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Investors eye Yahoo`s alternatives to Microsoft PDF Print E-mail
Tuesday, 06 May 2008

REUTERS, New York/San Francisco - Yahoo Inc faced growing pressure on Sunday to find an alternative strategy to Microsoft Corp's $47.5 billion takeover offer after the software maker walked away over a disagreement on price.

Yahoo shares could fall by more than 30 percent on Monday over the breakdown of talks, but that drop could be softened if Wall Street believes Yahoo Chief Executive Jerry Yang has another strategy up his sleeve, analysts said.

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Stocks hit 4-month highs, cheered by US data PDF Print E-mail
Tuesday, 06 May 2008

REUTERS, SINGAPORE - Asian stocks rose to their strongest in nearly four months on Monday and the dollar held on to most of last week's gains after jobs data suggested the US economic slowdown may not be as severe as investors had expected.

Commodities extended Friday's gains, with gold and grains WN8 up in early trade, while Treasuries were flat.
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China may be KFC's salvation as US faces recession PDF Print E-mail
Tuesday, 06 May 2008

REUTERS, SHANGHAI - With a possible US recession looming, Colonel Sanders is turning to China to fill the breach, offering a menu of fried dough and preserved egg porridge alongside the chicken that turned KFC into an American icon.

Beset by falling sales at home, Yum! Brands Inc, owner of the Kentucky Fried Chicken and Pizza Hut brands, is mounting an expansion drive in China that could make the country its biggest source of profit within a decade.

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Global Fund mulls loans to fight AIDS PDF Print E-mail
Tuesday, 06 May 2008

REUTERS, MOSCOW - The Global Fund to fight AIDS, Tuberculosis and Malaria may loan cash to developing countries when they grow too wealthy to qualify for grants, the fund's director, Michel Kazatchkine, said on Sunday.

Including loans in its remit would allow The Global Fund - which has raised about $10.8 billion for donations since 2002 - to extend help to governments and civic groups in heavily infected but increasingly wealthy countries.

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Gold bounces on bargain hunting PDF Print E-mail
Tuesday, 06 May 2008

REUTERS, SINGAPORE - Gold rebounded on Monday as bargain hunters snapped up bullion after a fall to a four-month low last week, but trading was thin in the absence of Japanese speculators.

Gold rose to $861.10/864.10 an ounce from $855.80/857.00 an ounce late in New York on Friday, when it tumbled to $845 an ounce, its lowest since Jan 2, after the dollar jumped on better-than-expected US jobs data.

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Sadarghat back on stream after nine hours PDF Print E-mail
Tuesday, 06 May 2008

Bdnews24.com

The Sadarghat terminal remained closed for more than nine hours Sunday after angry people set fire to two launches on the Buriganga

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AL goes on hunger strike for Hasina's freedom PDF Print E-mail
Tuesday, 06 May 2008

Bdnews24.com

The Awami League Monday went on a symbolic hunger strike to pile pressure on the government to release party chief Sheikh Hasina from prison.

Acting AL president Zillur Rahman said people might "go out of control" if Hasina was not freed. "It is people who will decide the next course of action after our regular programmes end," Zillur said to leaders and workers who were on the hunger strike in Dhanmondi in Dhaka.

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ACC presses charges against Khaleda PDF Print E-mail
Tuesday, 06 May 2008

Niko case

The Anticorruption Commission Monday submitted a chargesheet against former prime minister Khaleda Zia ad 10 others in a Niko scam case, reports bdnews24.com

ACC assistant director SM Sahidur Rahman turned in the chargesheet to the Chief Metropolitan Magistrate's Court for Dhaka. Additional chief metropolitan magistrate Md Golam Rabbani received the chargesteet.

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UK envoy meets Zillur, Delwar to say goodbye PDF Print E-mail
Tuesday, 06 May 2008

Bdnews24.com

Outgoing British high commissioner Anwar Choudhury Monday met with acting Awami League president Zillur Rahman and BNP secretary general Khandaker Delwar Hossain.

The High Commissioner had talks on the current state of the country and upcoming national polls with the leaders in separate meetings. "This is a farewell call.

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Rights group demands judicial probe into CHT arson attacks PDF Print E-mail
Tuesday, 06 May 2008

Bdnews24.com

A rights group on Monday demanded the formation of a judicial commission to investigate the April 20 arson attacks on the houses of indigenous people and Bangalee settlers in remote Sajek area of Rangamati.

Representatives of Nagorik Samaj, a platform for lawyers, politicians, human-rights workers and teachers, visited the scene and pressed the demand at a press conference at Dhaka Reporters Unity.

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CA to address nation in a week: adviser PDF Print E-mail
Tuesday, 06 May 2008

Chief adviser Fakhruddin Ahmed is expected to address the nation in a week to give guidelines on dialogue with political parties, an adviser said Monday, reports bdnews24.com.

The four advisers, who were assigned to coordinate informal talks with the political parties, held a meeting in the office of communications adviser Ghulam Quader.

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City polls in July: Sohul PDF Print E-mail
Tuesday, 06 May 2008

Elections to city corporations and municipalities will be held in July, election commissioner Muhammed Sohul Hussain said Monday, reports bdnews24.com

"An election schedule will be announced after the city corporation ordinance is passed," Sohul told reporters after a meeting of the Election Commission at the EC secretariat.

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Stocks end lower on sell-offs PDF Print E-mail
Tuesday, 06 May 2008

Agency

Stocks finished down Monday due to sell-offs, mostly in banking and leather majors to lock in profits. "A buying spree led majors in pharmaceuticals and chemicals, power, mutual funds and non-bank financial institutions to witness their share prices increase," an official of Anchor Securities told bdnews24.com.

Turnover and the trading volume on the country's twin bourses however rose from the previous day. Market participators termed the day's trading flat and said that everything was looking "quite okay".

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Oil extends rise above $116 a barrel PDF Print E-mail
Tuesday, 06 May 2008

Oil prices edged up Monday, supported by weekend news of an attack on a Nigerian oil installation, but the gains were limited by the recent strengthening of the U.S. dollar, reports agencies.

Royal Dutch Shell PLC spokesman Precious Okolobo said Saturday that attackers hit a flow station belonging to Shell's joint venture in southern Nigeria and that some oil production had been shut down.

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Witnesses: Soldiers kill 2 in Somalia riot over food prices PDF Print E-mail
Tuesday, 06 May 2008

AP, MOGADISHU, Somalia -- Troops opened fire and killed at least two people as tens of thousands of people rioted over high food prices in Somalia's capital Monday.

Several people also were injured in the protest in Mogadishu in this Horn of Africa nation. Prices of rice and other food staples have been rising rapidly around the world, boosted by poor weather in some nations and rising demand.

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Freedom of press is prerequisite for democracy PDF Print E-mail
Tuesday, 06 May 2008

The smooth journey of our free media brought about a healthy change in the country after restoration of democracy in 1991 which is Bangladesh's greatest achievement since independence. Again, the vibrancy and vitality of the media is crucial to our development and advancement. And we have seen better days than the current times because of such state of the press. But if the press is not free, then the nation cannot prosper.

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Microsoft withdraws offer for Yahoo PDF Print E-mail
Monday, 05 May 2008

REUTERS, SAN FRANCISCO - Microsoft Corp walked away from its bid to buy Yahoo Inc on Saturday after the Internet company turned down its offer to raise the price by $5 billion to $47.5 billion.

Microsoft's offer was for $33 a share but Yahoo would not lower its demand below $37, Microsoft Chief Executive Steve Ballmer said. The software company initially bid $31 per share for Yahoo more than three months ago.

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Asia fears lost decade from food price shock PDF Print E-mail
Monday, 05 May 2008

REUTERS, MADRID - Soaring food prices may throw millions of people back into poverty in Asia and undo a decade of gains, regional leaders said on Sunday while calling for increased agricultural production to meet rising demand.

Asia - home to two thirds of the world's poor - risks rising social unrest as a doubling of wheat and rice prices in the last year has slammed people spending more than half their income on food, Japanese Finance Minister Fukushiro Nukaga said during the Asian Development Bank's annual meeting.

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Jute workers call for efforts to revive sagging industry PDF Print E-mail
Monday, 05 May 2008

Bdnews24.com

Labour leaders of the jute industry Sunday pressed the government for immediate measures to revive what they said was the golden industry of Bangladesh.

At a press conference, organised by a committee of jute mill workers in Khulna, they said the past governments had not made efforts to revive the once-profitable industry.

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India says close to clinching ASEAN free trade deal PDF Print E-mail
Monday, 05 May 2008

REUTERS, NUSA DUA, Indonesia - India is close to clinching a free trade deal with Southeast Asian nations, spurred on by a bleak global economic outlook and rising food prices, Trade Minister Kamal Nath said on Saturday.

"We are on the last mile and in the final stage of conclusion," Nath told Reuters after meeting his counterparts from the 10-member Association of Southeast Asian Nations (ASEAN) on the resort island of Bali.

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Over 300 dead as cyclone devastates Myanmar PDF Print E-mail
Monday, 05 May 2008

REUTERS, YANGON - More than 300 people have been killed in military-ruled Myanmar by a Category 3 cyclone that ripped through Yangon and the Irrawaddy delta, where it flattened two towns, officials and state media said on Sunday.

Packing winds of 190 km per hour when it hit on Saturday morning, Cyclone Nargis devastated the former Burma's leafy main city, littering the streets with overturned

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