Bangladesh

Bangladesh

Postby winston » Wed Sep 08, 2010 4:47 pm

Did you know that the Bangladesh stock market is up 50% this year and is the world's best performing stock market this year ?

And we dont even have a thread on this country in the forum ...
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Bangladesh

Postby winston » Sun Feb 13, 2011 9:38 pm

See the post above. All it takes is just 6 months ...


Bangladesh investors and police clash over stocks slide

DHAKA (Reuters) - Hundreds of Bangladeshi small investors, angry at a new plunge in share prices, set fire to tires and pelted police with bricks on Sunday outside the stock exchange and demanded the resignation of the finance minister.

Police with batons dispersed the protesters in pitched battles that snarled traffic for hours.

The country's main Dhaka Stock Exchange General Index dived by more than 474.77 points or 7.27 percent to 6052.41 on Sunday, the steepest one-day fall since January 20.

"Who is to blame for the continuing fall of share prices? Why haven't they been found and punished?" shouted Shafiqur Rahman, a small investor.

Demonstrators called for the resignation of Finance Minister Abul Maal Abdul Muhith.

"He assured us that the market will see an uptrend this week," said investor Rakibul Haq. "It makes me so frustrated and angry that this has not happened."

Prime Minister Sheikh Hasina last week asked the relevant authorities to take immediate steps to stabilize markets, with about 3.3 million people, mostly small-time investors new to stock trading, relying on it to supplement meager incomes.

Share prices nearly doubled in 2010, encouraging new investors into the market.

But banks and other financial institutions, some of which had invested 75 percent of their deposits in the stock market in the past, are now holding back on further investments, prompting fears among individual investors.

Clashes between distraught investors and police have become regular occurrences in recent weeks. The steepest fall in the index -- 660 points -- took place on January 10.

Mirza Azizul Islam, a former finance adviser to the government, said on Sunday: "The market needs long-term investment to overcome its volatility while small investors should refrain from panic buying or selling."

Hasina and her rival Begum Khaleda Zia, a former prime minister and contender in parliamentary elections due by the end of 2013, accuse each other of prompting the price declines.

"They (Khaleda and her allies) are fuelling the unrest in the stock market, trying to cause greater anarchy and make gains out of it," Hasina told parliament last week.

Khaleda said at the weekend that the slide in the bourses was further proof that the government was incapable of managing anything.

Source: Reuters US Online Report World News
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Re: Bangladesh

Postby winston » Sat Mar 05, 2011 10:53 pm

Yunus removal from bank sparks Bangladesh protest

DHAKA (Reuters) - Thousands of Bangladeshis protested on Saturday against the removal of Nobel laureate Muhammad Yunus from the top post at Grameen Bank, the microlender he founded.

Protesters, mostly Grameen Bank borrowers, held hands to form human chains, carried placards and banners demanding the central bank scrap its order to remove Yunus from the post.

"Withdraw the illegal order and restore Muhammad Yunus to his post gracefully and with due honor," said a protester in northern district Tangail.

"The decision (to remove him) was awful, and must be scrapped," said another.

Peaceful protests staged across the country on Saturday, a day before the High Court is due to rule on separate writs filed by Yunus and Grameen Bank directors challenging the legality of the central bank action.

The central bank ordered Yunus, 70, out on the grounds that he had overstayed as head of Grameen operations in violation of the law. The legal retirement age at commercial banks is 60.

Yunus, winner of the 2006 Nobel peace prize, set up Grameen, which means "village" in Bengali, and had been its managing director since 2000. Lauded abroad by politicians and financiers, he has been under attack the government since late 2010, after a Norwegian documentary alleged the bank was dodging taxes.

Yunus has denied any financial irregularities.

Analysts have suggested Yunus's rapid removal could rebound on the authorities, denting the country's international reputation. His supporters say Prime Minister Sheikh Hasina's government is trying to discredit him because he once considered setting up a political party to rival her Awami League.

Yunus has criticized politicians including Hasina and her rival, former prime minister Begum Khaleda Zia, accusing them of corruption, misrule and being apathetic toward democracy.

The United States called for the dispute to be resolved amicably.

Senator John Kerry, chairman of the U.S. Senate committee on foreign relations, has expressed concern over the removal of Yunus, saying the international community would keep a close eye on the situation.

Foreign Minister Dipu Moni told reporters on Friday that actions against Yunus would not harm Bangladesh's foreign relations.

"As an independent, sovereign country Bangladesh reserves the right to act against anyone at fault," she said.

Finance Minister Abul Maal Abdul Muhith on Friday defended the central bank's decision, saying that the government had no option but to remove Yunus. "There was nothing personal or political in Yunus's removal," he said.

Yunus is to meet U.S. Secretary of State Hillary Clinton in Washington next week.

Source: Reuters US Online Report World News
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Re: Bangladesh

Postby winston » Tue Apr 05, 2011 9:04 pm

Bangladesh's Yunus loses appeal against sacking

Bangladesh's Supreme Court on Tuesday dismissed Nobel-winning Muhammad Yunus's final appeal against a central bank order sacking him from the microfinance bank he founded, Yunus's lawyer told AFP.

"The appeal has been dismissed by the Supreme Court," Tamin Husain Shawan said.

Yunus, 70, was removed from his position as managing director of Grameen Bank on March 2 but defied the order, returning to work and lodging a legal case challenging his dismissal.

Source: AFP Global Edition
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Re: Bangladesh

Postby winston » Mon Feb 06, 2012 7:48 pm

At least they have Freedom of Assembly ...

Bangladesh stocks lose 6.0%, crash 31% this year

Protesters took to the streets of Bangladesh's capital on Monday after the country's main stock index plunged 6.0 percent, deepening a crash that has seen the bourse's value tumble 31 percent this year.

The benchmark DGEN index, which analysts warned had reached unsustainable levels, closed down 229.41 points, or 5.97 percent, at 3,616.24 points, its lowest grade since November 16, 2009.

A few hundred angry investors, who have watched the DGEN slump since the start of the year, demonstrated in Dhaka on Monday and disrupted traffic, police sub-inspector M Sharifuzzman said. Nine were arrested.

The former head of the Securities and Exchange Commission (SEC), Faruq Ahmed Chowdhury, told AFP that the sharp market falls were the result of "nothing but panic".

http://www.newsmeat.com/news/meat.php?a ... &buid=3281
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Re: Bangladesh

Postby winston » Mon Oct 08, 2012 8:43 pm

Bangladesh arrests tycoon over huge bank scam

Bangladesh police have arrested a textile tycoon over allegations that he was involved in embezzling $192 million in the country's largest ever banking scam, officials said Monday.

Officers arrested Tanvir Mahmud, managing director of Hallmark Group, and his brother in-law, a group general manager, at a house in the capital Dhaka, police spokesman Abhishek Ahmed told AFP.

Mahmud, his wife, five Hallmark executives and 20 staff at Sonali Bank -- the country's largest state-owned lender -- have been charged by the ACC with embezzling $192 million between 2010 and May this year.

The central bank has also accused Hallmark of stealing another $120 million from the same Sonali branch.

The allegations are the latest in a series of scandals in Bangladesh after a dramatic stock market crash in 2010-11 and a major pyramid scheme collapse.

Sonali Bank, which has some 1,200 branches across the country, has already suspended 20 officials including two senior executives for their alleged role in the embezzlement.


Source: AFP Asian Edition
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Re: Bangladesh

Postby winston » Thu May 02, 2013 7:46 pm

Local mayor suspended as Bangladesh disaster toll climbs to 430

DHAKA (Reuters) - The mayor of the Bangladesh municipality where a factory building collapsed killing more than 400 people was suspended from office on Thursday, a government minister said, as rescuers pressed on with the task of recovering bodies from the wreckage..

http://www.reuters.com/article/2013/05/ ... ningdigest
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Re: Bangladesh

Postby behappyalways » Tue Jun 02, 2015 2:22 pm

貪錢夫搶嫁妝不遂
鏹水淋前妻外母
http://hk.apple.nextmedia.com/internati ... 1431863399
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Re: Bangladesh

Postby behappyalways » Thu Jun 11, 2015 2:31 pm

In Bangladesh, human traffickers rely on silence and extortion
http://america.aljazeera.com/articles/2 ... rtion.html
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Re: Bangladesh

Postby behappyalways » Wed Jun 24, 2015 8:36 am

血要热 头脑要冷 骨头要硬
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