Independence Cup Cricket 2010 Holds
The Whim P-7 became champion by beating Only for Friends Club by 46 runs in the final of Intra IUB Independence Cup Cricket tournament held from 1-3 April 2010. The Division of Student's Activities (DOSA) of Independent University, Bangladesh organized
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EWU MBA Club Publishes Wall Magazine
The EWU MBA Club published a wall magazine on 7 April 2010 at 5:30 p.m. Jalaluddin Ahmed, President of the Board of Directors, EWU inaugurated the ceremony. Professor Dr. Nazrul Islam, Dean, Faculty of Business and Economics and Coordinator, Graduate Stud
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NUB Organizes Seminar On Textile Education
Northern University Bangladesh organized a week-long education fair at Banani Campus on April 3, 2010 to disseminate higher study opportunities at NUB including newly UGC approved B.Sc in Textile Engineering and B.Sc. in Electrical & Electronics Engineeri
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Two Hiring Personalities And How To Deal With Them
One
Neurotic Nick
Nick is a guy who asserts himself and his opinions at work because he is an emotional basket case. Insisting that every candidate fit an exact profile saves Nick from having to exercise judgment when someone comes along who may bre
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12 Steps To Power Your Memory
Here, then, are 12 concrete steps you can take to remember particular facts and improve your general capacity to retain what you learn. Note that only the last step is one you can take when you're actually trying to remember. All the rest have to do with
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Pvt sector urges for PPP to fight power crisis
In an effort to cement ties between the public and private sectors, businessmen urged the government to devise a fast-track approach to facilitate their way to participate along with the authorities in the fight against the nagging power crisis.
Investme
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Honda to release electric scooters from Dec
The green fad in Japan is expanding from cars to bikes with Honda's zero-emission super-quiet electric EV-neo scooter.
The EV-neo, shown Tuesday at Honda Motor Co's research facility in this Tokyo suburb, zipped around emitting just a calm whirring sound
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Toyota conducts safety tests on all SUV models
Toyota announced safety tests on all its sport-utility vehicle models in a sweeping effort Thursday to reassure buyers after Consumer Reports warned against buying the 2010 Lexus GX 460 in the automaker's latest public relations debacle.
Toyota Motor Co
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Petrobangla, Chevron sign MoU
Petrobangla signed a memorandum of understanding (MoU) with US company Chevron to give 'controversial' 73 square kilometres of additional area adjoining to Jalalabad gas field (JGF) under Block 13 for exploration of gas.
The area was relinquished by ano
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China leads East Asia out of crisis: World Bank
The World Bank said Wednesday that China's growing economy had helped developing countries in East Asia recover from the global crisis, but warned against exiting pro-growth policies too early.
"Largely thanks to China, the region's output, exports and
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World oil demand to hit record high this year: IEA
Global oil demand will hit a record high this year, the International Energy Agency (IEA) said on Tuesday, revising up consumption estimates as the world economy recovers from recession.
The Paris-based adviser to industrialized economies raised its for
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World oil demand to hit record high this year: IEA
Global oil demand will hit a record high this year, the International Energy Agency (IEA) said on Tuesday, revising up consumption estimates as the world economy recovers from recession.
The Paris-based adviser to industrialized economies raised its for
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Securing reliable energy a major challenge
Securing reliable energy for a rapidly growing population and industry is a major challenge for Bangladesh as it faces the supply shortage in gas and power, Danish Development Minister Soren Pind said Sunday.
"Lack of energy and power prevents new indust
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OPEC had first big drop in output in a year
Recovery in the world's biggest economies could be jeopardized if crude oil prices stay over $80 per barrel, the International Energy Agency said Tuesday.
The IEA also reported that OPEC posted the first "significant decline" in output in March in more
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Mega-plan unveiled to tackle utilities crisis
Prime Minister Sheikh Hasina has said her government has undertaken a 'mega-plan' to ensure adequate water supply, apart from power generation not only for inhabitants in Dhaka city, but also across the country.
She said this on Thursday while addressing
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Dhaka, Delhi working on removal of tariff, NTB
Bangladesh and India are working on removing tariff and non-tariff barriers as soon as possible to take trade relations between the two neighbours to a new height, Commerce Minister Faruk Khan said Monday.
"Once the barriers are removed and infrastructur
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Indian economy set to accelerate in 2010: ADB
India's economic rebound from the global financial crisis will gain pace in 2010, but inflationary pressures will require special attention, the Asian Development Bank (ADB) said Tuesday.
India's economy will grow by 8.2 percent in 2010, the Manila-base
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e-GP by 2011 to make public procurement process dynamic
The government will introduce e-government procurement (e-GP) system by 2011 to make the public procurement process more dynamic and modern in the country.
The central procurement technical unit (CPTU) of implementation monitoring and evaluation departme
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IMF assures Pakistan of next loan tranche
The International Monetary Fund will approve the next tranche of a 11.35 billion-dollar loan to Pakistan in May, the prime minister's office said Wednesday.
In a meeting with Pakistani Prime Minister Yousuf Raza Gilani late Tuesday in Washington IMF off
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Russia looking to join WTO at year end: minister
Russia is looking to join the World Trade Organization by the end of the year, when it would agree to lower its customs duties, Deputy Prime Minister Igor Shuvalov said Wednesday.
Shuvalov, on a visit to Brussels to meet members of the European Commissi
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Sharp to join 3D TV battle with advanced display
Japan's Sharp Corp said it would begin selling 3D-capable LCD TVs in Japan this summer, the latest consumer electronics maker to enter the market for what is expected to be the industry's next growth driver.
The maker of Aquos brand flat TVs plans to lau
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MCCI for successful Indo-Bangla trade
Bangladesh and India should utilise every available opportunity to promote two-way trade, as both the countries are natural markets to each other, Dhaka-based Metropolitan Chamber of Commerce and Industry (MCCI) has said.
"With the path-breaking and his
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Time to retire term 'Third World'
The head of the World Bank says it is time to stop using the term "Third World" to refer to developing countries and recognize they are an essential part of a new, fast evolving international economy.
Robert Zoellick said the global economic crisis of 2
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Lafarge gets Indian SC nod for mining
The Indian Supreme Court Monday asked the Centre to consider French cement company Lafarge's application for granting environmental and forest clearance and also look into the conditions proposed by Attorney General GE Vahanavati for lifting ban on mining
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ECNEC okay eight projects
The Executive Committee of National Economic Council (ECNEC) on Tuesday approved eight projects involving about Taka 1,251 crore.
The approval was given at a meeting of the ECNEC held at the Shar-e- Banglanagar NEC conference room with ECNEC Chairperson
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Global IT spending expected to rise 5.3pc in 2010
Global IT spending will increase 5.3 per cent this year to $3.39 trillion, boosted by strong consumer demand for PCs and a weakening US dollar, research firm Gartner said on Monday.
'Following strong fourth-quarter sales, an unseasonably robust hardware
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