A memorandum of understanding was signed on Saturday between the state-owned power operators of Bangladesh and India for cooperation in the power sector, an official said.

Bangladesh Power Development Board (BPDB) signed the agreement with National Thermal Power Company (NTPC) for assistance to set up a coal-fired power plant, develop human resources and in renovate old plants in Bangladesh, a BPDB official told bdnews24.com.

Prime minister Sheikh Hasina is expected to inaugurate the first of two 120MW units at a new power plant in Sidhirganj on Sunday, but without any permanent solution to a critical gas shortage.

Project director Rahmat Ullah Ahmed told bdnews24.com on Saturday that although the unit was set to formally launch commercial production, a concrete long-term answer to the gas crisis is nowhere in sight.

Bangladesh Biman Airlines launched its new non-stop Dhaka-London service on Saturday.

The flight took off with 311 passengers and crew at 9:15am, Biman director (administration) Md Aminul Haque told bdnews24.com.

Toyota Motor Corp faced US Congress scrutiny over its biggest ever safety recall as rival Honda Motor Co, tipped to gain from Toyota's woes, also said it would recall thousands of cars worldwide.

Honda said it would recall a total of 646,000 units of its Fit/Jazz and City models, including 140,000 in the United States, because of a faulty window switch, after a child died when fire broke out in a car last year.

Sam's Club, the warehouse club division of Wal-Mart Stores Inc is cutting roughly 11,200 jobs, or about 10 percent of its workforce, as it outsources in-store product demonstrations and eliminates positions used to recruit new business members.

Sam's Club Chief Executive Officer Brian Cornell said on Sunday that the retailer would outline charges associated with the job cuts in February, when it releases fourth-quarter results. He said he did not expect any "material impact" on its financial results.

Bangladesh Bank governor Atiur Rahman said the country would carry on with its own policies, rejecting the World Bank's recent projection about Bangladesh's downward economic growth.

"We must determine what to do, where and when to do it," he told a discussion on inclusive banking and widening formal financial services on Saturday.

LDCs need genuine access to the market of both developed and advanced developing countries to foster economic growth, a senior UN official said in Dhaka Wednesday.

Assistance for augmenting trade infrastructure and production capacities is also needed for LDCs, said UN undersecretary general Noeleen Heyzer.

Industries minister Dilip Barua on Thursday told parliament that an industrial park would be set up at Mirersharai upazila in Chittagong. The minister informed the House about the government decision while answering a question from Nurul Islam MP.

Answering to a query of MA Jabbar MP from Satkhira-2, Barua said some new projects had been launched alongside the reinforced programmes of BSCIC for giving the small and cottage industry a shot in the arm.

The government plans a cut in interest rate on savings certificates 'to a reasonable level'.

It is also considering changes to duration of investment and the number of saving certificates and other aspects.

Finance minister AMA Muhith hinted at the possible move at a meeting of the finance ministry on Wednesday.

Britain has awarded energy companies the rights to develop the world's biggest offshore wind project in hopes the country will become a leader in the emerging industry, which is vital to slash carbon emissions.

The Crown Estate, in charge of Britain's coastal seabed, on Friday announced winners for the Round 3 tender, including Portugal's EDP Renewables, Britain's Centrica, Germany's E.ON and Sweden's Vattenfall.

Bangladesh will seek duty free access for 232 products, including ready-made garments, to India during prime minister Sheikh Hasina's visit to Delhi next week, commerce minister said Tuesday.

Some 460 Bangladeshi items are currently in India's blacklist.

Global commodity prices, including those of food and oil, are likely to increase in the year ahead after a sharp decline at the start of 2009, the IMF said this week. The report, an Outlook for 2010 on commodity prices, projects rising global demand leading to higher prices.

The rising demand is expected to coincide with a faster expansion of global commerce as there is stronger perception that the worst recession is over aided by worldwide stimulus packages.

Frontier markets could become the sweet reward of 2010 if investors are willing to take risks in underdeveloped, illiquid and potentially unstable markets.

Large emerging market economies have been a major linchpin of the global recovery this year as they have reduced and diversified their exposure to the global credit crisis by cutting interest rates and selling reserves without sacrificing growth.

The government has extended the ban on rice export to six more months, a commerce ministry statement said on Thursday.

The period on the restriction expires on Thursday. The new extension will be effective from Friday, the statement said. The government extended the ban in June.

The year 2009 brought moments of joy and sorrow for stock investors as the landmark listing of giant Grameenphone sent market capitalisation skyrocketing, but naked intervention caused plenty of market jitters.

The year was also marked by wild share price fluctuations, highest single day turnover, an OTC market and introduction of book building pricing method for floatation of IPOs (initial public offering).

The government on Wednesday approved a proposal to import power from India. The tariff will be agreed upon once a Memorandum of Understanding is reached between the two countries.

The cabinet at a meeting chaired by prime minister Sheikh Hasina approved the Memorandum of Understanding between Bangladesh and Indian governments on cooperation in power sector, her press secretary Abul Kalam Azad told reporters at a briefing.

Commerce ministry has claimed that the prices of consumer products in Bangladesh are lowest is the South Asia.

Commerce minister Col (Rtd) Faruk Khan told a meeting of parliamentary standing committee that the prices of essentials in Bangladesh largely depended on the price-level in India, said standing committee members.

The government expects the upcoming Dhaka International Trade Fair to buck a two-year trend of declining export orders. Commerce minister Faruk Khan said Monday: "Export orders will rise this time."

Export orders from the fair in 2006 amounted to Tk 24.68 crore. But they shrunk to Tk 22.6 crore in 2008 and Tk 19.91 crore in 2009.

Investors who kept faith in Asia as the world teetered on the brink of financial meltdown a year ago have been richly rewarded -- the region's markets rode out the storm in spectacular style and posted stunning gains.

The economic outlook for 2010 appears far sunnier. But with frothy markets betting on a smooth return to business as usual, the danger of a sudden correction hangs over Asia, unless the region can steer its way past some treacherous political risks.