Bangladesh News

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PSC Chief accused of discrimination, irregularities PDF Print E-mail
Sunday, 28 September 2008

27th BCS examinees want him gone

Staff Correspondent

A group of 27th BCS examinees on Saturday demanded cancellation of the recent exam results and ousting of the PSC chairman, accusing him of discrimination and irregularities.

Mahfuzur Rahman, who had stood first among the customs cadre in the previously published results, read out a written statement to reporters at a press conference at Dhaka Reporters' Unity.
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Gold jumps above $920 PDF Print E-mail
Sunday, 28 September 2008

AP, NEW YORK -- Gold prices briefly jumped above $920 an ounce Friday as a stalled plan to bail out the U.S. financial system unnerved investors and prompted a flight into safe-haven assets. Silver also rose.

In other commodities trading, crude oil turned slightly lower on worries that failure to approve the $700 billion rescue package would deepen the economic crisis and further curtail U.S. energy demand. Agriculture futures also fell.
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Bhola-Laxmipur ferry service resumes PDF Print E-mail
Sunday, 28 September 2008

Our Correspondent

Ferry movement resumed on the Bhola-Laxmipur river route on Saturday after 20 days.

It was halted on Sept 6 due to the reduction of navigability over submerged chars in the Meghna River.

Shah Alam, deputy director of Bangladesh Inland Water Transport Authority (BIWTA), told reporters: "A three-member team (led by Alam) surveyed the route up to Bhola's Ilisha from Laxmipur's Maju Chowdhury Hat from Sept 23-25 and recommended restarting ferry movement with the tide."
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'Banker to poor' has suggestion for bankers to rich PDF Print E-mail
Sunday, 28 September 2008

REUTERS, NEW YORK- If Wall Street's investment banks need help easing their financial woes, they would do well to look to the world's humblest lenders, Nobel Peace Prize laureate Muhammad Yunus said on Friday.

Yunus, nicknamed "banker to the poor," won the Nobel in 2006 for inspiring a global microfinance movement that has lifted millions out of poverty by granting tiny loans.
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'We need a rescue plan' PDF Print E-mail
Saturday, 27 September 2008

Says Bush

AFP, WASHINGTON - US President George W. Bush made a fresh push Friday to unlock stalled negotiations on a massive financial rescue plan, warning "we've got a big problem" and stressing "we need a rescue plan.

"There are disagreements over aspects of the rescue plan --
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Popular anger puts fat cat CEOs on the run PDF Print E-mail
Saturday, 27 September 2008

AFP, NEW YORK - An angry US public and Congress are pushing to snip the rip cord on golden parachutes used by fat cat CEOs to escape Wall Street's mayhem.

Democrats in Congress -- set to resume emergency talks Friday with their Republican counterparts on a 700-billion-dollar (478-billion-euro) bailout for the financial industry -- insisted that any agreed package include restrictions on executive pay.
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Asia's banks may be less pristine than assumed PDF Print E-mail
Saturday, 27 September 2008

REUTERS, SINGAPORE- Asia may not have the last laugh on the global credit crisis after all.

For weeks, many in the region took perverse pleasure in the financial carnage that ripped apart US financial markets and forced a string of bankruptcies and bailouts, secure in the belief that Asia's relatively closed markets were safe.
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Tata Motors shares slip, may sell stakes in units PDF Print E-mail
Saturday, 27 September 2008

REUTERS, MUMBAI- Shares in Tata Motors Ltd fell nearly 5 percent on Friday ahead of the opening of its 41.5-billion-rupee ($892 million) rights issue, with concerns that turbulent markets may hit its fund raising plans.

The offering by India's top vehicle maker, which was pared down from a planned 72 billion rupees, is scheduled to open on Monday.
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India shares to drop as US bailout in chaos PDF Print E-mail
Saturday, 27 September 2008

Reuters, Bangalore– The BSE Sensex is set to fall on Friday, tracking lower Asian markets after the US government's $700 billion bailout plan to revive the financial sector stalled.

Sentiment will also be dented by the collapse of Washington Mutual Inc in the biggest ever US bank failure.
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JPMorgan buys failed Washington Mutual PDF Print E-mail
Saturday, 27 September 2008

AFP, WASHINGTON - JPMorgan Chase took over Washington Mutual after it collapsed in the largest US bank failure ever, adding to the massive pressures on the US financial system.

The savings and loan giant was taken over for 1.9 billion dollars in a deal announced by the US Federal Deposit Insurance Corporation (FDIC) late Thursday.

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Cisco CEO Chambers gets $12.3M 2008 pay package PDF Print E-mail
Saturday, 27 September 2008

AP, NEW YORK -- Not unlike judges at Olympic gymnastic events, the board of Cisco Systems Inc. assigns numerical grades to the performance of the company's executives. Chief Executive John Chambers score for the last fiscal year was a 1.28, on a scale of 0 to 2.

The score reflects the board's belief that Chambers ''performed well in a challenging environment,'' according to a filing by the company Thursday.

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Asian shares mostly lower amid uncertainly over US PDF Print E-mail
Saturday, 27 September 2008

AP, SHANGHAI, China -- Shares fell across Asia on Friday, as investors refrained from major moves while watching to see what will come of a massive U.S. bailout plan to revive the crippled financial system.

The benchmark Nikkei 225 index lost 113.37 points, or 0.94 percent, to 11,893.16 as investors wary over the U.S. government's $700 billion bank rescue plan unloaded shares.
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India open for $80 billion in nuclear business PDF Print E-mail
Saturday, 27 September 2008

AP, MUMBAI, India  -- Indian nuclear energy officials say they would like to do business with GE and other U.S. firms. But if they can't, there's always France and Russia.

Even as a landmark U.S.-India nuclear accord hangs in limbo in the U.S. Congress, the global gates of nuclear trade with India are now open.
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Russia offers Chavez nuclear help amid US tensions PDF Print E-mail
Saturday, 27 September 2008

AFP, ORENBURG, Russia - Venezuelan President Hugo Chavez was to meet Russian counterpart Dmitry Medvedev on Friday after Russia risked Washington's wrath by offering the fierce US foe help developing nuclear energy.

The two were to meet in the city of Orenburg after hawkish Prime Minister Vladimir Putin told Chavez in Moscow on Thursday that Russia was "ready to consider the possibility of cooperation in nuclear energy."
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Modi gets reprieve for Godhra train burning incident PDF Print E-mail
Saturday, 27 September 2008

Agencies

A government-appointed commission has given a clean chit to controversial right-wing chief minister of India's Gujarat state, Narendra Modi, in the Godhra train-burning incident, which had led to the infamous communal riots in 2002.

The first part of the Nanavati Commission report, which was tabled in the Gujarat assembly amidst high drama on Thursday, said that "there is no evidence of the role of CM and any Gujarat minister in this case."
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German commandos arrest two terror suspects on aircraft: police PDF Print E-mail
Saturday, 27 September 2008

AFP, BERLIN - German police commandos arrested two Somali-born terror suspects on a KLM aircraft Friday who media reports said had links to a group behind a foiled 2007 plot to attack US interests.

Security forces boarded the Amsterdam-bound plane with 48 passengers on board at Cologne-Bonn at 6:55 am (0455 GMT) and took a 23-year-old Somali and a 24-year-old German citizen of Somali origin into custody, police spokesman Frank Scheulen said.
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HSBC to cut 1, 100 jobs worldwide PDF Print E-mail
Saturday, 27 September 2008

AP, HONG KONG  -- HSBC Holdings PLC, Europe's largest bank by market value, is cutting 1,100 jobs worldwide in the wake of the financial turmoil, a spokesman said Friday.

The London-based lender is laying off 4 percent of its global banking and market division, with half of them taking place in the bank's operation in Britain, said spokesman Gareth Hewett in Hong Kong.
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Israel asked US for green light to bomb nuclear sites in Iran PDF Print E-mail
Saturday, 27 September 2008

US president told Israeli prime minister he would not back attack on Iran

The Guardian Online

Israel gave serious thought this spring to launching a military strike on Iran's nuclear sites but was told by President George W Bush that he would not support it and did not expect to revise that view for the rest of his presidency, senior European diplomatic sources have told the Guardian.

The then prime minister, Ehud Olmert, used the occasion of Bush's trip to Israel for the 60th anniversary of the state's founding to raise the issue in a one-on-one meeting on May 14, the sources said.

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WaMu is largest US bank failure PDF Print E-mail
Saturday, 27 September 2008

REUTERS, NEW YORK/WASHINGTON- Washington Mutual Inc was closed by the US government in by far the largest failure of a US bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.

Thursday's seizure and sale is the latest historic step in US government attempts to clean up a banking industry littered with toxic mortgage debt.
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UK accused of 'sabotaging' Europe's green energy plans PDF Print E-mail
Saturday, 27 September 2008

Leaked documents show strong pressure being exerted to 'kill the essence' of the EU's renewable energy targets

Britain has been accused of trying to wreck Europe's plan to tackle climate change by lobbying to remove aviation from renewable energy targets, reports The Guardian.

Leaked documents from the council of the European Union show that the UK is exerting strong pressure on other EU governments.
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CA denies constitutional breach, compromise PDF Print E-mail
Saturday, 27 September 2008

Meeting the press in New York

Roving Correspondent

Chief advisor Fakhruddin Ahmed has brushed aside allegations that his interim administration violated the constitution by not staging the general elections by the 90-day deadline.

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