Bangladesh News

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May 24th
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WTO talks collapse after India and China clash with America over farm products PDF Print E-mail
Thursday, 31 July 2008

Tariffs

The Guardian

Last-ditch talks to salvage a deal in the seven-year Doha round of global trade negotiations broke down dramatically in Geneva last night, after India, China and the US fell out over measures to protect poor farmers.

As recriminations began, the head of World Trade Organisation, Pascal Lamy, warned that the wrangling among the organisation's leading members had allowed a package worth more than $130bn (£65bn) a year in tariff savings to "slip through their fingers".
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Akbar Hossain's son freed from jail PDF Print E-mail
Thursday, 31 July 2008

Bdnews24.com

Ismail Hossain Simon, son of the late shipping minister Akbar Hossain, was freed from jail on bail in the GATCO scam case Wednesday, an official with Dhaka Central Jail said.

Jailor Faruque Ahmed told bdnews24.com that Simon was released as the High Court granted him bail for two months.
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Kuwait to deport 'rogue' Bangladeshi workers PDF Print E-mail
Thursday, 31 July 2008

Vandalism in Kuwait

Desk Report

Kuwait will deport some of the 500 Bangladeshis who were involved in damaging vehicles and attacking the police in the gulf kingdom, an official said Wednesday.

As many as 300 out of the 800 Bangladeshis arrested on charge of creating "trouble" in Kuwait streets have been released for their "innocence", according to the foreign ministry.
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Over 25 militants, 5 soldiers killed in Pakistan PDF Print E-mail
Thursday, 31 July 2008

REUTERS, MINGORA, Pakistan- More than 25 Taliban militants and five Pakistani soldiers have been killed in a fierce clash in the troubled Swat valley in the northwest, a military spokesman said on Wednesday.

The fighting took place overnight in a village near Matta, a known stronghold of militants in the region.
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NBR opens service centre for taxpayers PDF Print E-mail
Thursday, 31 July 2008

The National Board of Revenue Wednesday launched a service centre for taxpayers on Topkhana Road for Dhaka tax zone-7, NBR said in a statement, reports bdnews24.com.

NBR chairman Muhammad Abdul Mazid inaugurated the first service centre for taxpayers.
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Oil up after gas supplies fell PDF Print E-mail
Thursday, 31 July 2008

AP, NEW YORK -- Oil prices are slightly higher, hovering near $123 a barrel, after the government reported that U.S. gasoline supplies fell unexpectedly last week while crude stockpiles fell less than expected.

Light, sweet crude for September delivery is up 74 cents at $122.93 a barrel in morning trading on the New York Mercantile Exchange. The contract had fallen below $121 a barrel earlier in the day.
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Dollar narrowly mixed, gold falls PDF Print E-mail
Thursday, 31 July 2008

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

The euro traded at $1.5586, unchanged from late Tuesday in New York.
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$10,000,000,000 Now $1 in Zimbabwe PDF Print E-mail
Thursday, 31 July 2008

AP, HARARE, Zimbabwe -- Zimbabwe will knock 10 zeros off the country's hyper-inflated currency next month, making 10 billion dollars one dollar, the nation's central bank governor said Wednesday.

President Robert Mugabe immediately warned in a televised address that he will impose a state of emergency if profiteers take advantage of the change on Aug. 1.
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GP submits prospectus to SEC PDF Print E-mail
Thursday, 31 July 2008

Initial public offering

Staff Correspondent

Grameenphone, the country's largest mobile phone operator, submitted its prospectus for an initial public offering to the Securities and Exchange Commission Tuesday.

GP's chief financial officer Arif Al Islam handed the prospectus to SEC chairman Faruq Ahmad Siddiqi.

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A threat to Coca-Cola? Japan sips the eel thing PDF Print E-mail
Thursday, 31 July 2008

Forget cola, lemonade or beer – Japanese people sweltering in the summer heat now have a new canned drink to quench their thirst – made out of eels, reports AP.

The fishy drink Unagi Nobori – which translates as "Surging Eel" – contains eel extract and vitamins found in the fish. The fizzy yellow liquid is believed to be the first mass-produced drink of its kind made in the country.
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Starbucks to cut 1, 000 non - store jobs PDF Print E-mail
Thursday, 31 July 2008

AP, NEW YORK -- Starbucks says it is cutting almost 1,000 non-store jobs by July 29 as part of its bid to re-energize the brand and boost its profit by cutting costs.

In a letter to all employees Tuesday, Chief Executive Howard Schultz said the gourmet coffee chain is reducing the number of positions and partners across the country.
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In Japan, new signs of worsening economy PDF Print E-mail
Thursday, 31 July 2008

AP, TOKYO -- Japan's economy showed more signs of deterioration as government data revealed Tuesday that the unemployment rate inched up and consumers tightened their purse strings amid rising food and oil prices.

Japan's jobless rate in June climbed to 4.1 percent from 4.0 percent in May, the highest level since last September, the Ministry of Internal Affairs and Communications said.
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US accuses China, India of threatening WTO round PDF Print E-mail
Thursday, 31 July 2008

REUTERS, GENEVA- A clash between the United States and two big emerging markets, China and India, over cutting farm and industrial tariffs threatened to derail more than a week of work to salvage a world trade deal.

China and India's "actions have thrown the entire Doha Round, the Doha Development Round, into the gravest jeopardy of its nearly seven year life," US trade official David Shark told World Trade Organization (WTO) members on Monday.
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Ryanair to slash fares 5% PDF Print E-mail
Thursday, 31 July 2008

The Guardian

Ryanair will slash fares by 5% over the winter after abandoning plans to raise ticket prices amid fears that cash-strapped passengers will be turned away by costlier flights.

The average fare at Europe's largest budget carrier will fall from €42 (£33.30) to around €40, reversing a pledge to raise them by €2 in the other direction.

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‘Miles driven in May drop 3.7 pct’ PDF Print E-mail
Thursday, 31 July 2008

REUTERS, WASHINGTON- The number of miles driven on US highways in May fell a record 3.7 percent, or by 9.6 billion, from last year because of soaring fuel costs, the US Transportation Department said Monday.

It was the biggest drop ever for any May, which usually sees increased traffic due to Memorial Day vacations and the beginning of summer. However, high gasoline prices discouraged driving.
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Corruption helps Afghan drug lords evade justice: UN PDF Print E-mail
Thursday, 31 July 2008

REUTERS, KABUL- Corruption in Afghanistan is hobbling efforts to combat the booming opium trade with powerful drug lords evading justice by simply making a telephone call to friends in high places, a United Nations official said on Monday.

Opium production in Afghanistan has risen every year since US and Afghan forces ended Taliban rule in 2001, despite millions of dollars spent on trying to eradicate crops, encourage farmers to plant something else and arrest traffickers.
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Germany braces for first Lufthansa strike in 13 years PDF Print E-mail
Thursday, 31 July 2008

REUTERS, BERLIN- A strike over wages by ground crew and cabin staff at Deutsche Lufthansa is expected to cause disruptions at Germany's 10 largest airports on Monday after a key union voted overwhelmingly to walk off the job.

The Verdi union, which represents 52,000 air industry workers, planned to start the strikes at midnight (2200 GMT) -- but would not reveal in advance where the walkouts would happen to prevent the airline from making plans to thwart the impact.
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Stocks Drop Following Quarterly Reports PDF Print E-mail
Thursday, 31 July 2008

AP, NEW YORK -- Stocks retreated Monday, taking the Dow Jones industrials down more than 100 points as investors watching earnings reports and an uptick in oil found little incentive to buy.

Among the latest companies to report, Verizon Communications Inc. said its second-quarter profit rose 12 percent, although revenue came in short of Wall Street's forecasts. Kraft Foods Inc. said higher prices helped offset rising commodity costs and listed second-quarter earnings nearly 4 percent.
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Tibet tourism recovers in June: Lhasa government PDF Print E-mail
Thursday, 31 July 2008

REUTERS, BEIJING- The number of tourists visiting Tibet recovered to 100,000 in June, the Lhasa city government said on Sunday, after falling to zero after fatal ethnic clashes in March.

Only a handful of foreign tourists have been allowed into Tibet and Chinese visitors have stayed away since protests in mid-March turned into deadly riots in which Tibetans attacked Han Chinese and Hui Muslim shops.
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Keane delight at Liverpool switch PDF Print E-mail
Thursday, 31 July 2008

New Liverpool signing Robbie Keane admits it is a dream for him to sign for the Anfield outfit, reports BBC.

Keane, 28, signed from Tottenham on Monday in a deal worth £20.3m and says he always wanted to play for the Reds.

"I've been waiting for this day since I was a kid. I'm a massive fan, so to be sitting here in a Liverpool tracksuit is a dream come true," said Keane.
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Euro 2008 generates record profits PDF Print E-mail
Thursday, 31 July 2008

AFP, ZURICH, Switzerland - The Euro 2008 football championship generated record profits of 250 million euros (392 million dollars), European football's governing body UEFA announced on Tuesday.

A total financial turnover of 1.3 billion euros was generated during the June 7-29 tournament which was co-hosted by Austria and Switzerland.
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