Bangladesh News

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Stocks head to lower open in 1st day of 2nd half PDF Print E-mail
Thursday, 03 July 2008

AP, NEW YORK -- Wall Street appeared headed for a sluggish start to the third quarter Tuesday, hurt by ongoing concerns about the damage rising oil prices will do to the economy.

Crude oil held near its record high of $143.67 in overnight trading amid concerns about tensions in the Middle East and a weakening dollar. A barrel of light sweet crude jumped $2.43 a barrel to $143.34 in premarket trading on the New York Mercantile Exchange.
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Central bankers unite vs inflation PDF Print E-mail
Thursday, 03 July 2008

REUTERS, BASEL, Switzerland - Central bankers issued a stern warning on Sunday against the dangers of surging inflation, saying rising energy costs risk damaging growth in rich and poor countries alike.

Policymakers attending talks at the annual meeting of the Bank for International Settlements said they were on high alert to the dangers posed by rising inflation and slowing growth, but there was no one-size-fits-all solution.
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British and US companies expected to win Iraq oil contracts PDF Print E-mail
Thursday, 03 July 2008

Guardian

The Iraqi government is to award a series of key oil contracts to British and American companies later today, fuelling criticism that the Iraq war was largely about oil.

The successful companies are expected to include Shell, BP, Exxon Mobil, Chevron and Total.
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Giant Saudi field is key to boosting oil output PDF Print E-mail
Thursday, 03 July 2008

This massive oil field surrounded by the desolate sands of Saudi Arabia's vast eastern desert feels like the middle of nowhere, reports AP.

But what happens over the next year at Khurais, one of Saudi Arabia's last undeveloped giant oil fields, could hold the key to what drivers will pay at the pump for years to come.
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Eurozone inflation spikes to record 4% PDF Print E-mail
Thursday, 03 July 2008

AFP, BRUSSELS - Inflation in the 15 eurozone countries shot up to a record 4.0 percent in June over 12 months amid soaring oil prices, according to a first estimate from the EU's Eurostat data agency on Monday.

The rate, up from 3.7 percent in May, was the highest since the launch of the euro back in 1999 and slightly exceeded analysts' forecasts for 3.9 percent, as polled by Dow Jones Newswires.
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Citigroup to overhaul mgnt bonuses: source PDF Print E-mail
Thursday, 03 July 2008

REUTERS, NEW YORK - Citigroup is planning to overhaul its bonus system for hundreds of top managers, a source familiar with the situation said, confirming a report in the Financial Times.

The Financial Times reported on its Web site on Sunday that Vikram Pandit, chief executive, wanted to change the way bonuses were calculated to reward co-operation across different divisions and the performance of the company as a whole.
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eBay ordered to pay 38.6m for selling luxury fakes PDF Print E-mail
Thursday, 03 July 2008

Times Online

The online auction site has been ordered to pay compensation by a judge in Paris for allowing users to trade counterfeit items
eBay has been ordered to pay €38.6 million compensation to LVMH, the French luxury goods group, for allowing fake versions of its products to be sold on the online auction website.

The decision by a judge in Paris comes a month after eBay lost a similar case against Hermes, another luxury brand, and was ordered to pay €20,000.
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Obama to expand Bush's faith based programs PDF Print E-mail
Thursday, 03 July 2008

AP, CHICAGO - Reaching out to evangelical voters, Democratic presidential candidate Barack Obama is announcing plans to expand President Bush's program steering federal social service dollars to religious groups and -- in a move sure to cause controversy -- support some ability to hire and fire based on faith.

Obama was unveiling his approach to getting religious charities more involved in government anti-poverty programs during a tour and remarks Tuesday in Zanesville, Ohio, at Eastside Community Ministry, which provides food, clothes, youth ministry and other services.
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Mirza Aziz defends fuel price hike PDF Print E-mail
Thursday, 03 July 2008

Bdnews24.com

Finance and planning adviser AB Mirza Azizul Islam Tuesday defended the energy price hike and said it would halt any smuggling of fuels out of the country.

The adviser faced a question on the alleged
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Testimony in Hasina trial remains on hold PDF Print E-mail
Thursday, 03 July 2008

Bdnews24.com

A Dhaka court Tuesday postponed further witness testimony in the barge-mounted power plant case, against former prime minister Sheikh Hasina and others, to July 10.

The Anticorruption Commission filed the case on Sept 2 last year against eight people, including Sheikh Hasina, accusing them of taking bribes of Tk 3 crore in exchange for awarding contracts to set up three barge-mounted power plants during the 1996-2001 Awami League term in office.

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Govt hikes long-haul bus fare PDF Print E-mail
Thursday, 03 July 2008

Bdnews24.com

The government Tuesday reset long-haul bus fare higher at Tk 1.05 per kilometre in the wake of a fuel price hike.

The revised fare means an increase of Tk 0.18 per kilometre per passenger.
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BTCL spins off from BTTB PDF Print E-mail
Thursday, 03 July 2008

The assets and liabilities of the now-dissolved Bangladesh Telegraph and Telephone Board were officially transferred to the newly-formed Bangladesh Telecom Company Limited (BTCL) Tuesday through execution of a formal agreement, reports bdnews24.com.

BTCL and Bangladesh Submarine Cable Company, which made their debut on Tuesday as public limited companies, had been spun off from the BTTB after its dissolution.
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AL, allies protest energy price hike PDF Print E-mail
Thursday, 03 July 2008

The Awami League and other political parties Tuesday urged the government to reverse the decision on an energy price hike, reports bdnews24.com.

The AL, Jatiya Samajtantrik Dal (Inu) and Samyabadi Dal protested the decision of hiking energy prices by 33-37 percent.
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Police want stiff jaywalking fines to ease traffic PDF Print E-mail
Thursday, 03 July 2008

Police are proposing hiking fines for jaywalking by 4,000 percent in a bid to ease the gridlock that cripples the capital Dhaka every day, home ministry officials said on Tuesday, reports agency.

The proposal, which officials said was likely to be approved by the government, calls for fines to be increased to 200 taka ($2.92) from five taka for a single jaywalking offence.
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Oil prices rise above $141 PDF Print E-mail
Thursday, 03 July 2008

AFP, LONDON - Oil prices jumped beyond 141 dollars a barrel on Tuesday after the president of OPEC said there was uncertainty surrounding future investment in facilities to boost crude output.

New York's main oil contract, light sweet crude for August delivery, was up 1.40 dollars at 141.40 dollars a barrel at about 0820 GMT.
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Giraffes, zebras star attractions at Dhaka zoo PDF Print E-mail
Thursday, 03 July 2008

Giraffes and zebras are staple attractions at zoos around the world, but many in impoverished Dhaka are getting their first glimpse of these beasts after a rare upgrade of the city's zoo, reports Reuters.

The zoo recently received 27 animals from South Africa and the response from visitors has been overwhelming, with families flocking to the park to see what many are calling unusual creatures.
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US dollar mixed in Europe PDF Print E-mail
Thursday, 03 July 2008

AP, LONDON -- The U.S. dollar was mixed against other major currencies in European trading Tuesday morning. Gold fell.

The euro traded at $1.5771, down from $1.5775 late Monday in New York.
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US lobbies for Kosovo recognition PDF Print E-mail
Thursday, 03 July 2008

Bangladesh said Tuesday it would consider national interests in recognising Kosovo, a breakaway republic from Serbia, reports agency.

The US has been lobbying for Dhaka's recognition of Kosovo, a Muslim majority state, which declared independence on February 17 with support from the US and its allies, defying Russia and Serbia.
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Forex reserve crosses $6bn mark PDF Print E-mail
Thursday, 03 July 2008

Bdnews24.com

The foreign exchange reserve of Bangladesh Bank has crossed $6.11 billion, according to the latest data provided by the central bank.

On Thursday, the last day of the past week, the central bank recorded $5.96 billion in reserve, which climbed to $6.03 billion on Sunday.
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Charge framing begins PDF Print E-mail
Wednesday, 02 July 2008

Gatco Graft Case

Staff Correspondent

A Dhaka court began formally framing charges Monday against former prime minister Khaleda Zia, her son Arafat Rahman Coco and others in the Gatco graft case.

Public prosecutor Mosharraf Hossain Kajol read
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Adviser relates food security to domestic means PDF Print E-mail
Wednesday, 02 July 2008

Says boosting local output way to achieve food autonomy

Staff Correspondent

Ensuring food security will be possible only by boosting domestic food production, and not through imports, said finance and planning adviser AB Mirza Azizul Islam Monday, at the launch of the 'National Seed Conference and Fair 2008'.

"Industries alone can't help a country attain food security.
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