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185,000 certificate cases filed against farmers
Six state-owned banks have filed cases against more than a hundred thousand farmers for failing to pay loans amounting to nearly five billion taka, the Bangladesh Bank has said.
The farmers have defaulted on the loans - each sized between Tk 5,000 and Tk
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WTO members pursue Doha despite gaps
World Trade Organization members will continue to seek a deal in the long-running Doha round despite big gaps in positions, but no agreement is likely this year, trade diplomats and officials said on Thursday.
They were talking after key delegations met
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Travel tax earning on the decline
The government's earning from travel tax head is on the decline. Travel tax is realised from the outgoing Bangladeshi passengers. The international airport at Dhaka is the principal point from where highest amount of travel tax is realized every year.
Th
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Deal with Sheraton hotel extended
The government has extended the contract with Starwood Hotels and Resorts Worldwide Inc to run the Dhaka Sheraton Hotel up to June 30, 2010, sources said.
The present management contract between the Bangladesh Services Limited (BSL), the owning company o
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BB releases SME credit policy
The central bank released, for the first time, a small and medium enterprise (SME) credit policy and programmes Thursday with a disbursement target of around Tk 240 billion for the ongoing calendar year.
Bangladesh Bank (BB) Governor Atiur Rahman announc
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Japan's consumer prices continue to fall
Japan has been in deflation for 12 straight months, figures released by the government show.
Prices fell by 1.2% in February from a year earlier, threatening the country's recovery from recession.
Japan's economy has been periodically plagued by deflat
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4 directors of DSE elected
Four including the incumbent president of Dhaka Stock Exchange (DSE) were elected directors of the country's premier bourse in an election held last week.
They are Md. Rakibur Rahman, the incumbent president of the DSE, Khaja Ghulam Rasul, Ahmed Iqbal Ha
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China VP due in Sweden as Volvo takeover nears
Chinese Vice President Xi Jinping is due in Sweden this weekend, amid signs that Chinese carmaker Geely could soon formally seal a deal to buy troubled Volvo from US auto giant Ford.
Xi, tipped in political circles to replace President Hu Jintao by 2013,
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BAE signs £127m contract to design Navy warship
The Ministry of Defence has announced plans to spend £127m to design a new warship for the Royal Navy.
The four-year contract to develop a design for a new frigate, the Type 26, has been awarded to BAE Systems.
BAE was also given the go-ahead to start
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Banks misuse loan declassification power
Bangladesh Bank has cautioned the banks of taking back their loan declassification power, as some of them have 'misused' it.
"Some banks did not comply with the existing loan declassification rules properly, rather they have misused their authority," Ban
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Dubai World gets $9.5b government backing
The Dubai government has announced it will provide $9.5bn (£6.4bn) in funding to help its Dubai World investment vehicle to restructure its debt.
The troubled company has presented a plan to restructure $23.5bn of debt to its creditors, including convert
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China beats US in green investment
China has taken the lead in investments in clean energy, spending nearly double what the US did in 2009, as it ramps up projects in both renewable and traditional energy, a report said Thursday.
China's investment and financing for clean energy rose to $
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Rio Tinto trial in China ends without verdict
The trial in China of four executives of mining giant Rio Tinto has ended, a defence lawyer has said.
However no verdict has been announced so far, and Australian Foreign Minister Stephen Smith said it could take some days for one to emerge.
The execut
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Cairn Indian oil fields bigger than thought
Cairn Energy has raised its estimate of reserves in its Indian oilfields from 175,000 barrels of oil per day to a potential 240,000 barrels of oil.
The oil exploration company made an operating profit of $53m (£35m) in 2009, up from $11m in 2008.
Cairn
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Little money expected for alternative energy
The head of New England's power grid said Thursday that alternative energy is popular but is not being funded, leading to uncertainty in the market.
Gordon van Welie, president and chief executive officer of ISO-New England in Holyoke, Mass., said in a m
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Iran tightens petrol rations as economic sanctions loom
Iran has announced it will cut the volume of its cheap petrol ration by 25% to 60 litres per vehicle per month from 21 March.
Currently, each vehicle is allowed a quota of 80 litres of fuel at 10 cents a litre, with any amount needed on top of that price
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Seminar On 'Quality In Academics' Holds At AIUB
A seminar entitled "Quality in Academics" was held on 21st March 2010 in AIUB Auditorium (Campus 1). The program was organized by the Department of Operations Management, AIUB. The seminar was organized by Md. Nizamuddin, Assistant Professor, Department o
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Art Exhibition At IUB On Independence Day
The Art Club of Independent University, Bangladesh (IUB) organized a three week long art exhibition titled 'Colour & Form: A Trilogy of 39th Independence Day 2010', at Baridhara campus, Dhaka, on March 24, 2010.
The students of Arts & Aesthetics exhibit
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ICB AMCL announces NAV of eight mutual funds
ICB Asset Management Company Ltd (ICB AMCL), a subsidiary of Investment Corporation of Bangladesh (ICB), has announced Net Asset Value (NAV) of its eight mutual funds recently, said a press release.
The total NAV of ICB AMCL First Mutual Fund stood at Tk
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Local products fair from June
Three-day long local products fair will kick off on June 10 at Bangabandhu International Conference Centre to promote country-made goods.
Abul Kalam Bhuiyan, BCI fair committee convenor said, "We are organising this fair titled 'My Country My Product Fai
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Govt bans sugar export
The government has banned sugar export to rein in its soaring prices and boost domestic supply despite an outcry by private refiners.
All types of sugar export are banned until further order, a commerce ministry statutory regulatory order said Sunday, ma
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Yale Business School team visits Square Pharma
Square Pharmaceuticals Ltd hosted the visit of a 27-member team from the Yale School of Management, one of the premier business schools in the world under the globally renowned Yale University, at its state-of-the-art UK MHRA approved Dhaka plant.
The vi
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Hoechst to buy UB group stake
Aventis Pharma Ltd said Monday its promoter Hoechst GmbH plans to raise its stake to 60.37 per cent in the firm by acquiring 10.27 per cent stake from the United Breweries group.
Hoechst plans to acquire shares from Kingfisher Finvest, United Breweries (
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Tata invests in Myanmar
India's largest vehicle maker Tata Motors said today it signed a contract with Myanmar Automobile and Diesel Industries to set up a heavy truck plant in the military-ruled country.
The new plant would be set up at Magwe, nearly 480 kilometres (300 miles
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Local co to invest $4.9m in KEPZ
M/s Texture Art Ltd, a Bangladeshi company, will set up a garment manufacturing unit in the Karnaphuli Export Processing Zone (KEPZ), said a press release.
This 100 per cent locally-owned company will invest US$4.9 million to set up its plant and will pr
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Govt to reopen closed jute mills
The government is proceeding in a planned way to reopen the closed jute mills gradually, control the unstable jute market and increase jute production in view of the rise in demand for jute goods across the world.
As part of the plan, the government will
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BSAA refuses to pay Saif Powertec
Container handling in the Chittagong Container Terminal of the port might falter over payment of on-board service charges claimed by the CCT terminal operator Saif Powertec Ltd.
The shipping agents association members today unanimously decided not to pay
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DhakaMoney launched
Governor of Bangladesh Bank Dr Atiur Rahman has said the inter-bank money market in Bangladesh remains poor in compare with its neighboring countries.
He blamed the shortage of adequate information behind the failure of sufficient liquidity management de
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Coca-Cola hit by pollution claim in India
Coca-Cola contaminated water and polluted the environment at a south Indian bottling plant and should pay 47 million dollars in compensation, local authorities said today.
The government in Communist-run Kerala state said it had accepted the findings of
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President calls for more Thai investment
President Zillur Rahman called for necessary steps to increase Thai investments in Bangladesh through expanding the trade volume between the two countries.
He asked the newly appointed Bangladesh Ambassador to Thailand Kazi Imtiaz Hossain to play due ro
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Prime Bank plans to scale up investment
Prime Bank has planned to scale up financing in infrastructures including the capital-intensive power and telecom sectors as part of its efforts to boost industrialisation in the country, its chief executive officer (CEO) said.
Risk-averse Bangladeshi p
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Pubali Bank br managers' confce held
Managing Director (MD) of Pubali Bank Ltd Helal Ahmed Chowdhury has asked the branch managers to work hard to expand foreign exchange business of the bank.
He was speaking as chief guest at the Branch Managers' Conference 2010 of the bank's Chittagong re
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BB eases capital rules
Bangladesh Bank (BB) has relaxed guidelines on subordinated debt allowing more banks to issue such debt instrument to meet capital requirement under Basel-II accord, officials said.
Under the amended guidelines, the banks will be allowed to issue the de
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CRAB holds sixth AGM
The 6th Annual General Meeting of Credit Rating Agency of Bangladesh Limited (CRAB) was held recently at Lakeshore Hotel in the city.
CRAB Chairman M. Syeduzzaman chaired the meeting.
It was informed that the company continued to perform well during 20
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NCC Bank opens 66th branch
NCC Bank Limited opened its 66th branch with online facility at Narayangonj Monday.
Chairman of the Bank Yakub Ali Montu formally inaugurated the branch as chief guest. Managing Director & CEO Mohammed Nurul Amin presided over the function.
Vice Chairma
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Japan to give $431m for 4 projects
The Japan International Cooperation Agency (JICA) has reached an agreement ith the government on Japanese Overseas Development Assistance (ODA), in the form of loans, for four projects amounting to a total of US$ 431 million.
Japanese ambassador to Ban
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Oil rises to near $81 as US dollar weakens
Oil prices rose to near $81 a barrel Friday in Asia as the U.S. dollar weakened, making dollar-based commodities cheaper for investors with other currencies.
Benchmark crude for May delivery was up 28 cents to $80.81 a barrel at midday Singapore time in
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New StanChart CEO for Middle East
Standard Chartered has appointed V. Shankar (Shankar) as CEO, Middle East, Africa, the Americas and Europe with effect from 1 May 2010.
He will be based in Dubai and becomes the Bank's most senior executive located in the Middle East, said a press relea
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Junk bonds selling at briskest pace since 2007
Companies are selling high-yield, high-risk bonds at the fastest pace since credit markets seized up in 2007 amid signs the economic recovery is gaining momentum.
Renault SA, the second-largest French automaker, Pittsburgh-based US Steel Corp. and other
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Victorious Obama must rethink the yuan
United States President Barack Obama made history Sunday night when the House of Representatives passed a landmark healthcare bill that widely expanded medical care to Americans.
Passage of the bill would make health insurance available to 32 million Ame
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Power, water crisis continues
Water and power crisis deepen in the country leading to more sufferings of the people. On any given day people faces eight to 12 hours load shedding. Many areas of Dhaka city are facing water crisis and it is now a common picture that people are collectin
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Tracing the bitter truth of chocolate and child labour
This Easter, Britons will eat their way through 80m chocolate eggs without the slightest taste of how the essential ingredient in our favourite treat is harvested.
By the time it hits the High Street, cocoa becomes increasingly hard to trace.
As it pas
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Turkey's state-dominated past goes up in smoke
Kenan and his colleagues huddled around a wood-fired stove, rubbing their hands to ward off Ankara's bitter winter chill, and sipping tea.
They were angry, so angry that it was difficult to get them to speak one at a time.
"Our prime minister is crazy",
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Does the internet reinforce prejudices?
We're feeling our way in the dark quite a bit, as we wander through this new world of information the internet has created for us.
But we're quite happy to build up myths which I suppose give comfort for those of us who either don't want to spend any ti
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Letter To The Editor
Wrong policies,
corruption eats up Madhupur Jungle
Pursuance of wrong policies by the successive governments coupled with corruption at different levels of the government contributed to the gradual disappearance of the legendary Madhupur Jungle in Ba
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Foreign investment nosedives
Foreign direct investment has nosedived in the first six months of this fiscal year as the government has failed to arrest the worsening power and energy situation, said Bangladesh Bank officials and the investors.
The Bangladesh Bank's monthly update re
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Afghanistan, China sign trade deal
The presidents of Afghanistan and China have signed agreements on trade and economic co-operation aimed at boosting the war-torn Afghan economy.
The deals followed talks in Beijing between Hamid Karzai and Hu Jintao, who said China would always support a
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Electrolux bids for Daewoo Electronics
Electrolux, the Swedish-based producer of home appliances, is one of two preferred bidders for Daewoo Electronics.
Woori Bank is acting for the creditors-cum-shareholders of the South Korean electronics group and said it plans to complete the sale by by
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Inflation eats up real earnings
Price inflation now is the greatest threat to the economic management. The inflation trend is on the rise for the last few months. The finance minister on the other day admitted that price inflation is now the greatest challenge to the government.
The in
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Nation celebrates Independence Day
The nation celebrated its 40th Independence and National Day on Friday paying tributes to the martyrs for their supreme sacrifice for the country's independence and taking a fresh vow to hold trial of the war criminals who had committed one of the worst g
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Govt backtracks from DST plan
The cabinet has cancelled the plan to introduce Daylight Saving Time (DST) on a permanent basis in Bangladesh-clocks will not go forward on Mar 31.
"The government has taken the decision in the public interest," Abul Kalam Azad, the prime minister's pre
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Power, water crisis deepens
People at different places in the country, including the capital Dhaka, on Thursday staged demonstrations asking the government to ease the power and water supply situation immediately.
The agitated people across the country also threatened movement if t
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Samsung chief returns after tax-evasion pardon
The former boss of Samsung Electronics, who was convicted of tax evasion and later given a presidential pardon, has returned to head the company.
Lee Kun-hee headed Samsung for two decades before stepping down in April 2008, three months before being han
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Congress completes overhaul of health care
Capping an epic struggle, congressional Democrats put the final touches Thursday to historic legislation enshrining health care as the right of every citizen. Republicans vowed to campaign for repeal in the fall election season, drawing a quick retort fro
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