Bangladesh News

Monday
Oct 23rd
Archive
Obama warns against fear and panic as stocks tumble PDF Print E-mail
Saturday, 11 October 2008

AFP, PORTSMOUTH, Ohio - Democratic White House front-runner Barack Obama warned against "fear or panic" and called for quick action on the Wall Street bailout after world stocks went into free-fall.

The Illinois senator sought to show leadership in the eye of a widening financial storm and shrugged off a searing character attack by Republican rival John McCain, which showed no sign of halting his momentum.
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Adviser meets Khaleda PDF Print E-mail
Saturday, 11 October 2008

Agency

Commerce adviser Hossain Zillur Rahman is having a closed-door meeting with BNP chairperson Khaleda Zia at her Shaheed Moinul Road Friday evening, a staffer at the former prime minister's house said.

The meeting, kept under wraps, started at 7:10pm.
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Land phones with broadband in Dec PDF Print E-mail
Saturday, 11 October 2008

Bangladesh Telecommunications Company Limited will start connecting land phones with broadband internet connections by December, a senior government official said on Friday, reports bdnews24.com.

Telecommunications secretary Iqbal Mahmood told bdnews24.com that internet connections would initially be given to some districts in addition to Dhaka.
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Registration decision after meeting PDF Print E-mail
Saturday, 11 October 2008

Says Delwar

Staff Correspondent

BNP will decide about party registration after its meeting with the government scheduled for Oct. 15 and would not mind if the deadline is pushed back, secretary general Khandaker Delwar Hossain has said.

"It won't hurt anyone if the deadline for registration with the Election Commission is deferred by a few days. The deadline should be shifted, because that will not hamper the election process in any manner," said Delwar.
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Asia share panic after Dow plunge PDF Print E-mail
Saturday, 11 October 2008

Asian markets have opened heavily down in the wake of a plunge by US stocks to their lowest level for five years, reports BBC.

Tokyo's Nikkei-225 index has dropped 10%, while South Korea, Australia, Singapore and Hong Kong all crashed 7% as soon as the markets opened.
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Myanmar, Chittagong businesses agree to boost trade PDF Print E-mail
Saturday, 11 October 2008

MoU signed

Staff Reporter

Myanmar's top level delegation have signed a memorandum of understanding (MoU) with Chittagong businessmen to enlarge trade and communications.

Its national planning and economic development minister U Soe Tha has said his country has taken a raft of measures to up trade with Bangladesh to $500 million.
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Bhuiyan to run elections PDF Print E-mail
Saturday, 11 October 2008

Agency

Former BNP secretary general Abdul Mannan Bhuiyan has said he would run general elections for the sake of the people of his home constituency Shibpur in Narsingdi.

"I am a son of Narsingdi. I was always by their side in their good and bad times and will remain so in future. I will contest the next election for their sake," he said, flanked by leaders of Narsingdi BNP and front organisations.
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Migrants 'feared dead' off Yemen PDF Print E-mail
Saturday, 11 October 2008

About 100 migrants are feared to have drowned after being thrown overboard by smugglers in the Gulf of Aden, the UN refugee agency says, reports BBC.

The migrants were attempting to flee to Yemen from war-torn Somalia but were forced off the boat about 5km (3 miles) from the coast, a UN official said.
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AL to maintain associate organizations PDF Print E-mail
Saturday, 11 October 2008

Clarifies Zillur

Staff Correspondent

Awami League acting president Zillur Rahman has clarified that though the party will not have any affiliate organisations it will maintain associate organisations.

He told reporters Thursday: "There is no scope of confusion regarding associate organisations of Awami League."
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Global mediator Ahtisaari wins Nobel Peace Prize PDF Print E-mail
Saturday, 11 October 2008

REUTERS, OSLO- Finland's former president Martti Ahtisaari won the Nobel Peace Prize on Friday for a decades-long career of peacemaking around the globe from Namibia to Kosovo.

The Norwegian Nobel Committee chose Ahtisaari to receive the $1.4 million prize from a field of 197 candidates "for his important efforts, on several continents and over more than three decades, to resolve international conflicts."
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Dhaka to propose Maitree schedule change PDF Print E-mail
Saturday, 11 October 2008

Long wait trouble

Staff Correspondent

Bangladesh will propose changing the schedule of the Dhaka-Kolkata Maitree Express to make it more attractive and convenient for passengers, say senior railway officials.

Bangladesh wants the train to reach Dhaka on Tuesday and go back to Kolkata on Wednesday, Bangladesh Railway's director general Md Belayet Hossain told this correspondent.
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Oil drops to $82, lowest in a year PDF Print E-mail
Saturday, 11 October 2008

REUTERS, LONDON- Oil fell more than $4 a barrel to a one-year low on Friday, depressed by expectations global demand growth will shrink if the credit crisis pushes the world economy into recession.

Economic weakness spurred the International Energy Agency to cut its forecasts for world oil demand growth for 2008 to its lowest rate since 1993.
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HK cuts rates, but nervous banks stand still PDF Print E-mail
Friday, 10 October 2008

REUTERS, HONG KONG- Hong Kong trimmed its main interest rate on Thursday, effectively taking the total reduction this week to 150 basis points, but failed to prod jittery banks into lowering borrowing costs for even their best clients.

Commercial lenders, including HSBC and its subsidiary Hang Seng Bank, kept prime rates unchanged because the rate cut did not lower borrowing costs on money markets, nearly frozen by US and European bank failures.
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McCain pushes $300 billion mortgage plan PDF Print E-mail
Friday, 10 October 2008

REUTERS, BETHLEHEM, Pennsylvania- White House hopeful John McCain pitched a $300 billion plan to help struggling homeowners on Wednesday as he tried to erode an advantage held by Democratic rival Barack Obama on economic issues.

The day after a sometimes tense second presidential debate, the ailing economy again took center stage in the White House contest.
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Treasury says has power to inject bank capital PDF Print E-mail
Friday, 10 October 2008

REUTERS, WASHINGTON- US Treasury Secretary Henry Paulson said on Wednesday a recently approved financial bailout bill gives him wide authority to inject capital into the banking system and would not rule out having Treasury take an ownership position in banks if necessary.

"We will use all of the tools we've been given to maximum effectiveness, including strengthening the capitalization of financial institutions of every size," he told a news conference ahead of a Friday meeting of Group of Seven finance ministers.
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Aegon to Take $573 Million in Charges PDF Print E-mail
Friday, 10 October 2008

AP, AMSTERDAM, Netherlands -- The insurer Aegon NV said Thursday it will book 420 million euros ($573 million) in charges on bad bonds and other credit assets in the third quarter.

Its shares, which have declined even more than most European financial shares in recent weeks, rebounded 4.7 percent to 4.30 euros ($5.87), still down 64 percent for the year.
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US military admits killing 33 civilians in Afghanistan air strike PDF Print E-mail
Friday, 10 October 2008

Agencies

The US military has admitted killing 33 civilians in an air strike on a village in Afghanistan in August, far more than it has previously acknowledged.

Following the August 22 attack on Azizabad, in Heart province, the Afghan government claimed that 90 civilians, mainly women and children, were killed. This figure was backed by the UN.
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Global stock markets rebound after rate cuts PDF Print E-mail
Friday, 10 October 2008

AFP, LONDON - World stock markets mostly rebounded on Thursday, with London, Paris and Hong Kong rallying three percent following a fresh round of emergency interest rate cuts and after share prices had dived a day earlier.

Hong Kong, South Korea and Taiwan all reduced borrowing costs Thursday, a day after central banks in the United States, Canada, Europe and China slashed their key interest rates in a bid to tackle an escalating economic crisis.
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US warns more banks will fail PDF Print E-mail
Friday, 10 October 2008

The Guardian Online

The US treasury secretary, Henry Paulson, has signalled that the government could invest in banks as it tries to contain the deepening global crisis, as Asian central banks joined in the unprecedented coordinated global rate cut.

Following the concerted interest rate cuts announced yesterday by several central banks, it appears that the US treasury is now considering taking stakes in many US banks.

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Car bomb hits police HQ in Islamabad PDF Print E-mail
Friday, 10 October 2008

REUTERS, ISLAMABAD- A car bomb attack wounded at least eight people on Thursday at police headquarters in the Pakistani capital of Islamabad, a senior police official said.

"I am at the site of the blast. I have seen several people wounded, eight or nine," police official Khalid Mehmood told Reuters.
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Thai court drops charges against protest leaders PDF Print E-mail
Friday, 10 October 2008

AFP, BANGKOK - A Thai court dropped charges of insurrection Thursday against the main leaders of a protest movement bidding to topple the government, two days after the worst street unrest in Bangkok for years.

The decision by the Appeals Court opens the way for them to surrender -- as they have promised to do -- but offers no long-term solution to the political turmoil hobbling the country.
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