IMF-prescribed measures to hit GDP growth: economists

Former adviser to the interim government AB Mirza Azizul Islam, Dhaka University economics department chairman MA Taslim and MCCI vice-president Nihad Kabir are seen, among others, at a post-budget discussion in the capital on Wednesday. — New Age photo

Economists on Wednesday said that the projected 7.2 per cent GDP growth in the proposed budget for FY13 would be difficult to achieve as the majority of the economic indicators of the country were negative. The government had crafted the proposed... Full story

WB to avoid projects with high corruption risks: Goldstein

The World Bank country director Ellen Goldstein on Wednesday said that construction of Padma Bridge project was not shelved though the bank has decided to move away from high-risk areas and activities that involve... Full story

Lack of awareness holds back APTA

Bangladesh could not derive the expected benefit from the Asia-Pacific Trade Agreement, a regional trade accord, as bilateral FTAs are dominating the business and exports. Speakers at a national seminar on business... Full story

Stocks fall again as HC hearing on shareholding rule resumes

Dhaka stocks fell on Wednesday after one day of marginal gains as uncertainty deepened among investors following resumption of legal battle between market regulators and listed company directors on the day. Full story

Shipbuilders call for policy

Bangladesh Tariff Commission chairman Md Mozibur Rahman addresses a seminar on ‘Unlocking the Investment Potential of the Shipbuilding Industry’ in a city hotel on Wednesday. — New Age photo

Shipbuilders on Wednesday urged the government to formulate a comprehensive shipbuilding policy to reduce the existing constraints in the shipbuilding sector. At a seminar, speakers pointed out that Bangladesh’s shipbuilding sector... Full story

SEC probes RN Spinning Mills' rights offer subscription status

The Securities and Exchange Commission on Wednesday formed an enquiry committee to investigate the subscription status of right shares issued by RN Spinning Mills Limited. SEC sources said the members of the... Full story

Banks asked to provide info on LCs for egg, salt import daily

The Bangladesh Bank on Wednesday asked all authorised dealer banks to provide concerned authorities with the information about the letters of credit to be opened each working day for importing eggs and edible salt. Full story

World stocks diverge amid eurozone debt contagion

World stock markets diverged in choppy trading on Wednesday as investors’ fixed their attention on worries over eurozone debt contagion. European stock markets were falling in late morning deals after Asian indices... Full story

Market Disclosures

The company has informed that company's subsidiary Summit Purbanchol Power Company Limited has received SEC's consent for issuance of 3,00,00,000 (three crore) number of ordinary shares of Tk 10 each... Full story

Oil lower in Asian trade ahead of OPEC meeting

Oil was lower in Asian trade Wednesday on the eve of an OPEC ministerial meeting in Vienna to discuss production quotas, analysts said. The oil markets were also under pressure from growing worries... Full story

Developing world needs bigger buffers: WB

The World Bank on Tuesday warned developing countries to boost their defences against Europe’s debt crisis, predicting years of volatility in a flailing global economy. In its semi-annual report on worldwide economic... Full story

Gulf states look to the sun for future power

The sun sets next to the luxury Burj al Arab hotel in Dubai. After decades of relying on carbon-emitting fossil fuels to build their cities in the desert, some oil and gas rich nations of the Gulf are now turning skywards to the sun to meet future energy demands. — AFP photo

After decades of relying on carbon-emitting fossil fuels to build their cities in the desert, some oil and gas rich nations of the Gulf are now turning skywards to the sun to meet future energy demands. Ambitious multi-billion-dollar projects to harness... Full story

India assures US of economic vigour

India insisted Tuesday that its economy would regain vigour and satisfy foreign investors as it fended off US accusations of a worsening business climate ahead of high-level talks. Secretary of state Hillary Clinton... Full story

Greeks withdraw cash ahead of cliff-hanger vote

Greeks pulled their cash out of the banks and stocked up with food ahead of a cliff-hanger election on Sunday that many fear will result in the country being forced out of the euro. Bankers said up to 800 million euros... Full story