Wednesday, December 21, 2011

'No irresponsible free speech'


Dhaka, Dec 20 — The editor-in-chief of bdnews24.com has launched call for guidelines to set the standards for public discourse on social media alongside regulating news media, who are perceived to be frequently testing the limits.

"Speech must be responsible to be free. There is a social and cultural necessity for freedom of responsible speech," Toufique Imrose Khalidi said at a programme to celebrate the Internet newspaper's fifth anniversary.

"(But) there has to be some discipline in the way the state manages the media. The decision makers must be guided by reason," he added at the Radisson Blu Water Garden Hotel in Dhaka on Tuesday evening.

Besides presenting bdnews24.com's current activities and future plans, he also spoke about crisis and possibilities of presenting news on the Internet.

Policymakers in the government, judges, lawyers, politicians, businessmen, entrepreneurs, poets, sportsmen, top army officers, cultural activists — leading personalities from the entire spectrum of society attended the programme.

Organiers say it is "a fantastic opportunity" to reflect on bdnews24.com's role as a pioneer and innovator.

It offers a range of real-time news coverage for online readers replete with critical information to pick and click; it gathers and delivers news, based on accuracy and consistency on the web 24 hours, with the highest standards of professionalism, integrity and ethical journalism.

bdnews24.com says their newsroom never sleeps.

JSC, JDC results on Dec 28


Dhaka, Dec 21 — Results of Junior School Certificate (JSC) and Junior Dakhil Certificate (JDC) examinations will be published on Dec 28.

"The results are being published within 37 days after the exam ended," education secretary Kamal Abdul Naser Chowdhury told bdnews24.com on Wednesday.

The education ministry earlier announced that it would publish the results within Dec 31.

JSC and JDC examinations started from Nov 1 and ended on Nov 21.

A total of 18,61,113 students took part in the exams --15,37,422 students for JSC and the rest 3,23,691 students sat for JDC.

The examination is being held since 2010 for the Grade-VIII students. This year, the exams were held at 2009 centres simultaneously.

All the papers saw creative questions except for Bengali second paper, English first and second paper and Mathematics.

Like the previous year, students failing in three subjects would be allowed to get themselves admitted to Grade-IX but they would have to take part and pass in the next examination, according to the education ministry.

This year, the physically challenged students were given extra 20 minutes. Moreover, those who cannot see or write were allowed to have a writer.

bdnews24.com/

Fog continues to hamper ferry services


Dhaka, Dec 21 – Fog has continued to disrupt ferry services on Daulatdia-Paturia route.

Like previous nights, ferry services were hampered for nearly 11 hours until Wednesday morning.

Bangladesh Inland Water Transport Authority (BIWTA) Daulatdia pier assistant general manager Zillur Rahman told bdnews24.com that ferry services resumed around 9:30am on Wednesday.

Ferries Shah Paran, Amanat Shah, Shah Jalal and Matiur Rahman got stranded in Daulatdia pier while Khan Jahan, Keramat Ali, Hamidur Shah Ali and Kumari in Paturia pier, leaving hundreds of passengers into severe trouble.

bdnews24.com

Hasina meets grand alliance leaders


Dhaka, Dec 20 — Prime minister Sheikh Hasina has met the leaders of the 14-party grand alliance ahead of the government's third anniversary.

The meeting took place at her official residence Ganabhaban on Tuesday evening.

The leaders said the meeting reached an understanding on programmes to prevent bomb attacks and terrorism and strengthening the alliance's unity.

Of the grand alliance leaders, Jatiya Somajtantrik Dal (JSD) president Hasanul Haque Inu, Bangladesh Workers' Party president Rashed Khan Menon, Samyabadi Dal general secretary Dilip Barua and Workers' Party leader Bimal Biswas were present at the meeting.

Of the ruling Awami League leaders, presidium members Syeda Sajeda Chowdhury, Matia Chowdhury, advisory council member Amir Hossain Amu and Tofail Ahmed attended the meeting, among others.

This is the first meeting of the 14 parties with Awami League since Feb 6.

The alliance leaders had long been asking for the meeting, and Inu even made a request at a programme earlier in the day.

After the meeting, Inu told reporters that the BNP-Jamaat coalition is trying to destabilise the country through bomb blasts and terrorism across the country, including the capital. "We need to be united to prevent that."

The alliance would also announced programmes to fasten the process of trial of the war criminals, said Inu and Tofail.

Tuesday's meeting follows the ruling party president Sheikh Hasina's meeting on Monday with the Communist Party of Bangladesh.

bdnews24.com

2011 sees 43 journos killed, globally


New York, Dec 20 - Political conflicts and unrest proved fatal for journalists in 2011, while governments failed to prosecute those who targeted reporters for their work, according to the Committee to Protect Journalists' year-end survey of journalists killed in the line of duty.

At least 43 journalists were killed worldwide in direct relation to their work this year, according to a CPA media release.

Seven deaths occurred in Pakistan, where 29 journalists have been killed in the past five years. Libya and Iraq, each with five fatalities, and Mexico, with three deaths, also ranked high worldwide for journalism-related fatalities.

First Earth-sized planets found beyond solar system


CAPE CANAVERAL, Florida, Dec 21 - Astronomers have found a pair of Earth-sized planets orbiting a star similar to the sun, though neither are believed to be suitable for life, scientists on NASA's Kepler telescope team said on Tuesday.

The discovery follows confirmation earlier this month of a super-Earth sized planet, called Kepler-22b, that circles the right distance from its parent star for liquid water to exist on its surface. Water is believed to be a key ingredient for life.

"Kepler-22b has the right temperature, but it is too big. (The planets) we're announcing today are just the right size, but too hot," astronomer David Charbonneau with Harvard University, told reporters during a conference call.

"But you can bet that the hunt is on to find a planet that combines the best of both worlds, a true Earth twin," he said.

The newly discovered planets, called Kepler-20e and 20f, have at least three gas-giant siblings, one of the larger planetary systems found to date.

But the family is nothing like our solar system, where rocky worlds like Venus, Earth and Mars are grouped together closer in toward the sun while gas giants like Jupiter and Saturn are segregated in the outer regions.

The two Earth-like and three Neptune-sized planets in the Kepler-20 family are interspersed and all orbit closer to the parent star than our solar system's innermost planet, Mercury.

"Rocky planets and gas giants happily mingle together. This is the first time we've seen anything like this," Charbonneau said.

Kepler-20e and 20f, which are believed to be too hot for liquid water, probably are not habitable - at least not today.

"If Kepler-20f was formed with water, which I think is likely, then it could have held on to its water for several billions of years ," said astronomer Linda Elkins-Tanton with the Carnegie Institute in Washington DC.

"And that means that this planet could have been habitable in the past for a long period," she said.

The system is located about 1,000 light-years away in the constellation Lyra.

Light travels at about 299,337 km per second.

bdnews24.com

Wednesday, December 7, 2011

6 killed, 20 hurt in Rangpur road accident


Rangpur, Dec 7 — At least six people have been killed and 20 injured when a bus plunged into a roadside pond at Najirerhat in Rangpur.

The bus packed with devotees was returning from Jor Ijtema, a preparation of the Tablig Jamat's Ijtema congregation at Tongi, on Wednesday, Kotwali Police Station sub-inspector Selim Haider told bdnews24.com.

Four of the deceased were identified as Asad Ali, 55, Sadek Ali, 42, and Kafil Uddin, 40, from Rangpur and Rezaul Islam, 45, from Darshana.

The injured, who were admitted to the Rangpur Medical College Hospital, said four passengers of the Rangpur-bound Chishtia Paribahan died on the spot when the driver had lost control around 5am.

Two of the injured succumbed to their injuries later, they said.

There had been 86 passengers including many on the roof, the police official said.

Police suspected that over-speeding and overloading could be the reason behind the accident.

bdnews24.com

Aging in office: US presidents often outlive peers


Chicago, Dec 7 — Judging by their "before" and "after" photographs, US presidents appear to age before our eyes, adding wrinkles and gray hair with each year in office.

But contrary to conventional wisdom, a few years in the White House do not appear to cut short the lives of US presidents, and most live longer than their peers, according to a new study released on Tuesday.

"Just because they experience what would appear to be accelerated aging outwardly, doesn't mean they will die any sooner," said S. Jay Olshansky, a demographer at the University of Illinois at Chicago, whose study appears in the Journal of the American Medical Association.
bdnews24.com

Russian police crack down on anti-Putin protests


MOSCOW, Dec 07 - Hundreds of people took to the streets of Moscow for a second successive day on Tuesday to demand an end to Vladimir Putin's 12-year rule, defying a crackdown by tens of thousands of police reinforced by crack Interior Ministry troops.

Police said they had detained about 250 people in central Moscow when they tried to stage an unapproved rally and held about 200 more in St Petersburg, where opposition forces have also been emboldened by the prime minister's worst election setback since he took power in 1999.

After permitting the biggest opposition rally in Moscow for years on Monday evening, the police were out in large numbers. The Interior ministry said about 2,000 special troops were supporting almost 50,000 police, and some moved through the city centre in armored vehicles in a show of force.
bdnews24.com

Analysis: Solar companies to seek deep pockets in downturn


Dec 7 — Struggling solar manufacturers will likely be driven into mergers with rivals to survive a sector squeeze, a trend that could draw major Asian conglomerates deeper into the renewable energy sector.

Solar makers have seen their profit margins nearly erased this year as prices for renewable energy systems plummeted by about 40 percent and industry experts say many companies are too small to withstand the downturn on their own.

Market experts have named China's Suntech Power Holdings Co Ltd (STP.N), Trina Solar Ltd (TSL.N) and Yingli Green Energy Holding Co Ltd (YGE.N) as good bets to survive the current slump, as well as US-based First Solar Inc (FSLR.O) and SunPower Corp (SPWR.O) and Germany's SolarWorld AG (SWVG.DE). bdnews24.com

Monday, December 5, 2011

Abul Hossain says goodbye


Dhaka, Dec 5 — Much criticised minister Syed Abul Hossain has said goodbye to his former colleagues at the communications ministry.

Hossain was moved from the communications ministry to the newly formed information and communication technology ministry on Monday. New minister Obaidul Quader was given the communications portfolio.

The communications ministry will work with only the Roads Division and the Bridges Division as a railways ministry was carved out of the communications ministry on Sunday.

Abul Hossain's new workplace was created by splitting the science and information and communication technology ministry that same day.

He went to Railway Bhaban sometime and took leave of officials there, after coming to the Secretariat at 8am. He then drove to Sarak Bhaban and from there to Bridges Division before returning to his ministry where he attended a meeting.

The minister, known for his big smile, appeared distressed and spoke few words as he returned to his office around 11:45am.

Asked when he will join the new ministry, he simply told bdnews24.com, "Let's see when I can."

Abul Hossain was criticised, even by MPs of his own party Awami League in parliament, after several deadly accidents occurred in the middle of the year and for passenger sufferings due to the poor condition of roads and highways.

He faced criticism once again when the World Bank suspended its funds for the Padma bridge project due to allegations of corruption.

The opposition has been pointing fingers at Abul Hossain for the suspension.

bdnews24.com

Friday, November 25, 2011

Egypt army picks new PM


Cairo, Nov 25 — Egyptian former prime minister Kamal Ganzouri accepted a request from the ruling generals to form a new government, state media reported, but protesters brushed away their choice and vowed to hold another mass rally on Friday to demand the army quit power.

Ganzouri confirmed he had agreed in principle to lead a national salvation government after meeting with the head of the ruling military council, Field Marshal Mohamed Hussein Tantawi, the website of state newspaper Al Ahram reported, citing sources close to Ganzouri.

In an attempt to defuse protests by thousands of Egyptians frustrated by nine months of military rule, the army council promised parliamentary elections would start on time next week. It earlier said it would speed up the timetable for a handover from military to civilian presidential rule.

Violent clashes with police in and around Cairo's Tahrir Square since Saturday have killed dozens, in scenes reminiscent of the popular uprising that toppled Hosni Mubarak in February.

"The people demand the execution of the marshal," crowds chanted, referring to army chief Tantawi who was Mubarak's defence minister for 20 years.

Ganzouri headed a cabinet from 1996 to 1999 that introduced some economic liberalisation measures. Many Egyptians viewed him as an official who was not tainted by corruption, but his record serving under Mubarak could stir opposition from those demanding a clean break with the past.

As talk of a Ganzouri appointment filtered through the crowds packed into Tahrir Square, reactions were mixed. Some said his age made him a bad choice. Ganzouri is in his late 70s.

"Ganzouri is no good for this transitional period, which needs youth leaders, not grandparents," said student Maha Abdullah.

Metwali Atta, a 55-year-old taxi driver who was camped out in Tahrir, disagreed: "I would like to see Ganzouri as prime minister. The man has a strong character, unlike (outgoing prime minister) Essam Sharaf who was easily bossed around by the military council."

In a communique, protesters called a million-man march on "the Friday of the last chance" to back demands for an immediate transfer to civilian rule via a national salvation government.

The Egyptian Independent Trade Union Federation called for a workers' march to Tahrir. Another labour rights group called for a general strike to back the protests. Labour unions played an important role in the movement that toppled Mubarak.

The heads of two political parties who took part in a meeting with the military council on Tuesday said they now regretted attending and apologised to the protesters in Tahrir.

The demonstrations appear to have polarised Egyptians, many of whom worry unrest will prolong economic stagnation.

Supporters of the army council had said they would hold a rally to back the military. In a statement on its Facebook page, the army council said it was "appealing to them to cancel the demonstration", saying it wanted to avoid divisions.

ECONOMY REELS

In fresh blows to confidence, the Egyptian pound weakened to more than six to the dollar for the first time since January 2005, and Standard & Poor's cut Egypt's credit rating.

The agency cut Egypt's long-term, foreign and local-currency sovereign credit ratings to B+ from BB-, saying a "weak political and economic profile" had worsened further.

The Central Bank raised interest rates unexpectedly in what bankers was an attempt to shore up the pound.

Egypt's ruling army council said it was doing all it could to prevent more violence. In a statement, it apologised, offered condolences and compensation to families of the dead, and promised a swift investigation into who was behind the unrest.

A ruling council member, General Mamdouh Shaheen, told a news conference the parliamentary vote, whose first stage is due to begin on Monday, would go ahead on time. "We will not delay elections. This is the final word," he said.

Another council member, Major-General Mokhtar al-Mullah, took a swipe at the demonstrators. "If we look at those in Tahrir, regardless of their number, they do not represent the Egyptian people, but we must respect their opinion," he said.

Mullah said the army hoped to form a new government before Monday to replace Prime Minister Essam Sharaf's cabinet, which resigned during this week's violence without giving a reason.

Demonstrators in Tahrir said the truce had taken hold from midnight. Cranes hauled concrete barriers, later reinforced with barbed wire, across streets leading to the nearby Interior Ministry, flashpoint for much of the recent violence.

HUMAN CHAINS

Protesters linked arms in human chains to prevent further clashes with security forces guarding the Interior Ministry.

"We have created a space separating us from the police. We are standing here to make sure no one violates it," said Mahmoud Adly, 42, part of a human cordon four people deep.

The protests in Cairo and elsewhere pose the gravest challenge to Egypt's army rulers since they took over from Mubarak, overthrown on Feb. 11 after an 18-day uprising.

The United States and European nations, alarmed at the violence of the past few days, have urged Egypt to proceed with what has been billed as its first free vote in decades.

The army and the Muslim Brotherhood, which expects to do well in the election, say it must go ahead, but many protesters do not trust the military to oversee a clean vote. Some scorn the Brotherhood for its focus on gaining seats in parliament.

In Tahrir, two groups were chanting against other, one saying, "Muslim Brotherhood, we don't want you in the square," and another responding in a unity call, "One hand, one hand."

The military council originally promised to return to barracks within six months of the fall of Mubarak, but then set a timetable for elections and drawing up a new constitution that would have left it in power until late next year or early 2013.

Tantawi pledged this week to hold a presidential vote in June that could pave the way for a transfer to civilian rule, but the demonstrators, angered by army attempts to shield itself legally from future civilian control, are unconvinced.

"The protesters of Tahrir Square announce their absolute rejection of ... Tantawi's speech, and stress they have been humiliated that the regime moved to offer solution only after martyrs fell," the protesters' communique said.

Before the truce, protesters had fought running battles with security forces around the Interior Ministry. The bloody chaos there contrasted with normal life in streets nearby.

bdnews24.com

Why reacting now, Hasina asks Khaleda


Dhaka, Nov 24 — The past BNP government did nothing when India initiated steps on the Tipaimukh project, prime minister Sheikh Hasina has said referring to a letter from BNP chairperson Khaleda Zia to Indian premier Manmohan Singh

"Now you are writing a letter! Why didn't you protest when problems over Tipaimukh arose when you were in power?" Hasina told a public gathering at the madrasa ground in Rajshahi on Thursday.

"The incumbent government will settle the Tipaimukh issue," she said and added that Bangladesh will not face any harm during her government's tenure.

India's northeastern state Manipur signed an agreement with state-owned NHPC Ltd and Satluj Jal Vidyut Nigam Ltd (SJVN) on Oct 22 to construct a 1,500MW Tipaimukh hydroelectric project in Manipur.

BBC published the news on Friday, which splashed in Bangladeshi media on Saturday.

BNP chairperson Khaleda Zia on Tuesday said the government failed to protect national interest with regard to the Tipaimukh dam issue.

On Wednesday morning, the main opposition said it had sent a letter to New Delhi seeking a joint survey of the Tipaimukh dam project.

Later in the day, Hasina told parliament, "The then BNP water resources minister had said that the national interest of Bangladesh will not be harmed if the dam is constructed."

bdnews24.com

Syria faces Arab sanctions deadline over monitors


Beirut, Nov 25 — Syria faces a Friday deadline to sign an Arab deal allowing monitors into the country or incur sanctions over its crackdown on protests including halting flights, curbing trade and stopping deals with the central bank.

Arab foreign ministers warned in Cairo that unless Syria agreed to let the monitors in to assess progress of an Arab League plan to end eight months of bloodshed, officials would consider imposing sanctions on Saturday.

Under a November 2 Arab League initiative, Syria agreed to withdraw troops from urban centres, release political prisoners, start a dialogue with the opposition and allow monitors and international media into the country.

Since then hundreds of people, including civilians, security forces and army deserters, have been killed as the unrest which the United Nations says has claimed at least 3,500 lives since March continued unabated.

The Syrian Observatory for Human Rights, a British-based opposition group, said at least 47 people were killed in Syria on Thursday, including 16 soldiers and 17 army deserters, mostly around the rebellious city of Homs and near the town of Rastan to the north.

The violence has prompted former ally Turkey to bluntly tell President Bashar al-Assad to step down and led France to propose "humanitarian corridors" in Syria to help transport medicines or other supplies to civilians in need.

French Foreign Minister Alain Juppe said he would discuss the idea with the Arab League but a source at the 22-member body said the proposal was not brought up at the Cairo meeting.

"In the case that Syria does not sign the protocol ... or that it later violates the commitments that it entails, and does not stop the killing or does not release the detainees ... (Arab League officials) will meet on Saturday to consider sanctions on Syria," the Arab ministers said in a statement.

They said possible sanctions, which were not intended to affect ordinary Syrians, included suspending flights to Syria, stopping dealings with the central bank, freezing Syrian government bank accounts and halting financial dealings.

They could also decide to stop commercial trade with the Syrian government "with the exception of strategic commodities so as not to impact the Syrian people," the statement said.

Syria's economy is already reeling from the eight months of unrest, aggravated by U.S. and European sanctions on oil exports and several state businesses.

"HUMANITARIAN CORRIDORS"

After months in which the international community has seemed determined to avoid direct entanglement in a core Middle East country, the diplomatic consensus seems to be changing.

The Arab League suspended Syria's membership two weeks ago, while this week the prime minister of neighbouring Turkey - a NATO member with the military wherewithal to mount a cross-border operation - told Assad to quit and said he should be mindful of the fate of fallen dictators such as Adolf Hitler, Benito Mussolini and Libya's deposed leader Muammar Gaddafi.

France became the first major power to seek international intervention in Syria when it called for "humanitarian corridors" in Syria to alleviate civilian suffering.

A Western diplomatic source said the French plan, with or without approval from Damascus, could link Syrian civilian centres to the frontiers of Turkey and Lebanon, to the Mediterranean coast or to an airport.

Its aim would enable transport of humanitarian supplies or medicines to a population that is suffering.

Juppe insisted the plan fell short of a military intervention, but acknowledged that humanitarian convoys would need armed protection.

"There are two possible ways: That the international community, Arab League and the United Nations can get the regime to allow these humanitarian corridors," he told French radio. "But if that isn't the case we'd have to look at other solutions ... with international observers."

Asked if humanitarian convoys would need military protection, he said: "Of course... by international observers, but there is no question of military intervention in Syria."

"MOST DANGEROUS PHASE"

The Syrian Observatory said 15 army deserters were killed in clashes with the military west of Rastan and in raids by security forces. Eleven military and security personnel were killed by army deserters in the city of Houla, it said.

Alongside the mainly peaceful protests, armed insurgents have increasingly attacked military targets in recent weeks.

State media have reported the funerals of 34 soldiers and police in the last four days. Since the outbreak of the uprising officials have blamed armed groups for the violence and say 1,100 members of the security forces have been killed.

"The Syrian crisis may or may not have entered its final phase, but it undoubtedly has entered its most dangerous one to date," the International Crisis Group said.

"Many in Syria and abroad are now banking on the regime's imminent collapse and wagering that all then will be for the better. That is a luxury and optimism they cannot afford."

Washington repeated an appeal on Wednesday for U.S. citizens to leave Syria: "The U.S. Embassy continues to urge U.S. citizens in Syria to depart immediately while commercial transportation is available," the embassy said on its website.

Assad, 46, seems prepared to fight it out, playing on fears of a sectarian war if Syria's complex ethno-sectarian mosaic shatters and relying on support of senior officials and the military to suppress the protests, inspired by Arab uprisings which toppled the leaders of Tunisia, Egypt, Libya and Yemen.

However many experts say Assad, who can depend mainly on the loyalty of two elite units dominated by his Alawite minority community, cannot maintain current military operations without cracks emerging in the mainly Sunni Muslim army.

bdnews24.com

Thursday, November 24, 2011

BB easing rules for stocks exposure


Dhaka, Nov 24 —Following the Securities and Exchanges Commission (SEC) statement on Tuesday, Bangladesh Bank is set to issue order relaxing rules for banks' stocks exposure.

The central bank's executive director S K Shur told bdnews24.com of the move on Thursday.

This comes less than 24 hours of SEC chairman's announcement on Wednesday afternoon that the central bank would redefine "exposure" when the commercial banks will invest through subsidiaries such as merchant banking as part of stock market incentives package.

A similar circular from the National Board of Revenue is due with incentives for foreign institutions and non-resident Bangladeshis. The revenue board plans to withdraw the 10 percent capital gains tax on investment in capital market by FIs and NRBs to lure funds from abroad.

Chief of the market regulator M Khairul Hossain had also said the central bank will extend the deadline by one year for commercial banks to adjust their single-party exposure relating to share market to Dec 31, 2013.

bdnews24.com

PM in first visit to Rajshahi


Rajshahi, Nov 24 —Prime minister Sheikh Hasina is visiting Rajshahi in her first visit since the Awami League-led alliance rode to power in 2009.

Hasina, who reached the Rajshahi airport on a Bangladesh Biman plane around 10am on Thursday, is set to address a public rally in the afternoon at the madrasa ground.

She went to Rajshahi Cantonment to attend the annual commanders' conference-2011, reunion, National Standard Giving and Bangladesh Infantry Regiment's programmes.

She will then pay her respect to the martyr Dr Shamsuzzoha at the Rajshahi University (RU) campus after visiting the shrine of saint Shah Makhdum.

She is scheduled to lay the foundation stone for the Bangamata Sheikh Fazilatunnesa Girls' Hall.

Hasina will also inaugurate a 50-megawatt rental power plant in Katkhali and lay the foundation for another 50-megawatt peaking power plant.

Tight security has been in place in Rajshahi to ensure a trouble free visit of the prime minister.

"Around 3,000 members of police, RAB and APBN will be involved in the security of the prime minister," Rajshahi metropolitan police commissioner Mohammad Obaidullah told bdnews24.com.

Rajshashi district and metropolitan AL leaders have already declared a 14-point demand at a press conference ahead of Hasina's long-awaited visit to Rajshahi.

People are now waiting anxiously to see what the prime minister has to say about their demands.

Their main demands include turning Rajshahi Medical College into a university, establishing the Barendra Krishi University in Rajshahi, declaring Rajshahi as a special economic zone, government assistance in the development of the silk trade, building the Ganges barrage, capital dredging in the Padma River, and implementing irrigation project in northern Rajshahi.

bdnews24.com

DSE opens with slipping index


Dhaka, Nov 24 —Just a day after the Securities and Exchanges Commission (SEC) declared a raft of measures to stabilise the market, the benchmark index of the Dhaka Stock Exchange fluctuated in the first hour of trading.

The general index stood at 5352.96 points around 12.03am on Thursday, a 19.69-point or 0.37 percent loss from the day's opening. Shares worth a total of Tk 2.02 billion changed hands by then with losers outnumbering gainers by 137 to 84 and nine issues at their opening price.

The general index reached the day's high until then, 5483.9 points, in the first five minutes. Only 15 minutes later, it reached the day's low, 5288.74 points, a fall of around 195 points. Smaller vacillations continued afterwards.

On Wednesday, the SEC rolled out stock market incentives package, with provisions for increased commercial bank, merchant bank and foreign investments.

The package includes allowing merchant banks to collect up to 49 percent capital from sources other than their parent banks, making compulsory for sponsor directors of listed companies to have 30 percent stake of their firms, or buy shares to reach the level within six months, brokerage houses to appoint professional, skilled and experienced investment managers, and strengthening laws to stop insider trading, modernising the Small Investor Protection Act and demutualisation of stock exchanges.

The market regulators also said that the central bank will extend the deadline for commercial banks to adjust their single-party exposure relating to share market to Dec 31, 2013 by one year, in a major move to inject more cash into the market. The Bangladesh Bank will also redefine "exposure" when the commercial banks will invest through subsidiaries such as merchant banking.

To entice funds from abroad, the National Board of Revenue will withdraw the 10 percent capital gains tax on investment in capital market by foreign institutions or non-resident Bangladeshis

On Wednesday, even though the general index shed 224.3 points at close, the turnover crossed Tk 10-billion mark for the first time in nearly four months. The DSE general index shot up 194 points in the first five minutes of trading on the news that an 'incentive package' would be announced in the afternoon.

It started losing afterwards and closed with a fall after five days of uptrend followed by a prime minister Sheikh Hasina-led meeting with stakeholders on Nov 16. She said all that needs be done for the stock market will be done.

The NBR on Monday sent a clarification to the SEC confirming that investors will face no question while investing undisclosed income in the capital market.

On Tuesday, the bourse registered an exchange of shares worth Tk 8.03 billion. On Monday, the turnover stood at Tk 5.19 billion, exceeding that of Sunday by nearly Tk 440 million.

On Monday, the DSE decided in a meeting that the sponsor directors of all listed companies have to hold at least 30 percent stakes, and those below the level must buy back their shares within six months. It also decided to dissolve all but audit and demutualisation committees.

The NBR sent a clarification to the SEC that confirmed the decision taken at the Nov 16 meeting with the prime minister about not questioning source of funds invested in the market and that untaxed money can be freely invested.

The decisions came after the indices plunged to new lows over the past week leading to streets protests and then intervention from the prime minister. On Wednesday night, Sheikh Hasina chaired a high-profile meeting that resulted in decisions to prop up the prices.

On Monday, turnover at the Dhaka Stock Exchange crossed the Tk 5 billion-mark with the general index gaining slightly on a selling spree, apparently buoyed by the news of the incoming capital market stimulus package. At closing, the turnover stood at Tk 5.19 billion exceeding last day's high by Tk 440 million and hitting the highest since trading resumed after the nine-day recess for Eid-ul-Azha.

bdnews24.com

Sunday, November 20, 2011

2 killed, hundreds hurt in Egypt clashes


CAIRO, Nov 20 - Clashes erupted between protesters and police in Cairo and two other Egyptian cities, killing two people and wounding hundreds in the biggest security challenge yet for the country's ruling generals days before scheduled elections.

In scenes reminiscent of the 18-day uprising that toppled Hosni Mubarak from three decades of power in February, hundreds of youths chanted "The people want to topple the regime" as they rushed towards riot police, who fired rubber bullets and tear gas.

Protesters broke chunks of cement from pavements and hurled them at police in clashes in which police lost control of Cairo's landmark Tahrir Square twice in the day.

A blaze broke out around midnight at the huge Mogamma state administration building overlooking Tahrir.

As police fired round after round of tear gas at protesters near the interior ministry, closer to Tahrir protesters laid sheets of metal to block roads into the square.
bdnews24.com

Regional coop stressed in climate meet


Dhaka, Nov 20 —Environment ministers of Nepal, Bangladesh, Bhutan and India have called for adopting a regional framework of cooperation to tackle disasters induced by climate change.

The ministers, who met at Bhutan's capital Thimphu on Saturday, also stressed the need to raise funds for tackling the problem, the Himalayan Times has said in a report.

The framework has also focused on biodiversity conservation, development of alternative energy, sharing of technology, research into hiking food production and adoption of ecosystem management practices to tackle disasters tied to global warming.
bdnews24.com

Obama eyes Asia for exports, jobs


NUSA DUA, Nov 20 - US President Barack Obama sought to charm Asia-Pacific leaders this week with Australian slang and memories from his childhood in Hawaii and Indonesia in his bid to boost US ties with the fast-growing region.

The top goal of the nine-day trip, which took Obama away from Washington just as US budget battles were intensifying, was to cement a foreign policy "pivot" toward Asia that could open the door to more American exports and jobs.

The Democratic president, struggling in the polls after bitter fights with Republicans in Congress, geared his Asia message to U.S. voters who will decide next November whether to give him another four years in office.

In Honolulu, Australia and the Indonesian island of Bali, Obama sought out every chance to talk about America's export potential, and the White House previewed Boeing and GE deals with Asia that it said could sustain 130,000 US jobs.
bdnews24.com