New farm credit policy targets Tk 126 billion disbursement
The Bangladesh Bank on Wednesday announced its farm loan policy with a target to disburse Tk 12,617.40 crore to the agriculture sector in the current financial year.
Of the amount, state-owned specialised banks will disburse Tk 5,640 crore, public commer
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Murali retires with 800 Test wickets
World bowling record-holder Muttiah Muralitharan retired with 800 Test wickets on Thursday as Sri Lanka thumped India by 10 wickets in their first Test.
The off-spinner had last man Pragyan Ojha caught at slip by Mahela Jayawardene to reach the landmark
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SEC fines DSE, CSE for gaffes
The capital market regulator has fined the country's twin bourses for trading gaffes, an official said.
The Securities and Exchange Commission slapped Tk 1 lakh in fine on the Dhaka Stock Exchange for discrepancies in index calculation and for opening tr
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Volvo Trucks reports profits after restructuring
Volvo Trucks, the second- biggest maker of heavy vehicles, reported unexpectedly strong quarterly profits today and stood by its forecast of recovery in US and European markets.
In the three months through June, net profit was 3.15 billion kronor (333.4
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UMC to appeal fine on illegal investment
Taiwanese chip giant United Microelectronics Corp (UMC) vowed today to appeal a court ruling that upheld a fine imposed on the company for making an unauthorised investment in China.
UMC, currently the world's second biggest contract chip maker by revenu
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Iran sells stake in 2nd largest car maker
Iran has sold an 18 per cent stake in the country's second largest car maker to an employee fund. Iranian newspapers, including economic Donya-e Eqtesda daily, reported Thursday that the shares of Saipa were sold on the Tehran Stock Exchange for $1.6 bil
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Real sector share in economy to be 40pc
Prime minister Sheikh Hasina on Wednesday told the parliament that the government was working on upgrading Bangladesh to a middle income country through raising contribution of its industrial sector in the national economy up to 40 per cent from the exist
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Govt finalises national shrimp policy
The government has finalised the national shrimp policy aiming to ensure quality control in shrimp export and create more demand of it on the international market.
'The draft of the shrimp policy has already been finalised and it will be
sent to the cab
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Mobile subscribers reach 60 million
The number of mobile users in the country reached nearly six crore at the end of the last financial year [till June 30] after the six operators added 13.29 million subscribers in FY 2009-10.
The Bangladesh Telecommunication Regulatory Commission's data,
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Sugar price rising
The price of sugar continued to rise sharply in both the wholesale and retail markets as supply of stocks from the millers remained inadequate compared to the demand.
Market watchers said the sweetener became costlier by nearly 15 per cent at the retail
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NBR to seek WCO co-op to improve service
The National Board of Revenue would sign a deal with the World Customs Organisation within a week to get its assistance for improving the capacity of the Customs Department.
The finance minister AMA Muhith said it speaking at a workshop hosted by NBR on
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Trade groups press emerging economies over Doha
Brazil, China and India must use their growing economic might to help revive deadlocked global trade talks, a coalition of business lobby groups said in a letter to U.S. and European Union trade negotiators.
The letter, sent on Wednesday, is the latest s
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Maintenance work to shut off power supply
Electricity supply in different parts of Dhaka city remained suspended from dawn-to-dusk on Friday and Saturday because of maintenance work of the transmission line.
According to a Power Grid Company of Bangladesh statement, service work will be conducte
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UK dividends to fall 6.5% in 2010 due to BP: study
Dividend payments by London-listed companies will fall 6.5 percent this year, mainly because BP suspended payouts after the Gulf of Mexico oil spill, Capita Registrars Dividend Monitor said.
It followed a 13.4 percent drop in payouts last year in the wak
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BP's oil well to stay shut despite tropical storm
Engineers have grown so confident in the leaky cap trapping oil inside BP's crippled well that they will leave it closed and unwatched if a tropical storm that formed Thursday forces them to flee, the government's spill chief said.
Barring another setba
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Airbus targets more than 400 orders
European aircraft manufacturer Airbus said on Thursday it now hoped to win orders for more than 400 planes this year, reporting a solid performance at the Farnborough International Airshow.
The event, now in its fourth day and scheduled to end on Sunday,
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Senate Democrats abandon energy bill
Senate Democrats on Thursday gave up plans to attempt to pass an energy bill that caps greenhouse gases blamed for global warming, abandoning a priority of President Barack Obama.
Obama had hoped to add a climate bill to the two biggest legislative succe
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Obama signs jobless benefit extension bill
ET Desk
US President Barack Obama on Thursday signed into law a bill restoring unemployment benefits to more than two million Americans, following a bitter standoff with Republicans.
Obama signed the bill in the Oval Office a few hours after it was sent
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Windows 7 sales boost Microsoft net income
Microsoft Corp. said Thursday that its net income surged in the most recent quarter, the latest sign that businesses are again spending on technology.
Strong sales of Windows, particularly to Microsoft's corporate customers, and of Office 2010 helped boo
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AT&T 2Q earnings up 26 per cent
ET Desk
AT&T Inc. said Thursday that its earnings rose 26 per cent in the latest quarter and raised its forecast for the year, helped by its iPhone-fueled wireless arm and cost-cutting.
The country's largest telecommunications provider said it now expe
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Pilotless drones show new face of war at Farnborough
Pilotless drones, remote-controlled military aircraft destined to play a vital role in combat, took a high-profile place at the Farnborough air show this week.
With unmanned aircraft already being used by NATO forces in Afghanistan for intelligence-gathe
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Dell Inc paying $100 million in SEC deal
Computer maker Dell Inc. is paying $100 million to settle civil charges that it used fraudulent accounting to meet Wall Street earnings targets, the government announced Thursday.
Under the settlement with the Securities and Exchange Commission, company
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Twitter to fight outages with new data center
Twitter will shift its technical operations to a new US data center later this year to better cope with the rocketing popularity of the hot microblogging service.
Twitter has been bedeviled by outages, most recently on Monday, when users were unable to s
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Pressure mounts on Nokia CEO as Q2 earnings plunge
Nokia's chief executive came under increasing pressure Thursday, as the world's biggest mobile phone maker saw its earnings slump in the face of competition from Apple and RIM in the key smartphone segment.
CEO Olli-Pekka Kallasvuo, who according to the
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NY Times posts revenue growth, reversing slide
The New York Times Co. reported a slight increase in quarterly revenue on Thursday as double-digit growth in digital advertising helped offset a continued slide in print advertising.
The Times Co., which owns The Boston Globe, International Herald Tribun
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Pragati to assemble Pajero jeeps
Pragati Industries Limited (PIL), a state-owned car assembling plant, is likely to go for trial assembling production of Pajero Sports Jeep by January next year.
"The government is hopeful to market the assembled Pajero in the country through PIL by Jun
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StanChart, IOE sign agreement
Standard Chartered Bank and International Office Equipment (IOE) have recently signed an agreement.
Under this agreement, all Standard Chartered Credit Cardholders (except Saadiq Credit Card) will enjoy InstaBuys @ 0pc interest facility from nominated s
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AmEx profit triples as spending rises
American Express Co. tripled its second-quarter profit as more spending by its card members helped vault its business back to pre-recession levels.
The New York-based credit card company on Thursday registered its third consecutive quarterly gain since s
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Billions needed to rebuild Iraqi industry
Billions of dollar are needed to rebuild Iraq's shattered industry but up to $7 billion is needed to help the sector recover from years of war and sanctions, the industry minister said.
'At the present estimate, I would think it will require between five
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Myanmar's largest wholesale market opens next year
Myanmar's largest wholesale market will open in the suburban area of the former capital of Yangon early next year, according to the Myawaddy Trading company on Thursday.
Aimed at facilitating trading activities between local and foreign traders, the two-
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GM takes on subprime car loans but it's less risky
General Motors is getting into the subprime lending business. And that means taxpayers are, too.
But these car loans aren't as risky as you might think.
GM, majority owned by taxpayers, is buying a company that makes car loans to shoppers with poor cred
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Auto re-rolling millers for fixed licence fee
Leaders of the country's auto re-rolling and steel mills association has urged the government to take steps to set a fixed licence fee saying the fee on annual turnover is illogical.
"The problem severely faced by the industry is the licence fee imposed
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CEMS organises four shows on RMG, textile
Conference and Exhibition Management Services Ltd (CEMS) USA in association with CEMS-Bangladesh is going to organise four exhibitions at a time, which will be held at the Bangabandhu International Conference Centre from July 28 to 31.
The exhibitions ar
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Operators submit tender for container handling at Ctg port
Ten private operators have expressed eagerness to handle containers and containerized cargo in the Chittagong port with the lowest bidder offering prices more than double the rate submitted in the earlier tender held in May last.
Khulna Traders has offer
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MTBL opens booth at Shahjalal Int'l Airport
Mutual Trust Bank Limited (MTBL) opened a booth at Hazrat Shahjalal (HS) International Airport in the city Monday, according to a press release.
Secretary-in-charge of the Ministry of Civil Aviation and Tourism Shafique Alam Mehdi inaugurated the booth o
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JS passes bill to form welfare assoc in EPZ
Parliament on Tuesday passed the EPZ Workers Welfare Association and Industrial Relation Bill, 2010 to allow EPZ workers to set up welfare association and to protect Bangladesh's GSP facilities in the US market.
Agriculture Minister Begum Matia Chowdhury
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Banks raise deposit rates
A large number of commercial banks raised their interest rate on deposits in July this year narrowing the gap with lending rate.
At least 18 commercial banks have increased interest rates on deposits this month, while interest rates on lending remained a
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Eurozone risks threaten nascent recovery: IMF
The eurozone's fiscal crises 'threaten' the area's nascent economic recovery and could lead to persistent unemployment, the IMF warned on Wednesday.
The recovery, driven mainly by foreign demand, 'is likely to be slowed in the near term by market tension
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Fed chief to Congress: Don't end stimulus spending
Federal Reserve Chairman Ben Bernanke told Congress Thursday that the fragile economy needs government stimulus spending to strengthen the recovery and help reduce unemployment.
Testifying before the House Financial Services Committee, Bernanke urged law
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Atiur for innovative business ventures
Bangladesh Bank Governor Atiur Rahman Monday appreciated Infrastructure Development Company Ltd (IDCOL) and AB Bank for their innovative business strategy and urged other financial institutions to adopt ventures on green technology.
"We need more financi
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Steps taken to cut cost of fund of shipbuilders
Bangladesh Bank (BB) Governor Dr Atiur Rahman said the central bank has taken steps to cut the 'cost of fund' for the country's emerging shipbuilding industry to make it competitive in the global market.
"Bangladesh Bank has already drafted a policy for
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Europe to go public with bank stress test results
Europe faces another moment of truth in its simmering debt crisis on Friday as regulators release the results of "stress tests" on 91 banks across the continent, an exercise that some fear could fail to credibly answer markets' questions.
The hope is tha
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FDI declines
This is a very alarming sign that the foreign direct investment in Bangladesh has declined by 36 per cent in the last year. According to the World Investment Report, 2010 the FDI stood at $700 million compared to 20.11 per cent decline in South Asian coun
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Double-edged austerity programs
It struck me as highly unusual for a group of European leaders, many of whom were brought up in the cradle-to-grave welfare systems of their respective countries, to talk so passionately about budget cuts in the G20 conference in Toronto.
Their rhetoric
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Letter To The Editor
Public space
'Why should the non-car-owning majority allow the car-owning minority to store their private property, i.e. cars, on public property at no charge? Why should my every walk to the store be akin to a stroll through a parking lot? Why should t
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Europe's dangerous contempt for markets
The stress tests of 91 European Union banks - whose results we'll be given on Friday - are built on a paradox that some will see as delicious, and others as insane.
That paradox relates to the treatment of sovereign debt, the borrowings of governments li
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G20: Why we all want to be Canadian now
Even on a rainy weekday at Ottawa's By Ward market, Canadian shoppers are cheery.
As Americans and Europeans face deficits and drastic government cuts, Canada's economy is recovering from only a mild recession.
Sheltering near the maple syrup stall, lo
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Container shortage hits shipping lines
The recent and unexpected surge in international sea cargoes ought to be nothing but good news for the world's shipping lines. Yet the industry has hit an unexpected snag.
With trade between Asia and Europe already up almost a quarter, leading operators
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FDI drops by 36pc in Bangladesh
The Foreign Direct Investment (FDI) in Bangladesh has declined by 36 per cent and stood at $700 million last year compared to 20.11 per cent decline in South Asian countries and 14 per cent in terms of the least developed ones, according to the World Inve
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BB declares monetary policy
The monetary policy stance announced by the central bank for the first- half of the current fiscal is in fact, an expansionary one, although the central bank termed it a 'growth accommodative monetary policy'.
It has been stated in the policy that the ba
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New Ctg mayor takes oath
Newly elected Chittagong City Corporation mayor Mohammad Manjur Alam Manju was sworn in on Sunday.
The prime minister, Sheikh Hasina, administered the oath to the new CCC mayor at a simple ceremony at the International Conference Centre of the Prime Mini
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Budget session ends
The second budget session of the ninth parliament ended Thursday after continuing for 33 working days.
The parliament session was prorogued after Prime Minister Sheikh Hasina gave her winding up speech. Deputy speaker Shawkat Ali read out the prorogation
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RMG workers' pay inhuman: PM
Prime minister Sheikh Hasina has said the wages, the owners of the ready-made garment unit pay their workers, were 'insufficient and inhuman'.
She made the comment while answering to the questions from the MPs in the parliament on Wednesday.
Sheikh Hasi
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