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A Union Parishad chairman was gunned down by miscreants at his Gazirhat home in Kalia upazila of Narail on Friday. The miscreants fired gunshots at Nayeem Hossian Mollah, 50, chairman of Hamidpur Union Parishad, around 4:00am while he was asleep at his home, leaving him critically injured, said officer-in-charge of Kalia Police Station Md Shamser quoting his family members. Nayeem was taken to Khulna Medical College Hospital where doctors declared him dead, reports UNB.....

Published at: 2017-08-25 05:00:05

Asian stocks advanced on Friday, once again shrugging off a sluggish day on Wall Street, and the dollar strengthened as attention shifted to the central bankers’ symposium in Jackson Hole, Wyoming, that began on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS, was up 0.1 per cent, set to end the week 1.4 per cent higher. Overnight, Wall Street indexes closed between 0.1 per cent .IXIC .DJI and 0.2 per cent .SPX lower as a rift between US President Donald Trump and Congress appeared to widen. In a post on Twitter, Trump said Congress could have avoided a legislative “mess” if it had heeded his advice on raising the amount of money the government can borrow, known as the debt ceiling. That came after Trump said on Tuesday that he would be willing to risk a government shutdown to secure funding for a wall along the US-Mexico border. A late-September deadline looms for the United States to raise the its debt ceiling or risk defaulting on debt payments. The MSCI World index .MIWD00000PUS was steady, heading for a 0.7 per cent weekly gain. Japan’s Nikkei .N225 climbed 0.45 per cent, narrowing its weekly loss to 0.15 per cent. South Korea’s KOSPI .KS11 rose 0.2 per cent and Australia’s S&P/ASX 200 index was little changed. The dollar fared better than US stocks as investors turned their sights to the Jackson Hole central bankers’ meeting at which Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak on Friday, although no new policy messages are expected from either. Yellen and Draghi will are scheduled to speak at 1400 and 1900 GMT respectively. “Expectations for further rate hikes (by the Fed) this year have been tempered by the stubbornly low inflation with some Federal Reserve members calling for a halt to the rate hiking plan,” said William O’Loughlin, investment analyst at Rivkin in Sydney. “Mario Draghi is also set to speak, with markets hoping he will reveal details of the ECB’s tapering plans.” The dollar was also helped by fewer-than-expected US initial jobless claims for the week ended Aug 19. The dollar was slightly stronger on Friday at 109.625 yen JPY=D4, extending Thursday’s 0.5 per cent gain, and heading for a weekly rise of 0.4 per cent. Japanese core consumer prices rose for the seventh straight month in July, a sign the economy is making steady but painfully slow progress toward meeting the central bank’s 2 per cent inflation target, although the increase was still largely driven by higher fuel bills. The dollar index .DXY, which tracks the greenback against a basket of six major peers, was also slightly higher at 93.323. It is poised to end the week 0.1 per cent lower. The euro EUR=EBS was marginally lower at $1.17945, set for a weekly gain of 0.3 per cent. In commodities, oil prices rose on Friday as production was shut down on expectations Tropical Storm Harvey would become a major hurricane when it reaches the Texas coast on Friday night or early on Saturday. That came after crude prices fell overnight as some refiners shut down as Harvey crossed the Gulf of Mexico, reducing their short-term crude demand. Harvey could turn out to be the most powerful hurricane to hit the US mainland in 12 years, packing winds of up to 125 miles per hour (200 km per hour), driving a surge in sea levels as high as 12 feet (3.7 meters), and dumping up to 35 inches (97 cm) of rain over parts of Texas. US crude futures CLc1 rose 0.65 per cent to $47.73 a barrel, after Thursday's 2 per cent slump. They're on track for a weekly fall of 1.6 per cent. Global benchmark Brent LCOc1 advanced 0.5 per cent to $52.40, after sliding 0.8 per cent overnight, and is headed for a drop of 0.6 per cent for the week. Copper remained near a three-year high hit on Thursday on signs of stronger demand in top consumer China while inventories in London warehouses fell. Benchmark copper on the London Metal Exchange CMCU3 inched up 0.2 per cent to $6,700.50 a tonne, extending Thursday's 1.9 per cent gain and set to end the week up 3.3 per cent. Gold XAU= slipped slightly to $1,285.92 an ounce, heading for a 0.1 per cent gain for the week.   ....

Published at: 2017-08-25 05:00:05

A court in Seoul is set to decide whether the billionaire heir-apparent of the Samsung conglomerate will be jailed for corruption. Lee Jae-yong is facing accusations of bribery linked to a scandal that triggered the impeachment of South Korea's former president. Prosecutors are asking for a 12-year jail sentence. He denies all charges. The case has gripped the public amid growing anger against South Korea's biggest companies, known as chaebols. WHY IS HE ON TRIAL? Mr Lee, also known as Jay Y Lee, has been detained since February on a string of corruption charges including bribery, embezzlement and hiding assets overseas. He stands accused of giving donations worth 41bn won ($36m; £29m) to non-profit foundations operated by Choi Soon-sil, a friend of South Korea's former President Park Geun-hye, in return for political favours. The 49-year-old had been standing in as chairman for his ill father, Lee Kun-hee, who suffered a heart attack and slipped into a coma in 2014. Prosecutors alleged that the donations were made to Ms Park's confidante to win government support for a big restructuring of Samsung that would strengthen Mr Lee's control over Samsung Electronics. But the defence said he was not involved in making day-to-day business decisions at South Korea's biggest conglomerate and that the payments were signed off without his knowledge. The charges carry a maximum sentence of 20 years in prison, but he would almost certainly appeal against any conviction. Yet he may yet escape a jail term even if he is convicted. Many top executives of South Korea's biggest companies, including his father, have been convicted of crimes but were pardoned. WHO ELSE IS INVOLVED? Mr Lee is the most high-profile figure arrested in the investigation and was charged along with four other Samsung executives. They include former Samsung Group vice-chairman Choi Gee-sung, former president Chang Choong-ki, former Samsung Electronics president Park Sang-jin and executive vice-president Hwang Sung-soo. Three of them resigned after the case emerged but have denied all the charges including bribery and hiding assets. They stand accused of bribing Park to pave the way for the merger of two publicly owned Samsung companies, despite opposition from shareholders. WHAT DOES IT MEAN FOR SAMSUNG? The Samsung Group, made up of 60 interlinked companies, is crucial to the South Korean economy, with sales equivalent to about a fifth of the national GDP. The chaebol includes a shipbuilding division, construction company, pharmaceuticals and advertising arms. Other chaebols include LG, Lotte and Hyundai. Mr Lee became a Samsung president in 2009 and in 2013, he was made vice-chairman of Samsung Electronics, which makes smartphones, televisions, cameras and hard drives. But since Mr Lee's father suffered a heart attack in 2014, he has been considered the de facto boss of the entire Samsung group. Regardless of the outcome, the case is likely to damage Mr Lee's reputation as one of the country's most powerful business leaders. However, since his arrest six months ago some of Samsung's business operations seem to have continued largely unaffected. Samsung Electronics posted a record profit of 11tn won for its most recent quarter and the firm has released its new flagship Galaxy S8 smartphone, closing the book on the disastrous recall of the exploding Galaxy Note 7.   ....

Published at: 2017-08-25 05:00:05

A suspected Neo JMB member was killed in a reported gunfight with police at Boalia in Daulatpur upazila early Friday. The deceased has been identified as Arman Ali, son of Achan Ali of Thakur Soulatpur village of Bheramara upazila. Tipped off, a team of police conducted a drive at Bottola in Boalia area when Arman along with his associates was holding a clandestine meeting there around 3:00am, said Shah Dara Khan, officer in-charge of Daulatpur Police Station. Sensing the law enforcers' presence, the criminals opened fire on them, forcing the police to fire back that triggered a gun battle. Arman was caught in the line of fire and got injured, while his associates managed to flee the scene. Arman was taken to Daulatpur Upazila Health Complex where doctors declared him dead. Four police officials also suffered minor injuries in the fight. Police said the deceased was a member of Neo JMB and accused in several cases filed under firearms and explosives acts; according to UNB.....

Published at: 2017-08-25 05:00:05

The government-run banks are appointing 1,663 officials to vacant positions. Sonali Bank will appoint 527 officials, Janata Bank 161, Rupali Bank 283, Bangladesh Development Bank 39, Bangladesh Krishi Bank, 351, and Rajshahi Krishi Unnayan Bank 231 officials, according to a Bangladesh Bank notice published on Wednesday. Besides these banks, Bangladesh House Building Finance Corporation will appoint one and Investment Corporation of Bangladesh 70 officials. The number of officials required may change, the central bank said in the notice. The online application process on Bangladesh Bank's website started on Wednesday and will continue until Sept 17. The age limit of the candidates is 30 years. It is 32 years for those under freedom fighter or people with disabilities quota. The applicants must have postgraduate degree from any university of Bangladesh, or four-year honours degree. A third class result in any of the public examinations will disqualify candidates. The applicants also must hold first class in at least two exams. They will have to sit multiple choice question test of 100 marks, written test of 200 marks and viva for the job. The Bangladesh Bank advised the applicants to preserve a 'tracking number' provided with their form. The applicants will require to provide papers after passing the written exams, according to bdnews24.com.  ....

Published at: 2017-08-24 05:00:04