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New FY begins with nosediving economic indicators

The financial year 2012–2013 begins today with all indicators of macro-economy nosediving in the just concluded financial year because of the below par performance of the government. Economists said that the government would need to face some major... Full story

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Economy faces BoP disequilibrium: UO

The country’s economy is experiencing disequilibrium in the balance of payments due to internal economic imbalances and mismanagement of different policies taken by the government and global financial... Full story

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Bank rate rigging scandal widens

A scandal over the rigging of key interest rates could plunge the global banking industry into a legal morass for years, analysts said, as the head of Barclays fought to hold onto his job. Full story

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Dhaka stocks lost 25pc in FY 2012

The general index of Dhaka Stock Exchange lost 25 per cent, or 1,545 points, in the last financial year that ended Saturday despite the market stabilising efforts taken by the government after the historic crash at the country’s capital market in late 2010. Full story

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Ctg customs launches e-payment service

The National Board of Revenue on Saturday made online duty payment system operational in the Chittagong Custom House to facilitate exporters and importers hassle free tax payment. ‘From now on, importers... Full story

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India’s current account gap at record high

India’s current account deficit touched a record high in the March quarter, as surging imports and only moderate export growth pushed up the trade deficit, keeping the balance of payments in deficit for the second... Full story

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Apple scores second legal win against Samsung in a week

A US judge on Friday granted Apple Inc’s request for a pre-trial injunction against the sale of Samsung Electronics Co Ltd’s Galaxy Nexus phone, handing the iPhone maker its second legal victory against... Full story

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Commodity prices boosted by EU summit deal

Commodity prices mostly rose over the week thanks to strong support won Friday after an EU summit delivered an unexpected deal aimed at further tackling the eurozone debt crisis. Full story

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UTTTARA BANK LIMITED

Uttara Bank is one of the largest and oldest private sector commercial bank in Bangladesh with years of experience. Adaptation of modern technology both in terms of equipment and banking practice ensures... Full story

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NYSE catch saves broker from disastrous blunder

They might be tooting their own horn, but the New York Stock Exchange may have a point. A programming error on a massive trade by a broker-dealer on Friday nearly caused a ‘disastrous’ set of events at market close... Full story

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Japan economy faces same risks as Europe: PM

Japan faces the same risks that plague financially-embattled European states, prime minister Yoshihiko Noda warned Saturday, days after he pushed through a divisive tax bill to chip away at the country’s mountainous debt. Noda’s statement comes a day... Full story

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Oil posts fourth biggest daily gain on record

Oil surged on Friday in heavy trading to the fourth biggest daily gain on record, as a deal by European leaders to shore up eurozone banks triggered frantic short-covering by funds that had been riding crude’s... Full story

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US consumer spending stalls, morale at 6-month low

Consumer spending growth ground to a halt in May as auto purchases flagged, while confidence ebbed to a six-month low in June, the latest signs of trouble for the economy. Although manufacturing activity in the Midwest picked up this month, it offered little cheer... Full story

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Ex-Citigroup VP jailed for stealing $22m

A former Citigroup Inc vice-president who admitted to embezzling more than $22 million was sentenced on Friday to 8 years in prison, federal prosecutors said. Gary Foster, 35, pleaded guilty in September to siphoning... Full story

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