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Staff Reporter

Fixing the value of each share at Tk 100 three nationalized commercial banks (NCBs)–Sonali, Janata and Agrani banks-were formally made public limited companies (PLC) through the signing of separate “vendor” agreements to this effect yesterday.The NCBs, after necessary gazette notification, will be operated by independent management and board of directors in accordance with the Banking Companies Act of 1994. Having 100 per cent share of the PLCs, the government earlier appointed chairmen of the board of directors for the three banks. (more…)

Court Correspondent

Two different courts of Dhaka yesterday, rejected two petitions to put BNP’s Senior Joint Secretary General and former Premier Khaleda Zia’s elder son Tarique Rahman on remand for 7 days each. However, if necessary, I0 was permitted to quiz Tarique at the jail gate.In one case Tarique was accused of extortioning Taka one crore 32 lakh, while in another case he allegedly extorted Taka 5 crore. On March 27 this year, Khan Md Aftab Uddin, proprietor, Reza Construction filed the first case with Gulshan Thana accusing Gias Uddin Al-Mamun, Khairul Kabir Khokon, Obaidul Kader, Kamruzzaman, Hablu, Mahbub and Mota Tareque. In the case, Mamun made confessional statement and on April 21, (more…)

Staff ReporterThe severe cyclone-SIDR hit the country’s coast yesterday evening with a windspeed from 140 to 165 killometres per hour (kph).The cyclone originating in the Bay started pounding the entire south and southwestern coast from Cox’s Bazar to Satkhira districts. The number of the vulnerable people living in the coastline are nearly 1 crore 20 lakh.

Officials engaged in evacuation from remote offshore islands said winds with a speed of 100 to 130 kph which was packing with gusty wind to 165 kph started lashing the areas ahead of impending attack by the super severe Cyclone “SIDR”, a category four super storm.

“This cyclone has a devastating capacity like that of the November 12, 1970 cyclone and the US hurricane caterina,” a senior meterolgist said. (more…)