No new policy initiative in next budget
The government will include no new policy initiative in the next budget to be unveiled on June 10, rather pursue those taken under the budget of the current fiscal year, Finance Minister Abul Maal Abdul Muhith told reporters at his ministry Tuesday.
"The
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Govt under pressure to limit sale of savings instruments
A government committee has strongly recommended imposition of a ban on automatic renewal of savings instruments, introduction of national identity for buyers and reduction of the current interest rates and cut the maximum ceiling of the savings tools that
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Govt to provide fund for ETP in Savar
State Minister for Environment and Forests Hasan Mahmud said the government would finance the construction of the central effluent treatment plant (ETP) for the newly established tannery village in Savar.
"If construction of the ETP for the tannery indus
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Obama scolds Wall St for resisting reform
President Barack Obama scolded Wall Street on Thursday for its "furious efforts" to fight tighter regulation, saying the United States was doomed to another financial crisis if reforms were not implemented
With confidence growing at the White House that
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ADB to increase assistance to $1.1b a year
Asian Development Bank (ADB) will double its assistance to $1.1 billion a year for 2011-2013 to help Bangladesh tackle the power, gas and water crises.
In a statement, ADB said yesterday it had provided around $600 million in assistance to Bangladesh a y
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Rice monopoly threat to food security
The government has decided to procure boro (rice and paddy) from May 1 to meet 12 lakh tonnes procurement target for the season. The procurement would continue till August 30. The authority is hopeful that this time the procurement target would be achieve
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Govt incurs losses for Warid, Airtel deal
The parliamentary standing committee on the planning ministry has asked the Bangladesh Telecommunication Regulatory Commission to submit a report on how 70 per cent of the shares of mobile operator Warid had been sold to India's Bharti Airtel only for Tk
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Tax on capital gain from stocks opposed
Stock exchange leaders have proposed framing of guidelines to bring undisclosed money in the capital market, consider advance tax on dividend as final settlement, not to impose tax on capital gain and to avoid fiscal measures affecting small investors.
T
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BNP fears rigging by AL
Sporadic violence marked the ending of formal campaigning in the Bhola-3 constituency which fell vacant after a Supreme Court verdict.
The Election Commission has barred any kind of formal campaigning after midnight on Thursday in accordance with elector
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Tackle power crisis or face movement
At least seven activists of the Bangladesh Nationalist Party were injured in an attack allegedly by the ruling Awami League's men when the main opposition party was staging demonstrations in the city demanding uninterrupted supply of power, water and gas.
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Break Up the Banks
A fight is brewing in Washington -- or, at the least, it ought to be brewing -- over whether to put limits on the size of financial entities in order that none becomes "too big to fail" in a future financial crisis.
The big banks that got federal bailou
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The World's Most Investor-Friendly Companies
It could be the single-most important factor when sizing up a potential investment. After all, if your target company doesn't disclose key data on market share, growth strategies, or product volume, how can you accurately value its shares?
Fortunately, t
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Ratings and FDI
Bangladesh has achieved back-to-back good ratings from Standard and Poor's and Moody's but now everybody is asking will it help the country to get coveted foreign investment. The answer is no.
Rating may be necessary but it is not the sufficient conditio
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There Is No Gold Bubble
Gold has certainly received a lot more attention from investors since the beginning of 2009. Last Wednesday, with gold near its high for 2010, precious metals consultancy GFMS said in its annual report that the market "has moved out of kilter with its und
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Ford's Plan for Global Domination
Want a sign that Ford will be able to sustain its earnings growth for a while? I've seen several lately -- they keep showing up in my news feed, with the word "China" attached.
Ford's recent increases in U.S. market share are welcome signs for shareholde
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Letter To The Editor - Market research for improved marketing
Market studies or research to establish demand pattern of products are essential preconditions for the establishment of industries. Private sector can initiate their own such research. The government can also play a valuable role in this regard by collect
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IDLC okays 100pc stock, 10pc cash dividends
IDLC Finance Limited has approved a 100 per cent stock (one share for every one share) and 10 per cent cash dividends for its shareholders for the year 2009.
The approval was given at the 25th annual general meeting (AGM) of the company at Bangabandhu In
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BB caps lending to tobacco farms
The central bank has asked the commercial banks to stop financing the tobacco farms to discourage cultivation of the 'harmful' crop across the country.
"We've taken the measure to ensure food security as well as protect environment through discouraging
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HSBC expands ATM network
The Hongkong and Shanghai Banking Corporation (HSBC) Limited in Bangladesh has expanded its ATM network in Dhaka with the opening of two new ATMs at Banani and on Satmasjid Road at Dhanmondi.
Md Shafquat Hossain, head of Personal Financial Services of H
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MICR cheques for listed companies
All listed companies will have to issue refund and dividend warrants on magnetic ink character recognition (MICR) cheques from April 30.
In a posting on the Dhaka Stock Exchange website yesterday, the stockmarket regulator said: "All the listed companies
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Prime Bank to open 20 branches, SME centres
Prime Bank is set to open 10 more branches and 10 more SME centers around the country by the end of the current year as the company is aiming for a further expansion of its network, the bank officials said.
At the same time, the leading private commercia
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Beacon Pharma gets nod for IPO floatation
The securities regulator has approved the prospectus of Beacon Pharmaceuticals Limited giving it the go-ahead for launching Initial Public Offering (IPO).
The Securities and Exchange Commission (SEC) gave the approval in a meeting on the day.
Beacon Ph
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Bank CEOs to get bonus
Chief Executive Officer (CEO) of all banks in the country will, for the first time, be entitled to incentive bonus for encouraging them to perform better.
The central bank issued a circular in this connection Tuesday, which says the bonus will, however,
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Freight forwarders to increase charge from May 1
The freight forwarders has said that they would start realising increased charges from May 1 on each bill of lading (B/L) as the government has failed to resolve the issue of increasing freights.
The forwarders want to fix the charges at Tk 2,500 agains
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New SIBL chairman, vice chairmen
Mr Sultan Mahmood Chowdhury, Mr Sk Rabban Ali and Zohra Alam have been elected chairman and vice chairmen respectively of the Social Islami Bank Limited (SIBL).
They were elected at the 215th meeting of the board of directors of the bank in the city rece
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Delta Life earns Tk 4.47b premium
Delta Life Insurance Company Ltd, a large life insurer of the country, earned a total premium income of Tk 4.47 billion in the year 2009 as the company earned Tk 3.84 billion in 2008.
This was disclosed at the Annual Conference-2009 of the company's GN-
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Central bankers warn against rushing to impose levy
Three of the leading figures at the European Central Bank each warned on Saturday that ideas for a levy on bank profits, pushed as a way to create a buffer against future crises, need much more work.
"We insist very much on the fact that we need proper s
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Govt to develop special tourist zones
The government has started work on developing 'special tourist zones' for promotion of the country's tourism sector.
To this end, the authorities concerned identified 700 spots from which sites would be selected to develop as tourism zones.
The objectiv
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German envoy calls on DCCI President
Holger Michael, Ambassador of the Federal Republic of Germany called on DCCI President Abul Kasem Khan at DCCI.
Executive Director of Bangladesh German Chamber of Commerce & Industry (BGCCI) Daniel Seidl was present during the meeting.
DCCI President Ab
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Emirates SkyCargo launches weekly flight
Emirates SkyCargo introduced a scheduled weekly Boeing 777 freighter service to Dhaka to provide additional cargo capacity to Bangladesh's growing export market.
The freighter departs from Dhaka's Shahjalal International Airport at 17:00hrs on Tuesdays
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Commodity exchange market sought to reduce price volatility
The government should introduce a commodity exchange market to find out gaps between retail and wholesale level prices with a view to forestalling volatility in the prices of essential commodities, speakers at a dialogue.
They made the call at the dialog
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TVS launches motorcycle
TVS Auto Bangladesh has introduced a new CNG-driven 200cc Auto Rickshaw and a 125cc motorbike with diverse specialized feature in both.
The two new brands of the TVS Motor Company were formally launched in a formal ceremony at a local hotel.
Vice Chai
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'Build image to lure FDI'
The government should take measures to improve the country's image further and utilise Bangladeshi diaspora to attract more foreign direct investment, an analyst has suggested.
"We urge the government to take measures to attract more FDI to develop the c
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Modern Poly to raise fund from capital market
Modern Poly Industries Limited, a concern of business conglomerate TK Group, is set to raise fund from the stockmarket for business expansion.
The Chittagong-based company will float three crore ordinary shares of Tk 10 each using book building method, a
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India likely to raise rates again to tame inflation
India's central bank is expected to raise interest rates yesterday for the second time in just under a month in an attempt to check near double-digit inflation.
Annual wholesale price inflation, the main cost-of-living measure, is riding at a 17-month h
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BAT okays Tk 30 dividend per share
The 37th Annual General Meeting of British American Tobacco Bangladesh Company Limited was held in the city Thursday.
The shareholders in the AGM approved the proposed dividend of Tk. 30 per share.
The AGM was also told that in 2009, the company contri
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AIUB Baishakhi Ullash 1417
In celebration of Benagli New Year 1417, American International University-Bangladesh (AIUB) arranged a daylong cultural program on 14th April 2010, at the Banani club premise. The festivities started off with a grand Baishakhi rally organized by the AIUB
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IUB Awards 353 Meritorious Students
The Independent University, Bangladesh (IUB) distributed academic awards to 353 students for the academic year 2009. The Vice Chancellor Professor Bazlul Mobin Chowdhury gave away the awards at a function held at the University's permanent campus at Bashu
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Workshop On Career Planning and Exploration At EWU
A workshop on 'Career Planning and Exploration' was held on April 15, 2010 at East West University Auditorium. The program was presided over by Professor Dr. Muniruddin Ahmed, Pro-Vice Chancellor, East West University. Prof. Dr. Chowdhury Faiz Hossain, Ch
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AIESEC in IUB Leadership Forum 2010
AIESEC in Independent University, Bangladesh (IUB) set another milestone in the history as it took the initiative to organize the first ever 'Leadership Forum' on April 06, 2010. This was the second event of its kind organized by AIESEC in IUB, preceded b
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4 Essential Functions of a Résumé
Everybody knows that résumés are useful for getting interviews, but not everybody realizes the résumé's other, equally important, functions: It structures the interview process, reminds the interviewer of you after you are gone, and justifies the hiring d
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Women Rectors Across Europe and Leadership in Higher Education
Dr. Carmen Z. Lamagna, VC, American International University-Bangladesh (AIUB ) represented the university in a conference organized and funded by Istanbul Technical University with the theme "Beyond the Glass Ceiling: Women Rectors Across Europe and Lea
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Simon Sinek's How Leaders Speak
There is an inextricable link between leadership and communication. Leaders are the ones who can clearly communicate their vision. And the ones who can clearly communicate their vision are the ones who can lead.
You do not have to be the smartest guy in
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GM repays $8.1B in gov't loans
Fallen giant General Motors Co. accelerated toward recovery Wednesday, announcing the repayment of $8.1 billion in U.S. and Canadian government loans five years ahead of schedule.
The Obama administration crowed about the "turnaround" at GM and fellow ba
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Govt urged to waive tax on setting up of power plants
Chamber leaders Tuesday requested the government to waive tax on establishment of power plants, exempt import duty on alternative fuel, cut corporate tax rates and raise existing income tax-free ceiling for individuals.
They pleaded for removal of obstac
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Oil rig explodes off La.; 11 missing, 17 hurt
The Coast Guard by sea and air planned to search overnight for 11 workers missing since a thunderous explosion rocked an oil drilling platform that continued to burn late Wednesday, more than a day since it sent a fireball into the night sky. Seventeen pe
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Coal for power generation 'can be a good option'
Speakers at a roundtable Tuesday said proper utilisation of domestic coal for electricity generation can be a good option as the government plans to create a load shedding-free Bangladesh by 2012.
They made the remarks at the roundtable titled "Load shed
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Tk 13.52b to be spent in excess for 2 power plants
The government has to spend Tk13.52 billion in excess for setting up 300-megawatt capacity two power plants due to delay in implementation of the project taken up nearly a decade ago, officials said Tuesday.
Planning commission said the government will e
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Ratings not enough to attract FDI
Ratings may be necessary but not sufficient to attract foreign investment in the country, said speakers at a discussion meeting.
Developed infrastructure, simplified law and regulation, efficiencies of government agencies and many other factors coupled w
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Ratings not enough to attract FDI
Ratings may be necessary but not sufficient to attract foreign investment in the country, said speakers at a discussion meeting.
Developed infrastructure, simplified law and regulation, efficiencies of government agencies and many other factors coupled w
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Cotton import from India suspended
The country's textile sector is set to face fresh trouble as cotton import from India through Benapole land port was suspended on Wednesday morning because of the sudden restriction imposed by Delhi.
Businessmen fear that the production cost of yarn, whi
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US urged to pass NPTDA
Commerce minister Faruk Khan has urged the US government to immediately pass the New Partnership for Trade Development Act (NPTDA) in the US congress to boost exports of Bangladeshi products into the US market.
The commerce minister urged this when US
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Health overhaul will increase nation's tab
President Barack Obama's health care overhaul law will increase the nation's health care tab instead of bringing costs down, government economic forecasters concluded Thursday in a sobering assessment of the sweeping legislation.
A report by economic exp
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Dilip for flexible loan conditions
Industries minister Dilip Barua has urged banks and other financial institutions to change their mindsets regarding provision of loans for industries, saying that industrialists and entrepreneurs are not getting loans easily.
'The industry sector should
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RMG export to Canada drops
The country's readymade garment export to Canada went through unusual declines in the initial months of the current year as Canadian apparel retailers see dull sales even after recession.
After the EU and USA, Canada is the second largest market destinat
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PC rebound helps Microsoft profit jump 35pc
An improvement in corporate spending on computers helped Microsoft increase its net income 35 percent in the most recent quarter, but investors wanted even stronger signals of a recovery and sent Microsoft shares down sharply in after-hours trading Thursd
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Honda doubles operating profit: report
Japanese automaker Honda Motor doubled its operating profit in the year to March thanks to demand in emerging markets and the cheap yen, a report said Friday.
Honda's year-on-year operating profit shot up roughly 90 percent to 360 billion yen (3.9 billio
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Bourse teams attend SAFE meeting
DSE and CSE delegations left for Mauritius on Wednesday to attend the 9th annual general meeting of the South Asian Federation of Exchanges to be held on April 22-24.
Led by the Dhaka Stock Exchange's president Md Shakil Rizvi, the bourse's team includes
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Bangladesh delegation to participate business summit in US
A three-member delegation from Bangladesh will attend a two-day summit in Washington on entrepreneurship to be inaugurated by US president Barak Obama on April 26.
The American centre in Dhaka on Tuesday arranged a pre-summit web chat for Bangladeshi jou
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Japan exports recover after record fall
Japan's exports fell at a record pace last year as the economic crisis hit global trade, but the blow was softened by strong Asian demand supporting the economy's recovery, data showed Thursday.
And although overall exports plunged year-on-year, overseas
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Brazilian state bans Toyota Corolla sales
One of Brazil's biggest states, Minas Gerais, on Thursday ordered a ban on the sales of Toyota Corollas, saying the best-selling car presented a safety threat because of an acceleration problem.
"Some vehicles present problems of continual acceleration,
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