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Dhaka Eyes DF Access To India For 232 Products PDF Print E-mail
Wednesday, 06 January 2010

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.

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IMF Forecasts Rising Commodity Prices in 2010 PDF Print E-mail
Saturday, 02 January 2010

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.

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Frontier Markets to be Hidden Treasure of 2010 PDF Print E-mail
Saturday, 02 January 2010

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.

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Govt Extends Ban on Rice Export PDF Print E-mail
Friday, 01 January 2010

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.

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A Rollercoaster Year For Investors PDF Print E-mail
Thursday, 31 December 2009

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).

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Govt Buying Power From India PDF Print E-mail
Wednesday, 30 December 2009

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.

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Prices of Essentials Lowest in S Asia, Claims Ministry PDF Print E-mail
Wednesday, 30 December 2009

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.

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Int'l Trade Fair: EPB Eyes Rising Export Orders PDF Print E-mail
Tuesday, 29 December 2009

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.

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After Economic Storm, Asia Faces 2010 Political Risks PDF Print E-mail
Sunday, 27 December 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.

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Dhaka Stocks Rally on Financials PDF Print E-mail
Sunday, 27 December 2009

Dhaka stocks opened the week in an upbeat mood as the bourse's benchmark index gained by one percent.

The general index or the DGEN ended on 4475.44, rising by 46.25 points or 1.04 percent from previous day's closing.

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Govt Mulls OMS Again PDF Print E-mail
Sunday, 27 December 2009

Food minister Abdur Razzak said that Open Market Sales (OMS) of rice might be resumed to ensure price stability.

The minister, speaking at a seminar Saturday on food price inflation, said the government has undertaken to distribute around 26 lakh metric tonnes of food grains under the social security net programmes, "even though foreign aid has been reduced."

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Massive Power Grid Boost 'Within 3 Months' PDF Print E-mail
Friday, 25 December 2009

The government hopes to add another 1,360 megawatts to the power-starved national grid within the next three months, the state minister for power said Thursday.

State minister Enamul Haque told a meeting of the parliamentary standing committee on power that the government would be able to add at least 4,000 MW during its five-year term, ending in 2014, to reduce power outages and boost industrial production.

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FM Hints At a Cut in IPO-Capital Ratio PDF Print E-mail
Wednesday, 23 December 2009

Finance minister AMA Muhith has hinted at lowering the proportion of paid-up capital in offloading of a company share to prop up the stock market.

On November 5, the finance ministry decided that from now on a company will have to go for launching initial public offering (IPO) with minimum of 40 percent of its paid up capital.

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Abu Dhabi Gives Dubai $10 Bln In Surprise Bailout PDF Print E-mail
Wednesday, 16 December 2009

Abu Dhabi bailed out neighbouring Dubai on Monday with $10 billion in surprise aid for debt-laden Dubai World, driving stock markets higher, but Dubai said creditors still needed to approve a standstill on outstanding debt.

Dubai said $4.1 billion of the money received from Abu Dhabi was allocated to property developer Nakheel to repay its Islamic bond maturing on Monday. Nakheel said it would repay the bond over the next two weeks.

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BRTA online tax collection hits snag PDF Print E-mail
Saturday, 12 December 2009

The progress in introduction of online collection of vehicular tax, an initiative taken about one and a half years ago, is painfully slow.

Bangladesh Road Transport Authority (BRTA) officials said the tender proposals submitted by firms seeking to provide the online system is still being evaluated.

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ADP To Be Revised Early PDF Print E-mail
Friday, 11 December 2009

The government will revise its Tk 30,500 crore Annual Development Plan after the first half of the fiscal year. Planning secretary Habibullah Majumder said Wednesday that the ADP would be revised and amended between Jan 15-20, five months ahead of the usual June revision.

Majumder also said the rate of ADP implementation in the first four months (July to October) of the fiscal year was "satisfactory".

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Govt Finalises PRSP PDF Print E-mail
Wednesday, 02 December 2009

The government has finalised the second Poverty Reduction Strategy Paper (PRSP) for the next one and a half years. The implementation of the second PRSP during the period between Jan 01, 2010 and June, 2011 will cost Tk 2814.81 billion.

Finance minister AMA Muhith disclosed this on Wednesday after a meeting on the second PRSP at the planning ministry in the capital.

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$3bn Mongla Port Deal Inked PDF Print E-mail
Wednesday, 02 December 2009

Mongla Port Authority on Wednesday signed a memorandum of understanding worth around Tk 21,000 crore ($ 3 billion) with a Singaporean company to develop the second largest seaport of the country.

Mongla Port Authority chairman M Faruque and David Wignall Associates Pte Ltd's chief executive David Wignall signed the MoU at the shipping ministry.

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RMG units asked to clear back pay before Eid PDF Print E-mail
Sunday, 22 November 2009

The government has urged garment factory owners to pay workers all arrears due up to October, and half month's salary for November and festival bonus before the Eid-ul-Azha.

Any industry owner failing to comply with the directive would be legally dealt with, warned labour, expatriate welfare and overseas employment minister Khandaker Mosharraf Hossain on Sunday.

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GP shares debut with 'rational price' PDF Print E-mail
Tuesday, 17 November 2009

Grameenphone shares debuted on the country's twin bourses on Monday after a long wait but the prices were not as high as some shareholders had expected them.

Prices of the biggest-ever IPO in Bangladesh's history opened at Tk 160 on the Dhaka Stock Exchange, surged to Tk 195 at one point before ending on Tk 177.30.

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