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Thursday, 14 August 2008 |
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Staff Correspondent The court denied bail to BNP senior joint secretary general Tarique Rahman in the Zia Orphanage Trust corruption case. Dhaka additional chief metropolitan magistrate Md Golam Rabbani denied bail though Tarique's lawyers and others made the bail plea in the light of his severe health problems. |
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Thursday, 14 August 2008 |
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AP, LONDON -- The U.S. dollar was mixed against other major currencies in European trading Thursday. Gold fell. The euro traded at $1.4880, down from $1.4916 late Wednesday in New York. Later, in midday trading in New York on Thursday, the euro fetched $1.4877. |
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Thursday, 14 August 2008 |
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AP, NEW YORK -- Oil prices pulled back slightly Thursday, a day after surging almost $3 a barrel, as waning U.S. demand for energy outweighed supply threats from the conflict in Georgia. At the pump, retail gas prices slid further. A gallon of regular fell about a penny overnight to a new national average of $3.778, according to auto club AAA, the Oil Price Information Service and Wright Express.
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Thursday, 14 August 2008 |
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WASHINGTON, Thu Aug 14, (bdnews24.com/Reuters) - Consumer prices rose at twice the rate expected in July to post the fastest rate of year-over-year growth in 17-1/2 years, pushed up by costlier energy and food, a government report on Thursday showed. The Labor Department said the Consumer Price Index, considered a key gauge of inflation, rose 0.8 percent in July after a 1.1 percent jump in June. That was far above the 0.4 percent gain that economists polled by Reuters had forecast for July. |
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Thursday, 14 August 2008 |
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TRAVERSE CITY, Michigan, Thu Aug 14, (bdnews24.com/Reuters) - Ford Motor Co starts producing its new global subcompact, the Fiesta, on Thursday, a key launch as the automaker aims to cut manufacturing and development costs worldwide. Ford, which posted an $8.7 billion second-quarter loss, sees the Fiesta as a blueprint for its product development efforts that include a global platform for its Focus compact car that has been built on differing platforms. |
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Thursday, 14 August 2008 |
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Dhaka, Aug 14 (bdnews24.com)—The closing day of the week was marked by rising indices on the country's stock exchanges. The day opened flat before buying occurred in midday trade, which pulled the indices up, an official with brokerage house Latif Securities told bdnews24.com Thursday. |
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Thursday, 14 August 2008 |
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Agency As many as 270 now-closed sick garment factories may reopen soon after a government decision to facilitate their quick return to business. An inter-ministerial meeting decided Tuesday that the finance ministry would "issue an instruction" for state-owned banks to write off interests on debts owed by these factory owners. |
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Thursday, 14 August 2008 |
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NEW DELHI, Wed Aug 13,(bdnews24.com/Reuters) - India's diesel demand is growing at an unexpectedly high rate of 23-24 percent, the oil minister said on Wednesday, causing shortages in some regions. In the April-June quarter diesel sales by oil firms rose sharply, registering annual growth of nearly 18 percent, largely due to use of diesel for power generation. |
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Thursday, 14 August 2008 |
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AP, WASHINGTON -- Retail sales fell in July, the weakest performance in five months, as shoppers shunned autos and other big ticket items. The Commerce Department reported Wednesday that retail sales dipped 0.1 percent last month when a variety of economic woes combined to blunt the impact of billions of dollars in government stimulus payments to U.S. households. |
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Thursday, 14 August 2008 |
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AP, NEW YORK -- Stocks fell sharply for a second session Wednesday after the government reported retail sales fell in July to their weakest levels in five months and as oil prices advanced. The Dow Jones industrial average fell about 150 points. The retail figures fell short of expectations and fed investors' anxiety about the health of the industry and consumers, whose spending is the key driver of the economy. |
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Thursday, 14 August 2008 |
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Deere & Co., the world's largest of maker of farm machinery, said Wednesday third-quarter profit rose 7 percent as high crop prices spurred stronger sales of tractors and harvesting equipment, reports AP. But lower sales of its consumer, construction and forestry equipment, coupled with higher costs of raw materials such as steel and rubber, hurt the company, which missed Wall Street earnings estimates for the second straight quarter. |
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Thursday, 14 August 2008 |
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AP, NEW YORK -- Oil prices are rising after the government said U.S. crude supplies fell unexpectedly last week. Light, sweet crude for September delivery is up $1.84 at $114.85 a barrel on the New York Mercantile Exchange. The Energy Information Administration says crude stockpiles fell by 400,000 barrels to 296.5 million barrels for the week ending Aug. 8. |
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Thursday, 14 August 2008 |
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NEW DELHI, Wed Aug 13,(bdnews24.com/Reuters) - India's diesel demand is growing at an unexpectedly high rate of 23-24 percent, the oil minister said on Wednesday, causing shortages in some regions. In the April-June quarter diesel sales by oil firms rose sharply, registering annual growth of nearly 18 percent, largely due to use of diesel for power generation. |
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Thursday, 14 August 2008 |
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RAYONG, Thailand, Aug 13 (bdnews24.com/Reuters) - GM chief Rick Wagoner said there was significant interest in the auto maker's planned sale of up to $4 billion of assets as it battles record losses and falling sales, but no deals were expected soon. General Motors Corp is struggling against an accelerating downturn in its home market and high oil prices that have hammered sales of its trucks and SUVs, triggering a $15.5 billion quarterly loss, the third-largest in its 100-year history. |
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Thursday, 14 August 2008 |
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New York, Aug 13 (bdnews24.com/Reuters) - A consortium led by Goldman Sachs Group Inc has agreed to pay about $1.5 billion for a number of ABN AMRO's private equity assets, the Wall Street Journal said Wednesday. On Monday, Belgian-Dutch financial services group Fortis said that together with Britain's Royal Bank of Scotland Group and Spain's Banco Santander, it had sold a number of ABN AMRO private equity assets to a Goldman Sachs-led consortium |
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Wednesday, 13 August 2008 |
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AP, NEW YORK -- The dollar rally took a breather Tuesday after Washington said the U.S. trade deficit shrank and exports rose to a record high, while oil futures edged higher. The 15-nation euro traded almost flat at $1.4926 early in New York, edging lower from $1.4928 in late New York trading Monday. Earlier, the euro zone currency hit a new six-month low of $1.4813. The 15-nation euro fell below $1.50 on Friday for the first time since February. |
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Wednesday, 13 August 2008 |
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Emily Kaiser WASHINGTON, Aug 12 (bdnews24.com/Reuters) - It has been one of the most predictable trades on Wall Street all year. When oil prices go down, stock markets go up, and vice versa. If the stock market is a reflection of the broader economy, then only half of that equation makes sense. Oil inflicts heavy and immediate economic pain on the way up, but provides slower and smaller benefit on the way down. |
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Wednesday, 13 August 2008 |
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SINGAPORE, Tue Aug 12,(bdnews24.com/Reuters) - Oil fell more than $1 a barrel on Tuesday as part of a broader commodities sell-off on the firmer US dollar, which countered concerns over possible supply disruptions due to the Russia-Georgia clash. Worries over slowing global demand also put prices under pressure, after world No. 2 consumer China posted a surprise drop in July crude imports. |
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Wednesday, 13 August 2008 |
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AP, NEW YORK -- Stocks pulled back Tuesday as oil prices rebounded and losses from JPMorgan Chase & Co. raised more concerns about the financial sector. Oil rose after BP Plc said it shut down an oil pipeline that runs through Georgia as a precautionary measure due to the fighting between Georgian and Russian troops. |
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Wednesday, 13 August 2008 |
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AP, BEIJING -- China's politically volatile inflation eased in July as sharp rises in food costs slowed, according to data reported Tuesday, giving Beijing more leeway to try to boost slowing economic growth. Consumer prices rose 6.3 percent in July over the same month last year, the National Bureau of Statistics reported. That was driven by a 14.4 percent rise in foods costs, though that rate was down from 17.3 percent in June. The overall rate, the lowest in nearly a year, was a decline from June's 7.1 percent.
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