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Oct 22nd
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Egypt and Pakistan to Boost Trade PDF Print E-mail
Sunday, 23 May 2010

Pakistani Foreign Minister Shah Mehmood Qureshi said on Sunday that his country plans to boost trade with Egypt, during a visit to Cairo where he met with President Hosni Mubarak.

Qureshi, who was accompanied on his trip by several ministers and a large delegation of businessmen, praised the "excellent" relations between Pakistan and Egypt, the official MENA news agency reported.

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PKSF to Rid Micro-Loan of Bad Name PDF Print E-mail
Sunday, 23 May 2010

Three days after lamenting his agency's 20-year legacy, the PKSF chief has said new initiatives were necessary to do away with adverse impacts of micro-credit.

Chairman of the Palli Karma-Sahayak Foundation (PKSF), known as one of the major micro-finance agencies in the country, Qazi Kholiquzzaman Ahmad, however, would not term the new initiatives as an 'exit plan'.

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SingTel, Bharti Look to Tie Together Bangladesh Units PDF Print E-mail
Saturday, 15 May 2010

Singapore Telecommunications said on Thursday it was looking at the possibility of tieing together its and Indian associate Bharti's units in Bangladesh.

"Tower sharing and site sharing and all that will be the first path," SingTel Group CFO Jeann Low said, commenting on the potential to cut costs in Bangladesh now that Bharti is also present in the country.

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Warid Sign Cost-Cutting Deal with Citycell PDF Print E-mail
Monday, 12 April 2010

Warid Telecom and Citycell, two major mobile phone company operators in Bangladesh, will share each others infrastructure, reducing the two companies' costs.

The agreement was signed on Sunday by the Chief Executive Officers of the companies.

Under the deal, Warid will be able to share the infra-structural equipment rooms of Citycell.

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Lafarge Agrees to Pay Up, Resume Chhatak Ops PDF Print E-mail
Monday, 12 April 2010

French multinational Lafarge is expected to pay Rs 600 million to compensate for environmental damage caused by its mining operations in India in order that it may resume raw material supply to its Chhatak cement plant in Bangladesh.

The funds will be spent for re-establishing forest cover denuded by its limestone mining in the north-eastern Indian state of Meghalaya.

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Wife of Mirza Abbas Sent to Jail PDF Print E-mail
Sunday, 11 April 2010

A Dhaka court on Sunday sent to jail Afroza Abbas, wife of the BNP leader Mirza Abbas, in relation to two tax cases for which she had been convicted for 16 years. UPDATED

Judge AK Roy of the Special Court-2 issued the order after she surrendered herself to the court, and he rejected her application for bail.

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Danish businesses to explore power potential PDF Print E-mail
Sunday, 11 April 2010

A team of Danish delegates are exploring the possibility of investment in power and environmental services.

Delegates of 10 power and energy companies from Denmark sat for a day-long meeting with 70 Bangladeshi businessmen in the capital on Sunday.

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Dhaka, Beijing Agree On Closer Trade, Investment Ties PDF Print E-mail
Friday, 19 March 2010

Bangladesh and China will take active measures to expand bilateral trade and ease the trade imbalance

A joint statement, released Friday after prime minister Sheikh Hasina's talks with Chinese leaders in Beijing, said China will offer preferential tariff treatment to more Bangladeshi products and continue to boost bilateral investment and trade.

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Small Plants Add 157MW To National Grid PDF Print E-mail
Friday, 19 March 2010

Seven small power plants, set up with the $50 million World Bank assistance, are adding 157 megawatts of electricity to the national grid.

The plants have gone into production within three years after the project was launched under the Investment Promotion and Financial Facility programme, said WB country director Alan Goldstein during a visit to one of the plants at Elenga in Tangail.

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RanksTel Office Shut Down By BTRC PDF Print E-mail
Friday, 19 March 2010

The telecoms regulator shut down private land phone operator RanksTel on Friday for allegedly running unlicensed VoIP operations.

It is the third telephone company in under a week to be caught in BTRC's drive against the unlicensed Voice over Internet Protocol trade.

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Prices: Minister Blames 'Mafia' PDF Print E-mail
Wednesday, 24 February 2010

Experts on Tuesday warned of rising inflation in wake of spiralling food prices, while the finance minister blamed "syndicates" for the continued hikes.

Unable to explain the recent rocketing price of rice, finance minister AMA Muhith on Tuesday blamed it on collusion of market players.

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Dhaka-Delhi Deal Signed for 1320MW Khulna Plant PDF Print E-mail
Sunday, 21 February 2010

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.

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Sidhirganj Power Plant to Launch with Gas Crisis Unsolved PDF Print E-mail
Sunday, 14 February 2010

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.

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Biman's Non-Stop London Flight Takes Off PDF Print E-mail
Saturday, 06 February 2010

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.

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Toyota Faces Probe; Honda Recalls Models Too PDF Print E-mail
Saturday, 30 January 2010

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.

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Wal-Mart Cuts 11,200 Jobs at Sam's Club PDF Print E-mail
Tuesday, 26 January 2010

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.

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Bangladesh To Continue With Its Own Policies: BB Boss PDF Print E-mail
Saturday, 23 January 2010

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.

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LDCs Need Genuine Market Access: UNESCAP PDF Print E-mail
Thursday, 21 January 2010

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.

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Industrial Park In Mirersharai : Minister PDF Print E-mail
Saturday, 16 January 2010

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.

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Govt Plans Rate Cut on Savings Certificates PDF Print E-mail
Thursday, 14 January 2010

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.

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'World's Largest' Offshore Wind Project Gets Green Light PDF Print E-mail
Saturday, 09 January 2010

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.

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