Bangladesh News

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Jun 24th
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Chittagong customs in for full automation in 3 months PDF Print E-mail
Thursday, 25 September 2008

An official says

Staff Reporter

Chittagong Customs House will have a fully automated taxation system in three months as major problems have been fixed , an official says.

He says a full automation would greatly help to curb irregularities and corruption at the customs house in the port city.
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Ctg importers release recon cars ending long wait PDF Print E-mail
Thursday, 25 September 2008

Barrier of new release procedure

Staff Reporter

Chittagong importers have resumed the process of releasing reconditioned vehicles against bank guarantees, after a hiatus of one month and 23 days, though they are wary about the complexities of the new release procedure.

Chittagong Customs House sources said papers were being issued on Tuesday for releasing cars after scrutiny of bank guarantees.
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Truth Commission extends deadline for filing mercy petitions to Oct 30 PDF Print E-mail
Thursday, 25 September 2008

Poor response, numerous cases cited as cause

Staff Correspondent

The Truth Commission has extended the deadline for filing mercy petitions to Oct. 30 in the wake of poor response, its chairman said on Wednesday.

"The commission has received complaints against petty officers. Have the top-level officials not committed corruption?" Justice Habibur Rahman Khan said in a weekly press briefing.
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Majority RMG houses pay on time PDF Print E-mail
Thursday, 25 September 2008

Claims BGMEA

Staff Correspondent

Bangladesh Garment Manufacturers and Exporters Association has claimed that the vast majority of ready-made garment units pay their workers on time.

"I would like to assure you that almost 95 percent of garment factories pay their workers better than just the minimum wage and they do so diligently every month without fail," BGMEA chief Anwarul Alam Chowdhury Parvez said Wednesday.
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Dhaka asks for Commonwealth polls mission PDF Print E-mail
Thursday, 25 September 2008

Bdnews24.com

Bangladesh has requested the Commonwealth to send a polls observation mission for the December general elections, the foreign adviser said in a statement Wednesday.

"The Commonwealth secretary general agreed to visit Bangladesh in the last week of October," foreign adviser Iftekhar Ahmed Chowdhury said in a press statement, after meeting the Sharma Tuesday at the sidelines of the United Nations General Assembly in New York.
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Kolkata flight takes off PDF Print E-mail
Thursday, 25 September 2008

United Airways

Staff Correspondent

Private airline United Airways' maiden flight to Kolkata took off Wednesday, said a press release.

The airline will operate one round-trip everyday from Dhaka to the Indian city.
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Defamation suit against NBR boss PDF Print E-mail
Thursday, 25 September 2008

Our Correspondent

An income tax lawyer has sued the National Board of Revenue chairman Md Abdul Majid for libel.

Advocate Sadique Hossain filed the defamation case on Wednesday at Mymensingh judicial magistrate's court, accusing the NBR boss of making 'dishonourable and libelous' remarks about income tax lawyers.s.
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World leaders seek talks on financial crisis, multilateral reforms PDF Print E-mail
Thursday, 25 September 2008

AFP, UNITED NATIONS - World leaders demanded urgent steps to contain the global financial crisis and a sweeping reform of multilateral institutions, including the Security Council, during the UN General Assembly's annual debate.

A ministerial meeting of six major powers trying to scale down Iran's nuclear ambitions, scheduled for Thursday on the sidelines of the UN General Assembly, was meanwhile called off after Russia said it would not take part.
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Three firms win WiMAX licences PDF Print E-mail
Thursday, 25 September 2008

Desk Report

Three companies, Bangla Lion Communications, Brac Bdmail Network Ltd and Aguri Wireless Broadband Bangladesh Ltd, have won licences to operate WiMAX or Broadband Wireless Access in Bangladesh, a BTRC official said Wednesday.

The three firms purchased the licences in auction for Tk 215 crore, Bangladesh Telecommunication Regulatory Commission media consultant Abbas Faruk told bdnews24.com.
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Oil rises above $108 PDF Print E-mail
Thursday, 25 September 2008

AP, LONDON -- Oil prices rose above $108 a barrel Wednesday as investors waited for details of a proposed $700 billion plan to buy bad mortgage debt and stabilize the U.S. financial system.

Oil traders are scrutinizing the plan because of its possible impact on the global economy -- and demand for oil.
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GP, BPO seal SIM deal PDF Print E-mail
Thursday, 25 September 2008

Agency

GrameenPhone and Bangladesh Post Office (BPO) have closed a deal that allows the country's largest mobile phone operator to supply over 24,000 SIMs to staff working in more than 8,000 post offices countrywide.

GP chief executive officer Anders Jensen and BPO director general Mobasherur Rahman inked the agreement on Wednesday at the city's Westin Hotel.
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GP CEO to call it quits by year-end PDF Print E-mail
Thursday, 25 September 2008

Staff Correspondent

GrameenPhone CEO Anders Jensen, less than a year into the job, has said he is leaving the company for "personal reasons", according to senior company officials.

A media announcement has not been made yet, but colleagues have been notified that he will be calling it quits by the end of the year, they said Tuesday.
 
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Stocks end flat PDF Print E-mail
Tuesday, 23 September 2008

Bdnews24.com

Markets ended almost flat Monday, after trading in positive territory the previous day on announcement of a date for national polls.

Brokerage house officials said banks and insurers closed down along with mutual funds, which rose heavily on Sunday.

Meanwhile, power and non-bank financial institutions enjoyed gains.
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Paulson urges quick action on $700 billion bailout PDF Print E-mail
Tuesday, 23 September 2008

AP, WASHINGTON -- The Bush administration insisted Sunday that Congress must move quickly to approve what one lawmaker called the ''mother of all bailouts'' -- a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation's credit markets.

Congressional leaders endorsed the plan's main thrust, saying passage might occur in a matter of days.
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Unrest has investors questioning risk fundamentals PDF Print E-mail
Tuesday, 23 September 2008

AP, BOSTON -- A financial crisis being described as the worst since the Great Depression has left investors thinking far beyond the realm of whether it's time to buy or sell.

No matter how close they are to retirement, many are considering getting out of the stock market entirely by shifting to cash or even gold, believing the market is so shaky they're willing to take the potential tax and inflation erosion they'll suffer from a quick pullout.
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Ford, Dow execs to announce national summit in '09 PDF Print E-mail
Tuesday, 23 September 2008

AP, DETROIT -- Amid the turmoil on Wall Street, leaders from two global companies hard hit by economic and industrial upheavals are expected to unveil plans Monday for a national convention being held next year to discuss the future of manufacturing, technology, energy and the environment.

Ford Motor Co. Executive Chairman Bill Ford and Dow Chemical Co. Chairman and Chief Executive Andrew Liveris were scheduled to announce The National Summit after the Detroit Economic Club meeting Monday.
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Companies joining to push music on memory cards PDF Print E-mail
Tuesday, 23 September 2008

AP, NEW YORK  -- Just as vinyl once gave way to compact discs as the main physical medium for music, could CDs be replaced now by a fingernail-sized memory card?

Perhaps not entirely, but SanDisk Corp., four major record labels and retailers Best Buy Co. and Wal-Mart Stores Inc. are hoping that albums sold on microSD memory cards will at least provide an additional stream of sales.
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South Africa's Mbeki resigns afer power struggle PDF Print E-mail
Tuesday, 23 September 2008

AP, CAPE TOWN, South Africa - South African President Thabo Mbeki told the nation Sunday that he had resigned, having lost a power struggle to a rival tainted by allegations of corruption but poised now to lead the country.

In a somber but dignified speech focusing on the successes and shortcomings of his nine-year presidency, Mbeki said he had submitted a letter to the speaker of Parliament.
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Asia stocks extend gains on proposed US bailout PDF Print E-mail
Tuesday, 23 September 2008

AP, HONG KONG -- Asian markets extended gains Monday after the U.S. government proposed a $700 billion plan to solve the world financial crisis by rescuing banks from billions of dollars in risky mortgage debt.

In Japan, the Nikkei 225 index was 2 percent higher at 12,157.64 points by midday, while Hong Kong's Hang Seng index added 1.4 percent.
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11 Afghan policemen killed PDF Print E-mail
Tuesday, 23 September 2008

Taliban attack

REUTERS, KABUL - Taliban insurgents have attacked an Indian construction project in the western Afghan province of Herat killing 11 Afghan policemen and wounding several others, a provincial official said on Sunday.

Violence has hit its worst levels in Afghanistan since the Taliban were overthrown in 2001. At least 2,700 people including 1,100 civilians have been killed this year, aid agencies say.
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With Olmert gone, clock starts on Israel coalition PDF Print E-mail
Tuesday, 23 September 2008

AP, JERUSALEM - Israeli Foreign Minister Tzipi Livni wasted no time Sunday working to put together a new government, meeting with potential coalition partners even as outgoing Prime Minister Ehud Olmert formally resigned.

Her ability to move fast in her first task could have far-reaching effects on Mideast peace talks.

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