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Factory generators caused Bangladesh disaster: investigator DHAKA: A top investigator probing last week's garment factory disaster in Bangladesh on Friday blamed vibrations from four illegal generators for the collapse of the building which killed more than 500 workers.The preliminary findings of the government probe, as described by lead investigator Main Uddin Khandaker, gave the clearest explanation yet for the catastrophic structural failure."Four huge generators were set up on each of the top floors where garment factories were located, violating rules," Khandaker, a senior home ministry official, told AFP."When these generators were started after a power cut they created vibration, and together with the vibration of thousands of sewing machines, they triggered the collapse," he said."Within five minutes the building caved in and sandwiched into one floor like a pack of cards," he said, adding a final probe report would be submitted after the conclusion of the recovery operation.It also emerged Friday that an engineer who had ...

Iran union urges wage hike at May Day rally TEHRAN: An Iranian workers union on Wednesday urged the government to hike salaries and curb soaring inflation as the Islamic republic's economic woes take a toll on its working class, local media reported."A 25-percent increase in salaries does not even correspond with the annual inflation (ending March 2012), let alone that of this year," said the head of the Worker's House, Alireza Mahjoub, quoted by the Iranian Labour News Agency (ILNA).Addressing about 4,000 workers in ...
Earthquake measuring 5.7 strikes northern India: USGS        SYDNEY: A shallow earthquake with a preliminary magnitude of 5.7 struck in northern India on Wednesday, the US Geological Survey said.The quake was only 10 km (six miles) deep and struck at 6:57 GMT, 17 km (10 miles) northeast of Bhadarwah in India, said the USGS. Powerful, shallow quakes are capable of causing extensive damage.Copyright Reuters, 2013 ...
Bangladesh workers vent May Day fury after disaster DHAKA: Protestors demanded the execution of factory bosses over the death of nearly 400 people in a building collapse Wednesday, as May Day became the focus of workers' anger over Bangladesh's worst industrial disaster.Despite calls by the prime minister for "cool heads", tensions over the country's deadliest industrial disaster showed little sign of abating and there were fears of more violence and vandalism at textile mills.Several thousand workers holding red banners and flags chanted "Hang ...
India govt slammed as 'most corrupt' since independence NEW DELHI: India's opposition called the government the "most corrupt since independence" on Tuesday as a row over political interference in a police probe escalated in the Supreme Court.The top court rebuked the nominally independent Central Bureau of Investigation (CBI) for showing the government a report on its investigation into alleged corruption in coal mine allotments.Government lawyers had denied in court that the results of the probe into the scandal, which is being monitored by ...
Bangladesh defends rejection of disaster aid DHAKA: Bangladesh confirmed Tuesday that it had rejected foreign offers to help the rescue effort after the collapse of a factory complex, saying its rescue operation had been "exemplary"."The need for immediate foreign assistance was not felt because our rescue operation has been sufficient and exemplary," Home Secretary Mustak Ahmed told AFP, adding that the government was "grateful" for the offers from the international community.Copyright AFP (Agence France-Presse), 2013 ...
Cargo plane crashes at Afghan airbase: NATO KABUL: A civilian cargo plane crashed shortly after take-off at a huge US-run airfield in Afghanistan on Monday, officials said, adding that there was no reported insurgent activity in the area at the time.The plane came down inside the airfield boundaries and rescue crews rushed to the scene, said a NATO spokeswoman at Bagram, a key transport hub for US-led military operations in Afghanistan.The spokeswomen told AFP that no information was available on how many ...

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln