Bangladesh News

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Jun 26th
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Dhaka, Yangon to avoid double taxation PDF Print E-mail
Wednesday, 08 October 2008

Deal to be signed

Staff Correspondent

Bangladesh and Myanmar will sign a deal to avoid double taxation for a boost to trade between the two neighbours, the foreign adviser said Tuesday.

The agreement is likely to be signed later in the day at the Chief Adviser's Office during bilateral talks.
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Saifur denied bail PDF Print E-mail
Wednesday, 08 October 2008

Asked to surrender in lower court

Staff Correspondent

The High Court on Tuesday refused former finance minister Saifur Rahman anticipatory bail in the Barapukuria coalmine graft case and ordered him to surrender in the lower court within four weeks, instead.

The vacation bench of justices AKM Fazlur Rahman and Abdul Awal gave the order.
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Education links can drive development: Moriarty PDF Print E-mail
Wednesday, 08 October 2008

US envoy James F Moriarty emphasised strong links between government, universities and the private sector to drive development and economic growth in an address to the Asia Regional Higher Education Summit in the capital on Tuesday, reports bdnews24.com.

"Building and establishing these networks will lead to new and innovative ideas for research, teaching and business development that will support social and economic growth," ambassador Moriarty said at the first such regional conference, organised by USAID at the city's Westin Hotel.
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Aug 21 blasts trial reset for Oct 14 PDF Print E-mail
Wednesday, 08 October 2008

Agency

The trial of the two cases on the August 21 grenade attack has been deferred again, to Oct. 14, after pro-Awami League lawyers sough time to defend the plaintiff.

Judge Md Masdar Hossain of Speedy Trial Tribunal-1, Dhaka, on Tuesday granted time petitions of the Awami Ainjibi Parishad lawyers.
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UK MPs pledge fair immigration law PDF Print E-mail
Wednesday, 08 October 2008

Visiting British MPs have promised a "fair and transparent" immigration system that will help the UK curry industry, run and owned mostly by Bangladeshis, reports bdnews24.com

The industry leaders say they are currently facing a shortage of skilled people.
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Oil rebounds to $89 PDF Print E-mail
Wednesday, 08 October 2008

AP, SINGAPORE - Oil prices rebounded to around $90 Tuesday in Asia after plunging to an 8-month low Monday on concerns a significant slowdown in global economic growth will undermine demand for crude.

"Prices have moved so far, so fast," said David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney. "I certainly wouldn't say the bounce today is indicative that we've reached a bottom in oil prices."
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Toll rises to 17 in latest Pak attack PDF Print E-mail
Wednesday, 08 October 2008

REUTERS, ISLAMABAD - The death toll from a suicide attack on a Pakistani opposition politician's home rose to 17, police said on Tuesday, a day after the bomber struck in the town of Bhakkar, deep in the central province of Punjab.

Investigators said they found the head of the bomber, and from its appearance he appeared to come from the nearby militant-infested tribal lands.
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Nearly 60 militants killed in Afghanistan PDF Print E-mail
Wednesday, 08 October 2008

REUTERS, KABUL - U.S.-led coalition and Afghan security forces killed nearly 60 militants during separate clashes in southern Afghanistan, the U.S. military and a police official said on Tuesday.

Violence has surged in the war-torn country with some 3,800 people, a third of them civilians, killed as a result of the conflict by the end of July this year, according to the United Nations.
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UK delegation visits Dhaka Oct 6-9 PDF Print E-mail
Monday, 06 October 2008

Examines impact of points based migration system

Staff Correspondent

A parliamentary delegation from the UK's Home Affairs Committee will visit Bangladesh from October 6 to 9.

The delegation, headed by Keith Vaz MP, will visit Dhaka and Sylhet to examine the impact of the newly introduced points-based system for migration to Britain, said a statement issued by the British High Commission in Dhaka on Sunday.
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Hasina parole extended until Nov 6 PDF Print E-mail
Monday, 06 October 2008

Bdnews24.com

The government has extended the parole of ailing former prime minister Sheikh Hasina by another month.

"In continuation with the earlier release on parole Sheikh Hasina's parole has been extended from October 6 to November 6," a home ministry order on Sunday said.
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PDP in favor of delayed polls under emergency PDF Print E-mail
Monday, 06 October 2008

Staff Correspondent

The Progressive Democratic Party has asked the government to push back general elections slated for Dec 18, questioning whether 'good leadership' can arise in the country when "the two rival political forces have been rehabilitated over the last few months"..

PDP chairman Ferdous Ahmed Quarishi, at a press conference Sunday, also demanded a referendum in November and that the general election be held under emergency
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Tata's cheap car woes fuel debate on India's industrial drive PDF Print E-mail
Monday, 06 October 2008

AFP, NEW DELHI - A decision by the giant Tata Group to shift a factory building the world's cheapest car after angry farmer protests has refueled debate about India's troubled industrialisation push.

The company said late last week it was pulling the Nano car project out of West Bengal state, even though the plant near the state capital Kolkota was 90 percent completed.
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Europe fights financial storm as bank deal collapses PDF Print E-mail
Monday, 06 October 2008

AFP, PARIS - The leaders of Europe's four main economic powers vowed to protect fragile banks in their fight against the global credit crisis as the biggest rescue in German financial history collapsed.

France, Germany, Britain and Italy put on a united front, promising a more coordinated approach to the credit crunch, although Germany's Chancellor Angela Merkel insisted states would mainly act individually.
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BSTI to test Cadbury imports PDF Print E-mail
Monday, 06 October 2008

Bdnews24.com

Bangladesh Standards and Testing Institution has collected samples of Cadbury's chocolate bars imported from five countries to test for the contaminant melamine, in the continued fallout from the Chinese milk-scare.

The BSTI director general Md Ajmal Hossain said Sunday: "We collected samples of Cadbury's chocolate imported from India, United Arab Emirates, Singapore, Australia and the United Kingdom to test their ingredients for 'melamine'."
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Fortis: Belgium acts to prevent financial group's collapse PDF Print E-mail
Wednesday, 01 October 2008

The Guardian Online

Europe's top bankers and regulators moved to keep the contagion of collapsing banks spreading from the US and Britain to continental Europe last night when Belgium announced the part nationalisation of Fortis, the Belgian-Dutch banking and insurance group.

Capping a weekend of non-stop emergency meetings to decide Fortis's fate, Yves Leterme, the Belgian prime minister, said Belgium, the Netherlands and Luxembourg would pour €11.2bn (£9bn) into the beleaguered financial services group to try to prevent it becoming the first big casualty of the credit crunch on the continent.
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UK government nationalizes Bradford & Bingley PDF Print E-mail
Wednesday, 01 October 2008

AP, LONDON-- The British government is nationalizing troubled mortgage lender Bradford & Bingley, the Treasury confirmed Monday, taking over the bank's 50 billion pound ($91 billion) mortgage and loan books as turmoil from the U.S. credit crisis spread across Europe.

The sweeping move is intended to preserve financial stability, Prime Minister Gordon Brown told reporters at his Downing Street office.
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US lawmakers battle to salvage bailout PDF Print E-mail
Wednesday, 01 October 2008

AFP, WASHINGTON - US congressional leaders are back in talks Saturday to cobble a massive financial sector rescue deal as the White House called for urgent action and a new bank failure added to the gloom.

Senate Democratic Majority Leader Harry Reid vowed Congress would stay in session, and not adjourn ahead of the November 4 elections, until the deal was done.
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Citigroup to buy Wachovia banking operations PDF Print E-mail
Wednesday, 01 October 2008

AP, NEW YORK-- In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking operations of Wachovia Corp. in a deal facilitated by the Federal Deposit Insurance Corp.

Citigroup will absorb up to $42 billion of losses in the deal, with the FDIC covering any remaining losses, the government agency said Monday. Citigroup also will grant the FDIC $12 billion in preferred stock and warrants.
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Consumer spending weakens as stimulus fades PDF Print E-mail
Wednesday, 01 October 2008

AP, WASHINGTON -- Consumer spending in August turned in the weakest performance in six months, underscoring the threat the economy faces as the government's stimulus program fades into the past.

The Commerce Department reported Monday that consumer spending was unchanged in August, even worse than the small 0.2 percent gain economists had expected. It was the weakest showing since spending was also flat in February.
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Bush confident rescue plan will pass very soon PDF Print E-mail
Wednesday, 01 October 2008

AP, WASHINGTON -- President Bush says he's confident that Congress will pass a financial bailout bill very soon.

He says the $700 billion rescue plan being negotiated on Capitol Hill this weekend is aimed not at Wall Street but Main Street.
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Those behind market crisis should be punished: Sarkozy PDF Print E-mail
Wednesday, 01 October 2008

REUTERS, NEW YORK- Those responsible for the crisis that has swept global financial markets should be punished, French President Nicolas Sarkozy said overnight in his first reaction to the latest bout of economic turmoil.

In an acceptance speech at an award ceremony attended by US and French business leaders, Sarkozy called for the "truth" on the crisis to be uncovered.
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