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Coco's parole extended PDF Print E-mail
Wednesday, 17 September 2008

Staff Correspondent

Arafat Rahman Coco's parole has been extended by one month, the home ministry said on Tuesday.

The parole has been stretched to Oct 16, with the conditions to remain unchanged.
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Stocks edge up PDF Print E-mail
Wednesday, 17 September 2008

Bdnews24.com

Markets began creeping into positive territory as indices on the country's twin bourses edged up Tuesday with increased investor participation.

Brokerage officials said they dealt with increased numbers of retail investors Tuesday.
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Khaleda sits with alliance leaders PDF Print E-mail
Wednesday, 17 September 2008

Bdnews24.com

BNP chairperson Khaleda Zia sat with top leaders of the four-party alliance Tuesday afternoon to discuss the general elections and dialogue with the Election Commission.

The two-hour meeting of the alliance's top brass ended around 5.30pm.
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More AL, BNP leaders get bail PDF Print E-mail
Wednesday, 17 September 2008

Desk Report

Six BNP and Awami League leaders, facing charges from tax-dodge to extortion to corruption, secured three months' interim bails on Tuesday from the High Court.

Former BNP health minister Khandker Mosharraf Hossain and his wife Bilkis Akhter Hossain, former housing and public works minister Mirza Abbas, former state minister for home Lutfozzaman Babar, former Barisal mayor Mojibur Rahman Sarwar and his wife Syeda Nilima Sarwar, former BNP lawmaker Mosaddek Ali Falu and Awami Jubo League general secretary Mirza Azam were granted bails.
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Oil plunges to $92 in Asia PDF Print E-mail
Wednesday, 17 September 2008

AP, VIENNA, Austria -- Oil prices plummeted Tuesday, falling briefly below $92 a barrel and reflecting market fears that the U.S. credit crisis which brought down brokerage giant Lehman Brothers will drag on global economic growth and restrain demand for crude.

OPEC's production cut of 520,000 barrels a day earlier this month has failed to stem the decline. The 13-nation group said oil demand in the U.S. fell by 800,000 barrels a day last month due to the slow economy and high retail prices.
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US dollar mixed in Europe PDF Print E-mail
Wednesday, 17 September 2008

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

The euro traded at $1.4191, down from $1.4196 late Monday in New York.
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SEC okays 2 IPOs PDF Print E-mail
Wednesday, 17 September 2008

The Securities and Exchange Commission approved two initial public offerings and issued a licence for the country's sixth private asset management company on Tuesday, an SEC official said, reports bdnews24.com.

The decisions came at a board meeting Tuesday, which also decided to cut down the IPO allocation process to five weeks from six, SEC executive director Farhad Ahmed told reporters at his office.

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ADB warns financial crisis could hit Asia's economies PDF Print E-mail
Wednesday, 17 September 2008

REUTERS, MANILA/HONG KONG- Asia's developing economies, the fastest growing in the world, should expand by 7.5 percent this year but financial convulsions in the West could hurt growth, the Asian Development Bank said on Tuesday.

"The risks to Asia today are much, much higher than what we had projected in April," ADB Chief Economist Ifzal Ali told journalists in Hong Kong.
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Financial hardships for most cities to grow in '09 PDF Print E-mail
Wednesday, 17 September 2008

AP, COLUMBUS, Ohio -- Declining property-tax revenues, high energy prices and other financial headwinds will create greater economic hardships in 2009 for most cities across the U.S., a new report says.

City budget officials say they anticipate more layoffs for municipal workers, cutbacks in parks and recreation programs and library hours, and higher fees for everything from garbage pickup to building permits.
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Lehman Brothers files for Chapter 11 protection PDF Print E-mail
Wednesday, 17 September 2008

AP, NEW YORK  -- Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors on Monday and said it was trying to sell off key business units.

The filing was made in the U.S. Bankruptcy Court in the Southern District of New York. The case had not yet been assigned to a judge.
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Central banks pump cash into money markets PDF Print E-mail
Wednesday, 17 September 2008

AP, FRANKFURT, Germany -- Europe's major central banks moved quickly to calm markets Monday, pumping billions of euros and pounds into the financial system to shore up confidence in the aftermath of Lehman Brothers Holdings Inc.'s bankruptcy filing in the United States.

The European Central Bank said it received 51 bids for 90.3 billion euros ($127 billion) on its one-day tender of 30 billion euros ($42.6 billion) with a bid rate of 4.25 percent, a clear sign that demand for cash is over the top.
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Bank of America to buy Merrill Lynch for $50bln PDF Print E-mail
Wednesday, 17 September 2008

AFP, WASHINGTON - Bank of America announced plans Monday to buy investment bank Merrill Lynch for 50 billion dollars in stock, scooping up the Wall Street icon battered by the housing and credit crisis.

The deal creates the world's largest financial services company, Bank of America said.
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Newspapers cry foul over Yahoo - Google ad deal PDF Print E-mail
Wednesday, 17 September 2008

AP, PARIS  -- The World Association of Newspapers says it opposes a pending deal on advertising between Yahoo Inc. and Google Inc. The Paris-based group wants European and U.S. regulators to block the deal on antitrust grounds.

WAN says the agreement would reduce the cost of paid search advertising and lower revenues for newspapers' and others' Web sites, which receive payment from the online giants.
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Banks roll out $70 billion loan program PDF Print E-mail
Wednesday, 17 September 2008

AP, NEW YORK -- A group of global banks and securities firms announced late Sunday a $70 billion loan program that financial companies can tap to help ease a credit shortage that threatens global financial markets.

The ten banks, which include JPMorgan Chase & Co. and Goldman Sachs Group Inc., said they were committing $7 billion each for the pool.

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Thaksin brother-in-law nominated for Thai PM PDF Print E-mail
Wednesday, 17 September 2008

The Guardian Online

Thailand's ruling party today agreed to choose the brother-in-law of the ousted prime minister Thaksin Shinawatra for the country's top job.

Anti-government protesters immediately dismissed his nomination, heralding further unrest. The People's Alliance for Democracy (PAD), whose activists have occupied the prime minister's Bangkok compound for almost three weeks, had originally demanded the former prime minister Samak Sundaravej step down, accusing him of being a corrupt Thaksin puppet.
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World shares plunge on Lehman Brothers bankruptcy PDF Print E-mail
Wednesday, 17 September 2008

AFP, LONDON - Europe's leading stock markets dived more than five percent on Monday on concerns over the battered world economy as Wall Street giant Lehman Brothers filed for bankruptcy.

Major central banks, led by the US Federal Reserve, rushed to inject tens of billions of dollars into money markets as Asian indices also closed sharply lower and Gulf markets shed up to seven percent in value.
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Ramadan alms-giving sparks fatal stampede in Indonesia PDF Print E-mail
Wednesday, 17 September 2008

At least 23 dead

At least 23 people were killed today when a stampede broke out as crowds of poor Indonesians fought over alms handed out as a Ramadan gift, reports The Guardian.
 
The dead, mostly women, were crushed against railings or trampled as a crowd of several thousand surged forward to receive the money in the east Java town of Pasuruan.
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NATO chief arrives in Georgia PDF Print E-mail
Wednesday, 17 September 2008

AFP, TBILISI - NATO Secretary General Jaap de Hoop Scheffer arrived here on Monday to show support after last month's conflict with Russia and discuss the country's NATO membership bid.

The NATO chief was met at the steps of his plane by Georgian officials
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US-led troops repelled from Pakistani border: officials PDF Print E-mail
Wednesday, 17 September 2008

AFP, PESHAWAR, Pakistan - US-led coalition troops based in Afghanistan tried to cross into a Pakistani tribal area in helicopters but were repelled after warning shots were fired, local officials said Monday.

The incident happened about 100 metres (yards) from South Waziristan late Sunday on the Afghan side of the border, but there were no casualties.
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Zimbabwe political rivals sign historic power-sharing deal PDF Print E-mail
Wednesday, 17 September 2008

AFP, HARARE- Zimbabwe's leaders signed a historic deal Monday that will see President Robert Mugabe share power with his arch-rival in a bid to resolve a ruinous political crisis in a country in economic meltdown.

South African President Thabo Mbeki, who brokered the deal, however said later in the day that the unity government had not yet been finalised, calling on the two parties to do so as soon as possible.
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Ten-time Paralympics shooter sets sights on 2012 PDF Print E-mail
Wednesday, 17 September 2008

AFP, BEIJING  - Australia's Libby Kosmala has competed in an astonishing ten Paralympic Games -- but the sharp shooter has no intention just yet of locking up her guns, with London 2012 firmly in her sights.

Kosmala first competed at the Heidelberg Games in 1972 but her involvement in the Paralympics goes back even further, with a stint as secretary to the Australian team in Tel Aviv in 1968, although she was not selected to compete.
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