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Friday, 22 August 2008 |
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AP, NEW YORK -- Stocks fell in early trading Thursday as oil prices rose again and investors grew more anxious about the financial sector, particularly mortgage financiers Fannie Mae and Freddie Mac and investment bank Lehman Brothers Holdings Inc. Oil prices advanced as investors grew nervous that rising tensions with Russia could disrupt energy shipments from the world's second-largest oil producer. |
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Friday, 22 August 2008 |
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REUTERS, WASHINGTON - The number of U.S. workers filing new claims for jobless benefits fell last week for a second week in a row, the government said on Thursday, though they continued at levels that showed a weakening labor market. The Labor Department said initial claims for state unemployment insurance benefits dipped by 13,000 to a seasonally adjusted 432,000 in the week ended August 16 after falling a revised 12,000 a week earlier. |
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Friday, 22 August 2008 |
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AP, FRANKFURT, Germany — The German lender IKB Deutsche Industriebank, which has been badly hit by the subprime mortgage crisis in the United States, will be sold to the private equity firm Lone Star Funds, the German company's biggest shareholder said Thursday. The largest shareholder, Germany's state-owned KfW development bank, did not give the terms of its deal to sell 90.8 percent of IKB to Lone Star. |
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Friday, 22 August 2008 |
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Staff Correspondent The National Board of Revenue chairman has said they have proposed to the government for expansion of the central tax administrator. "We have submitted a draft proposal to the government and we hope it would be a reality soon," Md Abdul Mazid said at the NBR's Self-Motivated Taxpayer Awareness Programme Thursday.. |
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Friday, 22 August 2008 |
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Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer, reports AP. The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher. |
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Thursday, 21 August 2008 |
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AP, NEW YORK -- Stocks turned higher Wednesday as oil prices fell and financials pared their losses, allowing investors to focus on an upbeat profit report from Hewlett-Packard Co. Worries about the well-being of mortgage financiers Fannie Mae and Freddie Mac again dragged on the financial sector. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity. |
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Thursday, 21 August 2008 |
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REUTERS, WASHINGTON- Most Americans think that the worst of the fuel price spike that pushed gasoline above $4 per gallon has passed, but they have little hope that the housing market will stage a swift recovery, according to a Reuters/Zogby poll released on Wednesday. The economy has jumped to the top of voters' concerns this election year, eclipsing the Iraq War, and that has put the housing bust and rising inflation squarely in the spotlight. |
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Thursday, 21 August 2008 |
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AP, LONDON -- British oil company BP PLC said that testing will begin Wednesday on the closed Baku-Tbilisi-Ceyhan oil pipeline, which runs through conflict-stricken Georgia, ahead of a move to restart full operations as early as next week. BP spokeswoman Sheila Williams said that the ''dynamic integrity testing'' would involve ''limited and intermediate flow'' of oil through the BTC line, which usually provides some 1 million barrels per day of Caspian Sea crude to international markets. |
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Thursday, 21 August 2008 |
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AP, SHANGHAI, China -- Chinese stocks surged Wednesday in their biggest gain in nearly four months on speculation Beijing plans new economic stimulus measures and other policies aimed at reviving the country's languishing markets. The benchmark Shanghai Composite Index jumped 7.6 percent to 2,523.28. It was the biggest one-day advance for the index since it rose 9.3 percent on April 24 after the government cut the tax on share transactions. |
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Thursday, 21 August 2008 |
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Scholars Bangladesh report reveals Desk Report NRBs are now keener than ever before to come and invest in Bangladesh, an NRB group claimed Wednesday. Scholars Bangladesh, which organised a conference of non-resident Bangladeshis in December last year, made the claim at the launch of a report on their progress so far. |
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Thursday, 21 August 2008 |
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AP, LONDON -- The U.S. dollar was higher Wednesday morning against other major currencies in European trading. Gold prices rose. The 15-nation euro fell to $1.4701 from $1.4768 late Tuesday in New York. |
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Thursday, 21 August 2008 |
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AP, NEW YORK -- The price of oil pared its gains Wednesday after the government reported a massive increase in crude supplies, but lingering concerns about Tropical Storm Fay kept prices higher for the day. The Energy Information Administration, an arm of the U.S. Energy Department, said the nation's crude inventories rose by a hefty 9.4 million barrels in the week ended Aug. 15. |
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Wednesday, 20 August 2008 |
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AP, NEW YORK -- Oil prices rebounded Tuesday, jumping back above $115 barrel after the dollar weakened against the euro and a rally in heating oil attracted new buyers into energy markets. Light, sweet crude for September delivery rose $2.73 to $115.60 in morning trading on the New York Mercantile Exchange, after alternating between positive and negative territory earlier in the day. The September contract expires Wednesday, adding to the volatility. |
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Tuesday, 19 August 2008 |
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AP, NEW YORK -- America's biggest banks have suffered unprecedented losses from the ongoing credit crisis, and that's made some investors question whether the big financial conglomerates should be broken up in order to survive. Break-up advocates, who for months have been clamoring for Citigroup Inc. to be dismantled, got some validation of their viewpoint this past week. |
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Tuesday, 19 August 2008 |
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Chinese shares slumped to a 20-month low today, with airlines, oil companies and other stocks dropping sharply amid anxiety about the wider economic outlook, reports The Guardian. The continuing slide - which saw the benchmark index close 62% below its peak last October - comes on top of concern about a post-Olympic hangover and news last week that factory gate inflation had hit a 12-year high. |
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Tuesday, 19 August 2008 |
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Bdnews24.com Dhaka's cab firms are on the verge of collapse as 70 percent of licensed cabs have been written off the roads, according to a government estimate. Out of the total 10,857 taxis licensed to ply city streets, 7,500 cabs have been forced to retire from service, Bangladesh Road Transport Authority said in a report submitted to communication ministry in July. |
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Tuesday, 19 August 2008 |
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AP, BRUSSELS, Belgium -- Euro nations' trade deficit with the rest of the world came close to balance in June, the EU statistics agency said Monday. Eurostat said the 15 euro nations bought slightly more goods from trading partners than they sold during the month, posting a trade deficit of euro0.1 billion ($0.15 billion) in June, far lower than May's trade deficit of euro3.9 billion ($5.74 billion). |
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Tuesday, 19 August 2008 |
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AP, NEW YORK -- Fewer Americans are reading newspapers and are instead getting their news online, but television remains the leading source of news in the country, according to a survey released Sunday. Not surprisingly, younger people tend to get more of their news on the Internet, while older folks use traditional media such as television and newspapers, the Pew Research Center's biannual survey on news consumption habits said. |
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Tuesday, 19 August 2008 |
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AP, NEW YORK -- Crude prices dropped below $113 a barrel in volatile trading Monday as Tropical Storm Fay swirled toward Florida but appeared unlikely to disrupt oil installations in the Gulf of Mexico. Light, sweet crude for September delivery fell $1.17 to $112.60 in morning trading on the New York Mercantile Exchange, after earlier rising as high as $115.35. |
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Tuesday, 19 August 2008 |
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AP, LONDON -- The U.S. dollar was mostly lower against other major currencies Monday morning in European trading. Gold prices rose. The 15-nation euro rose to $1.4731 from $1.4680 late Friday in New York. |
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