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25 non-PD banks forced to lend govt Tk 159cr

Twenty-five non-primary dealer banks were compelled to give loan of 159.56 crore to the government by taking 10-year treasury bonds in the first auction of the newly introduced system of the Bangladesh Bank. Full story

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‘Priority sector’ light engineering fails to flourish

The light engineering sector, which has got a huge potential, has failed to flourish due to the lack of an effective policy, financial support and upgraded technology, say entrepreneurs. The experts and entrepreneurs say that light engineering factories... Full story

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Apple wins over Samsung, to get over $1b damages

Apple Inc scored a sweeping legal victory over Samsung on Friday as a US jury found the Korean company had copied critical features of the hugely popular iPhone and iPad and awarded the US company $1.051 billion in damages. The verdict — which came... Full story

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DSE trading resumes today amidst optimism

After an 11-day vacation, trading in the Dhaka Stock Exchange will resume today with renewed optimism in investors about the stability of the market. The market remained closed from 15 to 25 August because... Full story

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HSBC probed for money laundering: report

US prosecutors are looking into whether British bank HSBC was involved in laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, The New York Times reported Saturday. Full story

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Pakistan rupee sinks to record low against dollar

The Pakistani rupee sank to an all-time low against the dollar Friday on high oil prices and forex reserve fears as the country repaid nearly $400 million to the International Monetary Fund. The rupee fell to 94.75 to the greenback in trading in Karachi on Friday, down... Full story

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RBS closing in on rate-rigging settlement

Royal Bank of Scotland is expected to agree a settlement in the next two months with US and UK authorities investigating its role in an interest-rate rigging scandal, according to industry sources, regulatory... Full story

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65 Nepali firms get permission to export rice to China

The Nepali government has permitted 65 firms to export 10,000 tonnes of rice to China, local daily Republica reported Saturday. It decided to open rice exports to China in view of the big surplus of crops in... Full story

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China needs to stabilise exports: Wen

Chinese premier Wen Jiabao said on Saturday that China needed more policies to stabilise the country’s exports, Dow Jones Newswires reported. Wen, speaking during an inspection tour in the southern Chinese... Full story

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US stocks break six-week winning streak

US stocks turned lower last week after six straight weekly gains as fresh signs of frailty in the global economy emerged and a number of companies cut their corporate profit forecasts. Full story

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Talk of reserves release hits oil prices

Oil prices dropped Friday amid renewed talk about the release of strategic reserves and as traders kept an eye on a tropical storm that could disrupt offshore operations in the Gulf of Mexico. Full story

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Bharti Airtel shortlists banks for Infratel IPO: sources

Bharti Airtel has shortlisted banks including Standard Chartered and JPMorgan to manage a share flotation for its telecoms masts unit to raise more than $750 million, two sources with direct knowledge of the matter said. Full story

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Airline industry woes chip away passenger choices

Air passengers face higher fares, fewer flight choices and crowded aircraft as European carriers trim seating capacity growth or cut routes altogether, as they battle to salvage profits and fend off the impact of rising fuel prices. With jet fuel prices near record... Full story

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Greece must show credibility for eurozone: France

French president Francois Hollande said Saturday after talks with the Greek prime minister that crisis-wracked Greece must stay in the eurozone but first needed to prove it was determined to slash its budget deficit. ‘Greece is in the eurozone and Greece... Full story

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Facebook envisions swanky new digs as shares sink

Facebook Inc on Friday unveiled plans for a massive new campus annex in Menlo Park to be designed by Frank Gehry, the renowned architect who has won plaudits for metal-sheathed works like the... Full story

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JP Morgan warns Indian stocks ‘bull run’ in jeopardy

US investment house JP Morgan has warned a bull run by Indian stocks is in jeopardy with New Delhi failing to deliver on promised reforms and economic indicators deteriorating. The Indian stock market has moved up sharply since June when... Full story

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Airtel-DBBL mobile banking launched

Airtel Bangladesh Limited and Dutch-Bangla Bank on Saturday launched a joint venture initiative to enable the Airtel subscribers to enjoy mobile banking. Bangladesh Bank governor Atiur Rahman inaugurated the service on the premises of... Full story

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Bernanke says Fed has scope to provide more stimulus

The Federal Reserve has room to deliver additional monetary stimulus to boost the US economy, Fed chairman Ben Bernanke told a Congressional oversight panel in a letter. Full story

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