Global sugar prices are forecast to stay high in the coming year on tight supplies of the commodity in major consumer India, report agencies.
   The average price of sugar at the major international market increased further on Friday, but remained under 28-year highs of 589.90 pounds a tonne reached in early August, report agencies.
   ‘Domestic stocks in India have been drawn down markedly, and demand is likely to stay robust,’ Barclays Capital analyst Sudakshina Unnikrishnan told Agence France-Presse.
   By Friday on LIFFE, London’s futures exchange, the price of a tonne of white sugar for delivery in October rose to 565.90 pounds from 556.40 pounds a week earlier.
   On the New York Board of Trade, the price of unrefined sugar for October gained to 22.91 US cents a pound from 22.25 cents.
   Prices of other essential commodities also rose at the global market on high demands.
   According to reports of news agencies, soya, maize and wheat prices all rose on Friday.
   ‘Newsflow over recent days has been most supportive for the soybean market with a continued robust level of US export demand, especially from China, and a planned week-long strike starting on Friday announced by Argentine farmers,’ said Unnikrishnan.
   Drought in Australia meanwhile supported wheat prices, traders said.
   By Friday on the Chicago Board of Trade, maize for delivery in December rose to 3.31 dollars a bushel from 3.26 dollars a week earlier.
   November-dated soyabean meal — used in animal feed — climbed to 10.07 dollars from 9.73 dollars.
   Wheat for December advanced to 5.05 dollars a bushel from 4.87 dollars.
   The prices of raw materials were mixed this week in cautious trade despite increased signs of global economic recovery.

Navana CNG Limited will make its debut at the Dhaka and Chittagong stock exchanges today under the direct listing regulations.
   The company, main line of business of which is compressed natural gas conversion and CNG re-fuelling, will offload 1,81,50,000 ordinary shares of Tk 10 each through the direct listing method, an alternative way of enlisting to the market, DSE sources said.
   On Wednesday, the Dhaka Stock Exchange set the debut date of the company. Earlier, on July 26 DSE approved the listing application of Navana CNG, a sister concern of Navana group, following a direct listing appeal from the company on May 25.
   Navana CNG will be the third private sector company to be listed under the direct listing regulations.
   Navana CNG’s existing paid up capital is Tk 36.30 crore and authorised capital Tk 50 crore, according to the DSE sources.
   DSE sources said on the first day, trading of the shares of Navana CNG would take place at the spot market bet-ween 10:30am and 1:00pm.
   ‘In the first trading day, the initial 10 minutes will be considered as price build up time,’ the sources said adding that ‘on first day, from 11th minute, ICB Securities Trading Co and Sharp Securities, the seller’s agents, will start selling shares of Navana CNG at the best market price.’ Thereafter, trading will continue based on the market demand.
   Normal trading of the company will start on the third trading day in public, odd lot and block market while there will be no trading on the second trading day to allow the market to distribute the shares traded at the first trading day, the sources said.
   Investors will place an order for minimum of 100 shares and maximum of 500 shares for each order for the first five days of trading. No investor will be allowed to sell the shares in first day, the sources added.

The country has targeted export earnings of $17.6 billion for the current fiscal year, a growth of 13 per cent despite the continuing global downturn, a senior official said on Wednesday.
   ‘This is our projection and it is achievable if everything goes well,’ said Mohammad Shahab Ullah, Vice Chairman of the government’s Export Promotion Bureau.
   Bangladesh’s exports grew 10.3 per cent to $15.56 billion in the 2008-09 fiscal year, the lowest growth in six years, reflecting falling demand as a result of the global economic slump.
   The target for the current fiscal year, which ends next June was set by the EPB after talking with exporters of ready-made garments which account for more than 80 per cent of the country’s shipment.
   ‘They have agreed with our upward projection,’ Shahab, the chief executive of the EPB told Reuters.
   Bangladesh’s ready-made garment exports have done well in the outgoing fiscal year 2008-09 due to a very competitive prices.
   ‘We expect at least a growth similar to previous year from the sector in 2009-10, and I believe the global recession will not be a major hindrance to textile exports,’ he said.’
   Earnings from knit textiles in July to June of the previous fiscal year rose 16.2 per cent to $6.4 billion while exports of woven garments rose 14.5 per cent to $5.9 billion in the same year.
   For the current fiscal year, all the major export products barring petroleum products have been projected to grow, including the top item knitwear at 13.50 per cent, woven garments 13 per cent, leather 30 per cent, medicines 15 per cent and agro-processed food 76.66 per cent.
   Export of frozen food is expected to grow a modest three per cent. Shrimp exports recorded the worst fall in a decade in the last fiscal year and the exporters have said they don’t see any dramatic reversal of fortune.

Garment manufacturers need Taka 2,000 crore as rescue fund to meet urgent requirements ahead of Eid, as workers and employees are mounting pressure on the factory owners for paying two months’ salaries and festival allowances.
   The workers and employees are demanding two months’ salaries and full festival allowance, while traditionally any worker or employee is entitled to get festival allowance for his or her job for minimum one year.
   A general meeting of the garment owners held at the conference room of the Bangladesh Garment Manufacturers and Exporters Association on Saturday observed that the government could release Taka 2,000 crore ahead of Eid from the Taka 5,000 crore stimulus package declared in the national budget 2009-2010.
   It was discussed at the meeting that although the garments are losing orders and prices of RMG items are declining across the globe due to economic recession, the owners have to pay salaries and festival allowances to the workers and employees.
   Under the labour law, there is no provision of paying festival allowances for garments workers, participants at the meeting observed, adding: ‘Even then the RMG owners pay half of basic salary as festival allowance,’ meeting sources said on condition of anonymity.
   They said workers’ leaders in some of garment factories are making illogical demand and mounting pressure on the owners, which they feared might create a volatile situation any time, the sources said.
   The government has so far made commitments of providing assistance to RMG sector, effective measures are yet to be taken, some of the discussants at the meeting said, according to the sources.
   Considering all these, if the government provides rescue funds, then many factory owners who have been put in trouble for failure of making profits due to poor exports and lower prices could overcome the coming volatile situation, they added.
   The RMG owners urged the BGMEA leaders to inform different quarters of the government about the situation for persuading release of the amount as rescue fund.
   They said one-tenth of the lawmakers (31 out of 300 parliamentarians) are represented from the RMG sector and they can play vital role in overcoming the situation through raising the issue at the highest level of the government, the sources said.
   Besides, the participants demanded that the government provide assistance for 270 sick industries in RMG sector from the stimulus package so owners of those industries could overcome the situation.
   Referring to recent unrest in the garment factories the garment owners said appropriate measures should be taken to avoid such incidents and as part of it the payment of salaries and festival allowances should be made ahead of Eid.
   They said, in recent past, various incidents took place with such demands and unrest situation and clashes were created and some factories were set ablaze in Gazipur, Savar and other garments areas.
   They also urged the BGMEA leaders to demand that authorities provide necessary protection in the sector and strengthen securities in the industry sites through deploying sufficient number of law enforcers.
   They also demanded formation of industrial police in the garments factory areas so that no vested quarter could agitate workers with their illogical demands.
   BGMEA President Abdus Salam Murshedy predided over the meeting. Former presidents Anwar Parvez Chowdhury and AFM Fazlul Haque, BGMEA office bearers and about 500 factory owners attended the meeting.

Export-import activities between Bangladesh and India through Benapole land port remained suspended since Saturday morning due to a wildcat strike enforced by a section of workers of Indian Petrapole land port.
   Sources said Indian CPM-backed workers called the strike following a clash between the workers of CPM and Congress at Kalitala parking of the port in the morning.
   The striking workers took position in the port area with sticks and blocked the main road of the port, disrupting the port activities.
   A tense situation was prevailing at the Petrapole land port.

The subscription of the initial public offering of Dacca Dyeing and Manufacturing Company Ltd will begin from today.
   The IPO subscription will continue till September 3. For non-resident Bangladeshis, the deadline will be on September 12, according to DSE sources.
   The company, main business of which is weaving, dyeing, finishing and printing facilities, will float 1.7 crore shares of Tk 10 each totalling Tk 17 crore.
   ICB Capital Management Ltd, a subsidiary of Investment Corporation of Bangladesh, is the manager to the issue.
   After the IPO, total paid up capital of the company will be Tk 45 crore, according to the IPO prospectus of the company.

Becky Lo, Managing Director and Regional Head of Client Delivery, Global Transac-tion Services, Citi Asia Pacific Region arrives in Dhaka today for a two-day official visit.
   During her visit, she is scheduled to meet with senior officials and major clients of the bank, a press release said.
   She is in charge of the group’s account opening, implementation, trade and securities services, and servicing of cash management for corporate and financial institution clients in 18 countries across Asia Pacific. She is based in Hong Kong.
   Becky holds a Bachelors Degree in Social Sciences from the University of Hong Kong and a Master’s Degree in Marketing Management from the Macquarie University, Sydney.
   She is also a certified Project Management Professional and a council member of Certificate Governance Council of Project Management Institute.

The president, Zillur Rahman, on Wednesday urged the business community and entrepreneurs to step forward in ensuring prices of essentials within the purchasing capacity of the common people during the holly month of Ramadan.
   ‘I strongly urged you to perform social responsibility rising above the business mentality,’ he said while a 17-memebr delegation of the Bangladesh Chamber of Industries called on him at Bangabhaban in Dhaka.
   During the meeting, the president said the business community should play a significant role along with the government to ensure basic needs and socio-economic development of the under privileged section of the country’s populace.
   Zillur Rahman said there was no alternative of building more industries for creating adequate employment for the country’s huge number of skilled people.
   ‘We have to put emphasis on establishing labour intensive industries instead of building capital intensive industries in the country,’ he observed.
   The president said the government had already taken steps aimed at establishing special economic zones and industry-park for building promising industries like IT, RMG, textile, ship building, food processing, pharmaceuticals, leather, chemical, toys, jewellery and furniture.
   Besides, the government is also encouraging the expansion of small and medium enterprises for further strengthening the industrialisation process as well as for creating employment in the rural areas, he said.
   ‘I urge upon you all to build industries in these promising sectors,’ the president said.
   Saying that investment is the engine of economic dynamism, the president also urged the local entrepreneurs and the expatriates to invest in the country’s productive and competitive sectors.
   The money of expatriates, which remain idle, needs to be invested in the industry sector as soon as possible, he said.
   The president also underlined the need for utilising country’s human resources properly for smooth industrialisation.
   Referring the government’s ‘Vision-2021’ of increasing industry sector contribution to the GDP up to 40 per cent and rate of labour force to 25 per cent from 16 per cent, the president observed that the BCI could play an important role in his regard.
   Among the members of the delegation, BCI president Shahedul Islam Helal, senior vice-president SM Shahbuddin, vice-president Delwar Hossain Raja, directors Pritee Chakarbarti, Jahangir Alam and SM ALam Mukul spoke on the occasion.
   Helal said mass awareness needed to be created about using Bangladeshi products instead of foreign goods in the interest of flourishing country’s industrialisation. He apprised the president that the BCI had launched awareness-raising activities in this regard with a slogan ‘My Product, My Country’.
   The delegation also apprised the president of different activities of the BCI and sought his cooperation in solving electricity problems and ensuring law and order situation in the industrial areas.

For the second consecutive year, Citi has been awarded the Best Corporate/Institutional Internet Bank in Bangladesh by Global Finance, a news release said on Saturday.
   Among other initiatives, Citibank, NA has introduced an automated e-alert system to ensure secured financial information flow to its clients in Bangladesh.
   ‘We strongly believe that this innovation will help to contribute to the ‘Green Citi’ movement by eliminating paper-based advices, protecting and preserving our environment for next generation’ the release said.
   The release said as the pioneer of internet banking in Bangladesh, Citi continued to lead the way in bringing new solutions and innovative global products into the country such as CitiDirect, Citibanker.com, Infopool, Host-to-Host Solution etc.
   With this recent launch of e-mail based customer statement delivery system, Citi adds an important service to support the clients’ needs, providing superior customer service to ensure delivery of account statements and transaction advices to the designated e-mail addresses of our clients on time, the release said.

The prices of raw materials were mixed this week in cautious trade despite increased signs of global economic recovery.
   The US economy, the world’s biggest, appeared to hold on its path of recovery from deep recession as output shrank at an unrevised 1.0 per cent pace in the second quarter, government data showed on Thursday.
   But doubts about a global economic turnaround resurfaced Friday as Japan’s unemployment rate hit a record high.
   The jobless rate in the world’s second largest economy rose to a worse than expected 5.7 per cent in July, up from 5.4 per cent in June, the Japanese government said.
   New York oil prices spiked to $75.00 a barrel on Tuesday for the first time in 10 months after strong US consumer confidence data, but fell back on profit-taking after failing to break through the key barrier.
   ‘It was very much a knee-jerk reaction,’ said Hanson Westhouse analyst David Hart, adding that there was a lack of buying interest to maintain prices above $75.
   ‘The logical conclusion to draw is that prices are going to go higher,’ he added.
   US consumer confidence rose more than expected in August after two consecutive months of declines, buoyed by a jump in recovery hopes for the coming months, the Conference Board announced on Tuesday.
   The business research firm said its consumer confidence index climbed to 54.1 in August from an upwardly revised 47.4 in July. The rebound in confidence was stronger than the 47.9 reading most analysts had expected.
   ‘Consumer confidence is very closely tied to the US economy — 70 per cent of the economy is driven by consumer spending, and if the consumer is feeling better then that bodes well for the economy — which is good for energy demand,’ said analyst Hart.
   Oil prices went on to lose ground on Wednesday after official data showed a surprise jump in crude inventories in the United States, the world’s biggest energy consuming nation, indicating flagging demand.
   The US Department of Energy said American crude stockpiles rose 2,00,000 barrels to 343.8 million in the week ending August 21, confounding expectations for a 6,00,000-barrel drop.
   Crude futures rebounded Thursday after two days of losses, lifted by a weaker dollar late in the session and rallying US share prices.
   Oil also won support this week from a weaker dollar, which makes dollar-priced crude cheaper for buyers using stronger currencies and therefore tends to stimulate demand and lift prices.
   By Friday on London’s InterContinental Exchange, Brent North Sea crude for delivery in October slid to $72.85 a barrel from $74.32 a week earlier.
   On the New York Mercantile Exchange, light sweet crude for October dropped to $72.70 a barrel from $73.97.
   Gold prices profited from a weaker dollar while platinum and palladium won ‘support from the ongoing supply disruptions in South Africa’, said Barclays Capital analyst Suki Cooper.
   By late Friday on the London Bullion Market, gold advanced to $955.50 an ounce from $952.50 a week earlier.
   Silver climbed to $14.54 an ounce from $14.01.
   On the London Platinum and Palladium Market, platinum gained to $1,243 an ounce at the late fixing on Friday from $1,239.
   Palladium jumped to $290.25 an ounce from $275.
   Base metals prices rallied, with copper reaching a ten-month high and lead the highest level for more than a year.
   ‘Concerns over (lead) supply, owing to potential closures of plants in China supported prices,’ said Commerzbank analyst Eugen Weinberg.
   By Friday on the London Metal Exchange, copper for delivery in three months jumped to $6,518 a tonne from $6,105 a week earlier.
   Three-month aluminium was unchanged at $1,925 a tonne. Three-month lead grew to $2,130 a tonne from $1,846. Three-month tin increased to $14,175 a tonne from $14,050. Three-month zinc climbed to $1,887 a tonne from $1,820. Three-month nickel advanced to $19,525 a tonne from $19,100.
   Sugar prices rebounded but remained under 28-year highs of 589.90 pounds a tonne reached in early August.
   Global sugar prices are forecast to stay high in the coming year on tight supplies of the commodity in major consumer India.
   ‘Domestic stocks in India have been drawn down markedly, and demand is likely to stay robust,’ said Barclays Capital analyst Sudakshina Unnikrishnan.
   By Friday on LIFFE, London’s futures exchange, the price of a tonne of white sugar for delivery in October rose to 565.90 pounds from 556.40 pounds a week earlier.
   On the New York Board of Trade, the price of unrefined sugar for October gained to 22.91 US cents a pound from 22.25 cents.
   Soya, maize and wheat prices all rose.
   ‘Newsflow over recent days has been most supportive for the soybean market with a continued robust level of US export demand, especially from China, and a planned week-long strike starting today (Friday) announced by Argentine farmers,’ said Unnikrishnan.
   Drought in Australia meanwhile supported wheat prices, traders said.
   By Friday on the Chicago Board of Trade, maize for delivery in December rose to $3.31 a bushel from $3.26 a week earlier.
   November-dated soyabean meal — used in animal feed — climbed to $10.07 from $9.73.
   Wheat for December advanced to 5.05 dollars a bushel from $4.87.
   Cocoa prices ended the week lower.
   ‘The weakness came against... the publication of a reputable crop report which forecast a slight increase in the Ivory Coast main crop,’ said Sucden brokers analyst Stephanie Garner.
   By Friday on LIFFE, the price of cocoa for delivery in December fell to 1,818 pounds a tonne from 1,881 pounds a week earlier.
   On the NYBOT, the December cocoa contract dropped to $2,811 a tonne from $2,977.
   Coffee prices traded mixed. By Friday on LIFFE, Robusta for delivery in November climbed to $1,415 a tonne from $1,362 a week earlier.
   On the NYBOT, Arabica for December slid to 123.10 US cents a pound from 127.30 cents.

The US climate bill would cost Valero, the country’s largest oil refiner, more annually than it has ever made in a year, forcing it to warn consumers at filling stations that fuel prices will rise, the company’s top government affairs official said.
   ‘How would we be able to operate?’ Jim Greenwood, a vice president for governmental affairs at San Antonio based-Valero Energy Corp, said about the legislation the House of Representatives narrowly passed in June. ‘I don’t know.’
   He said the bill, which would require refiners to hold or purchase permits for the amount of carbon dioxide their plants and fuels produce, would cost Valero some $6 billion to $7 billion per year.
   That is more than the net income it made during 2006, its best year of net income for refining so far.
   Many oil refiners have complained they would be burdened by extra costs from the bill, which would set up a cap-and-trade market on emissions around 2012. It would give refiners only 2 per cent of the permits to emit greenhouse gases in the early years of program, while utilities would get 30 per cent of the permits to pollute.
   Democratic leaders in the US Senate are expected to introduce their version of the bill next month. It is uncertain whether there would be enough votes to pass it this year.
   Greenwood also took issue with the number of refiner permits in the legislation.
   But he said Valero preferred a radical reworking of the bill to include far more research-and-development money for technologies such as advanced biofuels and carbon capture and storage underground, rather than a reworking of the bill to include more permits for refiners.
   Critics of carbon capture and storage have said burying enough carbon dioxide underground to help slow global warming would require building a pipeline system equal to the size of the current US liquid fuel pipes system.
   But Greenwood said Valero sees it as a top priority. ‘If they can make some breakthroughs ... especially with carbon capture and sequestration, you can halve carbon emissions,’ Greenwood said. ‘It seems to me (the government) ought to be spending money on figuring out how to do that.’
   Valero is letting customers know it believes the bill will boost gasoline prices and is encouraging them to write to lawmakers. The company has printed 100,000 signs with that message and is encouraging franchise owners of its gasoline stations to place them at the top of fuel pumps.
   It hopes such opposition could help persuade moderate Senators to vote against the bill, especially in industrial states. Valero has already installed 1,000 of the signs at stations the company owns, mostly in the US Southwest.
   ‘We have to calculate whether we can pass the climate bill costs through to consumers and what the impact is going to be on the demand for gasoline and operationally how we are going to adjust,’ said Greenwood.
   He said a carbon tax would be more transparent than a cap-and-trade market. Even adding an additional gasoline tax of 10 or 20 cents a gallon would be preferable to cap and trade in which the prices for emitting a ton of carbon could be hard to predict, he said.
   This year Valero bought seven distilleries to make traditional ethanol from corn and has made other investments in companies that plan to make advanced cellulosic ethanol from nonfood crops and fuel from algae.
   But even Valero’s proposed solutions would be no quick fix. Greenwood said advanced fuels and carbon capture and storage are both at least 10 years or more from becoming commercially viable.

Cairn India, a unit of UK-based Cairn Energy Plc, on Saturday began pumping crude from its Mangala oil field in the Rajasthan block, the first major crude oil discovery in the energy-hungry nation in two decades.
   ‘Cairn’s efforts show that the investment climate is very good in India,’ said prime minister Manmohan Singh who turned on the tap. ‘I invite entrepreneurs to make investment in India and the government will extend all support.’
   India is Asia’s third-largest oil consumer and produces about 6,80,000 bpd of crude. It imports over 70 per cent of its oil needs and the government is keen to tap domestic reservoirs to lessen the dependence.
   Cairn is developing three oil fields — Mangala, Bhagyam and Aishwarya — in the Rajasthan block.
   ‘At its peak, crude oil production from this block will be about 20 per cent of the current crude oil production of the country, and will save around 7 per cent of the crude oil import bill and reduce import dependence,’ oil minister Murli Deora said.
   Plateau production from Mangala is expected to reach 125,000 bpd in the first half of 2010, and peak production of 1,75,000 bpd is expected to start in 2011 from the three fields.
   An expanding economy and addition of new refining capacity are raising the demand for foreign oil.
   To boost output, India has offered 70 oil and gas blocks for auction in the latest licensing round. Bids for the blocks will close on Oct 12.
   Cairn India holds a 70 per cent stake in the RJ-ON-90/1 block in western India, while state-run explorer Oil & Natural Gas Corp holds the balance.

Music and Internet worlds merged Friday on San Francisco’s posh Nob Hill as insiders brainstormed about industry rocking Web 2.0 trends from social networking to smart phones with cameras.
   Internet technologies will transform a music industry in which recording studio revenues have tumbled along with CD sales, according to those gathered for an elite Bandwidth Conference.
    ‘The technology is really there to empower the consumer and the artist,’ said Gracenote vice president of product and content management Stephen White.
    ‘It is about creating better experiences around music, and we think the same is true for movies, TV, and other entertainment content.’
   Gracenote specialises in music recognition technology and is used in Apple’s iTunes online shop. Sony bought the California company last year for a reported 260 million dollars.
   CarStars unveiled by Gracenote this year lets drivers pick beloved musicians to be ‘musical guides’ that orchestrate playlists based on what they think best fits a moment, whether it be touring a coast or commuting.
    ‘We see in the future a much better experience; holistic offerings,’ White said.
   Fans will be able to interact with artists in more rewarding ways, White predicted.
   Creative Allies plans to soon launch a test version of software that lets artists hire fans to create anything from concert posters and t-shirt designs to music videos and biographies, according to the startup.
   The amount of money raked in from live concerts has rocketed, triggering an array of commission-based online services for hunting down tickets, according to JamBase chief executive David Rosenheim.
   The JamBase mission is to be the ultimate online resource for live music fans.
   The availability of recorded music online pressures musicians to deliver live shows that go far beyond playing songs from their CDs.
    ‘Definitely, you have to put on a show,’ said Diaris Alexander of Youth Movement Records, a group that works to cultivate music business savvy in young members of the Hip Hop generation.
    ‘We look for interactive media...we need a greater experience otherwise why not just listen to their music online?’
   Live shows drive sales of recorded music in the Internet Age and provide opportunities to cash in by selling fans videos of performances on flash drives or DVDs as they leave venues.
   It appears that amateur video shared online at websites such as YouTube inspires fans to seek professional versions where money can be made.
    ‘YouTube videos are the gateway drug,’ said a professional music videographer at Bandwidth. ‘I think most bands do embrace the bootleg model as a way to get people to the pro sites.’
   Artists can also cash in on data bases of contact information about fans, firing off emails or text messages to alert them to new songs, band merchandise, or show dates.
   Online communities such as MySpace and Facebook are influential venues for musicians, since suggestions from friends factor into almost all purchase decisions, according to Rosenheim.
   New age jukebox approaches that stream music online as paid or ad-supported services seem to be gaining traction.
   Online radio service Pandora is showing lasting power and music streaming service Spotify offers an iPhone application considered a challenge to Apple’s online iTunes shop.
    ‘There are tons of new models around recorded music; most haven’t worked,’ Rosenheim said. ‘People are consuming more music than ever before. Unfortunately for the labels, they are not paying for it.’

Intel raised its forecast for third quarter revenue on Friday, sending the share price of the world’s biggest computer chip maker sharply higher in early trading on Wall Street.
   As a result of stronger-than-expected demand for microprocessors and chips, Intel said it now expects revenue of between 8.8 billion dollars and 9.2 billion dollars.
   The Santa Clara, California-based company had previously forecast third quarter revenue of between 8.1 billion dollars and 8.9 billion dollars.
   Intel shares jumped 5.14 per cent to 20.47 dollars during the first few minutes of trading in New York.

Investors in the British stock market, which hit a 10-month high this week, will next week look forward to the Group of 20 finance ministers’ meeting in London amid a dearth of company results.
   The benchmark FTSE-100 index of leading shares ended the week up 58.01 points, or 1.20 per cent, to 4,908.9 points from the previous Friday.
   On Tuesday it had closed at a 10-month high of 4,916.80 points following the release of better-than-expected data on the US housing market and US consumer confidence, which raised hopes of an economic recovery.
   The London market will begin trading next week on Tuesday owing to a long holiday weekend in Britain.

BRAC Bank held a town hall meeting in Jessore recently. Employees of its south-western region attended the meeting.
   Chairman of the bank Muhammad A (Rumee) Ali, and managing director and chief executive officer AEA Muhaimen shared business results, strategic directions and performance awards with the employees, a news release said.

Mobile phone operator Aktel has opened a care outlet at Zindabazar in Sylhet recently.
   Aktel managing director and chief executive officer Jefri Ahmad Tambi inaugurated the outlet, a news release said.
   The new ‘Aktel Care’ will provide all Aktel products and services including prepaid and post-paid SIM sales, SIM replacement, bill payment, ownership transfer, re-connection, easy-load, account recharge, value added services, scratch cards and related information.
   Aktel chief of business planning and business development Sirajul Huda was also present.