Export slump hurts jute cultivation

A file photo shows farmers arranging raw jute in a water body for rotting at a village under Boalmari upazila in Faridpur. The country’s jute cultivation acreage reduced by 2.24 per cent in the current year because of falling demand of the fibre and a slump in export of jute and jute products. — Focusbangla photo

The country’s jute cultivation acreage reduced by 2.24 per cent in the current year because of falling demand of the fibre and a slump in export of jute and jute products. Officials of the Department of Agricultural Extension told New Age that... Full story

Only 40pc of foreign loan, grant released in 11 months

Lenders disbursed only 40 per cent of $4,284.24 million of the foreign loans and grants they committed to release in first 11 months of the current financial year, said officials of the Economic Relations Division. Full story

Businesswomen demand women’s bank

Women Entrepreneurs Association of Bangladesh president Nasrin Awal Mintoo and other leaders attend a discussion meeting on the proposed budget in the city on Tuesday. — New Age photo

Businesswomen on Tuesday demanded the establishment of a women’s bank to assist grassroots-level women entrepreneurs across the country. At a meeting, they urged the government to be more careful in using Tk 100 crore fund for women... Full story

86pc RMG workers remain out of bank services

IFC country manager Kyle F Kelhofer, Bangladesh Bank deputy governor Abul Quasem and Association of Bankers Bangladesh chairman Mohammed Nurul Amin are seen at a study report launching programme at Westin Hotel in Dhaka on Tuesday. — New Age photo

Eighty-six per cent of around three million readymade garment workers do not have bank accounts, said a study report launched by International Finance Corporation. According to the study, the RMG workers do not understand the advantage... Full story

Dhaka stocks extend losses to 5th day

Dhaka stocks extended their losing streak to fifth day on Tuesday as uncertainty over outcome of the legal battle between market regulators and the listed company directors continued to haunt the investors. Full story

United Airways launches Ctg-Kolkata flight

United Airways Limited launched its Chittagong-Kolkata flight on Monday. Chittagong city mayor Manjur Alam inaugurated the flight operation as chief guest at Hazrat Shah Amanat International Airport in... Full story

Airtel, SSL Wireless ink mobile top-up agreement

Airtel has recently signed an agreement with SSL Wireless for providing mobile top-up services for the Airtel subscribers through different electronic channels, said a news release. Full story

S Korea household debt growing alarmingly

South Korea’s household loans have grown ‘at an alarming rate’ to $553 billion in April and are vulnerable to financial shocks arising from a global economic downturn, a report said Tuesday. Full story

Euro strengthens in Asian trade

The euro rose in Asian trade on Tuesday, but gains were limited after Spain’s borrowing costs hit a record high and optimism over Greek elections - which had sent the unit soaring - faded. Full story

Market Disclosures

The company will be placed in ‘A’ category from existing ‘N’ category with effect from today as the company reported disbursement of 12 per cent stock dividend for the year ended on December 31, 2011. Full story

Oil prices fall to near 17 month low on euro woes

Brent crude fell to a near 17 month low below $95 a barrel on Tuesday, hit by the latest twist in the eurozone crisis, but steadied because Spain managed to sell debt, even though its costs soared to their highest since 1997. Full story

World leaders wrestle with eurozone fix at G20

Leaders of the G20 nations gather for a group photo at the G20 Summit in Los Cabos, Mexico on Monday. — Reuters photo

World leaders struggled to inject confidence into the global economy Monday at a G20 summit in Mexico dominated by the spiralling European debt crisis that is spooking markets and paralysing growth. Mexico’s president Felipe Calderon... Full story

Myanmar eyes economy for next round of reforms

Myanmar’s leader vowed Tuesday to put the economy at the centre of his next wave of reforms, aiming to boost development in the impoverished country following a series of dramatic political changes. Full story

Telenor signals India cut-off if permit cost soars

A file photo shows a man speaking on a mobile phone in front of a billboard of Uninor at a market in Ahmedabad. — Reuters photo

Norway’s Telenor could exit India if licence prices at an upcoming auction prove expensive, the head of the mobile phone operator’s Asian operations said on Tuesday. ‘It is conceivable that Telenor could pull out of India,’ Asia chief Sigve Brekke told reporters. Full story

UK inflation eases unexpectedly

Inflation eased unexpectedly in May to its lowest in two and a half years due to slower price rises for food and fuel, strengthening the chance of more Bank of England stimulus as the economy increasingly feels the... Full story