HOME  BUSINESS

Commodity prices see fresh rise

Commodity prices witnessed fresh rise on the retail markets in the city over the week ending Friday. The essentials which are consumed in larger quantities in the month of Ramadan beginning today saw bigger increase in their prices over the week. Full story

---

Import bill payments drop in June

The country’s import bill payment declined further in June compared to the same month of the previous financial year as the central bank discouraged the banks in opening of letters of credit for luxury products to save... Full story

---

Three major Japanese banks downgraded

Fitch said Friday it cut the credit rating of three of Japan’s biggest banks over concerns about Tokyo’s ability to support the financial sector, after the nation’s sovereign debt rating was also cut. Full story

---

US banks haunted by mortgage demons

Lenders like Bank of America Corp and Wells Fargo & Co say they are facing mounting pressure to buy back bad mortgages they sold to investors, signalling that banks’ home-loan headaches could continue for years. Full story

---

Biman’s Sylhet-London flight in three months: minister

Civil aviation and tourism minister Faruk Khan has said the government plans to start Biman’s flights on Sylhet-London routes in the next three months. ‘We’re committed to start Biman’s Sylhet-London flight within... Full story

---

China launches US solar dumping probe

China on Friday started a probe into alleged US dumping of solar products and government subsidies for the sector, the latest volley in a trade row between the world’s top two economies. Full story

---

RBI panel seeks tighter norms for loan recast

Higher loan-loss provisions by banks and greater ‘sacrifice’ by founders or controlling shareholders of troubled companies are among the tighter norms for loan restructuring recommended by a panel appointed... Full story

---

Nokia disappoints with big loss, slumping sales

Nokia, which until recently was the world’s biggest mobile phone maker, reported a much worse-than-expected second quarter loss Thursday as it presses on with a massive restructuring of its faltering business. Full story

---

Oil majors to gain most from East Africa gas boom

Large western energy companies stand to gain most from a boom in East African natural gas exports as their technical know-how and capital power gives them an advantage over smaller competitors or Asian... Full story

---

SJIBL gets new DMD

Md Shafiul Azam has recently been promoted to the position of deputy managing director of Shahjalal Islami Bank. Prior to the promotion he had been working as senior executive vice-president of this bank, said... Full story

---

Asian markets fall after previous day’s rally

Asian markets mostly fell on Friday as profit-taking after the previous day’s rallies overshadowed another strong performance on Wall Street. Tokyo fell 1.43 per cent, or 125.68 points, to 8,669.87, Sydney was 0.18 per... Full story

---

Japan investors face uncertain week: analysts

Investors face an uncertain week on Japanese markets as positive corporate earnings at home and abroad may be offset by wider concerns about the global economy, dealers said Friday. Full story

---

Yuan on track to become Asia ‘anchor’ currency: ADB

China’s yuan is increasingly being used to settle trade transactions in Asia, gradually cementing its way to becoming a regional ‘anchor’ currency, the Asian Development Bank said Thursday. Full story

---

Crude down in Asia on profit-taking

Crude prices fell in Asia Friday as traders took profits after a week of gains sparked by tensions in the Middle East and US stimulus hopes, analysts said. New York’s main contract, light sweet crude for August delivery... Full story

---

Dollar mixed in Asia

The dollar was mixed in Asian trade Friday after earlier dipping on speculation that an uncertain US economic recovery would spur the Federal Reserve to usher in further easing measures. Full story

---

Online woes spark first Microsoft loss ever

Microsoft posted its first ever loss on Thursday, shedding $492 million in the fourth quarter due to a massive $6.2 billion write-down to reflect the slump in value of its online operations. Full story

---

Data show US economy mired in weakness

The slowdown in the economy persisted early in the third quarter as factory activity in the US Mid-Atlantic region contracted in July for a third straight month and new claims for jobless aid surged last week. Full story

---

Eurogroup approves Spanish banking sector bailout

Eurozone finance ministers approved an agreement on Friday to lend up to 100 billion euros ($123 billion) to Spain so it can recapitalise its banks, but the exact size of the loan will probably only be determined in September. Full story

---

Spain improves recession forecast

Recession-hit Spain forecasts its economy will shrink by 1.5 per cent in 2012, a smaller contraction than its previous estimate of 1.7 per cent, the government said Friday. The recession would then continue in 2013 with... Full story

---

Mayer gets $70m pay package to lead Yahoo

New Yahoo chief executive Marissa Mayer’s compensation package could total more than $70 million in salary, bonuses, restricted stock and stock options over five years, according to a regulatory filing made by... Full story

---

Google profits surge on growing ad revenue

Google on Thursday reported a surge in quarterly profit to $2.79 billion on the back of rising online advertising revenue, beating Wall Street expectations. The California-based online search titan’s profit rose 11 per cent... Full story

---

China vows to keep tight grip on property prices

China vowed Friday to maintain tight controls over the country’s property market after house sales recently picked up despite a slowing economy. China has since 2010 introduced a spate of measures to control... Full story

---